Silverfin false 31/03/2023 01/04/2022 31/03/2023 Mr G Powell 05/05/2016 Mrs N C Powell 05/05/2016 15 November 2023 The principal activity of the Company during the financial year was that of motion picture production activities. 10165159 2023-03-31 10165159 bus:Director1 2023-03-31 10165159 bus:Director2 2023-03-31 10165159 2022-03-31 10165159 core:CurrentFinancialInstruments 2023-03-31 10165159 core:CurrentFinancialInstruments 2022-03-31 10165159 core:ShareCapital 2023-03-31 10165159 core:ShareCapital 2022-03-31 10165159 core:RetainedEarningsAccumulatedLosses 2023-03-31 10165159 core:RetainedEarningsAccumulatedLosses 2022-03-31 10165159 core:LandBuildings 2022-03-31 10165159 core:OtherPropertyPlantEquipment 2022-03-31 10165159 core:LandBuildings 2023-03-31 10165159 core:OtherPropertyPlantEquipment 2023-03-31 10165159 2022-04-01 2023-03-31 10165159 bus:FullAccounts 2022-04-01 2023-03-31 10165159 bus:SmallEntities 2022-04-01 2023-03-31 10165159 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 10165159 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 10165159 bus:Director1 2022-04-01 2023-03-31 10165159 bus:Director2 2022-04-01 2023-03-31 10165159 core:LandBuildings core:TopRangeValue 2022-04-01 2023-03-31 10165159 core:OtherPropertyPlantEquipment 2022-04-01 2023-03-31 10165159 2021-04-01 2022-03-31 10165159 core:LandBuildings 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Company No: 10165159 (England and Wales)

TAZ 114 LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2023
Pages for filing with the registrar

TAZ 114 LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2023

Contents

TAZ 114 LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 March 2023
TAZ 114 LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 4 457,375 306,725
457,375 306,725
Current assets
Debtors 5 26,682 81,083
Cash at bank and in hand 1,853,731 1,789,461
1,880,413 1,870,544
Creditors: amounts falling due within one year 6 ( 229,649) ( 547,009)
Net current assets 1,650,764 1,323,535
Total assets less current liabilities 2,108,139 1,630,260
Net assets 2,108,139 1,630,260
Capital and reserves
Called-up share capital 400 400
Profit and loss account 2,107,739 1,629,860
Total shareholders' funds 2,108,139 1,630,260

For the financial year ending 31 March 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of TAZ 114 Limited (registered number: 10165159) were approved and authorised for issue by the Director. They were signed on its behalf by:

Mr G Powell
Director
Mrs N C Powell
Director

15 November 2023

TAZ 114 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
TAZ 114 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

TAZ 114 Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 35 Ballards Lane, London, N3 1XW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable 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.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so 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.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 25 years straight line
Plant and machinery etc. 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

The Company only enters into basic financial instruments and 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 and from related parties and investments in non-puttable ordinary shares.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, 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.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, 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 receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and 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.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the Company’s accounting policies, the directors are required to make judgements that have a significant impact on the amounts recognised. The following are the critical judgements that the directors have made in the process of applying the Company’s accounting policies and that have the most significant effect on the amounts recognised in the financial statements.

3. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 3 3

4. Tangible assets

Land and buildings Plant and machinery etc. Total
£ £ £
Cost
At 01 April 2022 153,060 380,529 533,589
Additions 19,336 226,366 245,702
Disposals 0 ( 38,995) ( 38,995)
At 31 March 2023 172,396 567,900 740,296
Accumulated depreciation
At 01 April 2022 23,108 203,756 226,864
Charge for the financial year 6,609 73,972 80,581
Disposals 0 ( 24,524) ( 24,524)
At 31 March 2023 29,717 253,204 282,921
Net book value
At 31 March 2023 142,679 314,696 457,375
At 31 March 2022 129,952 176,773 306,725

5. Debtors

2023 2022
£ £
Trade debtors 22,982 77,783
Other debtors 3,700 3,300
26,682 81,083

6. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 3,366 3,296
Taxation and social security 39,987 290,723
Other creditors 186,296 252,990
229,649 547,009

7. Ultimate controlling party

There is no controlling party.