Caseware UK (AP4) 2023.0.135 2023.0.135 2023-11-302023-11-30The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2022-12-01falseNo description of principal activity11truetruefalse 04091776 2022-12-01 2023-11-30 04091776 2021-12-01 2022-11-30 04091776 2023-11-30 04091776 2022-11-30 04091776 c:Director1 2022-12-01 2023-11-30 04091776 d:PlantMachinery 2022-12-01 2023-11-30 04091776 d:PlantMachinery 2023-11-30 04091776 d:PlantMachinery 2022-11-30 04091776 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 04091776 d:ComputerEquipment 2022-12-01 2023-11-30 04091776 d:ComputerEquipment 2023-11-30 04091776 d:ComputerEquipment 2022-11-30 04091776 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 04091776 d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 04091776 d:CurrentFinancialInstruments 2023-11-30 04091776 d:CurrentFinancialInstruments 2022-11-30 04091776 d:CurrentFinancialInstruments d:WithinOneYear 2023-11-30 04091776 d:CurrentFinancialInstruments d:WithinOneYear 2022-11-30 04091776 d:ShareCapital 2023-11-30 04091776 d:ShareCapital 2022-11-30 04091776 d:RetainedEarningsAccumulatedLosses 2023-11-30 04091776 d:RetainedEarningsAccumulatedLosses 2022-11-30 04091776 c:FRS102 2022-12-01 2023-11-30 04091776 c:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 04091776 c:FullAccounts 2022-12-01 2023-11-30 04091776 c:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 04091776 e:PoundSterling 2022-12-01 2023-11-30 iso4217:GBP xbrli:pure

Registered number: 04091776









PALOMINO FILMS LIMITED








FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 NOVEMBER 2023

 
PALOMINO FILMS LIMITED
REGISTERED NUMBER: 04091776

BALANCE SHEET
AS AT 30 NOVEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
5,774
5,025

  
5,774
5,025

Current assets
  

Debtors: amounts falling due within one year
 5 
21,183
1,448

Cash at bank and in hand
 6 
207,358
153,986

  
228,541
155,434

Creditors: amounts falling due within one year
 7 
(76,684)
(65,380)

Net current assets
  
 
 
151,857
 
 
90,054

Total assets less current liabilities
  
157,631
95,079

  

Net assets
  
157,631
95,079


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
157,630
95,078

  
157,631
95,079


Page 1

 
PALOMINO FILMS LIMITED
REGISTERED NUMBER: 04091776
    
BALANCE SHEET (CONTINUED)
AS AT 30 NOVEMBER 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
I Brignull
Director

Date: 18 September 2024

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
PALOMINO FILMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1.


General information

Palomino Films Limited is a private company limited by shares. The Company is incorporated in England and Wales and the address of the registered office is Aston House, Cornwall Avenue, London, N3 1LF. The company registered number is 04091776.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
PALOMINO FILMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

The Company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefits to the Company. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to profit or loss during the period in which they are incurred.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant & machinery
-
25%
reducing balance
Computer equipment
-
25%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
PALOMINO FILMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

3.


Employees




The average monthly number of employees, including directors, during the year was 1 (2022 - 1).


4.


Tangible fixed assets





Plant & machinery
Computer equipment
Total

£
£
£



Cost or valuation


At 1 December 2022
4,490
18,592
23,082


Additions
-
2,673
2,673



At 30 November 2023

4,490
21,265
25,755



Depreciation


At 1 December 2022
4,490
13,567
18,057


Charge for the year on owned assets
-
1,924
1,924



At 30 November 2023

4,490
15,491
19,981



Net book value



At 30 November 2023
-
5,774
5,774



At 30 November 2022
-
5,025
5,025

Page 5

 
PALOMINO FILMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

5.


Debtors

2023
2022
£
£


Trade debtors
19,479
-

Other debtors
1,704
1,448

21,183
1,448



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
207,358
153,986

207,358
153,986



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Corporation tax
20,720
9,319

Other creditors
55,964
54,061

Accruals and deferred income
-
2,000

76,684
65,380


 
Page 6