Caseware UK (AP4) 2022.0.179 2022.0.179 2022-12-312022-12-3162022-01-01falseThe principal activity of the company is that of motion picture production activities and artistic creation.5truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 03751200 2022-01-01 2022-12-31 03751200 2021-01-01 2021-12-31 03751200 2022-12-31 03751200 2021-12-31 03751200 c:CompanySecretary1 2022-01-01 2022-12-31 03751200 c:Director1 2022-01-01 2022-12-31 03751200 c:Director2 2022-01-01 2022-12-31 03751200 c:RegisteredOffice 2022-01-01 2022-12-31 03751200 d:Buildings d:LongLeaseholdAssets 2022-01-01 2022-12-31 03751200 d:Buildings d:LongLeaseholdAssets 2022-12-31 03751200 d:Buildings d:LongLeaseholdAssets 2021-12-31 03751200 d:PlantMachinery 2022-01-01 2022-12-31 03751200 d:PlantMachinery 2022-12-31 03751200 d:PlantMachinery 2021-12-31 03751200 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 03751200 d:ComputerEquipment 2022-01-01 2022-12-31 03751200 d:ComputerEquipment 2022-12-31 03751200 d:ComputerEquipment 2021-12-31 03751200 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 03751200 d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 03751200 d:CurrentFinancialInstruments 2022-12-31 03751200 d:CurrentFinancialInstruments 2021-12-31 03751200 d:Non-currentFinancialInstruments 2022-12-31 03751200 d:Non-currentFinancialInstruments 2021-12-31 03751200 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 03751200 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 03751200 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 03751200 d:Non-currentFinancialInstruments d:AfterOneYear 2021-12-31 03751200 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-12-31 03751200 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2021-12-31 03751200 d:ShareCapital 2022-12-31 03751200 d:ShareCapital 2021-12-31 03751200 d:RetainedEarningsAccumulatedLosses 2022-12-31 03751200 d:RetainedEarningsAccumulatedLosses 2021-12-31 03751200 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-12-31 03751200 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2021-12-31 03751200 c:OrdinaryShareClass1 2022-01-01 2022-12-31 03751200 c:OrdinaryShareClass1 2022-12-31 03751200 c:OrdinaryShareClass1 2021-12-31 03751200 c:FRS102 2022-01-01 2022-12-31 03751200 c:AuditExempt-NoAccountantsReport 2022-01-01 2022-12-31 03751200 c:FullAccounts 2022-01-01 2022-12-31 03751200 c:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 03751200 2 2022-01-01 2022-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 03751200









J N FILMS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2022

 
J N FILMS LIMITED
 
 
COMPANY INFORMATION


Directors
M G Nash 
I Julien 




Company secretary
M G Nash



Registered number
03751200



Registered office
Ground Floor
Hutley Wharf

29 Branch Place

London

N1 5PW




Accountants
Rawlinson & Hunter LLP
Chartered Accountants

Eighth Floor

6 New Street Square

New Fetter Lane

London

EC4A 3AQ





 
J N FILMS LIMITED
 

CONTENTS



Page
Balance Sheet
 
1 - 2
Notes to the Financial Statements
 
3 - 9


 
J N FILMS LIMITED
REGISTERED NUMBER: 03751200

BALANCE SHEET
AS AT 31 DECEMBER 2022

2022
2021
Note
£
£

Fixed assets
  

Tangible assets
 4 
508,268
443,560

  
508,268
443,560

Current assets
  

Debtors: amounts falling due within one year
 5 
22,522
172,541

Cash at bank and in hand
 6 
-
301,906

  
22,522
474,447

Creditors: amounts falling due within one year
 7 
(487,988)
(1,126,181)

Net current liabilities
  
 
 
(465,466)
 
 
(651,734)

Total assets less current liabilities
  
42,802
(208,174)

Creditors: amounts falling due after more than one year
 8 
-
(25,000)

  

Net assets/(liabilities)
  
42,802
(233,174)


Capital and reserves
  

Called up share capital 
 11 
2
2

Profit and loss account
  
42,800
(233,176)

  
42,802
(233,174)


Page 1

 
J N FILMS LIMITED
REGISTERED NUMBER: 03751200
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2022

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




M G Nash
Director

Date: 21 October 2023

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
J N FILMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

1.


