Prettybird Limited
Financial Statements
For the year ended 31 December 2022
For Filing with Registrar
Company Registration No. 06622508 (England and Wales)
Prettybird Limited
Company Information
Directors
K Emhoff
P Hunter
J Larthe De Langladure
Company number
06622508
Registered office
Room T132
Third Floor, New Wing Somerset House
Strand
London
WC2R 1LA
Auditor
Moore Kingston Smith LLP
Charlotte Building
17 Gresse Street
London
W1T 1QL
Business address
M22
Somerset House Post Room
West Service Yard
London
WC2R 1LA
Prettybird Limited
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 6
Prettybird Limited
Balance Sheet
As at 31 December 2022
Page 1
2022
2021
Notes
£
£
£
£
Fixed assets
Tangible assets
3
8,918
10,780
Current assets
Work in progress
296,805
-
Debtors
4
611,019
341,572
Cash at bank and in hand
1,391,086
1,633,370
2,298,910
1,974,942
Creditors: amounts falling due within one year
5
(1,117,891)
(756,103)
Net current assets
1,181,019
1,218,839
Total assets less current liabilities
1,189,937
1,229,619
Provisions for liabilities
(2,229)
(2,092)
Net assets
1,187,708
1,227,527
Capital and reserves
Called up share capital
6
2
2
Profit and loss reserves
1,187,706
1,227,525
Total equity
1,187,708
1,227,527

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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 by the board of directors and authorised for issue on 28 September 2023 and are signed on its behalf by:
K Emhoff
Director
Company Registration No. 06622508
Prettybird Limited
Notes to the Financial Statements
For the year ended 31 December 2022
Page 2
1
Accounting policies
Company information

Prettybird Limited is a private company limited by shares incorporated in England and Wales. The registered office is Room T132, Third Floor, New Wing Somerset House, Strand, London, WC2R 1LA.

1.1
Accounting convention

These financial statements have been prepared in accordance with Section 1A of 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
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from contracts for the provision of services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is measured by shoot days. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures, fittings & equipment
25% straight line
1.4
Work in progress

Work in progress represents costs incurred on productions which are shot post year end and are valued at the lower of cost and net realisable value.

1.5
Cash at bank and in hand

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 cost, with no financial instruments classified as other or basic instruments measured at fair value.

Prettybird Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2022
1
Accounting policies
(Continued)
Page 3
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.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

1.9
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.

1.10
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.11
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.12
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

Prettybird Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2022
1
Accounting policies
(Continued)
Page 4
1.13
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:

2022
2021
Number
Number
Total
10
9
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2022
55,534
Additions
3,380
At 31 December 2022
58,914
Depreciation and impairment
At 1 January 2022
44,754
Depreciation charged in the year
5,242
At 31 December 2022
49,996
Carrying amount
At 31 December 2022
8,918
At 31 December 2021
10,780
Prettybird Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2022
Page 5
4
Debtors
2022
2021
Amounts falling due within one year:
£
£
Trade debtors
447,551
224,393
Other debtors
163,468
117,179
611,019
341,572
5
Creditors: amounts falling due within one year
2022
2021
£
£
Trade creditors
108,391
96,562
Amounts owed to group undertakings
174,177
-
0
Corporation tax
5,888
130,087
Other taxation and social security
34,470
32,185
Other creditors
794,965
497,269
1,117,891
756,103
6
Called up share capital
2022
2021
£
£
Ordinary share capital
Issued and fully paid
200 Ordinary A Shares of 1p each
2
2
22 Ordinary B Shares of 1p each
-
-
2
2
7
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

The senior statutory auditor was Joanna Cosgrove and the auditor was Moore Kingston Smith LLP.
Prettybird Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2022
Page 6
8
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2022
2021
£
£
14,490
14,053
9
Related party transactions

Included in other debtors at the balance sheet date is an amount of £468 (2021: £33) owed to the company by the directors.

 

During the year the company made purchases of £399,850 (2021: £nil) and sales of £223,375 (2021: £nil) to and from In Camera Films Ltd. At the year end, a balance was owed to the company of £150. In Camera Films Ltd is a related party by virtue of common directorship.

 

During the year the company made sales of £1,052,528 (2021: £nil) to and purchases of £339,613 (2021: £nil) from Prettybird LLC. At the year end, a balance was owed to the company of £16,130 (2021: £nil). Prettybird LLC is a related party by virtue of being under common control.

 

During the year the company made purchases of £7,599 (2021: £nil) and sales of £8,308 (2021: £nil) to and from Ventureland Limited. At the year end a balance was owed to the company of £1,382. Ventureland Limited is a related party by virtue of being under common control.

10
Parent company

The immediate parent company is PEH Investco, LLC, by virtue of its majority shareholding.

 

There is no ultimate controlling party.

2022-12-312022-01-01false07 November 2023CCH SoftwareCCH Accounts Production 2023.200No description of principal activityThis audit opinion is unqualifiedK EmhoffP HunterJ Larthe De LangladureCarlton Registrars Limited066225082022-01-012022-12-3106622508bus:Director12022-01-012022-12-3106622508bus:Director22022-01-012022-12-3106622508bus:Director32022-01-012022-12-3106622508bus:CompanySecretary12022-01-012022-12-3106622508bus:RegisteredOffice2022-01-012022-12-31066225082022-12-31066225082021-12-3106622508core:OtherPropertyPlantEquipment2022-12-3106622508core:OtherPropertyPlantEquipment2021-12-3106622508core:CurrentFinancialInstrumentscore:WithinOneYear2022-12-3106622508core:CurrentFinancialInstrumentscore:WithinOneYear2021-12-3106622508core:CurrentFinancialInstruments2022-12-3106622508core:CurrentFinancialInstruments2021-12-3106622508core:ShareCapital2022-12-3106622508core:ShareCapital2021-12-3106622508core:RetainedEarningsAccumulatedLosses2022-12-3106622508core:RetainedEarningsAccumulatedLosses2021-12-3106622508core:ShareCapitalOrdinaryShares2022-12-3106622508core:ShareCapitalOrdinaryShares2021-12-3106622508core:FurnitureFittings2022-01-012022-12-31066225082021-01-012021-12-3106622508core:OtherPropertyPlantEquipment2021-12-3106622508core:OtherPropertyPlantEquipment2022-01-012022-12-3106622508core:WithinOneYear2022-12-3106622508core:WithinOneYear2021-12-3106622508bus:PrivateLimitedCompanyLtd2022-01-012022-12-3106622508bus:SmallCompaniesRegimeForAccounts2022-01-012022-12-3106622508bus:FRS1022022-01-012022-12-3106622508bus:Audited2022-01-012022-12-3106622508bus:FullAccounts2022-01-012022-12-31xbrli:purexbrli:sharesiso4217:GBP