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Registered number: 14097649









ISADORA MOON LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 MAY 2023

 
ISADORA MOON LIMITED
 
 
COMPANY INFORMATION


Directors
M Mcfadyen 
D Thorpe 




Registered number
14097649



Registered office
Orbital House
20 Eastern Road

Romford

Essex

RM1 3PJ




Accountants
Grant Thornton UK LLP
Chartered Accountants

Royal Liver Building

Liverpool

L3 1PS





 
ISADORA MOON LIMITED
 

CONTENTS



Page
Accountants' Report
1
Statement of Financial Position
2
Statement of Changes in Equity
3
Notes to the Financial Statements
4 - 7


  
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Report to the directors on the preparation of the unaudited statutory financial statements of Isadora Moon Limited for the period ended 31 May 2023 

We have compiled the accompanying financial statements of Isadora Moon Limited (the ‘company’)  based on the information you have provided. These financial statements comprise the Statement of Financial Position of Isadora Moon Limited as at 31 May 2023, the Statement of Changes in Equity for the period then ended, and a summary of significant accounting policies and other explanatory information. 

We performed this compilation engagement in accordance with International Standard on Related Services 4410 (Revised), 'Compilation Engagements'.

We have applied our expertise in accounting and financial reporting to assist you in the preparation and presentation of these financial statements in accordance with applicable law and United Kingdom Accounting Standardsincluding Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). As a member firm of the Institute of Chartered Accountants in England and Waleswe are subject to its ethical and other professional requirements which are detailed at www.icaew.com

These financial statements and the accuracy and completeness of the information used to compile them are your responsibility.

Since a compilation engagement is not an assurance engagement, we are not required to verify the accuracy or completeness of the information you provided to us to compile these financial statements. Accordingly, we do not express an audit opinion or a review conclusion on whether these financial statements are prepared in accordance with United Kingdom Generally Accepted Accounting Practice.

This report is made solely to the Company's directors, as a body,  in accordance with the terms of our engagement letter dated 14 November 2023Our work has been undertaken solely to prepare for your approval the financial statements of the company and state those matters that we have agreed to state to the Company's directors, as a body,  in this report in accordance with our engagement letter dated 14 November 2023. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its directors, as a body,  for our work or for this report.




Grant Thornton UK LLP
 
Chartered Accountants
  
Liverpool

8 February 2024
Page 1

 
ISADORA MOON LIMITED
REGISTERED NUMBER: 14097649

STATEMENT OF FINANCIAL POSITION
AS AT 31 MAY 2023

31 May 2023
Note
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
610,197

Cash at bank and in hand
  
2,960,450

  
3,570,647

Creditors: amounts falling due within one year
 5 
(3,098,242)

Net current assets
  
 
 
472,405

Total assets less current liabilities
  
472,405

  

Net assets
  
472,405


Capital and reserves
  

Called up share capital 
 6 
100

Profit and loss account
  
472,305

  
472,405


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 period 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 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 Income and Retained Earnings 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 on 8 February 2024.




D Thorpe
Director

Date:
The notes on pages 4 to 7 form part of these financial statements.

Page 2

 
ISADORA MOON LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 MAY 2023


Called up share capital
Profit and loss account
Total equity

£
£
£

At incorporation
-
-
-


Comprehensive income for the period

Profit for the period
-
472,305
472,305

Shares issued during the period
100
-
100


At 31 May 2023
100
472,305
472,405

The notes on pages 4 to 7 form part of these financial statements.

Page 3

 
ISADORA MOON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2023

1.


General information

Isadora Moon is a private company limited by shares and is registered in England and Wales. The registered number is 14097649 and the registered office is Orbital House, 20 Eastern Road, Romford, England, RM1 3PJ.
The company was incorporated on 10 May 2022.

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.

 
2.2

Going concern

The directors have considered the company’s ability to continue as a going concern. They have formed the view that, as at the date of approving the financial statements, there is reasonable expectation that the company will have adequate resources to meet its liabilities as they fall due for at least 12 months from the date of signing these financial statements. 

 
2.3

Revenue

Revenue is in relation to the production of a television programme. Production funding is recognised in the profit and loss over the period of the production and in accordance with underlying contracts.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

Taxation

Tax is recognised in profit or loss except that a charge 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 reporting date in the countries where the Company operates and generates income.

Page 4

 
ISADORA MOON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2023

2.Accounting policies (continued)

 
2.7

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.

 
2.8

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.

 
2.9

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Statement of Financial Position when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.


 

Page 5

 
ISADORA MOON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2023

2.Accounting policies (continued)


2.9
Financial instruments (continued)

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees

The average monthly number of employees, including directors, during the period was 13.


4.


Debtors

31 May 2023
£


Other debtors
1,619

Prepayments and accrued income
136,273

Tax recoverable
472,305

610,197



5.


Creditors: Amounts falling due within one year

31 May 2023
£

Trade creditors
181,928

Amounts owed to group undertakings
55,633

Other taxation and social security
195,893

Other creditors
2,624

Accruals and deferred income
2,662,164

3,098,242



6.


Share capital

31 May 2023
£
Allotted, called up and fully paid


Page 6

 
ISADORA MOON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2023

6.Share capital (continued)

100 Ordinary shares of £1.00 each
100


On 10 May 2022, 100 £1 ordinary shares were issued at par. 


7.


Pension commitments

The company operates a defined contribution pension scheme. The pension cost charge represents contributions payable by the company to the fund during the year and amounted to £7,761. Contributions totaling £2,624 were payable to the fund at the reporting date and are included in other creditors.


8.


Commitments under operating leases

At 31 May 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
£


Not later than 1 year
1,898


9.


Related party transactions

As the company is a wholly owned subsidary, the company has taken advantage of the exemption contained in FRS102 section 33.7 and has therefore not disclosed transactions with other wholly owned group undertakings.


10.


Controlling party

Isadora Moon Limited is a 100% subsidary of Kelebek Media Limited, a company incorporated in England and Wales.

Page 7