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 |