6
false
false
false
false
false
false
false
false
false
true
false
false
false
false
false
false
No description of principal activity
2021-01-01
Sage Accounts Production Advanced 2021 - FRS102_2021
5,947
3,294
9,241
1,126
2,874
4,000
5,241
4,821
1
1
1
xbrli:pure
xbrli:shares
iso4217:GBP
12341973
2021-01-01
2021-12-31
12341973
2021-12-31
12341973
2020-12-31
12341973
2019-12-02
2020-12-31
12341973
2020-12-31
12341973
bus:OrdinaryShareClass1
2021-01-01
2021-12-31
12341973
bus:OrdinaryShareClass2
2021-01-01
2021-12-31
12341973
bus:OrdinaryShareClass3
2021-01-01
2021-12-31
12341973
bus:Director1
2021-01-01
2021-12-31
12341973
core:WithinOneYear
2021-12-31
12341973
core:WithinOneYear
2020-12-31
12341973
core:ShareCapital
2021-12-31
12341973
core:ShareCapital
2020-12-31
12341973
core:SharePremium
2021-12-31
12341973
core:SharePremium
2020-12-31
12341973
core:RetainedEarningsAccumulatedLosses
2021-12-31
12341973
core:RetainedEarningsAccumulatedLosses
2020-12-31
12341973
core:CostValuation
core:Non-currentFinancialInstruments
2021-12-31
12341973
core:Non-currentFinancialInstruments
2021-12-31
12341973
core:Non-currentFinancialInstruments
2020-12-31
12341973
bus:SmallEntities
2021-01-01
2021-12-31
12341973
bus:AuditExempt-NoAccountantsReport
2021-01-01
2021-12-31
12341973
bus:FullAccounts
2021-01-01
2021-12-31
12341973
bus:SmallCompaniesRegimeForAccounts
2021-01-01
2021-12-31
12341973
bus:PrivateLimitedCompanyLtd
2021-01-01
2021-12-31
12341973
bus:OrdinaryShareClass1
2021-12-31
12341973
bus:OrdinaryShareClass1
2020-12-31
12341973
bus:OrdinaryShareClass2
2021-12-31
12341973
bus:OrdinaryShareClass2
2020-12-31
12341973
bus:OrdinaryShareClass3
2021-12-31
12341973
bus:OrdinaryShareClass3
2020-12-31
12341973
bus:AllOrdinaryShares
2021-12-31
12341973
bus:AllOrdinaryShares
2020-12-31
12341973
core:ComputerEquipment
2021-01-01
2021-12-31
12341973
core:ComputerEquipment
2020-12-31
12341973
core:ComputerEquipment
2021-12-31
12341973
core:KeyManagementIndividualGroup1
2021-01-01
2021-12-31
12341973
1
2021-01-01
2021-12-31
COMPANY REGISTRATION NUMBER:
12341973
Filleted Unaudited Accounts |
|
Statement of Financial Position |
|
31 December 2021
Fixed assets
Tangible assets |
5 |
5,241 |
4,821 |
Investments |
6 |
1 |
1 |
|
------- |
------- |
|
5,242 |
4,822 |
|
|
|
|
Current assets
Work in progress |
129,875 |
86,740 |
Debtors |
7 |
636,491 |
60,551 |
Cash at bank and in hand |
217,918 |
1,392,718 |
|
--------- |
------------ |
|
984,284 |
1,540,009 |
|
|
|
|
Creditors: amounts falling due within one year |
8 |
109,471 |
38,970 |
|
--------- |
------------ |
Net current assets |
874,813 |
1,501,039 |
|
--------- |
------------ |
Total assets less current liabilities |
880,055 |
1,505,861 |
|
--------- |
------------ |
Net assets |
880,055 |
1,505,861 |
|
--------- |
------------ |
|
|
|
|
Capital and reserves
Called up share capital |
9 |
100 |
100 |
Share premium account |
1,999,935 |
1,999,935 |
Profit and loss account |
(
1,119,980) |
(
494,174) |
|
------------ |
------------ |
Shareholders funds |
880,055 |
1,505,861 |
|
------------ |
------------ |
|
|
|
|
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 31 December 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 accounts 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 accounts
.
