Cinelabs International Limited
Unaudited Financial Statements
For the year ended 31 December 2023
Pages for Filing with Registrar
Company Registration No. 08521218 (England and Wales)
Cinelabs International Limited
Company Information
Directors
R Cree
A Bull
D Newton
S K Chubbock
J Callis-Smith
S Chantler
(Appointed 7 August 2024)
Company number
08521218
Registered office
715 Banbury Avenue
Slough
SL1 4LR
Accountants
Moore Kingston Smith LLP
Charlotte Building
17 Gresse Street
London
W1T 1QL
Cinelabs International Limited
Contents
Page
Balance sheet
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 7
Cinelabs International Limited
Balance Sheet
As at 31 December 2023
Page 1
2023
2022
Notes
£
£
£
£
Fixed assets
Investments
3
91,811
91,811
Current assets
Debtors
5
1,076,616
831,456
Cash at bank and in hand
960,782
1,287,035
2,037,398
2,118,491
Creditors: amounts falling due within one year
6
(314,001)
(314,001)
Net current assets
1,723,397
1,804,490
Total assets less current liabilities
1,815,208
1,896,301
Creditors: amounts falling due after more than one year
7
(1,125,000)
(1,125,000)
Net assets
690,208
771,301
Capital and reserves
Called up share capital
8
480
480
Share premium account
530,140
530,140
Capital redemption reserve
150
150
Other reserves
57,378
57,378
Profit and loss reserves
102,060
183,153
Total equity
690,208
771,301
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Cinelabs International Limited
Balance Sheet (Continued)
As at 31 December 2023
Page 2
The financial statements were approved by the board of directors and authorised for issue on 23 September 2024 and are signed on its behalf by:
R Cree
Director
Company Registration No. 08521218
Cinelabs International Limited
Statement of Changes in Equity
For the year ended 31 December 2023
Page 3
Share capital
Share premium account
Capital redemption reserve
Other reserves
Profit and loss reserves
Total
Notes
£
£
£
£
£
£
Balance at 1 January 2022
480
530,140
150
57,378
340,897
929,045
Year ended 31 December 2022:
Loss and total comprehensive income for the year
-
-
-
-
(51,199)
(51,199)
Dividends
-
-
-
-
(106,545)
(106,545)
Balance at 31 December 2022
480
530,140
150
57,378
183,153
771,301
Year ended 31 December 2023:
Loss and total comprehensive income for the year
-
-
-
-
(50,718)
(50,718)
Dividends
-
-
-
-
(30,375)
(30,375)
Balance at 31 December 2023
480
530,140
150
57,378
102,060
690,208
Cinelabs International Limited
Notes to the Financial Statements
For the year ended 31 December 2023
Page 4
1
Accounting policies
Company information
Cinelabs International Limited is a private company limited by shares incorporated in England and Wales. The registered office is 715 Banbury Avenue, Slough, SL1 4LR.
1.1
Accounting convention
These financial statements have been prepared in accordance with Section 1A of FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue to trade in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.true
1.3
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.
Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.
1.4
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.5
Financial instruments
The company only has basic financial instruments measured at amortised costs, with no financial instruments classified as other, or basic instruments measured at fair value.
Cinelabs International Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2023
1
Accounting policies
(Continued)
Page 5
1.6
Compound instruments
The component parts of compound instruments issued by the company are classified separately as financial liabilities and equity in accordance with the substance of the contractual arrangement. At the date of issue, the fair value of the liability component is estimated using the prevailing market interest rate for a similar non-convertible instrument. This amount is recorded as a liability on an amortised cost basis using the effective interest method until extinguished upon conversion or at the instrument's maturity date. The equity component is determined by deducting the amount of the liability component from the fair value of the compound instrument as a whole. This is recognised and included in equity net of income tax effects and is not subsequently remeasured.
1.7
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.8
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was - 0 (2022 - 0)
3
Fixed asset investments
2023
2022
£
£
Investments
91,811
91,811
Movements in fixed asset investments
Shares in group undertakings
£
Cost or valuation
At 1 January 2023 & 31 December 2023
91,811
Carrying amount
At 31 December 2023
91,811
At 31 December 2022
91,811
Cinelabs International Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2023
Page 6
4
Subsidiaries
Details of the company's subsidiaries at 31 December 2023 are as follows:
Name of undertaking
Registered
Nature of business
Class of
% Held
office key
shares held
Direct
Indirect
Cinelab London Limited
1
Film development and processing
Ordinary
100.00
-
On Set Tech Limited
1
Digital dailies and data management
Ordinary
100.00
-
Cinelab Film and Digital Limited
1
Dormant
Ordinary
100.00
-
Registered Office addresses:
1
715 Banbury Avenue, Slough, SL1 4LR, United Kingdom
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
1,076,616
831,456
6
Creditors: amounts falling due within one year
2023
2022
£
£
Amounts due to group undertakings
314,001
314,001
7
Creditors: amounts falling due after more than one year
2023
2022
£
£
Convertible loans
675,000
675,000
Other creditors
450,000
450,000
1,125,000
1,125,000
Cinelabs International Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2023
Page 7
8
Called up share capital
2023
2022
£
£
Ordinary share capital
Issued and fully paid
20,000 Ordinary A Shares of 1p each
200
200
27,960 Ordinary B Shares of 1p each
280
280
480
480
9
Related party transactions
The company has chosen to take the FRS102 exemption, as per Section 33 Related Party Disclosures paragraph 33.7, to not disclose any related party transactions in relation to 100% related Group companies.
During the year there were dividends of £nil (2022: £50,625) paid to the directors of the company. There were no amounts outstanding with the directors at the year end.
10
Parent company
There is no ultimate controlling party.
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