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Company Registration No. NI660473 (Northern Ireland)
Innate Films Limited Unaudited accounts for the year ended 30 April 2024
Innate Films Limited Unaudited accounts Contents
Page
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Innate Films Limited Company Information for the year ended 30 April 2024
Director
Janine Cobain
Company Number
NI660473 (Northern Ireland)
Registered Office
43 ASHFIELD GARDENS BELFAST BT15 3FW NORTHERN IRELAND
Accountants
DJB Accounting Ltd 34 Knockmoyle Drive Greystone Road Antrim BT41 1HE
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Innate Films Limited Accountants' report
Accountants' report to the director of Innate Films Limited on the preparation of the unaudited statutory accounts for the year ended 30 April 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Innate Films Limited for the year ended 30 April 2024 as set out on pages 5 - 7 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Innate Films Limited, as a body, in accordance with the terms of our engagement letter dated 30 September 2021. Our work has been undertaken solely to prepare for your approval the accounts of Innate Films Limited and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Innate Films Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Innate Films Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Innate Films Limited. You consider that Innate Films Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Innate Films Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
DJB Accounting Ltd 34 Knockmoyle Drive Greystone Road Antrim BT41 1HE 3 January 2025
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Innate Films Limited Statement of financial position as at 30 April 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
923 
2,108 
Current assets
Cash at bank and in hand
155 
53 
Creditors: amounts falling due within one year
(14,373)
(8,204)
Net current liabilities
(14,218)
(8,151)
Total assets less current liabilities
(13,295)
(6,043)
Creditors: amounts falling due after more than one year
(1,195)
(2,175)
Net liabilities
(14,490)
(8,218)
Capital and reserves
Profit and loss account
(14,490)
(8,218)
Shareholders' funds
(14,490)
(8,218)
For the year ending 30 April 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 her 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 3 January 2025 and were signed on its behalf by
Janine Cobain Director Company Registration No. NI660473
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Innate Films Limited Notes to the Accounts for the year ended 30 April 2024
1
Statutory information
Innate Films Limited is a private company, limited by shares, registered in Northern Ireland, registration number NI660473. The registered office is 43 ASHFIELD GARDENS, BELFAST, BT15 3FW, NORTHERN IRELAND.
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% Straight Line
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
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Innate Films Limited Notes to the Accounts for the year ended 30 April 2024
Going concern
At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director will continue to adopt the going concern basis of accounting in preparing the financial statements. There was a net deficiency of assets of £8,218 at the balance sheet date, however the director has confirmed continued support and considers that the company retains sufficient working capital to continue trading for the foreseeable future. This will be reviewed on an ongoing basis.
4
Tangible fixed assets
Fixtures & fittings 
£ 
Cost or valuation
At cost 
At 1 May 2023
5,091 
At 30 April 2024
5,091 
Depreciation
At 1 May 2023
2,983 
Charge for the year
1,185 
At 30 April 2024
4,168 
Net book value
At 30 April 2024
923 
At 30 April 2023
2,108 
5
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
900 
900 
Loans from directors
13,269 
7,134 
Accruals
204 
170 
14,373 
8,204 
6
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
1,195 
2,175 
7
Average number of employees
During the year the average number of employees was 1 (2023: 1).
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