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COMPANY REGISTRATION NUMBER: 14750085
Zentangle Limited
Filleted Unaudited Financial Statements
31 August 2024
Zentangle Limited
Statement of Financial Position
31 August 2024
31 Aug 24
Note
£
Current assets
Stocks
1,396,833
Debtors
4
4,382,485
Cash at bank and in hand
1,057,192
------------
6,836,510
Creditors: amounts falling due within one year
5
6,836,410
------------
Net current assets
100
----
Total assets less current liabilities
100
----
Net assets
100
----
Capital and reserves
Called up share capital
100
----
Shareholders funds
100
----
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the period ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 24 March 2025 , and are signed on behalf of the board by:
Mr Harit Hemendra Desai
Director
Company registration number: 14750085
Zentangle Limited
Notes to the Financial Statements
Period from 22 March 2023 to 31 August 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 182-184 High Street North, East Ham, London, E6 2JA.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably. 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.
Stocks
Stocks consist of work in progress and represents film production costs. The costs are recorded at the lower of cost and net realisable value, and are net of Value Added Tax.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4. Debtors
31 Aug 24
£
Trade debtors
3,811,269
Other debtors
571,216
------------
4,382,485
------------
5. Creditors: amounts falling due within one year
31 Aug 24
£
Trade creditors
6,828,910
Other creditors
7,500
------------
6,836,410
------------
Production advances is in respect of funding received to produce the film.