Acorah Software Products - Accounts Production 14.5.601 false true true false 12 September 2023 12 March 2024 12 March 2024 15132610 Mr Martin Clemmet Mr Matthew Williams Mr Ben Arslanian Future Artists Entertainment Limited true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 15132610 2023-09-11 15132610 2024-03-12 15132610 2023-09-12 2024-03-12 15132610 frs-core:CurrentFinancialInstruments 2024-03-12 15132610 frs-core:ShareCapital 2024-03-12 15132610 frs-core:RetainedEarningsAccumulatedLosses 2024-03-12 15132610 frs-bus:PrivateLimitedCompanyLtd 2023-09-12 2024-03-12 15132610 frs-bus:FilletedAccounts 2023-09-12 2024-03-12 15132610 frs-bus:SmallEntities 2023-09-12 2024-03-12 15132610 frs-bus:AuditExempt-NoAccountantsReport 2023-09-12 2024-03-12 15132610 frs-bus:SmallCompaniesRegimeForAccounts 2023-09-12 2024-03-12 15132610 1 2023-09-12 2024-03-12 15132610 frs-bus:Director1 2023-09-12 2024-03-12 15132610 frs-bus:Director2 2023-09-12 2024-03-12 15132610 frs-bus:CompanySecretary1 2023-09-12 2024-03-12 15132610 frs-countries:EnglandWales 2023-09-12 2024-03-12
Registered number: 15132610
Atb Fae Ltd
Unaudited Financial Statements
For the Period 12 September 2023 to 12 March 2024
EAM London Limited
Chartered Tax Accountants
215-221 Borough High Street
London
SE1 1JA
Unaudited Financial Statements
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—3
Page 1
Balance Sheet
Registered number: 15132610
12 March 2024
Notes £ £
CURRENT ASSETS
Debtors 4 4,527,723
Cash at bank and in hand 1,810
4,529,533
Creditors: Amounts Falling Due Within One Year 5 (15,050,241 )
NET CURRENT ASSETS (LIABILITIES) (10,520,708 )
TOTAL ASSETS LESS CURRENT LIABILITIES (10,520,708 )
NET LIABILITIES (10,520,708 )
CAPITAL AND RESERVES
Called up share capital 6 1
Profit and Loss Account (10,520,709 )
SHAREHOLDERS' FUNDS (10,520,708)
For the period ending 12 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Matthew Williams
Director
02/04/2024
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Atb Fae Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 15132610 . The registered office is 195 Wardour Street, London, W1F 8ZG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
The company has been incorporated to make a film called "Above The Below". In common with the film and television industry the majority of the crew were hired on short term contracts for the duration of principal photography or were self-employed.
Number of directors active for the year:  2
2
4. Debtors
12 March 2024
£
Due within one year
Trade debtors 460
Other debtors 1,164,798
Corporation tax recoverable assets 2,450,791
VAT 911,674
4,527,723
Page 2
Page 3
5. Creditors: Amounts Falling Due Within One Year
12 March 2024
£
Trade creditors 852,905
Bank loans and overdrafts 14,194,336
Accruals and deferred income 3,000
15,050,241
6. Share Capital
12 March 2024
£
Allotted, Called up and fully paid 1
7. Ultimate Controlling Party
The company's ultimate controlling party is Future Artists Entertainment Limited by virtue of his ownership of 100% of the issued share capital in the company.
Page 3