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Registered Number: 08477812
England and Wales

 

 

 


Abridged Accounts

for the year ended 30 April 2024

for

LAPSE FILM LTD

 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 51,953    35,596 
51,953    35,596 
Current assets      
Debtors: amounts falling due within one year 95,690    20,672 
Cash at bank and in hand 100,228    81,739 
195,918    102,411 
Creditors: amount falling due within one year (87,834)   (60,727)
Net current assets 108,084    41,684 
 
Total assets less current liabilities 160,037    77,280 
Creditors: amount falling due after more than one year (17,360)   (24,965)
Net assets 142,677    52,315 
 

Capital and reserves
     
Called up share capital 4 2    2 
Profit and loss account 142,675    52,313 
Shareholder's funds 142,677    52,315 
 


For the year ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 29 May 2024 and were signed on its behalf by:


-------------------------------
Alex Stockley
Director
1
General Information
Lapse Film Ltd is a private company, limited by shares, registered in England and Wales, registration number 08477812, registration address Unit 13 Frenchs Road, Cambridge, CB4 3NP.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 20% Straight Line
Fixtures and Fittings 25% Reducing Balance
Computer Equipment 25% Reducing Balance
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
2.

Average number of employees

Average number of employees during the year was 3 (2023 : 3).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £   £
At 01 May 2023 46,722    14,995    1,041    33,191    95,949 
Additions 26,656        8,414    35,070 
Disposals (7,353)     (383)   (7,706)   (15,442)
At 30 April 2024 66,025    14,995    658    33,899    115,577 
Depreciation
At 01 May 2023 32,041    8,318    766    19,228    60,353 
Charge for year 10,032    1,669    66    4,701    16,468 
On disposals (6,947)     (350)   (5,900)   (13,197)
At 30 April 2024 35,126    9,987    482    18,029    63,624 
Net book values
Closing balance as at 30 April 2024 30,899    5,008    176    15,870    51,953 
Opening balance as at 01 May 2023 14,681    6,677    275    13,963    35,596 


4.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
2 Class A shares of £1.00 each  
 

2