Company Registration No. 04399568 (England and Wales)
ACAMAR FILMS LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2014
ACAMAR FILMS LIMITED
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 5
ACAMAR FILMS LIMITED
ABBREVIATED BALANCE SHEET
AS AT
30 SEPTEMBER 2014
30 September 2014
- 1 -
2014
2013
Notes
£
£
£
£
Fixed assets
Tangible assets
1
145,922
152,582
Investments
2
2
2
145,924
152,584
Current assets
Debtors
514,397
393,242
Cash at bank and in hand
26,591
204,607
540,988
597,849
Creditors: amounts falling due within one year
(2,116,664)
(2,206,458)
Net current liabilities
(1,575,676)
(1,608,609)
Total assets less current liabilities
(1,429,752)
(1,456,025)
Creditors: amounts falling due after more than one year
-
(2,000,000)
(1,429,752)
(3,456,025)
Capital and reserves
Called up share capital
4
2,727,025
500,425
Share premium account
2,023,895
-
Profit and loss account
(6,180,672)
(3,956,450)
Shareholders' funds
(1,429,752)
(3,456,025)
ACAMAR FILMS LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
30 SEPTEMBER 2014
30 September 2014
- 2 -
For the financial year ended 30 September 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
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;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 21 June 2015
Mr Mikael Shields
Director
Company Registration No. 04399568
ACAMAR FILMS LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2014
30 September 2014
- 3 -
1
Fixed assets
Tangible assets
Investments
Total
£
£
£
Cost
At 1 October 2013
230,062
2
230,064
Additions
38,669
38,669
At 30 September 2014
268,731
2
268,733
Depreciation
At 1 October 2013
77,481
-
77,481
Charge for the year
45,328
-
45,328
At 30 September 2014
122,809
-
122,809
Net book value
At 30 September 2014
145,922
2
145,924
At 30 September 2013
152,582
2
152,584
2
Investments in subsidiaries
Shares in group undertakings and participating interests
£
Cost
At 1 October 2013
2
At 30 September 2014
2
Net book value
At 30 September 2014
2
At 30 September 2013
2
3
Accounting policies
ACAMAR FILMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2014
3
Accounting policies
(Continued)
- 4 -
3.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
The company is the parent undertaking of a small group and as such is not required by the Companies Act 2006 to prepare group accounts. These financial statements therefore present information about the company as an individual undertaking and not about its group. The financial statements are drawn up on a going concern basis. The Directors are satisfied that this is appropriate given that they have raised further funds of £1,413,000.
3.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
3.3
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Land and buildings Leasehold
Straight line depreciation over 34 months
Plant and machinery
25% depreciation on a reducing balance basis
Fixtures, fittings & equipment
25% depreciation on a reducing balance basis
3.4
Revenue
Television sales
Revenue derived from the sale of television programme series is stated including withholding tax but excluding value added tax. The revenue and associated costs are recognised in the profit and loss account when all of the following criteria are met:
A)
A license agreement has been executed by both parties
B)
The episode has met all necessary technical quality requirement with the commissioning broadcaster
C)
The episode is available for delivery to the broadcaster
D)
The license term has commenced
E)
The arrangement is fixed or determinable
F)
Collection of the revenue is reasonably assured
3.5
Other licensing & DVD revenue
Minimum guarantees in respect of other Licensing, Publishing, TV Agency and DVD revenues are recognised in the profit and loss account when the following criteria are met:
A)
A license agreement has been executed by both parties
B)
The programme or other materials have met all the necessary technical quality requirements with the Licensee
C)
The license term has commenced
D)
The arrangement is fixed or determinable
E)
Collection of the revenue is reasonably assured
F)
All conditions of the contract have been met
Additional licensing revenue is recognised when the income has been notified.
ACAMAR FILMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2014
3
Accounting policies
(Continued)
- 5 -
3.6
Programme costs
Development expenditure is expensed through the profit and loss account as incurred.
Costs incurred in the production of television programmes is capitalised as intangible fixed assets and amortised against expected future income. Intangible fixed assets are subject to review for impairment and provision is made against costs that are not supported by contracted future income.
4
Share capital
2014
2013
£
£
Allotted, called up and fully paid
A Ordinary shares of £0.0001 each
425
425
B Ordinary shares of £1.00 each
2,726,600
500,000
2,727,025
500,425