Caseware UK (AP4) 2022.0.179 2022.0.179 2023-02-282023-02-28No description of principal activity2022-03-01falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.11truetrue 03518746 2022-03-01 2023-02-28 03518746 2021-03-01 2022-02-28 03518746 2023-02-28 03518746 2022-02-28 03518746 c:Director1 2022-03-01 2023-02-28 03518746 d:CurrentFinancialInstruments 2023-02-28 03518746 d:CurrentFinancialInstruments 2022-02-28 03518746 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 03518746 d:CurrentFinancialInstruments d:WithinOneYear 2022-02-28 03518746 d:ShareCapital 2023-02-28 03518746 d:ShareCapital 2022-02-28 03518746 d:RetainedEarningsAccumulatedLosses 2023-02-28 03518746 d:RetainedEarningsAccumulatedLosses 2022-02-28 03518746 c:FRS102 2022-03-01 2023-02-28 03518746 c:AuditExempt-NoAccountantsReport 2022-03-01 2023-02-28 03518746 c:FullAccounts 2022-03-01 2023-02-28 03518746 c:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 03518746 2 2022-03-01 2023-02-28 iso4217:GBP xbrli:pure

Registered number: 03518746









A MILLION FREDS PRODUCTIONS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 28 FEBRUARY 2023

 
A MILLION FREDS PRODUCTIONS LIMITED
REGISTERED NUMBER: 03518746

BALANCE SHEET
AS AT 28 FEBRUARY 2023

2023
2022
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
9,811
10,388

Cash at bank and in hand
 5 
4,054
7,928

  
13,865
18,316

Creditors: amounts falling due within one year
 6 
(1,493,314)
(1,487,495)

Net current liabilities
  
 
 
(1,479,449)
 
 
(1,469,179)

Total assets less current liabilities
  
(1,479,449)
(1,469,179)

  

Net liabilities
  
(1,479,449)
(1,469,179)


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
(1,479,450)
(1,469,180)

  
(1,479,449)
(1,469,179)


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 her 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 16 February 2024.




J I Ulfane
Director

The notes on pages 5 to 7  form part of these financial statements.
Page 1

 
A MILLION FREDS PRODUCTIONS LIMITED
REGISTERED NUMBER: 03518746
    
BALANCE SHEET (CONTINUED)
AS AT 28 FEBRUARY 2023


Page 2

 
A MILLION FREDS PRODUCTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1.


General information

A Million Freds Productions Limited is a private company limited by shares and registered in England and Wales. The address of its registered office is 124 Finchley Road, London, NW3 5JS.

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.

The following principal accounting policies have been applied:

 
2.2

Going concern

The company is showing a shortfall of shareholders' funds at the balance sheet date of £1,479,449 (2022: £1,469,179). In order to continue its operations it is dependent on the continuing support of its principal creditor and the director, neither of whom are pressing for immediate payment of loans totalling £1,486,059 (2022: £1,481,059).
The  director  has  given  assurances  that  this  support  will  not  be  withdrawn  and  accordingly  is continuing to rely upon it. Therefore after reviewing the company's funding resources, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.  The director therefore continues to adopt the going concern basis in preparing the company's financial statements.

 
2.3

Revenue

Turnover comprises the company's share, as producer, of admissions receipts and after the theatres have deducted their share, relevant commissions and banking charges.  Revenue is recognised in the period to which the attendance occurs.
Revenue also comprises grants receivable as contributions towards the staging of theatrical productions and are recognised on receipt.

 
2.4

Interest income

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

Page 3

 
A MILLION FREDS PRODUCTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.5

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 balance sheet date in the countries where the Company operates and generates income.

The company is eligible to claim a tax credit on qualifying theatre production costs, the tax credit comprises relief based on total net costs and an additional deduction for enhanceable expenditure. The company claims a payment based on the amount of enhanced expenditure and carries forward losses arising from total net costs against future profits.

 
2.6

Debtors

Short term debtors are measured at transaction price, less any impairment.

 
2.7

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.


 
2.8

Creditors

Short term creditors are measured at the transaction price.

 
2.9

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).


4.


Debtors

2023
2022
£
£


Other debtors
898
-

Tax recoverable
8,913
10,388

9,811
10,388


Page 4

 
A MILLION FREDS PRODUCTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

5.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
4,054
7,928

4,054
7,928



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Other taxation and social security
-
306

Other creditors
1,486,059
1,481,059

Accruals
7,255
6,130

1,493,314
1,487,495



7.


Related party transactions

During the year the director continued to provide the company with an unsecured interest free loan. At the balance sheet date creditors include £893,030 (2022: £888,030) due to the director.

 
Page 5