Statement of Financial Position (continued) |
|
31 December 2021
These accounts were approved by the
board of directors
and authorised for issue on
13 September 2022
, and are signed on behalf of the board by:
Company registration number:
12341973
Year ended 31 December 2021
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 10 Orange Street, Haymarket, London, WC2H 7DQ, United Kingdom.
2.
Statement of compliance
These accounts have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The accounts have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The accounts are prepared in sterling, which is the functional currency of the entity.
Foreign currency
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Significant estimation technique adopted
Accruals are estimated by reference to purchase orders raised at the period end and estimates to complete. Payments received on account are estimated by reference to percentage of completion of the television production, as noted in "Revenue recognition" below.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying small entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under section 1A of FRS 102: (a) No cash flow statement has been presented for the company. (b) Disclosures in respect of financial instruments have not been presented.
Revenue recognition
Turnover relates to the production of television series. It represents the value of the work done in the period, including estimates of amounts not invoiced and is stated after trade discounts, other taxes and net of VAT. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Equipment |
- |
33% straight line |
|
|
|
|
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Work in progress
Work in progress represents the cost of various film and television projects on which the company is currently in development. An assessment is made at the end of each financial period and those projects which are no longer likely to go into production are written off.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
6
(2020:
4
).
5.
Tangible assets
|
Equipment |
|
£ |
Cost |
|
At 1 January 2021 |
5,947 |
Additions |
3,294 |
|
------- |
At 31 December 2021 |
9,241 |
|
------- |
Depreciation |
|
At 1 January 2021 |
1,126 |
Charge for the year |
2,874 |
|
------- |
At 31 December 2021 |
4,000 |
|
------- |
Carrying amount |
|
At 31 December 2021 |
5,241 |
|
------- |
At 31 December 2020 |
4,821 |
|
------- |
|
|
6.
Investments
|
Investments |
|
£ |
Cost |
|
At 1 January 2021 and 31 December 2021 |
1 |
|
---- |
Impairment |
|
At 1 January 2021 and 31 December 2021 |
– |
|
---- |
|
|
Carrying amount |
|
At 31 December 2021 |
1 |
|
---- |
At 31 December 2020 |
1 |
|
---- |
|
|
7.
Debtors
|
2021 |
2020 |
|
£ |
£ |
Trade debtors |
16,111 |
52,652 |
Amounts owed by group undertakings |
540 |
– |
Prepayments and accrued income |
897 |
– |
VAT recoverable |
– |
664 |
Other debtors |
618,943 |
7,235 |
|
--------- |
-------- |
|
636,491 |
60,551 |
|
--------- |
-------- |
|
|
|
8.
Creditors:
amounts falling due within one year
|
2021 |
2020 |
|
£ |
£ |
Trade creditors |
8,425 |
12,883 |
Accruals and deferred income |
38,122 |
10,001 |
Social security and other taxes |
53,473 |
– |
Other creditors |
9,451 |
16,086 |
|
--------- |
-------- |
|
109,471 |
38,970 |
|
--------- |
-------- |
|
|
|
9.
Called up share capital
Issued, called up and fully paid
|
2021 |
2020 |
|
No. |
£ |
No. |
£ |
Ordinary Class A shares of £ 0.10 each |
300 |
30 |
300 |
30 |
Ordinary Class B shares of £ 0.10 each |
50 |
5 |
50 |
5 |
Ordinary Class C shares of £ 0.10 each |
650 |
65 |
650 |
65 |
|
------- |
---- |
------- |
---- |
|
1,000 |
100 |
1,000 |
100 |
|
------- |
---- |
------- |
---- |
|
|
|
|
|
10.
Related party transactions
During the year the following related-party transactions took place. All transactions related to the production of television series and arose on an arm's-length basis through the normal course of business. £610k of other debtors were due from Newen SA, the ultimate parent of the company. £9.1k of accruals were due to Newen SA, the ultimate parent of the company.
11.
Controlling party
The company was under the control of
Newen SA
throughout the period.