COMPANY REGISTRATION NUMBER:
12930993
Malfi Film Productions Limited |
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Filleted Unaudited Financial Statement |
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Malfi Film Productions Limited |
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Statement of Financial Position |
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31 December 2022
Current assets
Stocks |
292,725 |
– |
Debtors |
4 |
– |
1,046,500 |
Cash at bank and in hand |
176 |
26,100 |
|
--------- |
------------ |
|
292,901 |
1,072,600 |
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|
|
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Creditors: amounts falling due within one year |
5 |
292,801 |
1,072,500 |
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------------ |
Net current assets |
100 |
100 |
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---- |
---- |
Total assets less current liabilities |
100 |
100 |
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---- |
---- |
Net assets |
100 |
100 |
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---- |
---- |
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Capital and reserves
Called up share capital |
100 |
100 |
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---- |
---- |
Shareholders funds |
100 |
100 |
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---- |
---- |
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These financial statement have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statement for the year in question in accordance with section 476
;
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The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statement
.
These financial statement were approved by the
board of directors
and authorised for issue on
24 November 2023
, and are signed on behalf of the board by:
Ms Miriam Dinah Segal |
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Director |
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Company registration number:
12930993
Malfi Film Productions Limited |
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Notes to the Financial Statement |
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Year ended 31 December 2022
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 99 Kenton Road, Harrow, Middlesex, HA3 0AN, England.
2.
Statement of compliance
These financial statement have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statement have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statement are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Stocks
Stocks consist of work in progress and represent the development costs of film productions. The costs are recorded at the lower of cost and net realisable value, and are net of Value Added Tax.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4.
Debtors
|
2022 |
2021 |
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£ |
£ |
Other debtors |
– |
1,046,500 |
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------------ |
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5.
Creditors:
amounts falling due within one year
|
2022 |
2021 |
|
£ |
£ |
Trade creditors |
– |
566,254 |
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
79,202 |
– |
Other creditors |
213,599 |
506,246 |
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292,801 |
1,072,500 |
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6.
Contingencies
Charges have been made against the company's assets including its rights, title and interest in and to the film, in favour of the following entity who has advanced funds to finance film production costs: - Media Finance Capital Alpha Limited
7.
Controlling party
The company is a wholly owned subsidiary of
Good Films Collective Inc
., incorporated in U.S.A.