Registration number:
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Hunky Dory Films Limited
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Hunky Dory Films Limited
Contents
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Company Information |
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Statement of Financial Position |
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Notes to the Unaudited Financial Statements |
Hunky Dory Films Limited
Company Information
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Director |
J Finn |
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Registered office |
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Accountants |
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Hunky Dory Films Limited
Statement of Financial Position as at 31 March 2024
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Note |
2024 |
2023 |
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Fixed assets |
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Intangible assets |
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Current assets |
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Debtors |
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Creditors: Amounts falling due within one year |
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Net current liabilities |
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Net assets |
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Capital and reserves |
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Called up share capital |
3 |
3 |
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Shareholders' funds |
3 |
3 |
For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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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 provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.
Approved and authorised by the
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J Finn
Director
Company registration number: 07195120
Hunky Dory Films Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
The principal activity of the company is that of a producer and distributor of a feature film.
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Accounting policies |
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' Section 1A and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.
Summary of significant accounting policies
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.
Going concern
The company's obligations to its creditors are contractually payable by a Collection Agent from income arising from the exploitation of the Intangible Asset that comprises Film Rights. The directors of the company have undertaken to met the company's administrative expenses.
On the basis of the above, and after making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the exploitation of the company's film rights in the ordinary course of the company's activities. Turnover is shown net of sales/value added tax and discounts.
Tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax, with the following exceptions:
Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.
Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences.
Hunky Dory Films Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024
Intangible assets
Intangible fixed assets comprises film rights. The value of the intangible asset is directly related to the amount of loans still to be repaid and included in creditors due within one year. The net realisable value of intangible assets corresponds with the carrying value and therefore no amortisation charge arises.
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.
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Staff numbers |
The average number of persons employed by the company during the year, was
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Intangible assets |
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Film Rights |
Total |
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Cost or valuation |
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At 1 April 2023 |
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At 31 March 2024 |
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Amortisation |
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At 1 April 2023 |
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At 31 March 2024 |
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Carrying amount |
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At 31 March 2024 |
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At 31 March 2023 |
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