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COMPANY REGISTRATION NUMBER: 09893607
Stanley The Hamster Productions Limited
Filleted Unaudited Accounts
31 August 2023
Stanley The Hamster Productions Limited
Statement of Financial Position
31 August 2023
2023
2022
Note
£
£
Current assets
Work in progress
339,278
332,902
Debtors
5
704,295
1,782
Cash at bank and in hand
10,592
691,194
------------
------------
1,054,165
1,025,878
Creditors: amounts falling due within one year
6
( 1,068,578)
( 1,039,727)
------------
------------
Net current liabilities
( 14,413)
( 13,849)
--------
--------
Total assets less current liabilities
( 14,413)
( 13,849)
--------
--------
Net liabilities
( 14,413)
( 13,849)
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 14,513)
( 13,949)
--------
--------
Shareholders deficit
( 14,413)
( 13,849)
--------
--------
These accounts 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 income and retained earnings has not been delivered.
For the year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts .
Stanley The Hamster Productions Limited
Statement of Financial Position (continued)
31 August 2023
These accounts were approved by the board of directors and authorised for issue on 28 November 2023 , and are signed on behalf of the board by:
E J Glauser
Director
Company registration number: 09893607
Stanley The Hamster Productions Limited
Notes to the Accounts
Year ended 31 August 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Level 1 Brockboure House, 77 Mount Ephraim, Tunbridge Wells, TN4 8BS, England. The Company's principal place of business is Winters Farm House, North Common Road, Wivelsfield Green, Haywards Heath, RH17 7RJ.
2. Statement of compliance
These accounts 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 accounts 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 accounts are prepared in sterling, which is the functional currency of the entity.
Going concern
After making enquiries, the Directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the financial statements. In establishing whether to continue to report under the going concern assumption we have considered the following points: - The impact on the day to day trade of the business - The impact on the ability of our suppliers to meet our needs - The impact of our staff's ability to perform their duties - The impact on our cash position of a period of minimum activity A detailed budget and cashflow have been prepared for the production and delivery of the animation series. Funds to meet the cashflow requirements are contractually in place and the directors do not anticipate any material overspend for which finance has not been secured. The directors are anticipating completion in the forthcoming period. After considering all factors, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the accounts.
Comparatives
The accounts cover a year to 31 August 2023. The comparatives cover the period from 1 January 2022 to 31 August 2022.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying small entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under section 1A of FRS 102: (a) No cash flow statement has been presented for the company. (b) Disclosures in respect of financial instruments have not been presented.
Judgements and key sources of estimation uncertainty
Accruals are estimated by reference to purchase orders raised at the period end and estimates to complete. Payments received on account are estimated by reference to percentage of completion of the television production, as noted in "Turnover" below.
Turnover
Turnover relates to the production of the animation entitled "Stanley The Can Do Hamster". It represents the value of the work done in the period, including estimates of amounts not invoiced and is stated after trade discounts, other taxes and net of VAT. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Income tax
Tax is recognised in the Statement of income and retained earnings, except that a change 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.
Work in progress
Work in progress is stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase. Work in progress and finished goods include labour and attributable overheads. At each balance sheet date, work in progress is assessed for impairment. If working in progress is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
4. Employees
The company has been incorporated to produce a animation entitled "Stanley The Can Do Hamster". In common with the film and television industry the majority of crew are hired on short term contracts for the duration of principal photography or are self-employed.
None of the Directors received any form of remuneration.
5. Debtors
2023
2022
£
£
Amounts owed by group undertakings
1,782
Prepayments and accrued income
310,239
Corporation tax recoverable
392,274
Other debtors
1,782
---------
-------
704,295
1,782
---------
-------
6. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
783,387
Trade creditors
209,701
16,130
Amounts owed to group undertakings
182,525
Accruals and deferred income
10,000
721,902
Social security and other taxes
64,155
119,170
Other creditors
1,335
------------
------------
1,068,578
1,039,727
------------
------------
7. Contingent liabilities
Charges have been made against the animation in favour of the following parties to secure their interests in the copyright of and title to the animation: Bank of Montreal BBC Studios Distribution Limited
8. Related party transactions
The Company has taken advantage of the exemption, under the terms of FRS 102 Paragraph 33.1A, not to disclosure related party transactions with wholly owned subsidiaries within the group. During the period all related party transactions that took place related to the production of the animation entitled 'Stanley The Can Do Hamster' and arose on an arms-length basis through the normal course of business. As such, no further transactions with related parties were undertaken such as are required to be disclosed under FRS 102 Section 1A.
9. Controlling party
The immediate parent company is Igeneration Studios Kids TV Ltd, a company incorporated in the United Kingdom. The ultimate controlling party is Igeneration Studios Limited, a company incorporated in the United Kingdom. The registered address of the ultimate controlling party is Level 1 Brockbourne house, Mount Ephraim, Tunbridge Wells, Kent, England, TN4 8BS.