Registered number
09443865
Paean Films Limited
Filleted Accounts
29 February 2024
Paean Films Limited
Registered number: 09443865
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 435 580
Current assets
Debtors 4 2,323 5,500
Cash at bank and in hand 7,878 8,212
10,201 13,712
Creditors: amounts falling due within one year 5 (20,401) (25,397)
Net current liabilities (10,200) (11,685)
Net liabilities (9,765) (11,105)
Capital and reserves
Called up share capital 100 100
Profit and loss account (9,865) (11,205)
Shareholders' funds (9,765) (11,105)
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.
Adam Price
Director
Approved by the board on 11 November 2024
Paean Films Limited
Notes to the Accounts
for the year ended 29 February 2024
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:
Fixtures, fittings, tools and equipment over 5 years
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 March 2023 5,800
At 29 February 2024 5,800
Depreciation
At 1 March 2023 5,220
Charge for the year 145
At 29 February 2024 5,365
Net book value
At 29 February 2024 435
At 28 February 2023 580
4 Debtors 2024 2023
£ £
Trade debtors 2,323 5,500
5 Creditors: amounts falling due within one year 2024 2023
£ £
Other creditors 20,401 25,397
6 Controlling party
The company is controlled by Mr Adam Price on the basis that he holds 100% of the issued share capital.
7 Other information
Paean Films Limited is a private company limited by shares and incorporated in England. Its registered office is:
Pennyweights
Kenley
CR8 5HB
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