Smith & Jones Films Limited
Unaudited Financial Statements
For the year ended 31 March 2024
Pages for Filing with Registrar
Company Registration No. 04771761 (England and Wales)
Smith & Jones Films Limited
Company Information
Director
Ms P Smith
Company number
04771761
Registered office
Charlotte Building
17 Gresse Street
London
United Kingdom
W1T 1QL
Accountants
Moore Kingston Smith LLP
Charlotte Building
17 Gresse Street
London
W1T 1QL
United Kingdom
Bankers
Barclays Bank Plc
Media Banking Centre
United Kingdom House
180 Oxford Street
London
W1D 1EA
Coutts & Co
440 Strand
London
WC2R 0QS
Smith & Jones Films Limited
Contents
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
Smith & Jones Films Limited
Balance Sheet
As at 31 March 2024
Page 1
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,904
672
Current assets
Debtors
4
173,594
181,442
Cash at bank and in hand
1,286,412
576,030
1,460,006
757,472
Creditors: amounts falling due within one year
5
(1,268,376)
(646,674)
Net current assets
191,630
110,798
Total assets less current liabilities
193,534
111,470
Creditors: amounts falling due after more than one year
6
(11,123)
(20,941)
Net assets
182,411
90,529
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
182,311
90,429
Total equity
182,411
90,529

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges her 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.

Smith & Jones Films Limited
Balance Sheet (Continued)
As at 31 March 2024
Page 2
The financial statements were approved and signed by the director and authorised for issue on 18 December 2024
Ms P Smith
Director
Company Registration No. 04771761
Smith & Jones Films Limited
Notes to the Financial Statements
For the year ended 31 March 2024
Page 3
1
Accounting policies
Company information

Smith & Jones Films Limited is a private company limited by shares incorporated in England and Wales. The registered office is Charlotte Building, 17 Gresse Street, London, United Kingdom, W1T 1QL.

1.1
Accounting convention

These financial statements have been prepared in accordance with 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

These financial statements are prepared on the going concern basis.true The director believes that the company will have sufficient funds to settle all of its liabilities as they fall due for at least 12 months from signing the accounts.

1.3
Turnover
Turnover represents amounts receivable for services net of VAT.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

1.4
Research and development expenditure

Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computer equipment
25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Smith & Jones Films Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2024
1
Accounting policies
(Continued)
Page 4
1.6
Impairment of fixed assets

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.7
Cash at bank and in hand

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.

1.8
Financial instruments

The company only has basic financial instruments measured at amortised cost, with no financial instruments classified as other, or basic financial instruments measured at fair value.

1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.10
Taxation

The tax expense represents the sum of the tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
2
2
Smith & Jones Films Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2024
Page 5
3
Tangible fixed assets
Plant and machinery
£
Cost
At 1 April 2023
6,971
Additions
1,708
At 31 March 2024
8,679
Depreciation and impairment
At 1 April 2023
6,299
Depreciation charged in the year
476
At 31 March 2024
6,775
Carrying amount
At 31 March 2024
1,904
At 31 March 2023
672
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
16,686
57,148
Other debtors
137,827
99,740
Prepayments and accrued income
19,081
24,554
173,594
181,442
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
10,679
10,928
Trade creditors
62,796
97,645
Corporation tax
27,581
13,807
Other taxation and social security
619
1,027
Other creditors
870,341
503,459
Accruals and deferred income
296,360
19,808
1,268,376
646,674
Smith & Jones Films Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2024
Page 6
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
11,123
20,941
7
Called up share capital
2024
2023
£
£
Ordinary share capital
Issued and fully paid
100 Ordinary shares of £1 each
100
100
8
Related party transactions

As at 31 March 2024, the director, Ms P Smith was owed £228,702 (2023: £148,644), which is included in directors' current accounts.

 

Included in other creditors is a balance of £6,147 (2023: £6,147) due to Smith & Jones Inc, a related party due to common directorship.

 

Included in other creditors is a balance of £635,492 (2023: £348,668) due to S & J Films Inc, Switzerland, a related party due to common directorship.

 

Included in other debtors is a balance of £72,667 (2023: £59,994) due from Smith & Jones (Nevada) Inc, a related party due to common directorship.

 

Included in other debtors is a balance of £30,054 (2023: £30,054) due from Lullaby Films Ltd, a related party due to common directorship.

 

Included in other debtors is a balance of £5,400 (2023: £25) due from Smith and Sons Ltd, a related party due to common directorship.

 

9
Control

The ultimate controlling party is Ms P Smith.

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