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COMPANY REGISTRATION NUMBER: 10176650
Fifty Fathoms (Guerrilla) Limited
Filleted Financial Statements
21 June 2020
Fifty Fathoms (Guerrilla) Limited
Balance Sheet
21 June 2020
2020
2019
Note
£
£
Current assets
Debtors
5
23,320
1,446,335
Cash at bank and in hand
189
248
--------
------------
23,509
1,446,583
Creditors: amounts falling due within one year
6
( 23,508)
( 1,446,582)
--------
------------
Net current assets
1
1
----
----
Total assets less current liabilities
1
1
----
----
Net assets
1
1
----
----
Capital and reserves
Called up share capital
1
1
----
----
Shareholders funds
1
1
----
----
These financial statements 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 profit and loss account has not been delivered.
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.
These financial statements were approved by the board of directors and authorised for issue on 27 September 2023 , and are signed on behalf of the board by:
H Wright
Director
Company registration number: 10176650
Fifty Fathoms (Guerrilla) Limited
Notes to the Financial Statements
Year ended 21 June 2020
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Shepherds Building Central, Charecroft Way, London, W14 0EE, United Kingdom.
2. Statement of compliance
These financial statements 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 financial statements 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 financial statements are prepared in sterling, which is the functional currency of the entity.
Foreign currencies
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.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. Its financial statements are consolidated into the financial statements of AP NMT JV Newco B.V., a company registered in the Netherlands, which can be obtained from the address disclosed in note 10. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) Disclosures in respect of each class of share capital have not been presented. (b) No cash flow statement has been presented for the company. (c) Disclosures in respect of financial instruments have not been presented.
Judgements and key sources of estimation uncertainty
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 "Turnover" below.
Turnover
Turnover relates to the production of the television series entitled "Guerrilla". 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. Turnover 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.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Intra-group borrowings are debt instruments and are initially measured at present value of the future cash flows and subsequently at amortised cost using an effective interest method.
4. Particulars of employees and directors
The company has been incorporated to produce a television series entitled "Guerrilla". In common with the film and television industry the majority of crew are hired on short term contracts for the duration of principal photography or are self-employed.
None of the Directors received any form of remuneration.
5. Debtors
2020
2019
£
£
Amounts owed by group undertakings
23,320
1,107,373
VAT recoverable
60
Corporation tax recoverable
335,246
Other debtors
3,656
--------
------------
23,320
1,446,335
--------
------------
6. Creditors: amounts falling due within one year
2020
2019
£
£
Amounts owed to group undertakings
115,767
Accruals and deferred income
23,508
993,830
Production loan
336,598
Other creditors
387
--------
------------
23,508
1,446,582
--------
------------
7. Contingencies
Charges have been made against the television series in favour of the following parties to secure their interests in the copyright of and title to the television series: Tiger Aspect Financing Limited
8. Events after the end of the reporting period
On July 2 2020, Banijay Group SAS (through its wholly owned subsidiary, Banijay Entertainment S.A.S) completed the acquisition of all the shares of AP NMT JV Newco B.V. (the indirect parent of Fifty Fathoms (Guerrilla) Limited ) after having met all regulatory approvals and closing conditions. Therefore from that date the smallest group in which the results of the Company are consolidated is that headed by Banijay Group S.A.S Financial statements for Banijay Group S.A.S are publicly available and can be be obtained from 5, 5, rue François 1er - 75 008 Paris (France).
9. Summary audit opinion
The auditor's report for the year dated 3 October 2023 was unqualified .
The senior statutory auditor was Stephen Joberns , for and on behalf of Shipleys LLP .
10. Related party transactions
As a wholly-owned subsidiary of Fifty Fathoms Productions Limited and ultimately AP NMT JV Newco B.V. (note 10), whose financial statements are publicly available, the Company has taken advantage of the exemption under FRS 102 Paragraph 33.1A on the basis that disclosure need not be given regarding related party transactions with other wholly-owned subsidiaries of the group.
11. Controlling party
The immediate parent undertaking is Fifty Fathoms Productions Limited which is incorporated in Great Britain and registered in England and Wales. The smallest group in which the results of the Company are consolidated is that headed by MediArena Acquisition B.V.. Financial statements for MediArena Acquisition B.V. are publicly available and can be obtained from MediArena 1, 1114 BC Amsterdam-Duivendrecht, PO Box 12133, 1100 AC Amsterdam, the Netherlands.