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Registration number: 02692001

King Rollo Films Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

King Rollo Films Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

King Rollo Films Limited

Company Information

Director

Mr L Beltoft Nielsen

Company secretary

Mrs J M Beltoft Nielsen

Registered office

28 Alexandra Terrace
Exmouth
Devon
EX8 1BD

Accountants

Thompson Jenner LLP
Chartered Accountants
28 Alexandra Terrace
Exmouth
Devon
EX8 1BD

 

King Rollo Films Limited

(Registration number: 02692001)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

5

5,000

10,000

Tangible assets

6

70

277

 

5,070

10,277

Current assets

 

Debtors

7

129

38

Creditors: Amounts falling due within one year

8

(251,189)

(235,851)

Net current liabilities

 

(251,060)

(235,813)

Total assets less current liabilities

 

(245,990)

(225,536)

Creditors: Amounts falling due after more than one year

8

(3,117)

(6,660)

Net liabilities

 

(249,107)

(232,196)

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(249,207)

(232,296)

Shareholders' deficit

 

(249,107)

(232,196)

For the financial year ending 30 June 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 accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 7 May 2025
 

.........................................
Mr L Beltoft Nielsen
Director

 

King Rollo Films Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
28 Alexandra Terrace
Exmouth
Devon
EX8 1BD

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The director has acknowledged the negative reserves at the balance sheet date and has pledged to continue to support the company so it can meet its obligations as they arise. Therefore the financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

King Rollo Films Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

25% reducing balance

Office equipment

25% straight line

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.

Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Intangible asset

Over the life of the individual projects

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

King Rollo Films Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Loss before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

207

487

Amortisation expense

5,000

-

 

King Rollo Films Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

5

Intangible assets

Trademarks, patents and licenses
 £

Total
£

Cost or valuation

At 1 July 2023

3,460,593

3,460,593

At 30 June 2024

3,460,593

3,460,593

Amortisation

At 1 July 2023

3,450,593

3,450,593

Amortisation charge

5,000

5,000

At 30 June 2024

3,455,593

3,455,593

Carrying amount

At 30 June 2024

5,000

5,000

At 30 June 2023

10,000

10,000

6

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 July 2023

8,838

8,838

At 30 June 2024

8,838

8,838

Depreciation

At 1 July 2023

8,561

8,561

Charge for the year

207

207

At 30 June 2024

8,768

8,768

Carrying amount

At 30 June 2024

70

70

At 30 June 2023

277

277

 

King Rollo Films Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

7

Debtors

2024
£

2023
£

Other debtors

129

38

Total current trade and other debtors

129

38

8

Creditors

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

65,618

68,138

Trade creditors

 

975

975

Other creditors

 

179,707

162,688

Accrued expenses

 

4,889

4,050

 

251,189

235,851

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

3,117

6,660

9

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank borrowings

3,400

3,400

Bank overdrafts

62,218

64,738

65,618

68,138

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

3,117

6,660