General information

J N Films Limited is a private company, limited by shares, incorporated in England and Wales with registration number 03751200. The registered office is Ground Floor, Hutley Wharf, 29 Branch Place, London, N1 5PW.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis which assumes the continued financial support of the directors, who have provided confirmation of their intention to provide such financial support as is necessary for the company to continue its operations for the foreseeable future and at least 12 months from the date of signing of the financial statements.

 
2.3

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Profit and Loss Account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'administration expenses'.

Page 3

 
J N FILMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the company has transferred the significant risks and rewards of ownership to the buyer;
the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.5

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Profit and Loss Account in the same period as the related expenditure.

 
2.6

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 4

 
J N FILMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.8

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the company in independently administered funds.

 
2.9

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Improvements to property
-
2%
Straight Line
Plant and machinery
-
15%
Reducing Balance
Computer equipment
-
15%
Reducing Balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.11

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 5

 
J N FILMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.14

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Employees


The average monthly number of employees, including directors, during the year was 5 (2021 - 6).

Page 6

 
J N FILMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

4.


Tangible fixed assets





Improvements to property
Plant and machinery
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 January 2022
402,291
391,026
4,455
797,772


Additions
-
95,416
1,708
97,124



At 31 December 2022

402,291
486,442
6,163
894,896



Depreciation


At 1 January 2022
72,946
280,963
303
354,212


Charge for the year on owned assets
8,046
23,576
794
32,416



At 31 December 2022

80,992
304,539
1,097
386,628



Net book value



At 31 December 2022
321,299
181,903
5,066
508,268



At 31 December 2021
329,345
110,063
4,152
443,560




The net book value of land and buildings may be further analysed as follows:


2022
2021
£
£

Long leasehold
321,299
329,345



5.


Debtors

2022
2021
£
£


Trade debtors
18,903
68,068

Other debtors
-
16,804

Prepayments and accrued income
3,619
87,669

22,522
172,541


Page 7

 
J N FILMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

6.


Cash and cash equivalents

2022
2021
£
£

Cash at bank and in hand
-
301,906

Less: bank overdrafts
(10,197)
(10,000)

(10,197)
291,906



7.


Creditors: Amounts falling due within one year

2022
2021
£
£

Bank overdrafts
10,197
10,000

Bank loans
25,000
50,000

Trade creditors
44,141
233,792

Corporation tax
60,148
-

Other taxation and social security
42,426
56,263

Other creditors
72,189
143,249

Accruals and deferred income
233,887
632,877

487,988
1,126,181



8.


Creditors: Amounts falling due after more than one year

2022
2021
£
£

Bank loans
-
25,000


Page 8

 
J N FILMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

9.


Loans


Analysis of the maturity of loans is given below:


2022
2021
£
£

Amounts falling due within one year

Bank loans
25,000
50,000

Amounts falling due 1-2 years

Bank loans
-
25,000



25,000
75,000


The company has a loan facility with Coutts & Co. The term of the facility is for 2 years to 31 March 2023 with interest payable at a rate of 4.10% per annum. Capital repayment is by instalments of every six months till the end of the term.
The facility is secured by a fixed and floating charge over all assets of the company including book debts and rely upon the personal guarantee provided by the directors for the sum of £300,000. 

10.


Financial instruments

2022
2021
£
£

Financial assets


Financial assets measured at fair value through profit or loss
-
301,906




Financial assets measured at fair value through profit or loss comprise cash at bank and in hand.


11.


Share capital

2022
2021
£
£
Allotted, called up and fully paid



2 (2021 - 2) Ordinary shares of £1.00 each
2
2



12.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund. Contributions totalling £901 (2021 - £1,129) were payable to the fund at the balance sheet date.
 
Page 9