REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 22 August 2022 to 31 May 2023 |
for |
New Origin Ltd |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 22 August 2022 to 31 May 2023 |
for |
New Origin Ltd |
New Origin Ltd (Registered number: 14309126) |
Contents of the Financial Statements |
for the Period 22 August 2022 to 31 May 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
New Origin Ltd |
Company Information |
for the Period 22 August 2022 to 31 May 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
39 Long Acre |
London |
WC2E 9LG |
New Origin Ltd (Registered number: 14309126) |
Balance Sheet |
31 May 2023 |
Notes | £ |
CURRENT ASSETS |
Debtors | 4 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
6 |
NET 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. |
New Origin Ltd (Registered number: 14309126) |
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 |
New Origin Ltd (Registered number: 14309126) |
Notes to the Financial Statements |
for the Period 22 August 2022 to 31 May 2023 |
1. | STATUTORY INFORMATION |
New Origin 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 for production services represents amounts to which the company is entitled for services provided, and is stated after trade discounts, other taxes, and net of VAT. |
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. |
Taxation |
Taxation for the period 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. |
New Origin Ltd (Registered number: 14309126) |
Notes to the Financial Statements - continued |
for the Period 22 August 2022 to 31 May 2023 |
2. | ACCOUNTING POLICIES - continued |
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 period 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. |
Creditors |
Short-term creditors are measured at transaction price. |
Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. Where amounts are repayable on demand or within one year, they are measured at an undiscounted value. |
Going concern |
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. |
Thus, the directors continue to adopt the going concern basis of accounting in preparing financial statements. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Trade debtors |
Other debtors |
VAT |
New Origin Ltd (Registered number: 14309126) |
Notes to the Financial Statements - continued |
for the Period 22 August 2022 to 31 May 2023 |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Trade creditors |
Social security and other taxes |
Other creditors |
6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
£ |
Other creditors |
7. | RELATED PARTY DISCLOSURES |
During the period all related party transactions related to the production activities arose on an arm's-length basis through the normal course of business. |
As such, no transactions with related parties were undertaken such as are required to be disclosed under the FRS 102 Section 1A. |