Caseware UK (AP4) 2022.0.179 2022.0.179 2022-06-302022-06-30trueThe principal activity of the company for the year continued to be that of television production.12021-07-01false1trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 07306204 2021-07-01 2022-06-30 07306204 2020-07-01 2021-06-30 07306204 2022-06-30 07306204 2021-06-30 07306204 c:Director1 2021-07-01 2022-06-30 07306204 d:CurrentFinancialInstruments 2022-06-30 07306204 d:CurrentFinancialInstruments 2021-06-30 07306204 d:CurrentFinancialInstruments d:WithinOneYear 2022-06-30 07306204 d:CurrentFinancialInstruments d:WithinOneYear 2021-06-30 07306204 d:ShareCapital 2022-06-30 07306204 d:ShareCapital 2021-06-30 07306204 d:RetainedEarningsAccumulatedLosses 2022-06-30 07306204 d:RetainedEarningsAccumulatedLosses 2021-06-30 07306204 c:FRS102 2021-07-01 2022-06-30 07306204 c:AuditExempt-NoAccountantsReport 2021-07-01 2022-06-30 07306204 c:FullAccounts 2021-07-01 2022-06-30 07306204 c:PrivateLimitedCompanyLtd 2021-07-01 2022-06-30 07306204 2 2021-07-01 2022-06-30 iso4217:GBP xbrli:pure

Registered number: 07306204









JDP SERENGETI LTD







UNAUDITED

 FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2022

 
JDP SERENGETI LTD
 

CONTENTS



Page
Statement of Financial Position
 
1 - 2
Notes to the Financial Statements
 
3 - 6

 
JDP SERENGETI LTD
REGISTERED NUMBER: 07306204

STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2022

As restated
2022
2021
Note
£
£

  

Current assets
  

Work in Progress
  
-
2,329,346

Debtors: amounts falling due within one year
 4 
364,297
359,982

Cash at bank and in hand
  
803,523
850,538

  
1,167,820
3,539,866

Creditors: amounts falling due within one year
 5 
(965,332)
(3,470,384)

Net current assets
  
 
 
202,488
 
 
69,482

Total assets less current liabilities
  
202,488
69,482

  

Net assets
  
202,488
69,482


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
202,487
69,481

  
202,488
69,482

Page 1

 
JDP SERENGETI LTD
REGISTERED NUMBER: 07306204
    
STATEMENT OF FINANCIAL POSITION (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: 27 November 2023

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

Page 2

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

1.


General information

JDP Serengeti 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, United Kingdom, BS3 2JT.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

These financial statements are prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” as applied in the context of the small entities regime 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 from signing these accounts. 

 
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.

 
2.4

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 3

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

2.Accounting policies (continued)

 
2.5

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.
 
2.6

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.

 
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.

 
2.8

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 the multiple Serengeti series. 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. 

 
2.9

Interest income

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

Page 4

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

2.Accounting policies (continued)

 
2.10

Work in progress

Work in progress is recognised where costs have been incurred towards a production contract, but the contract has not met the criteria to recognise revenue on a percentage of completion basis. Until such a time the contract is signed, associated costs are recognised on the balance sheet as work in progress.  


3.


Employees

Production staff costs are recharged to the company by John Downer Productions Limited.

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


4.


Debtors

As restated
2022
2021
£
£


Trade debtors
168,000
300,000

VAT repayable
5,533
-

Other debtors
150
150

Called up share capital not paid
1
1

Prepayments and accrued income
190,613
59,831

364,297
359,982



5.


Creditors: Amounts falling due within one year

As restated
2022
2021
£
£

Trade creditors
36,194
210,227

Amounts owed to group undertakings
563,735
2,142,622

VAT payable
-
11,249

Other creditors
187,138
-

Accruals and deferred income
178,265
1,106,286

965,332
3,470,384


Page 5

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

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 on contracts had not been accurately recorded in the statutory accounts as at 30 June 2021. In order to align the statutory accounts with the cost reports at the same date, adjustments have been recorded to increase revenue £301,843 decrease the cost of sales by £162,095, decrease retained earnings as at 30 June 2020 by £672,993, increase amounts owed to group undertakings by £361,298, increase accrued income by £238,874 and increase accruals and deferred income by £86,631. The net impact on the profit reported for the year ended 30 June 2021 was an increase of £463,938. The impact on net assets at the same date was a reduction of £209,055 For clarity, amounts owed to the parent company at 30 June 2021 totalling £1,134,801 have been reclassified from accruals and deferred income to amounts owed to group undertakings. This adjustment has had no impact on the profit for the year ended 30 June 2021 or the net liabilities at the same date. During the preparation of the financial statements for the year ended 30 June 2022, it was identified that historic intercompany receivables had not been accurately recorded in the statutory accounts as at 30 June 2021. An adjustment to reduce amounts owed to group undertakings by £570,798 has been made with an equal adjustment reflected within retained earnings. During the preparation of the financial statements for the year ended 30 June 2022, it was identified that the costs and associated revenues relating to a production contract that had not been formally agreed were recognised through the statement of comprehensive income as at 30 June 2021. An adjustment has been recorded to reduce costs by £2,329,346 and recognise work in progress of the same amount.  At the same time, an adjustment has been recorded to reduce revenue and accrued income by £2,625,250. The net impact on the profit reported for the year ended 30 June 2021 and the net assets at the same date was a decrease of £295,904.

Page 6