Registered number
08766239
Windmill Cinema Ltd
Filleted Accounts
31 March 2024
Windmill Cinema Ltd
Registered number: 08766239
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 34,946 41,697
Current assets
Stocks - 1,000
Debtors 4 3,937 11,984
Cash at bank and in hand 180,211 140,681
184,148 153,665
Creditors: amounts falling due within one year 5 (58,438) (122,631)
Net current assets 125,710 31,034
Total assets less current liabilities 160,656 72,731
Creditors: amounts falling due after more than one year 6 (158,567) (30,498)
Net assets 2,089 42,233
Capital and reserves
Called up share capital 100 100
Profit and loss account 1,989 42,133
Shareholders' funds 2,089 42,233
The directors are 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 directors acknowledge their 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.
Mr K J Orman
Director
Approved by the board on 27 March 2025
Windmill Cinema Ltd
Notes to the Accounts
for the year ended 31 March 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:
Plant and machinery 20% reducing balance
Motor vehicles 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2023 79,753 15,829 95,582
Additions 2,117 - 2,117
At 31 March 2024 81,870 15,829 97,699
Depreciation
At 1 April 2023 40,169 13,716 53,885
Charge for the year 8,340 528 8,868
At 31 March 2024 48,509 14,244 62,753
Net book value
At 31 March 2024 33,361 1,585 34,946
At 31 March 2023 39,584 2,113 41,697
4 Debtors 2024 2023
£ £
Trade debtors - 9,449
Other debtors 3,937 2,535
3,937 11,984
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 47,850 10,000
Trade creditors 1,056 3,715
Taxation and social security costs 312 17,536
Other creditors 9,220 91,380
58,438 122,631
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 158,567 30,498
7 Other information
Windmill Cinema Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Demar House, 14 Church Road
East Wittering
Chichester
West Sussex
PO20 8PS
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