Object And Animal Limited
Unaudited Financial Statements
For the year ended 31 May 2023
Pages for Filing with Registrar
Company Registration No. 11354691 (England and Wales)
Object and Animal Limited
Object And Animal Limited
Company Information
Directors
J Benoliel
M L Clement
J D Cunningham
D C Thomas
Company number
11354691
Registered office
6th Floor
Charlotte Building
17 Gresse Street
London
United Kingdom
W1T 1QL
Accountants
Moore Kingston Smith LLP
Charlotte Building
17 Gresse Street
London
W1T 1QL
Object and Animal Limited
Object And Animal Limited
Contents
Page
Balance sheet
1 - 2
Statement of changes in equity
Notes to the financial statements
3 - 7
Object and Animal Limited
Object And Animal Limited
Balance Sheet
As at 31 May 2023
Page 1
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
61,056
11,987
Current assets
Work in progress
2,459
233,297
Debtors
4
1,946,830
2,263,517
Cash at bank and in hand
142,376
1,036,653
2,091,665
3,533,467
Creditors: amounts falling due within one year
5
(1,147,321)
(2,152,957)
Net current assets
944,344
1,380,510
Total assets less current liabilities
1,005,400
1,392,497
Creditors: amounts falling due after more than one year
6
(35,941)
-
0
Provisions for liabilities
(15,429)
(103)
Net assets
954,030
1,392,394
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
953,930
1,392,294
Total equity
954,030
1,392,394

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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

The directors acknowledge their 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 year 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.

Object and Animal Limited
Object And Animal Limited
Balance Sheet (Continued)
As at 31 May 2023
Page 2
The financial statements were approved by the board of directors and authorised for issue on 6 March 2024 and are signed on its behalf by:
D C Thomas
Director
Company Registration No. 11354691
Object and Animal Limited
Object And Animal Limited
Notes to the Financial Statements
For the year ended 31 May 2023
Page 3
1
Accounting policies
Company information

Object and Animal Limited is a private company limited by shares incorporated in England and Wales. The registered office is 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

These financial statements are prepared on the going concern basis. The director believes that the company will have sufficient funds to settle all of it's liabilities as they fall due for at least 12 months from signing the financial statements.

1.3
Turnover

Turnover represents amounts receivable for provision of services for the principal activity of production of commercials for TV and cinema.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
25% Straight Line
Motor vehicles

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Cash at bank and in hand

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.

Object and Animal Limited
Object And Animal Limited
Notes to the Financial Statements (Continued)
For the year ended 31 May 2023
1
Accounting policies
(Continued)
Page 4
1.6
Financial instruments

The company only has basic financial instruments measured at amortised cost, with no financial instruments classified as other or basic instruments measured at fair value.

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.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Object and Animal Limited
Object And Animal Limited
Notes to the Financial Statements (Continued)
For the year ended 31 May 2023
1
Accounting policies
(Continued)
Page 5
1.10
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

The cost of providing benefits under defined benefit plans is determined separately for each plan using the projected unit credit method, and is based on actuarial advice.

 

The change in the net defined benefit liability arising from employee service during the year is recognised as an employee cost. The cost of plan introductions, benefit changes, settlements and curtailments are recognised as an expense in measuring profit or loss in the period in which they arise.

The net interest element is determined by multiplying the net defined benefit liability by the discount rate, taking into account any changes in the net defined benefit liability during the period as a result of contribution and benefit payments. The net interest is recognised in profit or loss as other finance revenue or cost.

 

Remeasurement changes comprise actuarial gains and losses, the effect of the asset ceiling and the return on the net defined benefit liability excluding amounts included in net interest. These are recognised immediately in other comprehensive income in the period in which they occur and are not reclassified to profit and loss in subsequent periods.

The net defined benefit pension asset or liability in the balance sheet comprises the total for each plan of the present value of the defined benefit obligation (using a discount rate based on high quality corporate bonds), less the fair value of plan assets out of which the obligations are to be settled directly. Fair value is based on market price information, and in the case of quoted securities is the published bid price. The value of a net pension benefit asset is limited to the amount that may be recovered either through reduced contributions or agreed refunds from the scheme.

1.11
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.12
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.

Object and Animal Limited
Object And Animal Limited
Notes to the Financial Statements (Continued)
For the year ended 31 May 2023
Page 6
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 6 (2022 - 5).

3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 June 2022
19,929
Additions
72,239
At 31 May 2023
92,168
Depreciation and impairment
At 1 June 2022
7,942
Depreciation charged in the year
23,170
At 31 May 2023
31,112
Carrying amount
At 31 May 2023
61,056
At 31 May 2022
11,987
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
620,301
913,142
Other debtors
517,109
228,901
Prepayments and accrued income
809,420
1,121,474
1,946,830
2,263,517
Object and Animal Limited
Object And Animal Limited
Notes to the Financial Statements (Continued)
For the year ended 31 May 2023
Page 7
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
575,930
751,429
Corporation tax
101,393
250,536
Other taxation and social security
7,350
6,433
Other creditors
9,822
-
Accruals and deferred income
452,826
1,144,559
1,147,321
2,152,957
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
35,941
-
7
Called up share capital
2023
2022
Ordinary share capital
£
£
Issued and fully paid
100 ordinary shares of £1 each
100
100
8
Related party transactions

Included in other debtors is a balance of £93,613 (2022: £24,685) due from Object and Animal USA LLC, a company with directors in common. Dividends totalling £844,000 (2022 - £639,500) were paid in the year in respect of shares held by the company's directors.

9
Parent company

There is no ultimate controlling party.

2023-05-312022-06-01falseCCH SoftwareCCH Accounts Production 2023.200No description of principal activityJ BenolielM L ClementJ D CunninghamD C Thomas113546912022-06-012023-05-3111354691bus:Director12022-06-012023-05-3111354691bus:Director22022-06-012023-05-3111354691bus:Director32022-06-012023-05-3111354691bus:Director42022-06-012023-05-3111354691bus:RegisteredOffice2022-06-012023-05-31113546912023-05-31113546912022-05-3111354691core:OtherPropertyPlantEquipment2023-05-3111354691core:OtherPropertyPlantEquipment2022-05-3111354691core:CurrentFinancialInstruments2023-05-3111354691core:CurrentFinancialInstruments2022-05-3111354691core:Non-currentFinancialInstruments2023-05-3111354691core:Non-currentFinancialInstruments2022-05-3111354691core:ShareCapital2023-05-3111354691core:ShareCapital2022-05-3111354691core:RetainedEarningsAccumulatedLosses2023-05-3111354691core:RetainedEarningsAccumulatedLosses2022-05-3111354691core:FurnitureFittings2022-06-012023-05-3111354691core:OtherPropertyPlantEquipment2022-05-3111354691core:OtherPropertyPlantEquipment2022-06-012023-05-3111354691bus:PrivateLimitedCompanyLtd2022-06-012023-05-3111354691bus:SmallCompaniesRegimeForAccounts2022-06-012023-05-3111354691bus:FRS1022022-06-012023-05-3111354691bus:AuditExemptWithAccountantsReport2022-06-012023-05-3111354691bus:FullAccounts2022-06-012023-05-31xbrli:purexbrli:sharesiso4217:GBP