Registered number
07784360
STONE FACE FILMS LTD
Filleted Accounts
31 August 2023
STONE FACE FILMS LTD
Registered number: 07784360
Balance Sheet
as at 31 August 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 30,489 29,122
Current assets
Debtors 4 30,360 30,360
Cash at bank and in hand 46,818 32,994
77,178 63,354
Creditors: amounts falling due within one year 5 (14,876) (16,324)
Net current assets 62,302 47,030
Total assets less current liabilities 92,791 76,152
Creditors: amounts falling due after more than one year 6 (14,066) (17,673)
Net assets 78,725 58,479
Capital and reserves
Called up share capital 100 100
Profit and loss account 78,625 58,379
Shareholders' funds 78,725 58,479
The director is 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 director acknowledges his 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.
Aaron Stone
Director
Approved by the board on 31 August 2024
STONE FACE FILMS LTD
Notes to the Accounts
for the year ended 31 August 2023
1 Accounting policies
Basis of preparation
The 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 consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the 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. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Motor Vehicles over 4 years
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 September 2022 3,503 30,388 33,891
Additions 2,500 - 2,500
At 31 August 2023 6,003 30,388 36,391
Depreciation
At 1 September 2022 3,503 1,266 4,769
Charge for the year 500 633 1,133
At 31 August 2023 4,003 1,899 5,902
Net book value
At 31 August 2023 2,000 28,489 30,489
At 31 August 2022 - 29,122 29,122
4 Debtors 2023 2022
£ £
Trade debtors 1,360 1,360
Other debtors 29,000 29,000
30,360 30,360
5 Creditors: amounts falling due within one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts 3,607 3,607
Corporation tax 10,636 12,084
Other taxes and social security costs 633 633
14,876 16,324
6 Creditors: amounts falling due after one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts 14,066 17,673
7 Other information
STONE FACE FILMS LTD is a private company limited by shares and incorporated in England. Its registered office is:
3rd Floor
207 Regent Street
London
W1B 3HH
STONE FACE FILMS LTD 07784360 false 2022-09-01 2023-08-31 2023-08-31 VT Final Accounts July 2024 Aaron Stone No description of principal activity 07784360 2021-09-01 2022-08-31 07784360 core:WithinOneYear 2022-08-31 07784360 core:AfterOneYear 2022-08-31 07784360 core:ShareCapital 2022-08-31 07784360 core:RetainedEarningsAccumulatedLosses 2022-08-31 07784360 2022-09-01 2023-08-31 07784360 bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 07784360 bus:AuditExempt-NoAccountantsReport 2022-09-01 2023-08-31 07784360 bus:Director40 2022-09-01 2023-08-31 07784360 1 2022-09-01 2023-08-31 07784360 2 2022-09-01 2023-08-31 07784360 core:PlantMachinery 2022-09-01 2023-08-31 07784360 core:Vehicles 2022-09-01 2023-08-31 07784360 countries:England 2022-09-01 2023-08-31 07784360 bus:FRS102 2022-09-01 2023-08-31 07784360 bus:FilletedAccounts 2022-09-01 2023-08-31 07784360 2023-08-31 07784360 core:WithinOneYear 2023-08-31 07784360 core:AfterOneYear 2023-08-31 07784360 core:ShareCapital 2023-08-31 07784360 core:RetainedEarningsAccumulatedLosses 2023-08-31 07784360 core:PlantMachinery 2023-08-31 07784360 core:Vehicles 2023-08-31 07784360 2022-08-31 07784360 core:PlantMachinery 2022-08-31 07784360 core:Vehicles 2022-08-31 iso4217:GBP xbrli:pure