Company Registration No. 11880401 (England and Wales)
Sister Pictures (Power) Limited
Annual report and financial statements
for the year ended 31 July 2023
Sister Pictures (Power) Limited
Company information
Directors
Jane Featherstone
Daniel Isaacs
Secretary
Matthew Wesley
Company number
11880401
Registered office
17-18 Hayward's Place
London
EC1R 0EQ
Independent auditor
Saffery LLP
71 Queen Victoria Street
London
EC4V 4BE
Sister Pictures (Power) Limited
Contents
Page
Strategic report
1
Directors' report
2
Directors' responsibilities statement
3
Independent auditor's report
4 - 7
Statement of comprehensive income
8
Statement of financial position
9
Statement of changes in equity
10
Notes to the financial statements
11 - 18
Sister Pictures (Power) Limited
Strategic report
For the year ended 31 July 2023
1

The directors present the strategic report for the year ended 31 July 2023.

Review of the business

The profit after tax for the year amounted to £2,564,836 (2022: £4,906,262) and the Company had net assets of £25,412,914 (2022: £23,848,078). The directors do not recommend the payment of a dividend in respect of the financial year ended 31 July 2023.

Principal risks and uncertainties

The directors have reviewed the risks and resultant uncertainties facing the business as being the ability to complete the production. However, the commissioning entity has provided sufficient assurance that it will support the Company and continue to fully finance the production

Key performance indicators

The directors consider the company's key financial performance indicators to be whether the television show is produced in line with the agreed budget. At the period end, the estimated cost of the television show had exceeded budget due to delays in filming, however all additional costs of production to date are adequately insured and have been recovered where possible, and the company continued to be funded by the financiers.

 

The directors consider the company's key non-financial performance indicator to be whether the television programme being produced is certified as British. The programme has been awarded an Interim British High-end Television Certificate.

On behalf of the board

Daniel Isaacs
Director
17 April 2024
Sister Pictures (Power) Limited
Directors' report
For the year ended 31 July 2023
2

The directors present their annual report and financial statements for the year ended 31 July 2023.

Principal activities

The principal activity of the company is the production of television programmes. The directors do not envisage any change in the principal activity during the forthcoming year.

Results and dividends

The results for the year are set out on page 8.

No ordinary dividends were paid. The directors do not recommend payment of a final dividend.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

Jane Featherstone
Daniel Isaacs
Auditor

The auditor, Saffery LLP, is deemed to be reappointed under section 487(2) of the Companies Act 2006.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

On behalf of the board
Daniel Isaacs
Director
17 April 2024
Sister Pictures (Power) Limited
Directors' responsibilities statement
For the year ended 31 July 2023
3

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

 

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).

 

Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

 

 

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Sister Pictures (Power) Limited
Independent auditor's report
To the member of Sister Pictures (Power) Limited
4
Opinion

We have audited the financial statements of Sister Pictures (Power) Limited (the 'company') for the year ended 31 July 2023 which comprise the statement of comprehensive income, the statement of financial position, the statement of changes in equity and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

 

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

 

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

 

We have nothing to report in this regard.

Sister Pictures (Power) Limited
Independent auditor's report (continued)
To the member of Sister Pictures (Power) Limited
5

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

 

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors' report.

 

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

 

Responsibilities of directors

As explained more fully in the directors' responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Sister Pictures (Power) Limited
Independent auditor's report (continued)
To the member of Sister Pictures (Power) Limited
6

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud are detailed below.

 

Identifying and assessing risks related to irregularities:

We assessed the susceptibility of the company’s financial statements to material misstatement and how fraud might occur, including through discussions with the directors, discussions within our audit team planning meeting, updating our record of internal controls and ensuring these controls operated as intended. We evaluated possible incentives and opportunities for fraudulent manipulation of the financial statements. We identified laws and regulations that are of significance in the context of the company by discussions with directors and by updating our understanding of the sector in which the company operates.

 

Laws and regulations of direct significance in the context of the company include The Companies Act 2006 and UK Tax legislation, specifically relating to creative industry tax credits.

 

Audit response to risks identified

We considered the extent of compliance with these laws and regulations as part of our audit procedures on the related financial statement items including a review of financial statement disclosures. We reviewed the company's records of breaches of laws and regulations and correspondence with relevant authorities to identify potential material misstatements arising. We discussed the company's policies and procedures for compliance with laws and regulations with members of management responsible for compliance. We have reviewed management's assessment of how the group, and productions, comply with relevant laws and regulations governing access to the creative industry tax credits.

