Caseware UK (AP4) 2022.0.179 2022.0.179 2022-01-01falseNo description of principal activity2421truetrue 02144909 2022-01-01 2023-04-30 02144909 2021-01-01 2021-12-31 02144909 2023-04-30 02144909 2021-12-31 02144909 c:Director1 2022-01-01 2023-04-30 02144909 d:Buildings d:LongLeaseholdAssets 2022-01-01 2023-04-30 02144909 d:Buildings d:LongLeaseholdAssets 2023-04-30 02144909 d:Buildings d:LongLeaseholdAssets 2021-12-31 02144909 d:MotorVehicles 2022-01-01 2023-04-30 02144909 d:MotorVehicles 2023-04-30 02144909 d:MotorVehicles 2021-12-31 02144909 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-01-01 2023-04-30 02144909 d:FurnitureFittings 2022-01-01 2023-04-30 02144909 d:FurnitureFittings 2023-04-30 02144909 d:FurnitureFittings 2021-12-31 02144909 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-01-01 2023-04-30 02144909 d:ComputerEquipment 2022-01-01 2023-04-30 02144909 d:ComputerEquipment 2023-04-30 02144909 d:ComputerEquipment 2021-12-31 02144909 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-01-01 2023-04-30 02144909 d:OwnedOrFreeholdAssets 2022-01-01 2023-04-30 02144909 d:CurrentFinancialInstruments 2023-04-30 02144909 d:CurrentFinancialInstruments 2021-12-31 02144909 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 02144909 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 02144909 d:ShareCapital 2023-04-30 02144909 d:ShareCapital 2021-12-31 02144909 d:RetainedEarningsAccumulatedLosses 2023-04-30 02144909 d:RetainedEarningsAccumulatedLosses 2021-12-31 02144909 c:FRS102 2022-01-01 2023-04-30 02144909 c:Audited 2022-01-01 2023-04-30 02144909 c:FullAccounts 2022-01-01 2023-04-30 02144909 c:PrivateLimitedCompanyLtd 2022-01-01 2023-04-30 02144909 d:WithinOneYear 2023-04-30 02144909 d:WithinOneYear 2021-12-31 02144909 d:BetweenOneFiveYears 2023-04-30 02144909 d:BetweenOneFiveYears 2021-12-31 02144909 c:SmallCompaniesRegimeForAccounts 2022-01-01 2023-04-30 02144909 2 2022-01-01 2023-04-30 iso4217:GBP xbrli:pure

Registered number: 02144909









Once Upon a Time Content Limited (formerly The Special Treats Production Company Limited)









Financial statements

Information for filing with the registrar

For the Period Ended 30 April 2023

 
Once Upon a Time Content Limited (formerly The Special Treats Production Company Limited)
Registered number: 02144909

Statement of Financial Position
As at 30 April 2023

30 April
Unaudited
31 December
2023
2021
Note
£
£

Fixed assets
  

Tangible assets
 4 
50,598
78,214

Current assets
  

Stocks
 5 
278,756
-

Debtors: amounts falling due within one year
 6 
1,719,093
2,677,898

Cash at bank and in hand
 7 
913,724
3,863,693

  
2,911,573
6,541,591

Creditors: amounts falling due within one year
 8 
(1,690,930)
(1,283,860)

Net current assets
  
 
 
1,220,643
 
 
5,257,731

Total assets less current liabilities
  
1,271,241
5,335,945

Provisions for liabilities
  

Deferred tax
  
(10,273)
(12,694)

Net assets
  
1,260,968
5,323,251


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
1,260,868
5,323,151

  
1,260,968
5,323,251


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 income and retained earnings 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 by: 




D E Miller
Director

Date: 3 October 2023

The notes on pages 2 to 9 form part of these financial statements.

Page 1

 
Once Upon a Time Content Limited (formerly The Special Treats Production Company Limited)
 
 
 
Notes to the Financial Statements
For the Period Ended 30 April 2023

1.


General information

Once Upon a Time Content Limited (Formerly The Special Treats Production Company Limited) is a private company limited by share capital, incorporated in England. The address of the registered office is Lower Ground Floor, Grafton House, 2 & 3 Golden Square, London, W1F 9HR. The company's registered number is 02144909.

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 reporting period is the 16 months ended 30 April 2023 so that the reporting date is aligned with the parent company's accounting reference date. As the previous reporting period was the year ended 31 December 2021, the comparative amounts presented in the financial statements are not entirely comparable.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Profit and loss account.
Foreign exchange gains and losses are presented in the Profit and loss account within 'administrative expenses'.

Page 2

 
Once Upon a Time Content Limited (formerly The Special Treats Production Company Limited)
 
 
 
Notes to the Financial Statements
For the Period Ended 30 April 2023

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Government grants

Grants of a revenue nature are recognised in the Statement of Income and Retained Earnings in the same period as the related expenditure.

 
2.6

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 
Once Upon a Time Content Limited (formerly The Special Treats Production Company Limited)
 
 
 
Notes to the Financial Statements
For the Period Ended 30 April 2023

2.Accounting policies (continued)

 
2.8

Current and deferred taxation

The tax expense for the period comprises current and deferred tax. 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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as detailed below.

