Registered number
09296617
Cornerstone Films Ltd
Unaudited Filleted Abridged Accounts
31 December 2023
(DRAFT)
Cornerstone Films Ltd
Registered number: 09296617
Abridged Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Investments 3 114 114
Current assets
Stocks 6,960 13,228
Debtors 592,104 346,015
Cash at bank and in hand 309,022 428,319
908,086 787,562
Creditors: amounts falling due within one year (402,759) (380,690)
Net current assets 505,327 406,872
Total assets less current liabilities 505,441 406,986
Creditors: amounts falling due after more than one year (28,335) (38,353)
Net assets 477,106 368,633
Capital and reserves
Called up share capital 133 133
Share premium 449,967 449,967
Profit and loss account 27,006 (81,467)
Shareholders' funds 477,106 368,633
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account 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) of the Companies Act 2006.
Alison Thompson
Director
Approved by the board on 5 July 2024
Cornerstone Films Ltd
Notes to the Abridged Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The abridged accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the total consideration received or receivable for the company's own account in repect of sales made, net of discounts and value added taxes. Turnover may include revenue earned from the sale of goods and from the rendering of services. Turnover from any sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. Where a title has been successfully delivered to a distributor and the company has received commission in respect of the completion of that contract, income received in respect of that title is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Foreign currency translation
The directors have determined that the company's functional currency is UK Pounds, however the company also conducts a significant amout of its trade in US Dollars. Transactions in foreign currencies relating to financial assets denominated in UK pounds are initially recognised at the rate of exchange ruling at the date of the transaction. Other transactions in foreign currencies are translated at the closing rate of exchange. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 6 6
3 Investments
Other
investments
£
Cost
At 1 January 2023 114
At 31 December 2023 114
4 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Mark Julian Gooder
Director's loan account (unsecured, interest payable at official rate) 258 - (258) -
258 - (258) -
5 Other information
Cornerstone Films Ltd is a private company limited by shares and incorporated in England. Its registered office is:
30 St. Marys Gardens
London
SE11 4UF
Cornerstone Films Ltd 09296617 false 2023-01-01 2023-12-31 2023-12-31 VT Final Accounts April 2024 Alison Thompson No description of principal activity 09296617 2022-01-01 2022-12-31 09296617 core:WithinOneYear 2022-12-31 09296617 core:AfterOneYear 2022-12-31 09296617 core:ShareCapital 2022-12-31 09296617 core:SharePremium 2022-12-31 09296617 core:RetainedEarningsAccumulatedLosses 2022-12-31 09296617 2023-01-01 2023-12-31 09296617 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 09296617 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 09296617 bus:Director40 2023-01-01 2023-12-31 09296617 1 2023-01-01 2023-12-31 09296617 2 2023-01-01 2023-12-31 09296617 bus:Director1 2023-01-01 2023-12-31 09296617 bus:Director1 1 2023-01-01 2023-12-31 09296617 countries:England 2023-01-01 2023-12-31 09296617 bus:FRS102 2023-01-01 2023-12-31 09296617 bus:AbridgedAccounts 2023-01-01 2023-12-31 09296617 2023-12-31 09296617 core:WithinOneYear 2023-12-31 09296617 core:AfterOneYear 2023-12-31 09296617 core:ShareCapital 2023-12-31 09296617 core:SharePremium 2023-12-31 09296617 core:RetainedEarningsAccumulatedLosses 2023-12-31 09296617 bus:Director1 1 2023-12-31 09296617 2022-12-31 09296617 bus:Director1 1 2022-12-31 iso4217:GBP xbrli:pure