0 false false false false false false false false false false true false false false false false false No description of principal activity 2022-05-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 13713941 2022-05-01 2023-03-31 13713941 2023-03-31 13713941 2022-04-30 13713941 2021-11-01 2022-04-30 13713941 2022-04-30 13713941 2021-10-31 13713941 bus:Director2 2022-05-01 2023-03-31 13713941 core:WithinOneYear 2023-03-31 13713941 core:WithinOneYear 2022-04-30 13713941 core:ShareCapital 2023-03-31 13713941 core:ShareCapital 2022-04-30 13713941 bus:SmallEntities 2022-05-01 2023-03-31 13713941 bus:AuditExemptWithAccountantsReport 2022-05-01 2023-03-31 13713941 bus:SmallCompaniesRegimeForAccounts 2022-05-01 2023-03-31 13713941 bus:PrivateLimitedCompanyLtd 2022-05-01 2023-03-31 13713941 bus:FullAccounts 2022-05-01 2023-03-31
COMPANY REGISTRATION NUMBER: 13713941
Dark Shark Film Limited
Filleted Unaudited Financial Statements
31 March 2023
Dark Shark Film Limited
Statement of Financial Position
31 March 2023
31 Mar 23
30 Apr 22
Note
£
£
Current assets
Stocks
7,497,719
4,109,163
Debtors
4
743,685
1,207,769
Cash at bank and in hand
63,652
726,478
------------
------------
8,305,056
6,043,410
Creditors: amounts falling due within one year
5
8,305,054
6,043,408
------------
------------
Net current assets
2
2
----
----
Total assets less current liabilities
2
2
----
----
Net assets
2
2
----
----
Capital and reserves
Called up share capital
2
2
----
----
Shareholders funds
2
2
----
----
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 statement of comprehensive income has not been delivered.
For the period ending 31 March 2023 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 financial statements for the period 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 financial statements .
These financial statements were approved by the board of directors and authorised for issue on 6 October 2023 , and are signed on behalf of the board by:
Mr Sean O'Kelly
Director
Company registration number: 13713941
Dark Shark Film Limited
Notes to the Financial Statements
Period from 1 May 2022 to 31 March 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 71-75 Shelton Street, Covent Garden, London, WC2H 9JQ.
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.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
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 .
4. Debtors
31 Mar 23
30 Apr 22
£
£
Other debtors
743,685
1,207,769
---------
------------
5. Creditors: amounts falling due within one year
31 Mar 23
30 Apr 22
£
£
Trade creditors
46,973
92,350
Other creditors
8,258,081
5,951,058
------------
------------
8,305,054
6,043,408
------------
------------
Other creditors include £8,258,081 in respect of production advances and loans received to produce the film.
6. Contingencies
Charges have been made against the company's assets including its rights, title and interest in and to the film, in favour of the following entities who have advanced funds to finance film production costs: - Argonaut Entertainment, L.P. - Real Estate Associates Limited - Media Finance Capital Alpha Limited - Paterson James Limited