Caseware UK (AP4) 2022.0.179 2022.0.179 2023-06-302023-06-30Motion picture production activities2022-07-010false0falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12489293 2022-07-01 2023-06-30 12489293 2021-07-01 2022-06-30 12489293 2023-06-30 12489293 2022-06-30 12489293 c:Director1 2022-07-01 2023-06-30 12489293 d:CurrentFinancialInstruments 2023-06-30 12489293 d:CurrentFinancialInstruments 2022-06-30 12489293 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 12489293 d:CurrentFinancialInstruments d:WithinOneYear 2022-06-30 12489293 d:ShareCapital 2023-06-30 12489293 d:ShareCapital 2022-06-30 12489293 d:RetainedEarningsAccumulatedLosses 2023-06-30 12489293 d:RetainedEarningsAccumulatedLosses 2022-06-30 12489293 c:OrdinaryShareClass1 2022-07-01 2023-06-30 12489293 c:OrdinaryShareClass1 2023-06-30 12489293 c:OrdinaryShareClass1 2022-06-30 12489293 c:FRS102 2022-07-01 2023-06-30 12489293 c:AuditExempt-NoAccountantsReport 2022-07-01 2023-06-30 12489293 c:FullAccounts 2022-07-01 2023-06-30 12489293 c:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 12489293










LEAD FILMS LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2023

 
LEAD FILMS LTD
REGISTERED NUMBER: 12489293

BALANCE SHEET
AS AT 30 JUNE 2023

2023
2022
Note
£
£

  

Current assets
  

Stocks and work in progress
 4 
14,065,622
11,754,644

Debtors: amounts falling due within one year
 5 
19,859
61,609

Cash at bank and in hand
 6 
110,376
64,430

  
14,195,857
11,880,683

Creditors: amounts falling due within one year
 7 
(11,977,476)
(9,636,448)

Net current assets
  
 
 
2,218,381
 
 
2,244,235

Total assets less current liabilities
  
2,218,381
2,244,235

  

Net assets
  
2,218,381
2,244,235


Capital and reserves
  

Called up share capital 
 8 
100
100

Profit and loss account
  
2,218,281
2,244,135

  
2,218,381
2,244,235


The directors consider 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 directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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 profit and loss account 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: 




................................................
Ms Shariffa
Director

Date: 5 February 2024

Page 1

 
LEAD FILMS LTD
REGISTERED NUMBER: 12489293

BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2023

The notes on pages 3 to 5 form part of these financial statements.

Page 2

 
LEAD FILMS LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1.


General information

The company Lead Films Ltd was incorporated in England & Wales on 28 February 2020 and started trading on the same date.

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each year end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at year-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Profit and loss account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.3

Revenue

Revenue is derived from a contract with the commissioning distributor and is recognised upon final delivery of the commissioned film. Final delivery is the point at which the film is available for theatrical release. 
                                                                                                                                                                             Film tax credits due are recognised within other operating income. These are received as a credit against eligible expenditure incurred on the production of the film.

Page 3

 
LEAD FILMS LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.4

Stocks and work in progress

Production costs incurred during the year are recognised as work in progress on the balance sheet
until the film is delivered to the commissioning distributor.

Upon delivery of the film, it is acquired by the commissioning distributor and the production costs are then charged to the profit and loss account as cost of sales.

 
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.


3.


Employees

The company has no employees other than the directors, who did not receive any remuneration (2022 - £NIL).


4.


Stocks and work in progress

2023
2022
£
£

Production costs
14,065,622
11,754,644

14,065,622
11,754,644



5.


Debtors

2023
2022
£
£


Other debtors
19,859
61,609

19,859
61,609


Page 4

 
LEAD FILMS LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
110,376
64,430

110,376
64,430



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Other loans
11,960,429
9,625,400

Trade creditors
3,396
-

Other creditors
1,103
-

Accruals and deferred income
12,548
11,048

11,977,476
9,636,448



8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 (2022 - 100) Ordinary shares of £1 each
100
100



9.


Controlling party

Ms Shariffa is the ultimate controlling party owing to her majority shareholding. 

Page 5