During the planning meeting with the audit team, the engagement partner drew attention to the key areas which might involve non-compliance with laws and regulations or fraud. We enquired of management whether they were aware of any instances of non-compliance with laws and regulations or knowledge of any actual, suspected or alleged fraud. We addressed the risk of fraud through management override of controls by testing the appropriateness of journal entries and identifying any significant transactions that were unusual or outside the normal course of business. We assessed whether judgements made in making accounting estimates gave rise to a possible indication of management bias. At the completion stage of the audit, the engagement partner’s review included ensuring that the team had approached their work with appropriate professional scepticism and thus the capacity to identify non-compliance with laws and regulations and fraud.

There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Sister Pictures (Power) Limited
Independent auditor's report (continued)
To the member of Sister Pictures (Power) Limited
7

Use of our report

This report is made solely to the company's member in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's member those matters we are required to state to the member in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's member, for our audit work, for this report, or for the opinions we have formed.

Nigel Walde
Senior Statutory Auditor
For and on behalf of Saffery LLP
19 April 2024
Chartered Accountants
Statutory Auditors
71 Queen Victoria Street
London
EC4V 4BE
Sister Pictures (Power) Limited
Statement of comprehensive income
For the year ended 31 July 2023
8
2023
2022
Notes
£
£
Turnover
3
27,335,058
27,320,820
Cost of sales
(27,319,558)
(27,659,854)
Gross profit/(loss)
15,500
(339,034)
Administrative expenses
(15,500)
(21,750)
Other operating income
2,564,836
5,267,046
Profit before taxation
2,564,836
4,906,262
Tax on profit
6
-
0
-
0
Profit for the financial year
2,564,836
4,906,262

The income statement has been prepared on the basis that all operations are continuing operations.

Sister Pictures (Power) Limited
Statement of financial position
As at 31 July 2023
9
2023
2022
Notes
£
£
£
£
Current assets
Debtors
8
22,080,352
7,390,872
Cash at bank and in hand
4,436,780
25,084,174
26,517,132
32,475,046
Creditors: amounts falling due within one year
9
(1,104,218)
(9,626,968)
Net current assets
25,412,914
22,848,078
Capital and reserves
Called up share capital
11
1
1
Profit and loss reserves
25,412,913
22,848,077
Total equity
25,412,914
22,848,078
The financial statements were approved by the board of directors and authorised for issue on 17 April 2024 and are signed on its behalf by:
Daniel Isaacs
Director
Company Registration No. 11880401
Sister Pictures (Power) Limited
Statement of changes in equity
For the year ended 31 July 2023
10
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 August 2021
1
17,941,815
17,941,816
Year ended 31 July 2022:
Profit and total comprehensive income for the year
-
4,906,262
4,906,262
Balance at 31 July 2022
1
22,848,077
22,848,078
Year ended 31 July 2023:
Profit and total comprehensive income for the year
-
2,564,836
2,564,836
Balance at 31 July 2023
1
25,412,913
25,412,914
Sister Pictures (Power) Limited
Notes to the financial statements
For the year ended 31 July 2023
11
1
Accounting policies
Company information

Sister Pictures (Power) Limited is a private company limited by shares incorporated in England and Wales. The registered office is 17-18 Hayward's Place, London, EC1R 0EQ.

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.

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, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:

 

 

The financial statements of the company are consolidated in the financial statements of Sister Holdings Limited. These consolidated financial statements are available from its registered office, Utopia Village, 7 Chalcot Road, London, United Kingdom, NW1 8LH.

1.2
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Sister Pictures (Power) Limited
Notes to the financial statements (continued)
For the year ended 31 July 2023
1
Accounting policies (continued)
12
1.3
Turnover

In respect of long-term contracts and contracts for on-going service, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Value of work done in respect of long-term contracts and contracts for on-going services is determined by reference to the stage of completion.

 

The "percentage of completion method" is used to determine the appropriate amount to recognise in a given period. The stage of completion is measured by the proportion of contract costs incurred for work performed to date compared to the estimated total contract costs. Costs incurred in the period in connection with future activity on a contract are excluded from contract costs in determining the stage of completion. These costs are presented as stocks, prepayments, or other assets depending on their nature, and provided it is probable they will be recovered.

1.4
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.

1.5
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 statement of financial position 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, 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 financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Sister Pictures (Power) Limited
Notes to the financial statements (continued)
For the year ended 31 July 2023
1
Accounting policies (continued)
13
Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

 

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

 

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

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.

Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

 

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Sister Pictures (Power) Limited
Notes to the financial statements (continued)
For the year ended 31 July 2023
1
Accounting policies (continued)
14
Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.6
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.

1.7
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 income statement 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.

1.8
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.

1.9
Retirement benefits

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

1.10
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions where practicable, else at the average rate over the period in which the transactions were incurred. 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.

2
Critical accounting judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Sister Pictures (Power) Limited
Notes to the financial statements (continued)
For the year ended 31 July 2023
2
Critical accounting judgements and key sources of estimation uncertainty (continued)
15
Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Tax credit estimate

The key accounting estimate within the financial statements for this company is the valuation of the High End TV tax credit available. The estimate is based on the assessment of the value of qualifying expenditure as per HMRC legislations and guidance plus assessment of the qualification of the underlying production as eligible for the tax relief.

3
Turnover
2023
2022
£
£
Turnover analysed by class of business
Sale of rights
27,335,058
27,320,820
2023
2022
£
£
Turnover analysed by geographical market
United Kingdom
27,335,058
27,320,820
4
Operating profit
2023
2022
Operating profit for the year is stated after charging:
£
£
Fees payable to the company's auditor for the audit of the company's financial statements
12,000
17,000
5
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
10
57
Sister Pictures (Power) Limited
Notes to the financial statements (continued)
For the year ended 31 July 2023
5
Employees (continued)
16

Their aggregate remuneration comprised:

2023
2022
£
£
Wages and salaries
707,769
2,673,453
Social security costs
91,224
324,633
Pension costs
8,473
29,277
807,466
3,027,363
6
Taxation

The increase in the UK corporation tax rate which was effective from 1 April 2023 has increased the company's future current tax charge and the impact on deferred tax in the current period is £nil.

 

In October 2021, the Organisation for Economic Co-operation and Development (OECD) agreed a two-pillar solution to address the tax challenges arising from the digitalisation of the economy. We are working through the implications of this and the financial impact it might have on the company.

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2023
2022
£
£
Profit before taxation
2,564,836
4,906,262
Expected tax charge based on the standard rate of corporation tax in the UK of 21.01% (2022: 19.00%)
538,872
932,190
Enhanced losses arising from the the film tax credit
(2,694,359)
(4,660,960)
Difference between the rate of corporation tax and the rate of relief under the film tax credit
(409,349)
(1,177,507)
Tax credit recognised in other operating income
2,564,836
4,906,277
Taxation charge for the year
-
-
7
Government grants

Government grants of £2,564,836 (year ended 31 July 2022: £4,906,262) have been recognised in the year.

 

£2,564,836 (year ended 31 July 2022: £4,906,262) relates to the High End TV tax credit which will be obtained in relation to the cost of production for the television series.

 

There are no unfulfilled conditions at the balance sheet date. The amount is included in other operating income.

Sister Pictures (Power) Limited
Notes to the financial statements (continued)
For the year ended 31 July 2023
17
8
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
-
0
6,004
Corporation tax recoverable
7,475,953
4,906,262
Amounts owed by group undertakings
14,598,844
197,296
Other debtors
5,555
364,099
Prepayments and accrued income
-
0
1,917,211
22,080,352
7,390,872
9
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
369,091
130,155
Amounts owed to group undertakings
-
0
8,391,889
Other creditors
112,230
362,811
Accruals and deferred income
622,897
742,113
1,104,218
9,626,968
10
Retirement benefit schemes
2023
2022
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
8,473
29,277

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

11
Share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary share of £1 each
1
1
1
1
12
Related party transactions

As a wholly-owned subsidiary of Sister Pictures (Power Rights) Limited, the company has taken advantage of the exemption in FRS 102 paragraph 33.1A regarding the disclosure of related party transactions with other wholly-owned subsidiaries of the group.

Sister Pictures (Power) Limited
Notes to the financial statements (continued)
For the year ended 31 July 2023
18
13
Controlling party

The immediate parent undertaking is Sister Pictures (Power Rights) Limited, a company incorporated in England and Wales.

 

The ultimate undertaking is Sister Original Limited, a company incorporated in England and Wales.

 

The smallest and largest group for which accounts are prepared and in which the results of the company are consolidated is Sister Holdings Limited. Copies of the group accounts can be obtained from Utopia Village, 7 Chalcot Road, London, United Kingdom, NW1 8LH.

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