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Registered number: 03920465













ILLUMINATED PRODUCTIONS LIMITED
UNAUDITED
FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 JULY 2023

 
ILLUMINATED PRODUCTIONS LIMITED
 

CONTENTS



Page
Statement of financial position
 
1
Notes to the financial statements
 
2 - 4

 
ILLUMINATED PRODUCTIONS LIMITED
REGISTERED NUMBER:03920465

STATEMENT OF FINANCIAL POSITION
AS AT 31 JULY 2023

31 July 2023
31 December 2022
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
594,810
243,118

Cash at bank and in hand
  
90,908
2,046

  
685,718
245,164

Current liabilites
  

Creditors: amounts falling due within one year
 5 
(2,306,969)
(616,494)

Net current liabilities
  
 
 
(1,621,251)
 
 
(371,330)

Total assets less current liabilities
  
(1,621,251)
(371,330)

  

Net liabilities
  
(1,621,251)
(371,330)


Capital and reserves
  

Called up share capital 
 6 
2
2

Profit and loss account
  
(1,621,253)
(371,332)

  
(1,621,251)
(371,330)


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 period 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 on 2 October 2023.



I Harvey
Director

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

Page 1

 
ILLUMINATED PRODUCTIONS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JULY 2023

1.


General information

Illuminated Productions Limited is a private limited liability company registered in England and Wales. Its registered office address is at 5 Elstree Gate, Elstree Way, Borehamwood, Hertfordshire WD6 1JD, and its business address is at 2 Glenthorne Mews, London, W6 0LJ.
The principal activity of the company continued to be that of film and television production.
The company's functional and presentational currency is £ sterling.

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 company made a loss for the period and at the reporting date has net current liabilities and net liabilities. The directors have obtained assurance from the shareholder that funds will be made available to the company so that it will be able to carry on trading and meet its financial obligations as and when they fall due for at least twelve months from the date the accounts are approved. The accounts have therefore been prepared using the going concern basis.

 
2.3

Turnover

Turnover comprises revenue recognised by the company in respect of services supplied during the year, exclusive of Value Added Tax.
Where the company has incomplete productions at the year end, income and expenditure for these productions are recognised so that they reflect the partial performance of the company's contractual obligations. For such productions the amount of revenue reflects the value of the work performed. Revenue due but not received is included in debtors and payments on account in excess of the relevant amount of revenue due are included in creditors.

 
2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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.

 
2.5

Basic financial instruments

The company only enters into transactions that result in basic financial instruments such as trade and other debtors, trade and other creditors, cash at bank and in hand, loans to/from related parties.
Trade debtors, other debtors and loans to related parties are recognised initially at the transaction price less attributable transaction costs. Trade creditors, other creditors and loans from related
Page 2

 
ILLUMINATED PRODUCTIONS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JULY 2023

2.Accounting policies (continued)


2.5
Basic financial instruments (continued)

parties are recognised initially at transaction price plus attributable transaction costs. Subsequently they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade and other debtors, and loans to related parties.
Interest bearing borrowings, such as bank loans, classified as basic financial instruments are recognised initially at the present value of future payments discounted at a maket rate of interest. Thereafter they are stated at amortised cost using the effective interest method.
Cash and cash equivalents comprise cash balances and call deposits. Bank overdrafts that are repayable on demand form an integral part of the company's cash management.


3.


Employees

The average monthly number of employees, including directors, during the period was 2 (2022 - 2).


4.


Debtors

31 July 2023
31 December 2022
£
£


Trade debtors
147,481
-

Other debtors
447,329
243,118

594,810
243,118



5.


Creditors: Amounts falling due within one year

31 July 2023
31 December 2022
£
£

Bank loan
664,855
50,000

Trade creditors
487,414
123,867

Amounts owed to group undertakings
785,617
288,563

Other creditors
37,346
20,965

Accruals and deferred income
331,737
133,099

2,306,969
616,494


The bank loan has been guaranteed by the ultimate parent undertaking.

Page 3

 
ILLUMINATED PRODUCTIONS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JULY 2023

6.


Share capital

31 July 2023
31 December 2022
£
Allotted, called up and fully paid



2 (2022 - 2) Ordinary shares of £1 each
2
2



7.


Parent undertaking

The ultimate parent undertaking is The Illuminated Film Company Limited, whose registered office is at 5 Elstree Gate, Elstree Way, Borehamwood, Hertfordshire, WD6 1JD.

 
Page 4