REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 May 2023 |
for |
Origin Pictures Ltd |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 May 2023 |
for |
Origin Pictures Ltd |
Origin Pictures Ltd (Registered number: 06383012) |
Contents of the Financial Statements |
for the Year Ended 31 May 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Origin Pictures Ltd |
Company Information |
for the Year Ended 31 May 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
39 Long Acre |
London |
WC2E 9LG |
Origin Pictures Ltd (Registered number: 06383012) |
Balance Sheet |
31 May 2023 |
31.5.23 | 31.5.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Share premium |
Capital redemption reserve |
Retained earnings |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
Origin Pictures Ltd (Registered number: 06383012) |
Balance Sheet - continued |
31 May 2023 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Origin Pictures Ltd (Registered number: 06383012) |
Notes to the Financial Statements |
for the Year Ended 31 May 2023 |
1. | STATUTORY INFORMATION |
Origin Pictures Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Turnover for production services represent amounts to which the company is entitled for services provided, and is stated after trade discounts, other taxes and net of VAT. Amounts invoiced in advance are included in deferred income. |
Production funding represents the value of the work done in the period in relation to the production of films, 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. |
Tangible fixed assets |
Fixtures and fittings - 10% straight line |
Computer Equipment - 33% straight line |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Origin Pictures Ltd (Registered number: 06383012) |
Notes to the Financial Statements - continued |
for the Year Ended 31 May 2023 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
Investments |
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. |
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss. |
Impairment of fixed assets |
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. |
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cashgenerating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. |
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units. |
Origin Pictures Ltd (Registered number: 06383012) |
Notes to the Financial Statements - continued |
for the Year Ended 31 May 2023 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
and |
fittings | Equipment | Totals |
£ | £ | £ |
COST |
At 1 June 2022 |
and 31 May 2023 |
DEPRECIATION |
At 1 June 2022 |
Charge for year |
At 31 May 2023 |
NET BOOK VALUE |
At 31 May 2023 |
At 31 May 2022 |
5. | FIXED ASSET INVESTMENTS |
Shares in |
group | Other |
undertakings | investments | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1 June 2022 | 2,776,275 |
Additions | 100,000 |
Disposals | ( |
) | (117,669 | ) |
Revaluations | ( |
) | (20,326 | ) |
At 31 May 2023 | 2,738,280 |
NET BOOK VALUE |
At 31 May 2023 | 2,738,280 |
At 31 May 2022 | 2,776,275 |
Origin Pictures Ltd (Registered number: 06383012) |
Notes to the Financial Statements - continued |
for the Year Ended 31 May 2023 |
5. | FIXED ASSET INVESTMENTS - continued |
Cost or valuation at 31 May 2023 is represented by: |
Shares in |
group | Other |
undertakings | investments | Totals |
£ | £ | £ |
Valuation in 2023 | - | (37,995 | ) | (37,995 | ) |
Cost | 5 | 2,776,270 | 2,776,275 |
5 | 2,738,275 | 2,738,280 |
The company owns 100% of the issued share capital of the companies listed below: |
Aggregate capital and reserves |
2023 | 2022 |
£ | £ |
Origin Pictures (Woman in Gold) Ltd | 1 | 1 |
Jamaica Inn Productions Ltd | 1 | 1 |
Death Comes to Pemberley Ltd | 1 | 1 |
Origin Pictures (X&Y Prod) Ltd | 2 | 2 |
Profit and (loss) for the year |
2023 | 2022 |
£ | £ |
Origin Pictures (Woman in Gold) Ltd | - | - |
Jamaica Inn Productions Ltd | - | - |
Death Comes to Pemberley Ltd | - | - |
Origin Pictures (X&Y Prod) Ltd | - | - |
The principal activity of Origin Pictures (X&Y Prod) Ltd and Origin Pictures (Woman in Gold) Ltd is that of development and production of theatrical feature films. |
The activity of Death Comes to Pemberley Ltd and Jamaica Inn Productions Ltd is that of the development and production of high-end television series. |
All subsidiaries were incorporated in the England and Wales. |
The above results have been shown for all companies for the period ending 31 May 2023. |
Origin Pictures Ltd (Registered number: 06383012) |
Notes to the Financial Statements - continued |
for the Year Ended 31 May 2023 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.5.23 | 31.5.22 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
Directors' loan accounts | 79 | 269,997 |
VAT |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.5.23 | 31.5.22 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Social security and other taxes |
VAT | 975 | - |
Other creditors |
Accruals and deferred income |
8. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
During the year, the director incurred expenses of £nil (2022: £nil) on behalf of the company. During the year, the director repaid the loan and at the year end £79 was due to the company (2022: £269,997). The balance has been repaid within nine month after year-end. |
Origin Pictures Ltd (Registered number: 06383012) |
Notes to the Financial Statements - continued |
for the Year Ended 31 May 2023 |
9. | RELATED PARTY DISCLOSURES |
The company was under the control of Mr D Thompson throughout the current and previous year. Mr D Thompson is the managing director and majority shareholder. |
Thompson Pictures Ltd provided production services of £nil (2022: £nil) to Origin Pictures Ltd. £2,162 (2022: £2,162) was owed to Origin Pictures Ltd at the year end by Thompson Pictures Ltd. D Thompson is a controlling party in Thompson Pictures Ltd. |
During a prior years, the company provided production services to Hope Gap Productions Limited, a company in which Mr D Thompson is key management. Costs on the production totalled £nil (2022: £nil). The amount due from Origin Pictures Ltd was £4,998 (2022: £4,998) at the year end. |
The company has taken advantage of Section 33 of FRS 102 from disclosing transactions entered into between two or more members of a group, where any subsidiary undertaking which is a party to the transaction is wholly owned by a member of that group. |
No other transactions with related parties were undertaken such as are required to be disclosed under FRS 102 Section 1A. |