REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 May 2023 |
for |
Thompson Pictures Ltd |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 May 2023 |
for |
Thompson Pictures Ltd |
Thompson Pictures Ltd (Registered number: 06605208) |
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 |
Thompson Pictures Ltd |
Company Information |
for the Year Ended 31 May 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
39 Long Acre |
London |
WC2E 9LG |
Thompson Pictures Ltd (Registered number: 06605208) |
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 ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
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. |
Thompson Pictures Ltd (Registered number: 06605208) |
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 |
Thompson Pictures Ltd (Registered number: 06605208) |
Notes to the Financial Statements |
for the Year Ended 31 May 2023 |
1. | STATUTORY INFORMATION |
Thompson Pictures Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Tangible fixed assets |
Motor vehicles - 25% straight line |
Equipment - 25% straight line |
Electric Bike - 25% straight line |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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. |
Thompson Pictures Ltd (Registered number: 06605208) |
Notes to the Financial Statements - continued |
for the Year Ended 31 May 2023 |
2. | ACCOUNTING POLICIES - continued |
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. |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
User |
defined | Motor |
asset | Equipment | vehicles | Totals |
£ | £ | £ | £ |
COST |
At 1 June 2022 |
Additions |
At 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 |
Thompson Pictures Ltd (Registered number: 06605208) |
Notes to the Financial Statements - continued |
for the Year Ended 31 May 2023 |
5. | FIXED ASSET INVESTMENTS |
Shares in |
group | Other |
undertakings | investments | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1 June 2022 | 1,088,550 |
Additions | 399,037 |
Revaluations | ( |
) | (26,832 | ) |
At 31 May 2023 | 1,460,755 |
NET BOOK VALUE |
At 31 May 2023 | 1,460,755 |
At 31 May 2022 | 1,088,550 |
Cost or valuation at 31 May 2023 is represented by: |
Shares in |
group | Other |
undertakings | investments | Totals |
£ | £ | £ |
Valuation in 2023 | - | 372,205 | 372,205 |
Cost | 110 | 1,088,440 | 1,088,550 |
110 | 1,460,645 | 1,460,755 |
Aggregate capital and reserves |
2023 | 2022 |
£ | £ |
The Woman in White Productions Ltd | 100 | 100 |
Hope Gap Productions Ltd | 10 | 10 |
The company owns 100% of the issued share capital of The Woman in White Productions Limited and Hope Gap Productions Ltd. |
The principal activity of all companies is that of the development and production of theatrical feature films and television. All companies are incorporated in England and Wales. |
Profit and (loss) for the year |
2023 | 2022 |
£ | £ |
The Woman in White Productions Ltd | - | - |
Hope Gap Productions Ltd | - | - |
Thompson Pictures Ltd (Registered number: 06605208) |
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 |
£ | £ |
Amounts owed by group undertakings |
Other debtors |
VAT |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.5.23 | 31.5.22 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Other creditors |
Accruals and deferred income |
8. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
During the year one of the directors received financial benefits of £449,192 (2022: £23,970) from the company and incurred expenses of £125,431 (2022: £476) on behalf of the company. The director made loan repayments of £323,761 (2022: £289,537) including interest within nine months after year-end. |
There was a notional interest at the rate of 2.25% (2022: 2.25%) amounting to £3,458 (2022: £3,565) charged to the directors' loan account. |
There was a balance of £323,761 (2022: £23,491) due to the company at the balance sheet date. |
9. | RELATED PARTY DISCLOSURES |
The company was under the joint control of Mr and Mrs Thompson throughout the current and previous years. Mr and Mrs Thompson are directors of the company. |
Thompson Pictures Ltd did not provide production services to Origin Pictures Ltd this year or in the prior year. At the year end £2,162 (2022: £2,162) was owed to Origin Pictures Ltd by Thompson Pictures Ltd. Thompson Pictures Ltd owed Origin Pictures Ltd £12,000 at the year end. D Thompson is a controlling party in Origin Pictures Ltd. |
During the year the company paid a salary of £9,067 (2022: £8,750) and dividends of £35,000 (2022: £nil) to S Thompson. S Thompson is a minority shareholder and the daughter of Mr and Mrs Thompson, the directors. |
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. |
The company has taken advantage available under FRS 102 Section 1A to not disclose transactions with fully owned subsidiaries. |