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Registration number: 08395798

From A Jack To A King Limited
 

 
Annual Report and Unaudited Abbreviated Accounts
 

 
for the Year Ended 28 February 2015
 

DRP + Co Accountants Limited
Upper Floor
6 St John's Court
Enterprise Park
Swansea
C & C of Swansea
SA6 8QQ

 

From A Jack To A King Limited
Contents

Abbreviated Balance Sheet

1 to 2

Notes to the Abbreviated Accounts

3 to 4

 

From A Jack To A King Limited
(Registration number: 08395798)
Abbreviated Balance Sheet at 28 February 2015

   

Note

   

2015
£

   

2014
£

 

Fixed assets

 

             

Tangible fixed assets

 

   

600

   

800

 

Current assets

 

             

Debtors

 

   

264,894

   

183,895

 

Cash at bank and in hand

 

   

24,666

   

104,229

 
   

   

289,560

   

288,124

 

Creditors: Amounts falling due within one year

 

   

(12,517)

   

(19,199)

 

Net current assets

 

   

277,043

   

268,925

 

Total assets less current liabilities

 

   

277,643

   

269,725

 

Creditors: Amounts falling due after more than one year

 

   

(1,161,151)

   

(700,000)

 

Provisions for liabilities

 

   

(120)

   

-

 

Net liabilities

 

   

(883,628)

   

(430,275)

 

Capital and reserves

 

             

Called up share capital

 

3

   

100

   

100

 

Profit and loss account

 

   

(883,728)

   

(430,375)

 

Shareholders' deficit

 

   

(883,628)

   

(430,275)

 

For the year ending 28 February 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 18 June 2015 and signed on its behalf by:

.........................................
Mr Edward Alan Thomas
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 1

 

From A Jack To A King Limited
(Registration number: 08395798)
Abbreviated Balance Sheet at 28 February 2015
......... continued

.........................................
Mr Maldwyn Lloyd Pope
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

 

From A Jack To A King Limited
Notes to the Abbreviated Accounts for the Year Ended 28 February 2015
......... continued

1

Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Going concern

To finance the production of the film From A Jack to A King, Swansea City FC Limited have made unsecured interest free advances to the company of £1,200,000, of which £1,161,150.42 remains outstanding at 28th February 2015.
The directors are confident that future sales will be sufficient to enable the company to meet its liabilities as they fall due. Future profits will be allocated to repayment of the outstanding advances.
The directors of Swansea City FC Limited have agreed that repayments will be limited to future profits from the sale of the film rights of From A Jack to A King.
As a consequence of the above agreement the directors are confident that the company will be able to meet its other liabilities as and when they fall due. As a result they have adopted the going concern basis.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class

Depreciation method and rate

Office equipment

20% straightline method

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Debtors

Corporate tax credit included as othe debtors represents the Film tax credit based on eligible enhanced production exepnditure.



Creditors

Other creditors comprises of interest free advances from Swansea City FC Limited, with no set trems of repayments.

 

From A Jack To A King Limited
Notes to the Abbreviated Accounts for the Year Ended 28 February 2015
......... continued

2

Fixed assets

   

Tangible assets
£

   

Total
£

 

Cost

           

At 1 March 2014

 

1,000

   

1,000

 

At 28 February 2015

 

1,000

   

1,000

 

Depreciation

           

At 1 March 2014

 

200

   

200

 

Charge for the year

 

200

   

200

 

At 28 February 2015

 

400

   

400

 

Net book value

           

At 28 February 2015

 

600

   

600

 

At 28 February 2014

 

800

   

800

 

3

Share capital

Allotted, called up and fully paid shares

 

2015

2014

   

No.

   

£

   

No.

   

£

 

Ordinary shares of £1 each

 

100

   

100

   

100

   

100

 
                         

4

Control

YJB Films Limited (incorporated in England and Wales) is regarded by the directors as being the company's ultimate parent company.