The Alan Parker Film Co. Limited
Unaudited Financial Statements
For the year ended 30 September 2021
For Filing with Registrar
Company Registration No. 00992650 (England and Wales)
The Alan Parker Film Co. Limited
Contents
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
The Alan Parker Film Co. Limited
Balance Sheet
As at 30 September 2021
Page 1
2021
2020
Notes
£
£
£
£
Fixed assets
Investments
3
6,973
6,973
Current assets
Debtors
6
118,050
80,531
Cash at bank and in hand
161,775
204,143
279,825
284,674
Creditors: amounts falling due within one year
7
(69,558)
(81,354)
Net current assets
210,267
203,320
Net assets
217,240
210,293
Capital and reserves
Called up share capital
8
1,000
1,000
Profit and loss reserves
216,240
209,293
Total equity
217,240
210,293
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 30 September 2021 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.
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.
The Alan Parker Film Co. Limited
Balance Sheet (Continued)
As at 30 September 2021
Page 2
The financial statements were approved by the board of directors and authorised for issue on 26 August 2022 and are signed on its behalf by:
Lady Lisa Parker
Director
Company Registration No. 00992650
The Alan Parker Film Co. Limited
Notes to the Financial Statements
For the year ended 30 September 2021
Page 3
1
Accounting policies
Company information
The Alan Parker Film Co. Limited is a private company limited by shares incorporated in England and Wales. The registered office is Charlotte Building, 17 Gresse Street, London, W1T 1QL.
1.1
Accounting convention
These financial statements have been prepared in accordance with Section 1A of FRS “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 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 £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Exemptions for qualifying entities under FRS 102
The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.
1.3
Going concern
The directors have considered the ongoing impact of COVID-19, and the various measures taken to contain it, on the operations of the business in the near future. The directors continue to monitor the government announcements, and in the event income is impacted significantly they will consider cost cutting measures in order to ensure the long term viability of the business. true
Consequently, the directors are confident that the company will have sufficient funds to continue to meet its liabilities as they fall due for at least 12 months from the date of approval of the financial statements and therefore has prepared the financial statements on a going concern basis.
1.4
Turnover
Revenue is recognised on receipt of royalty statements from collection agents. Where possible income is accrued in respect of royalty statements received post year end relating to income earned in the year. This is the earliest opportunity by which the company obtains the right to consideration in exchange for its performance under these contracts.
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 only has basic financial instruments measured at amortised cost, with no financial instruments classified as other or basic instruments measured at fair value.
The Alan Parker Film Co. Limited
Notes to the Financial Statements (Continued)
For the year ended 30 September 2021
1
Accounting policies
(Continued)
Page 4
1.7
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.8
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
1.9
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 in the period are included in profit or loss.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 1 (2020 - 1).
3
Fixed asset investments
2021
2020
£
£
Investments
6,973
6,973
The Alan Parker Film Co. Limited
Notes to the Financial Statements (Continued)
For the year ended 30 September 2021
3
Fixed asset investments
(Continued)
Page 5
Movements in fixed asset investments
Shares in group undertakings and participating interests
£
Cost or valuation
At 1 October 2020 & 30 September 2021
6,973
Carrying amount
At 30 September 2021
6,973
At 30 September 2020
6,973
4
Subsidiaries
Details of the company's subsidiaries at 30 September 2021 are as follows:
Name of undertaking
Registered
Nature of business
Class of
% Held
office
shares held
Direct
Turnipco Inc
USA
Motion picture and video production
Ordinary
51
5
Associates
Details of the company's associates at 30 September 2021 are as follows:
Name of undertaking
Registered
Nature of business
Class of
% Held
office
shares held
Direct
Bugsy Malone Productions UK Limited
Charlotte Building, 17 Gresse Street, London, W1T 1QL
Motion picture and video production
Ordinary
50
The Alan Parker Film Co. Limited
Notes to the Financial Statements (Continued)
For the year ended 30 September 2021
Page 6
6
Debtors
2021
2020
Amounts falling due within one year:
£
£
Trade debtors
806
Other debtors
118,050
79,725
118,050
80,531
7
Creditors: amounts falling due within one year
2021
2020
£
£
Corporation tax
28,422
19,668
Other creditors
41,136
61,686
69,558
81,354
8
Called up share capital
2021
2020
£
£
Ordinary share capital
1,000 Ordinary shares of £1 each
1,000
1,000
All of the ordinary shares carry full voting and control rights.
9
Related party transactions
During the year, the company continued to make loans to Dirty Hands Productions Limited, a connected company. At year end the balance due from Dirty Hands Productions Limited was £648,709 (2020: £618,709). The amount has been provided for in full as the company was struck off post year end.
At year end, there was a balance of £79,625 (2020: £72,525) due from Bugsy Malone Productions Limited, a connected company.
The company owed a year end balance of £34,186 (2020: £54,186) to the director.
10
Control
The company is controlled by Lady Lisa Parker.