Colbert Entertainment Ltd
Unaudited Financial Statements
For the year ended 31 July 2024
Pages for Filing with Registrar
Company Registration No. 09152811 (England and Wales)
Colbert Entertainment Ltd
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 5
Colbert Entertainment Ltd
Balance Sheet
As at 31 July 2024
Page 1
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
1,931
Current assets
Debtors
4
328
103
Cash at bank and in hand
31,935
37,100
32,263
37,203
Creditors: amounts falling due within one year
5
(442,019)
(440,944)
Net current liabilities
(409,756)
(403,741)
Net liabilities
(407,825)
(403,741)
Capital and reserves
Called up share capital
6
100
100
Profit and loss reserves
(407,925)
(403,841)
Total equity
(407,825)
(403,741)
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 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his 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.
The financial statements were approved and signed by the director and authorised for issue on 29 April 2025
S Lancrenon
Director
Company Registration No. 09152811
Colbert Entertainment Ltd
Notes to the Financial Statements
For the year ended 31 July 2024
Page 2
1
Accounting policies
Company information
Colbert Entertainment Ltd is a private company limited by shares incorporated in England and Wales. The registered office is C/O Sébastien Lancrenon, 3 Impasse Guéménée, Paris, France, 75004.
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
Atruet 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 continues to adopt the going concern basis of accounting in preparing the financial statements.
Although the company is in a net liabilities position at the end of the current and prior year, the company is supported by shareholder loans. The shareholders have confirmed their continuing support of the company and have confirmed that they will not recall their loans for a period of at least 12 months from the date of signing of these financial statements.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.4
Intangible fixed assets other than goodwill
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Amortisation 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:
Trademark
Term to expiry
1.5
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
Colbert Entertainment Ltd
Notes to the Financial Statements (Continued)
For the year ended 31 July 2024
1
Accounting policies
(Continued)
Page 3
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
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.
1.6
Cash and cash equivalents
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.
1.7
Financial instruments
The company has only basic financial instruments measured at amortised cost, with no financial instruments classified as other, or basic financial instruments measured at fair value.
1.8
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.9
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
2
Employees
The average monthly number of persons (including directors) employed by the company during the
Period was:
2024
2023
Number
Number
Total
Colbert Entertainment Ltd
Notes to the Financial Statements (Continued)
For the year ended 31 July 2024
Page 4
3
Intangible fixed assets
Other
£
Cost
At 1 August 2023
Additions
1,931
At 31 July 2024
1,931
Amortisation and impairment
At 1 August 2023 and 31 July 2024
Carrying amount
At 31 July 2024
1,931
At 31 July 2023
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
328
103
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
1,350
Other creditors
437,944
437,944
Accruals and deferred income
2,725
3,000
442,019
440,944
6
Called up share capital
2024
2023
£
£
Ordinary share capital
Issued and fully paid
100 Ordinary shares of £1 each
100
100
Colbert Entertainment Ltd
Notes to the Financial Statements (Continued)
For the year ended 31 July 2024
Page 5
7
Related party transactions
At the year end the company owed director S Lancrenon £350,643 (2023: £350,643). No amounts have been written off in respect of this balance.
At the year end the company owed £87,301 (2023: £87,301) to shareholder L Carrie in respect of funding loans made to the company. No amounts have been written off in respect of this balance.
8
Controlling party
The immediate and ultimate controlling party is director S Lancrenon by virtue of his majority shareholding in the company.