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Registration number: 10626765

Pretty Big Stories Ltd

previously trading as Hawkeye Stories Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2023

 

Pretty Big Stories Ltd
(formerly Hawkeye Stories Limited)

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 7

 

Pretty Big Stories Ltd
(formerly Hawkeye Stories Limited)

(Registration number: 10626765)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

1,754

298

Current assets

 

Debtors

5

108,522

60,066

Cash at bank and in hand

 

20,927

15,991

 

129,449

76,057

Creditors: Amounts falling due within one year

6

(70,063)

(39,735)

Net current assets

 

59,386

36,322

Total assets less current liabilities

 

61,140

36,620

Creditors: Amounts falling due after more than one year

6

(8,659)

(12,548)

Net assets

 

52,481

24,072

Capital and reserves

 

Called up share capital

1

1

Retained earnings

52,480

24,071

Shareholders' funds

 

52,481

24,072

For the financial year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 1 March 2024
 

M Bullen
Director

   
     
 

Pretty Big Stories Ltd
(formerly Hawkeye Stories Limited)

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The company was formerly known as Hawkeye Stories Limited.

The address of its registered office is:
Freshford House
Redcliffe Way
Bristol
BS1 6NL
England

These financial statements were authorised for issue by the director on 1 March 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the company, and rounded to the nearest £.

Going concern

At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the forseeable future. The director has been mindful of any potential future impact from events such as the cost of living crisis and the current situation in Ukraine and has reviewed budgets and projections for the next twelve months. From this review, the director considers that the company is unlikely to be significantly affected and thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

 

Pretty Big Stories Ltd
(formerly Hawkeye Stories Limited)

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown as gross returns, rebates and discounts.

The company recognises revenue revenue when:
- the amount of revenue can be reliably measured;
- it is probable that future economic benefits will flow to the entity;
- the entity retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the services provided;
- the cost incurred or to be incurred in respect of the transaction can be reliably measured;
- all of the significant risks and rewards of ownership have been transferred to the customer; and
- specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 group operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture, fittings and equipment

33% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the group will not be able to collect all amounts due according to the original terms of the receivables.

 

Pretty Big Stories Ltd
(formerly Hawkeye Stories Limited)

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the group does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the group has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the group’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the group has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year was 1 (2022 - 1).

 

Pretty Big Stories Ltd
(formerly Hawkeye Stories Limited)

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

4

Tangible assets

Furniture, fittings and equipment
£

Total
£

Cost or valuation

At 1 April 2022

3,101

3,101

Additions

1,890

1,890

At 31 March 2023

4,991

4,991

Depreciation

At 1 April 2022

2,803

2,803

Charge for the year

434

434

At 31 March 2023

3,237

3,237

Carrying amount

At 31 March 2023

1,754

1,754

At 31 March 2022

298

298

 

Pretty Big Stories Ltd
(formerly Hawkeye Stories Limited)

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

5

Debtors

Note

2023
£

2022
£

Amounts owed by related parties

8

77,012

43,999

Other debtors

 

25,390

16,067

Accrued income

 

6,120

-

 

108,522

60,066

6

Creditors

Due within one year

2023
£

2022
£

Loans and borrowings

4,008

4,130

Social security and other taxes

12,876

100

Accruals

8,975

6,457

Corporation tax liability

44,204

29,048

70,063

39,735

Due after one year

Loans and borrowings

8,659

12,548

7

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

8,659

12,548

2023
£

2022
£

Current loans and borrowings

Bank borrowings

4,008

4,130

 

Pretty Big Stories Ltd
(formerly Hawkeye Stories Limited)

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

8

Related party transactions

Transactions with the director

2023

At 1 April 2022
£

Advances to director
£

Repayments by director
£

At 31 March 2023
£

M Bullen

Loan to director

43,999

94,270

(61,257)

77,012

         
       

 

2022

At 1 April 2021
£

Advances to director
£

Repayments by director
£

At 31 March 2022
£

M Bullen

Loan to director

20,925

89,617

(66,543)

43,999

         
       

 


Terms of the loan
Interest on the loan is charged at the HMRC standard rate and is repayable on demand.