Depreciation is provided on the following basis:

Leasehold improvements
-
20% Straight line
Motor vehicles
-
25% Reducing balance
Fixtures and fittings
-
20% Reducing balance
Computer equipment
-
25% Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 
Once Upon a Time Content Limited (formerly The Special Treats Production Company Limited)
 
 
 
Notes to the Financial Statements
For the Period Ended 30 April 2023

2.Accounting policies (continued)

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.14

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of Financial Position.

 
2.15

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.16

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 5

 
Once Upon a Time Content Limited (formerly The Special Treats Production Company Limited)
 
 
 
Notes to the Financial Statements
For the Period Ended 30 April 2023

3.


Employees

The average monthly number of employees, including directors, during the period was 24 (2021 -21).


4.


Tangible fixed assets







Leasehold improvements
Motor vehicles
Fixtures and fittings
Computer equipment
Total

£
£
£
£
£



Cost


At 1 January 2022
6,083
41,117
356,540
-
403,740


Additions
3,576
-
5,168
5,349
14,093


Disposals
-
(41,117)
-
-
(41,117)



At 30 April 2023

9,659
-
361,708
5,349
376,716



Depreciation


At 1 January 2022
5,476
13,491
306,559
-
325,526


Charge for the year
607
-
13,365
111
14,083


Disposals
-
(13,491)
-
-
(13,491)



At 30 April 2023

6,083
-
319,924
111
326,118



Net book value



At 30 April 2023
3,576
-
41,784
5,238
50,598



At 31 December 2021
607
27,626
49,981
-
78,214


5.


Stocks

30 April
Unaudited
31 December
2023
2021
£
£

Work in progress
278,756
-


Page 6

 
Once Upon a Time Content Limited (formerly The Special Treats Production Company Limited)
 
 
 
Notes to the Financial Statements
For the Period Ended 30 April 2023

6.


Debtors

30 April
Unaudited
31 December
2023
2021
£
£


Trade debtors
1,288,180
2,017,504

Amounts owed by group undertakings
69,675
-

Other debtors
65,502
602,064

Prepayments and accrued income
295,736
58,330

1,719,093
2,677,898



7.


Cash and cash equivalents

30 April
Unaudited
31 December
2023
2021
£
£

Cash at bank and in hand
913,724
3,863,693



8.


Creditors: Amounts falling due within one year

30 April
Unaudited
31 December
2023
2021
£
£

Trade creditors
292,289
299,742

Amounts owed to group undertakings
770,886
-

Corporation tax
147,210
717,992

Other taxation and social security
124,243
200,912

Other creditors
20,451
7,674

Accruals and deferred income
335,851
57,540

1,690,930
1,283,860


Page 7

 
Once Upon a Time Content Limited (formerly The Special Treats Production Company Limited)
 
 
 
Notes to the Financial Statements
For the Period Ended 30 April 2023

9.


Contingent liabilities

A charge was registered in April 2022 in favour of Toscafund GP Limited as security trustee for the secured parties (the 'secured agent') in relation to a Facilities Agreement made with the ultimate parent company. The Company is party to a security deed of accession, supplemental to a debenture between the ultimate parent company and the security agent. Under the deed, there is a fixed charge, floating charge (covering all property of the Company) and a negative pledge.
The liability outstanding on the ultimate parent company's debt facility at 30 April 2023 was £16,810,000.


10.


Commitments under operating leases

At 30 April 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

30 April
Unaudited
31 December
2023
2021
£
£


Not later than 1 year
75,800
113,700

Later than 1 year and not later than 5 years
-
108,963

75,800
222,663


11.


Related party transactions

During the prior period, other debtors included a loan of £389,915 due from The Battue Company Inc., a US company owned by C D Burrows. This was repaid in full during the period ended 30 April 2023.
The ultimate parent company Once Upon a Time Global Limited granted 500 EMI share options during the current period in respect of Ordinary shares to key management personnel of the Company. None of the options lapsed during the period and none have been exercised to date. The fair value of the options has been assessed and no equity-settled share based payment expense has been accounted for on the basis that any such expense would be immaterial. 


12.


Controlling party

During the period, Once Upon a Time London Ltd acquired 100% of the share capital of Once Upon a Time Content Limited (Formerly The Special Treats Production Company Limited). Once Upon a Time London Ltd has company number 08037404 and is a wholly owned subsidiary of Once Upon a Time Global Ltd. 
Once Upon a Time Global Ltd is the parent of the smallest group for which consolidated financial statements are drawn up, of which the Company is a member. Once Upon a Time Global Ltd has company number 12329089 and its registered office is 17 Bowling Green Lane, Clerkenwell, London, EC1R 0QH. 

Page 8

 
Once Upon a Time Content Limited (formerly The Special Treats Production Company Limited)
 
 
 
Notes to the Financial Statements
For the Period Ended 30 April 2023

13.


Auditors' information

The auditors' report on the financial statements for the period ended 30 April 2023 was unqualified.

In their report, the auditors emphasised the following matter without qualifying their report:
The corresponding figures for the year ended 31 December 2021 are unaudited.

The audit report was signed on 3 October 2023 by Helen Besant-Roberts (Senior Statutory Auditor) on behalf of Hurst Accountants Limited.

 
Page 9