Company registration number 08533647 (England and Wales)
DEKATRIA PRODUCTIONS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
PAGES FOR FILING WITH REGISTRAR
DEKATRIA PRODUCTIONS LIMITED
COMPANY INFORMATION
Director
Mr M S Cowie
Secretary
FLB Company Secretarial Services Limited
Company number
08533647
Registered office
1010 Eskdale Road
Winnersh Triangle
Wokingham
Berkshire
RG41 5TS
Accountants
FLB Accountants LLP
1010 Eskdale Road
Winnersh Triangle
Wokingham
Berkshire
RG41 5TS
DEKATRIA PRODUCTIONS LIMITED
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 5
DEKATRIA PRODUCTIONS LIMITED
STATEMENT OF FINANCIAL POSITION
- 1 -
2023
2022
Notes
£
£
£
£
Current assets
Debtors
4
100
7,494
Cash at bank and in hand
2,832
28,868
2,932
36,362
Creditors: amounts falling due within one year
5
(2,385)
(13,409)
Net current assets
547
22,953
Capital and reserves
Called up share capital
6
145,453
145,453
Share premium account
7
136,822
136,822
Profit and loss reserves
8
(281,728)
(259,322)
Total equity
547
22,953
The director of the company has elected not to include a copy of the income statement within the financial statements.true
For the financial year ended 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his 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.
The financial statements were approved and signed by the director and authorised for issue on 6 November 2023
Mr M S Cowie
Director
Company registration number 08533647 (England and Wales)
DEKATRIA PRODUCTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
- 2 -
1
Accounting policies
Company information
Dekatria Productions Limited is a private company limited by shares incorporated in England and Wales. The registered office is 1010 Eskdale Road, Winnersh Triangle, Wokingham, Berkshire, RG41 5TS.
The principal activity of the Company is to conduct a film and television development and production business.
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 disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
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
It is the intention of the directors to cease trading in the Company in the foreseeable future and therefore as required by Financial Reporting Standard 102 Section 1A, the directors have prepared financial statements on the basis that the Company is no longer a going concern. No material adjustments arose as a result of ceasing to apply the going concern basis.
1.3
Turnover
Turnover is derived from the development and/or production of film and/or television projects, and is stated net of value added tax. Turnover is recognised at the fair value of the right to consideration and is not recognised until there is certainty over the right to consideration. Turnover which has been recognised but not invoiced by the balance sheet date is included in debtors. Amounts invoiced in advance are included in deferred income.
1.4
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.
1.5
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
DEKATRIA PRODUCTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
1
Accounting policies
(Continued)
- 3 -
Classification of financial liabilities
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 company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
1.6
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.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
Management does not believe there to be any critical judgements or key sources of estimation uncertainty which have a significant effect on the amounts recognised in the financial statements.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
DEKATRIA PRODUCTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
- 4 -
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
7,394
Other debtors
100
100
100
7,494
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
2,385
3,673
Taxation and social security
439
Other creditors
9,297
2,385
13,409
6
Called up share capital
2023
2022
2023
2022
as restated
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of 87.5p each
166,232
166,232
145,453
145,453
DEKATRIA PRODUCTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
- 5 -
7
Share premium account
2023
2022
£
£
At the beginning of the year
136,822
149,330
Share capital reduction
(12,508)
At the end of the year
136,822
136,822
The share premium account records the amount above the nominal value received for shares issued.
8
Profit and loss reserves
2023
2022
£
£
At the beginning of the year
(259,322)
(224,016)
Loss for the year
(22,406)
(35,370)
Share redemption or reduction
64
At the end of the year
(281,728)
(259,322)
The profit and loss account represents the cumulative profits or losses, net of dividends paid and other adjustments.
9
Prior period adjustment
The prior year accounts have been restated to reflect the conversion 166,232 ordinary shares of 87.5 pence each for £145,453.
The prior period adjustment resulted in decrease in number of shares issued but having no effect on total equity overall in 31 July 2022.