Silver Lining Productions No.1 Limited
Unaudited Financial Statements
For the year ended 30 April 2023
Pages for Filing with Registrar
Company Registration No. 8364411 (England and Wales)
Silver Lining Productions No.1 Limited
Company Information
Directors
M O'Sullivan
A Tateo
Company number
8364411
Registered office
Charlotte Building
17 Gresse Street
London
W1T 1QL
Accountants
Moore Kingston Smith LLP
Charlotte Building
17 Greese Street
London
W1T 1QL
Business address
22 Stephenson Way
London
United Kingdom
NW1 2HD
Silver Lining Productions No.1 Limited
Contents
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
Silver Lining Productions No.1 Limited
Balance Sheet
As at 30 April 2023
Page 1
2023
2022
£
£
£
£
Fixed assets
Intangible assets
3
Investments
4
101
101
Current assets
Debtors
5
1,025,112
1,031,231
Cash at bank and in hand
7,719
26,385
1,032,831
1,057,616
Creditors: amounts falling due within one year
6
(16,645)
(28,552)
Net current assets
1,016,186
1,029,064
Total assets less current liabilities
1,016,287
1,029,165
Capital and reserves
Called up share capital
7
19,379
19,379
Share premium account
1,561,911
1,561,911
Profit and loss reserves
(565,003)
(552,125)
Total equity
1,016,287
1,029,165
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Silver Lining Productions No.1 Limited
Balance Sheet (Continued)
As at 30 April 2023
Page 2
The financial statements were approved by the board of directors and authorised for issue on 2 November 2023 and are signed on its behalf by:
A Tateo
Director
Company Registration No. 8364411
Silver Lining Productions No.1 Limited
Notes to the Financial Statements
For the year ended 30 April 2023
Page 3
1
Accounting policies
Company information
Silver Lining Productions No.1 Limited is a private company limited by shares incorporated in England and Wales. The registered office is Charlotte Building, 17 Gresse Street, London, W1T 1QL.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
These financial statements are prepared on the going concern basis. The directors havetrue a reasonable expectation that the company will continue in operational existence for the foreseeable future. The directors believe that the company will have sufficient funds to settle all of its liabilities as they fall due for at least 12 months from signing the accounts.
1.3
Intangible fixed assets other than goodwill
Intangible assets relate to film rights acquired and are recognised at cost and are subsequently measured at cost less accumulated impairment losses.
1.4
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
1.5
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.6
Financial instruments
The company only has basic financial instruments measured at amortised costs, with no financial instruments classified as other, or basic financial instruments measured at fair value.
1.7
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
Silver Lining Productions No.1 Limited
Notes to the Financial Statements (Continued)
For the year ended 30 April 2023
1
Accounting policies
(Continued)
Page 4
1.8
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.9
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
2
2
Silver Lining Productions No.1 Limited
Notes to the Financial Statements (Continued)
For the year ended 30 April 2023
Page 5
3
Intangible fixed assets
Film development costs
£
Cost
At 1 May 2022 and 30 April 2023
38,413
Amortisation and impairment
At 1 May 2022 and 30 April 2023
38,413
Carrying amount
At 30 April 2023
At 30 April 2022
4
Fixed asset investments
2023
2022
£
£
Shares in group undertakings and participating interests
101
101
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
8,243
Amounts owed by group undertakings
1,023,638
1,022,238
Other debtors
1,474
750
1,025,112
1,031,231
6
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
9,737
16,708
Taxation and social security
296
Other creditors
2,108
2,108
Accruals and deferred income
4,800
9,440
16,645
28,552
Silver Lining Productions No.1 Limited
Notes to the Financial Statements (Continued)
For the year ended 30 April 2023
Page 6
7
Called up share capital
2023
2022
£
£
Ordinary share capital
Issued and fully paid
1,562,915 Ordinary shares of 1p each
15,629
15,629
375,000 B Ordinary shares of 1p each
3,750
3,750
19,379
19,379
Ordinary and B Ordinary shares rank pari passu. Each share has full rights in the company with respect to voting, dividends and distributions.
8
Related party transactions
The company has taken the exemption under FRS102 not to disclose transactions with 100% group companies.
9
Parent company
The company has no ultimate controlling party.