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REGISTERED NUMBER: 09914511 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2022

for

Sunrise Films Limited

Sunrise Films Limited (Registered number: 09914511)

Contents of the Financial Statements
for the Year Ended 31 December 2022










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Sunrise Films Limited

Company Information
for the Year Ended 31 December 2022







DIRECTORS: R Preston
N G Williams





SECRETARY: R Preston





REGISTERED OFFICE: Hammingden Place
Hammingden Lane
Ardingly
Haywards Heath
West Sussex
RH17 6SR





REGISTERED NUMBER: 09914511 (England and Wales)





ACCOUNTANTS: Byrne & Company
Chartered Accountant
Suite 1532
26 Upper Pembroke Street
Dublin 2
IRELAND
D02 X361

Sunrise Films Limited (Registered number: 09914511)

Balance Sheet
31 December 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Investments 4 100 -

CURRENT ASSETS
Stocks 5 324,663 291,387
Debtors 6 7,000 -
Cash at bank and in hand 31,243 440
362,906 291,827
CREDITORS
Amounts falling due within one year 7 291,901 293,724
NET CURRENT ASSETS/(LIABILITIES) 71,005 (1,897 )
TOTAL ASSETS LESS CURRENT LIABILITIES 71,105 (1,897 )

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 9 71,005 (1,997 )
SHAREHOLDERS' FUNDS 71,105 (1,897 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 September 2023 and were signed on its behalf by:





N G Williams - Director


Sunrise Films Limited (Registered number: 09914511)

Notes to the Financial Statements
for the Year Ended 31 December 2022


1. STATUTORY INFORMATION

Sunrise Films Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going Concern

In the directors' opinion, and to the best of their knowledge, the increasingly unsettled global economic conditions, increased inflationary and interest rate environment and COVID-19 will not have a material adverse impact on the company's ability to continue as a going concern.

The directors have a reasonable expectation that the company has adequate resources, including financial support from the shareholder, to meet its obligations and manage its business risks successfully for a period of at least 12 months from the date of approval of the financial statements, and to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Critical accounting judgements and key sources of estimation uncertainty
The preparation of these financial statements requires management to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets and liabilities, income and expenses.

Judgements and estimates are continually evaluated and are based on historical experiences and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

The directors makes estimates and assumptions concerning the future. The resulting accounting estimates, will by definition, seldom equal the related actual results. There are no estimates or assumptions that have a significant risk of causing a material adjustment to the carrying amount of the assets and liabilities within the next financial year.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks and work-in-progress
Production work in progress is stated at the lower of cost and net realisable value.

Cost includes all expenditure which has been incurred in the normal course of business in bringing the film production to its present stage of completion less all amounts expensed to the profit and loss account in line with revenue recognition.

Net realisable value is the actual or estimated selling price of the film net of trade discounts, at its present stage of completion less all further costs to completion of production.

Deferred income is recognised on payments for goods and services that the company has received from its customers before such goods and services have delivered or performed.

Sunrise Films Limited (Registered number: 09914511)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022


2. ACCOUNTING POLICIES - continued

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.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Non-basic financial assets
Financial assets, including loan instruments acquired as investments, which are on terms that do not fall to be treated as basic financial instruments, are treated as non-basic financial instruments.
Non-basic financial instruments are initial recognised at fair value on the date acquired and are subsequently re-measured at their fair value. Changes in the fair value of non-basic financial instruments are recognised in the profit and loss account in finance costs or income as appropriate.

Impairment of financial assets
At the end of each reporting period, the company assesses whether there is objective evidence of impairment of any financial assets that are measured at cost or amortised cost, including unlisted investments, loans, trade debtors and cash. If there is objective evidence of impairment, impairment losses are recognised in the Profit and Loss account in that financial year.

Classification of financial liabilities
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 company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Loans from directors who are natural persons and shareholders in the company (or close members of the family of such persons) are initially measured at transaction price and not discounted on subsequent measurement.

Ordinary Share Capital
The ordinary share capital of the company is presented as equity.

Unlisted Investments
The company holds investments in unlisted non-puttable equity shares of a number of entities. It is considered by the directors that the fair value of these shares cannot be measured reliably. These investments are measured at cost less impairment.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Sunrise Films Limited (Registered number: 09914511)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 2 ) .

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
Additions 100
At 31 December 2022 100
NET BOOK VALUE
At 31 December 2022 100

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Gassed Limited
Registered office: 20-22 Wenlock Road, London N1 7GU, England.
Nature of business: Film production.
%
Class of shares: holding
Ordinary 100.00
10.5.23
£   
Aggregate capital and reserves 100

5. STOCKS
2022 2021
£    £   
Work-in-progress 324,663 291,387

Work in progress comprises costs incurred to date in bringing currently slated media projects to their current state of completion.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 7,000 -

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Amounts owed to group undertakings 268,250 293,724
Tax 16,655 -
VAT 6,996 -
291,901 293,724

Sunrise Films Limited (Registered number: 09914511)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022


8. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
10,000 Ordinary 0.01 100 100

9. RESERVES
Retained
earnings
£   

At 1 January 2022 (1,997 )
Profit for the year 73,002
At 31 December 2022 71,005

10. RELATED PARTY DISCLOSURES

Amounts owed by(to) group companies:




Opening balance
Advances/Invoice
s
Repayments/
Payments

Closing balance
£   £   £   £   
Veranding Limited(293,724)(30,000)55,474(268,250)
Gassed Limited - trade debtors-78,900(71,900)7,000
(293,724)48,900(16,426)(261,250)

11. ULTIMATE CONTROLLING PARTY

The controlling party is Veranding Limited.

The ultimate controlling party is N G Williams.