Caseware UK (AP4) 2022.0.179 2022.0.179 2023-12-312023-12-31true2023-04-01falseNo description of principal activity51trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 14132784 2023-04-01 2023-12-31 14132784 2022-05-26 2023-03-31 14132784 2023-12-31 14132784 2023-03-31 14132784 c:Director1 2023-04-01 2023-12-31 14132784 d:CurrentFinancialInstruments 2023-12-31 14132784 d:CurrentFinancialInstruments 2023-03-31 14132784 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 14132784 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 14132784 d:ShareCapital 2023-12-31 14132784 d:ShareCapital 2023-03-31 14132784 c:FRS102 2023-04-01 2023-12-31 14132784 c:AuditExempt-NoAccountantsReport 2023-04-01 2023-12-31 14132784 c:FullAccounts 2023-04-01 2023-12-31 14132784 c:PrivateLimitedCompanyLtd 2023-04-01 2023-12-31 14132784 2 2023-04-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 14132784









MILO THE CAT 2 LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2023

 
MILO THE CAT 2 LIMITED
REGISTERED NUMBER: 14132784

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

31 December
31 March
2023
2023
Note
£
£

  

Current assets
  

Stocks
 4 
1,154,279
515,418

Debtors: amounts falling due within one year
 5 
617,931
208,701

Cash at bank and in hand
 6 
51,550
370

  
1,823,760
724,489

Creditors: amounts falling due within one year
 7 
(1,823,660)
(724,389)

Net current assets
  
 
 
100
 
 
100

Total assets less current liabilities
  
100
100

  

Net assets
  
100
100


Capital and reserves
  

Called up share capital 
  
100
100

  
100
100


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 period in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his 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.
 
Page 1

 
MILO THE CAT 2 LIMITED
REGISTERED NUMBER: 14132784
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023


The financial statements were approved and authorised for issue by the board and were signed on its behalf on 1 March 2024.



J Moroney
Director

The notes on pages 3 to 5 form part of these financial statements.

Page 2

 
MILO THE CAT 2 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

1.


General information

Milo The Cat 2 Limited is a private company limited by shares and incorporated in England & Wales. The address of its registered office and principal place of business is Barnston House Beacon Lane, Heswall, Wirral, CH60 0EE.

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

Revenue

Revenue comprises production licence fees and pre-sales in respect of production of a television series. Turnover and attributable profit are recognised on an episodic basis once delivery of the production to the broadcaster occurs.
Where revenue received exceeds costs incurred to date and profits are not anticipated, the balance is treated as deferred income and held on the Statement of Financial Position until further costs are incurred or profits anticipated. At this point the deferred income is released to the Statement of Income and Retained Earnings

 
2.3

Interest income

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

 
2.4

Taxation

Tax is recognised in the Statement of Income and Retained Earnings. 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.
The Company is eligible to claim a tax credit on television 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 losses arising from total net costs forward against future profits.

 
2.5

Stocks

Stocks comprise television production costs, which are recorded as a current asset net of the relevant tax credit. Television production costs are amortised to the Statement of Income and Retained Earnings over the period in which rights to the relevant production are being exploited by the Company.

 
2.6

Debtors

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

Page 3

 
MILO THE CAT 2 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
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, less any impairment.

 
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, loans from banks and other
third parties and loans to related parties.


3.


Employees

The average monthly number of employees, including directors, during the period was 5 (2023 - 1).


4.


Stocks

31 December
31 March
2023
2023
£
£

Production Costs
1,154,279
515,418

1,154,279
515,418



5.


Debtors

31 December
31 March
2023
2023
£
£


Trade debtors
-
51,464

Amounts owed by group undertakings
379,914
-

Other debtors
238,017
157,237

617,931
208,701


Page 4

 
MILO THE CAT 2 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

6.


Cash and cash equivalents

31 December
31 March
2023
2023
£
£

Cash at bank and in hand
51,550
370

51,550
370



7.


Creditors: Amounts falling due within one year

31 December
31 March
2023
2023
£
£

Trade creditors
43,683
21,400

Amounts owed to group undertakings
-
2,531

Other taxation and social security
17,387
-

Other creditors
1,423,250
-

Accruals and deferred income
339,340
700,458

1,823,660
724,389


Creditors includes amounts secured by a fixed and floating charge over the assets of the company.


8.


Related party transactions

During the period, production recharges totalling £879,555 (2023 £612,066) were due to a company in which J Moroney is also a director.  Also during the period, advance totaling £350,000 was received from the company and payments totalling £736,667 were made in respect of the fees and recharges.  At the reporting date £379,914 (2023 £2,531) was receivable from the company with a common director. All transactions were carried out at arms length.


9.


Controlling party

Throughout the period, the immediate and ultimate parent undertaking was Fourth Wall Entertainment Limited.

 
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