Caseware UK (AP4) 2021.0.152 2021.0.152 2021-11-302021-11-30false2truefalse2020-12-01No description of principal activity2The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 11677725 2020-12-01 2021-11-30 11677725 2019-12-01 2020-11-30 11677725 2021-11-30 11677725 2020-11-30 11677725 c:Director1 2020-12-01 2021-11-30 11677725 d:CurrentFinancialInstruments 2021-11-30 11677725 d:CurrentFinancialInstruments 2020-11-30 11677725 d:CurrentFinancialInstruments d:WithinOneYear 2021-11-30 11677725 d:CurrentFinancialInstruments d:WithinOneYear 2020-11-30 11677725 d:ShareCapital 2021-11-30 11677725 d:ShareCapital 2020-11-30 11677725 c:FRS102 2020-12-01 2021-11-30 11677725 c:AuditExempt-NoAccountantsReport 2020-12-01 2021-11-30 11677725 c:FullAccounts 2020-12-01 2021-11-30 11677725 c:PrivateLimitedCompanyLtd 2020-12-01 2021-11-30 iso4217:GBP xbrli:pure

Registered number: 11677725









SAR FILMS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 NOVEMBER 2021

 
SAR FILMS LIMITED
REGISTERED NUMBER: 11677725

STATEMENT OF FINANCIAL POSITION
AS AT 30 NOVEMBER 2021

2021
2021
2020
2020
Note
£
£
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
632,820
785,607

Cash at bank and in hand
  
182,329
46,505

  
815,149
832,112

Creditors: amounts falling due within one year
 5 
(815,147)
(832,110)

Net current assets
  
 
 
2
 
 
2

  

Net assets
  
2
2


Capital and reserves
  

Called up share capital 
  
2
2

  
2
2


The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




John Battsek
Director

Date: 10 August 2022

The notes on pages 2 to 4 form part of these financial statements.

Page 1

 
SAR FILMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2021

1.


General information

SAR Films Limited is a private company limited by shares incorporated in the United Kingdom and registered in England. The address of its registered office is 6th Floor, Charlotte Building, 17 Gresse Street, London, W1T 1QL.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors have considered the impact that Covid-19 has had on the business and have a reasonable expectation that the company will continue in operational existence for the foreseeable future. As a result, the directors believe that the company will have sufficient funds to settle all of its debts as they fall due for at least 12 months from signing the accounts and have therefore prepared these financial statements on the going concern basis.

 
2.3

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss.

 
2.4

Revenue

Turnover comprises production income received. Production income is recognised in the Statement of comprehensive income in the period it is contractually due and expended on production and other costs.
Where revenue received exceeds costs incurred to date and profits are not anticipated, the balance is treated as deferred income and held on the Statement of financial position until further costs are incurred or profits anticipated. At this point the deferred income is released to the Statement of comprehensive income.

Page 2

 
SAR FILMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2021

2.Accounting policies (continued)

  
2.5

Cost of sales

Production costs incurred in producing a film are recognised in the Statement of comprehensive income as cost of sales in the period in which they are incurred.

 
2.6

Taxation

Tax is recognised in profit or loss. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates income.

The company is eligible to claim a tax credit on film production costs. The tax credit comprises relief based on total net costs and an additional deduction for enhanceable expenditure. The company claims a payment based on the amount of enhanced expenditure and carries losses arising from total net costs forward against future profits.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.9

Creditors

Short-term creditors are measured at the transaction price.

 
2.10

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2020 - 2).


4.


Debtors

2021
2020
£
£


Trade debtors
265,562
-

Other debtors
52,042
117,040

Tax recoverable
315,216
668,567

632,820
785,607


Page 3

 
SAR FILMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2021

5.


Creditors: Amounts falling due within one year

2021
2020
£
£

Trade creditors
135,235
157,736

Other creditors
41
41

Accruals and deferred income
679,871
674,333

815,147
832,110



6.


Related party transactions

The company is exempt from disclosing related party transactions with companies that are wholly owned within its group.

 
Page 4