Dawn Smalberg Productions UK Limited
Unaudited Financial Statements
For the period ended 30 April 2023
Pages for Filing with Registrar
Company Registration No. 14036348 (England and Wales)
Dawn Smalberg Productions UK Limited
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 5
Dawn Smalberg Productions UK Limited
Balance Sheet
As at 30 April 2023
Page 1
2023
Notes
£
£
Fixed assets
Investments
3
12,500
Current assets
Investments
4
80,340
Cash at bank and in hand
524
80,864
Creditors: amounts falling due within one year
5
(93,464)
Net current liabilities
(12,600)
Net liabilities
(100)
Capital and reserves
Called up share capital
6
100
Profit and loss reserves
(200)
Total equity
(100)
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial period ended 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 1 March 2024
D Smalberg
Director
Company Registration No. 14036348
Dawn Smalberg Productions UK Limited
Notes to the Financial Statements
For the period ended 30 April 2023
Page 2
1
Accounting policies
Company information
Dawn Smalberg Productions UK Limited is a private company limited by shares incorporated in England and Wales. The registered office is c/o 6th Floor Charlotte Building, 17 Gresse Street, London, United Kingdom, W1T 1QL.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
The company is supported by a loan from its sole shareholder and director D Smalberg. D Smalberg has confirmed that she will not require repayment of this loan for a period of not less than 12 months from the date of signature of these financial statements, unless the company is able to do so without impacting its ability to pay its other liabilities as they fall due. Furthermore she will transfer additional funding should it be required in order to meet the company's ongoing running costs during the course of that period. On that basis the accounts have been prepared on the going concern basis. true
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
Distributions from theatrical productions are recognised once they can be reliably determined, usually once a statement has been received from a third party. This is consistent with industry practice.
1.4
Fixed asset investments
Non-controlling interests are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
1.5
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Dawn Smalberg Productions UK Limited
Notes to the Financial Statements (Continued)
For the period ended 30 April 2023
1
Accounting policies
(Continued)
Page 3
1.6
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Other investments
Other investments represent investments in theatrical productions which consist of non-recourse loans advanced to a production which are repayable out of the profit of the production. These investments are initially measured at fair value which is normally the transaction price. In general fair values subsequent to initial investment cannot be measured reliably so investments in theatrical productions are subsequently measured at cost less impairment.
The company reviews the carrying amounts of its investments at each reporting period end date to determine whether there is any indication that those investments have suffered an impairment loss. If any such indication exists, the recoverable amount of the investment is estimated in order to determine the extent of the impairment loss (if any). Recoverable amount is the higher of fair value less costs to sell and value in use and in practice will generally equate to the amount of the loan which is expected to be repaid by the production.
Classification of financial liabilities
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 company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Dawn Smalberg Productions UK Limited
Notes to the Financial Statements (Continued)
For the period ended 30 April 2023
1
Accounting policies
(Continued)
Page 4
1.7
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.8
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was:
2023
Number
Total
1
3
Fixed asset investments
2023
£
Other investments other than loans
12,500
Movements in fixed asset investments
Investments
£
Cost or valuation
At 8 April 2022
-
Additions
12,500
At 30 April 2023
12,500
Carrying amount
At 30 April 2023
12,500
4
Current asset investments
2023
£
Other investments
80,340
Dawn Smalberg Productions UK Limited
Notes to the Financial Statements (Continued)
For the period ended 30 April 2023
Page 5
5
Creditors: amounts falling due within one year
2023
£
Other creditors
90,464
Accruals and deferred income
3,000
93,464
6
Called up share capital
2023
2023
Ordinary share capital
Number
£
Issued and fully paid
100 Ordinary Shares of £1 each
100
100
On incorporation 100 ordinary shares of £1 were issued for cash at par.
7
Parent company
The ultimate controlling party is D Smalberg by virtue of her majority holding in the share capital of the company. At the period end, D Smalberg was owed £90,464.