Caseware UK (AP4) 2022.0.179 2022.0.179 2022-06-302022-06-301truetrue2021-07-01The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false1 11922519 2021-07-01 2022-06-30 11922519 2020-07-01 2021-06-30 11922519 2022-06-30 11922519 2021-06-30 11922519 c:Director1 2021-07-01 2022-06-30 11922519 d:CurrentFinancialInstruments 2022-06-30 11922519 d:CurrentFinancialInstruments 2021-06-30 11922519 d:CurrentFinancialInstruments d:WithinOneYear 2022-06-30 11922519 d:CurrentFinancialInstruments d:WithinOneYear 2021-06-30 11922519 d:ShareCapital 2022-06-30 11922519 d:ShareCapital 2021-06-30 11922519 d:RetainedEarningsAccumulatedLosses 2022-06-30 11922519 d:RetainedEarningsAccumulatedLosses 2021-06-30 11922519 c:FRS102 2021-07-01 2022-06-30 11922519 c:AuditExempt-NoAccountantsReport 2021-07-01 2022-06-30 11922519 c:FullAccounts 2021-07-01 2022-06-30 11922519 c:PrivateLimitedCompanyLtd 2021-07-01 2022-06-30 iso4217:GBP xbrli:pure

Registered number: 11922519









JDP SPY LTD







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2022

 
JDP SPY LTD
REGISTERED NUMBER:11922519

BALANCE SHEET
AS AT 30 JUNE 2022

As restated
2022
2021
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
397,389
395,717

Cash at bank and in hand
  
338,307
949,736

  
735,696
1,345,453

Creditors: amounts falling due within one year
 5 
(1,234,295)
(1,701,048)

Net current liabilities
  
 
 
(498,599)
 
 
(355,595)

Total assets less current liabilities
  
(498,599)
(355,595)

  

Net liabilities
  
(498,599)
(355,595)


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
(498,600)
(355,596)

  
(498,599)
(355,595)


Page 1

 
JDP SPY LTD
REGISTERED NUMBER:11922519
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2022

The director considers 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 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 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 statement of comprehensive income 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: 




J Downer
Director

Date: 22 November 2023

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
JDP SPY LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2022

1.


General information

JDP Spy Ltd is a private company, limited by shares, incorporated and domiciled in England and Wales. The address of the registered office is The Old Barn Kennel, Lodge Road, Bower Ashton, Bristol, BS3 2JT.

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

We confirm that, in our opinion, the company is a going concern. The director is satisfied that the company can continue as a going concern for the foreseeable future and has agreed to continue to support the company for at least the next 12 months.  
The Company has net current liabilities of £459,599 (2021 restated -  £355,595). The company has a production contract to support the current production and the director has agreed to support the company as required.

 
2.3

Revenue

Revenue from television productions 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:
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

Page 3

 
JDP SPY LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2022

2.Accounting policies (continued)

 
2.4

Taxation

High-end TV tax credit
The company’s business model incorporates claims under UK high-end TV tax credit legislation in relation to the production of Spy in the Ocean. High-end television tax credits are recognised on receipt of cash as this is the point at which the Director considers there to be sufficient certainty surrounding the claim. 

 
2.5

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.

 
2.6

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.

 
2.7

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.
Page 4

 
JDP SPY LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2022

2.Accounting policies (continued)

 
2.8

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.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2021 -1).


4.


Debtors

2022
2021
£
£


Trade debtors
-
295,499

VAT reclaimable
11,603
61,056

Prepayments and accrued income
383,908
37,284

Other debtors
1,878
1,878

397,389
395,717


Page 5

 
JDP SPY LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2022

5.


Creditors: Amounts falling due within one year

As restated
2022
2021
£
£

Trade creditors
106,297
47,205

Amounts owed to group undertakings
538,195
289,003

Other creditors
147,544
250,038

Accruals and deferred income
442,259
1,114,802

1,234,295
1,701,048



6.


Prior year adjustment

During the preparation of the financial statements for the year ended 30 June 2022, it was identified that the stage of completion and projected loss on the contract had not been accurately recorded in the statutory accounts as at 30 June 2021. In order to align the statutory accounts with the cost report at the same date, an adjustment has been recorded to reduce the loss provision by £149,372 (reported through other creditors) and decrease the associated cost of sales by the same amount. At the same time, an adjustment has been recorded to reduce revenue and increase deferred income by £161,757. The net impact on the loss reported for the year ended 30 June 2021 and the net liabilities at the same date was an increase of £12,385.

For clarity, amounts owed to the parent company at 30 June 2021 totalling £287,547 have been reclassified from accruals and deferred income to amounts owed to group undertakings. This adjustment has had no impact on the loss for the year ended 30 June 2021 or the net liabilities at the same date.

Page 6