Company Registration No. 07943737 (England and Wales)
Open Gate Films Ltd
Unaudited accounts
for the year ended 29 February 2024
Open Gate Films Ltd
Unaudited accounts
Contents
Open Gate Films Ltd
Company Information
for the year ended 29 February 2024
Company Number
07943737 (England and Wales)
Registered Office
33 Chessington Avenue
London
N3 3DR
Accountants
Alexander-Passe & Co
33 Chessington Avenue
London
N3 3DR
Open Gate Films Ltd
Statement of financial position
as at 29 February 2024
Intangible assets
40,000
45,000
Tangible assets
19,505
20,573
Cash at bank and in hand
(2,001)
(1,416)
Creditors: amounts falling due within one year
(28,451)
(33,954)
Net current liabilities
(30,452)
(30,957)
Total assets less current liabilities
29,053
34,616
Creditors: amounts falling due after more than one year
(28,529)
(34,295)
Called up share capital
1
1
Profit and loss account
523
320
Shareholders' funds
524
321
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 31 July 2024 and were signed on its behalf by
Mr P Mackay
Director
Company Registration No. 07943737
Open Gate Films Ltd
Notes to the Accounts
for the year ended 29 February 2024
Open Gate Films Ltd is a private company, limited by shares, registered in England and Wales, registration number 07943737. The registered office is 33 Chessington Avenue, London, N3 3DR. The principal place of business is 65 Mundania Road, East Dulwich, London, SE22 0NW.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% on reducing balance
Intangible fixed assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight basis over their estimated useful economic lives. Impairment of intangible fixed assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill is written off in equal annual installments over its estimated economic life of 20 years.
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Intangible fixed assets
Goodwill
At 29 February 2024
100,000
At 29 February 2024
60,000
At 29 February 2024
40,000
At 28 February 2023
45,000
Open Gate Films Ltd
Notes to the Accounts
for the year ended 29 February 2024
5
Tangible fixed assets
Plant & machinery
At 29 February 2024
76,994
At 29 February 2024
57,489
At 29 February 2024
19,505
At 28 February 2023
20,573
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Creditors: amounts falling due within one year
2024
2023
Trade creditors
9,463
7,017
Taxes and social security
11,932
15,431
7
Creditors: amounts falling due after more than one year
2024
2023
Other creditors
16,003
21,491
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1
1
9
Average number of employees
During the year the average number of employees was 1 (2023: 1).