Company Registration No. 06914698 (England and Wales)
Timeless Films Limited
Annual report and unaudited financial statements
For the year ended 31 August 2017
Pages for filing with registrar
TIMELESS FILMS LIMITED
COMPANY INFORMATION
Directors
G R Kamp
L J Kamp
R M Kamp
R M Kamp
Secretary
MGRWK Company Secretaries Limited
Company number
06914698
Registered office
55 Loudoun Road
St John's Wood
London
Accountants
MGR Weston Kay LLP
55 Loudoun Road
St John's Wood
London
NW8 0DL
TIMELESS FILMS LIMITED
CONTENTS
Page
Statement of comprehensive income
1
Balance sheet
2 - 3
Statement of changes in equity
4
Notes to the financial statements
5 - 7
TIMELESS FILMS LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 AUGUST 2017
- 1 -
2017
2016
£
£
Profit for the year
250,665
45,912
Other comprehensive income
-
-
Total comprehensive income for the year
250,665
45,912
TIMELESS FILMS LIMITED
BALANCE SHEET
AS AT
31 AUGUST 2017
- 2 -
2017
2016
Notes
£
£
£
£
Fixed assets
Tangible assets
3
7,485
6,151
Current assets
Debtors
4
105,173
75,074
Cash at bank and in hand
140,019
63,480
245,192
138,554
Creditors: amounts falling due within one year
5
(446,356)
(589,147)
Net current liabilities
(201,164)
(450,593)
Total assets less current liabilities
(193,679)
(444,442)
Capital and reserves
Called up share capital
6
100
2
Profit and loss reserves
(193,779)
(444,444)
Total equity
(193,679)
(444,442)

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 August 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Act 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.

TIMELESS FILMS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 AUGUST 2017
- 3 -
The financial statements were approved by the board of directors and authorised for issue on
2 March 2018
and are signed on its behalf by:
R M Kamp
Director
Company Registration No. 06914698
TIMELESS FILMS LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 AUGUST 2017
- 4 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 September 2015
2
(490,357)
(490,355)
Year ended 31 August 2016:
Profit and total comprehensive income for the year
-
45,912
45,912
Balance at 31 August 2016
2
(444,444)
(444,442)
Year ended 31 August 2017:
Profit and total comprehensive income for the year
-
250,665
250,665
Issue of share capital
6
98
-
98
Balance at 31 August 2017
100
(193,779)
(193,679)
TIMELESS FILMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2017
- 5 -
1
Accounting policies
Company information

Timeless Films Limited is a private company limited by shares incorporated in England and Wales. The registered office is 55 Loudoun Road, St John's Wood, London.

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 disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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 £.

1.2
Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover represents amounts receivable for services net of VAT.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation 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:

Fixtures, fittings & equipment
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
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.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

1.7
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

TIMELESS FILMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2017
1
Accounting policies
(Continued)
- 6 -
1.8
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 are included in the profit and loss account for the period.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 4 (2016 - 4).

3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 September 2016
20,561
Additions
3,827
At 31 August 2017
24,388
Depreciation and impairment
At 1 September 2016
14,410
Depreciation charged in the year
2,493
At 31 August 2017
16,903
Carrying amount
At 31 August 2017
7,485
At 31 August 2016
6,151
4
Debtors
2017
2016
Amounts falling due within one year:
£
£
Trade debtors
48,790
51,718
Other debtors
56,383
23,356
105,173
75,074
TIMELESS FILMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2017
- 7 -
5
Creditors: amounts falling due within one year
2017
2016
£
£
Trade creditors
17,204
26,513
Other taxation and social security
2,792
5,806
Other creditors
426,360
556,828
446,356
589,147
6
Called up share capital
2017
2016
£
£
Ordinary share capital
Issued and fully paid
100 Ordinary shares of £1 each
100
2
7
Control

The ultimate controlling parties, which have remained unchanged from the previous year, are the directors by virtue of their combined shareholding in the company.

8
Related party transactions

R M Kamp and L J Kamp are directors and shareholders of the company. At year end, the company owed them £420,840 (2016: £553,328).

2017-08-312016-09-01falseCCH SoftwareCCH Accounts Production 2017.300No description of principal activity06 March 2018069146982016-09-012017-08-3106914698bus:Director12016-09-012017-08-3106914698bus:Director22016-09-012017-08-3106914698bus:Director32016-09-012017-08-3106914698bus:Director42016-09-012017-08-3106914698bus:CompanySecretary12016-09-012017-08-3106914698bus:RegisteredOffice2016-09-012017-08-31069146982015-09-012016-08-31069146982017-08-31069146982016-08-3106914698core:OtherPropertyPlantEquipment2017-08-3106914698core:OtherPropertyPlantEquipment2016-08-3106914698core:CurrentFinancialInstruments2017-08-3106914698core:CurrentFinancialInstruments2016-08-3106914698core:Non-currentFinancialInstruments2017-08-3106914698core:ShareCapital2017-08-3106914698core:ShareCapital2016-08-3106914698core:RetainedEarningsAccumulatedLosses2017-08-3106914698core:RetainedEarningsAccumulatedLosses2016-08-3106914698core:ShareCapitalcore:RestatedAmount2015-08-3106914698core:RetainedEarningsAccumulatedLossescore:RestatedAmount2015-08-3106914698core:RestatedAmount2015-08-3106914698core:ShareCapital2016-09-012017-08-3106914698core:FurnitureFittings2016-09-012017-08-3106914698core:OtherPropertyPlantEquipment2016-08-3106914698core:OtherPropertyPlantEquipment2016-09-012017-08-3106914698bus:PrivateLimitedCompanyLtd2016-09-012017-08-3106914698bus:FRS1022016-09-012017-08-3106914698bus:AuditExemptWithAccountantsReport2016-09-012017-08-3106914698bus:SmallCompaniesRegimeForAccounts2016-09-012017-08-3106914698bus:FullAccounts2016-09-012017-08-31xbrli:purexbrli:sharesiso4217:GBP

Options

Monitor

  • Receive an alert email on changes to financial status
  • Early indications of liquidity problems
  • Warns when company reporting is overdue
  • Free service, no spam emails
Monitor Now

Please Help Us!

Was this document useful to you? Please Like our page. The more Likes we get, the more documents we can supply you free. Thanks.