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COMPANY REGISTRATION NUMBER: 13013553
Story Films (Canoe Man) Limited
Filleted Unaudited Accounts
31 December 2022
Story Films (Canoe Man) Limited
Statement of Financial Position
31 December 2022
31 Dec 22
20 Feb 22
Note
£
£
Current assets
Debtors
4
1
2,639,238
Cash at bank and in hand
11,074
2,608
--------
------------
11,075
2,641,846
Creditors: amounts falling due within one year
5
( 11,074)
( 2,641,845)
--------
------------
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 accounts 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 December 2022 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 accounts 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 accounts .
These accounts were approved by the board of directors and authorised for issue on 1 November 2023 , and are signed on behalf of the board by:
D K R Nath
Director
Company registration number: 13013553
Story Films (Canoe Man) Limited
Notes to the Accounts
Period from 21 February 2022 to 31 December 2022
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Berkshire House, 168-173 High Holborn, London, WC1V 7AA.
2. Statement of compliance
These accounts 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 accounts 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 accounts 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.
Significant estimation technique adopted
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" above.
Revenue recognition
Turnover relates to the production of the film entitled "Canoe Man". 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. Revenue 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.
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.
Financial instruments
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 entity after deducting all of its financial liabilities.
4. Debtors
31 Dec 22
20 Feb 22
£
£
Other debtors
1
2,639,238
----
------------
5. Creditors: amounts falling due within one year
31 Dec 22
20 Feb 22
£
£
Trade creditors
200,980
Social security and other taxes
100
Production loan
1,466,918
Other creditors
11,074
973,847
--------
------------
11,074
2,641,845
--------
------------
6. Related party transactions
During the year no related-party transactions took place. All transactions related to the production of the film "Canoe Man" and arose on an arm's-length basis through the normal course of business. No transactions with related parties were undertaken such as are required to be disclosed under FRS 102.