Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-3112022-05-10No description of principal activityfalsefalsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 14097915 2022-05-09 14097915 2022-05-10 2023-03-31 14097915 2021-05-10 2022-05-09 14097915 2023-03-31 14097915 c:Director1 2022-05-10 2023-03-31 14097915 d:CurrentFinancialInstruments 2023-03-31 14097915 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 14097915 d:ShareCapital 2023-03-31 14097915 d:RetainedEarningsAccumulatedLosses 2023-03-31 14097915 c:OrdinaryShareClass1 2022-05-10 2023-03-31 14097915 c:OrdinaryShareClass1 2023-03-31 14097915 c:FRS102 2022-05-10 2023-03-31 14097915 c:AuditExempt-NoAccountantsReport 2022-05-10 2023-03-31 14097915 c:FullAccounts 2022-05-10 2023-03-31 14097915 c:PrivateLimitedCompanyLtd 2022-05-10 2023-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 14097915









STEELE FILMS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 MARCH 2023

 
STEELE FILMS LIMITED
REGISTERED NUMBER: 14097915

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2023

2023
Note
£

  

Current assets
  

Debtors: amounts falling due within one year
 5 
287,077

Cash at bank and in hand
  
1,567,717

  
1,854,794

Creditors: amounts falling due within one year
 6 
(416,572)

Net current assets
  
 
 
1,438,222

Total assets less current liabilities
  
1,438,222

  

Net assets
  
1,438,222


Capital and reserves
  

Called up share capital 
  
100

Profit and loss account
  
1,438,122

  
1,438,222


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 1 February 2024.




C D McDougall
Director

The notes on pages 2 to 4 form part of these financial statements.

Page 1

 
STEELE FILMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

1.


General information

Steele Films Limited is a private company limited by share and registered in England and Wales. The address of its registered office is 124 Finchley Road, London, NW3 5JS.

The company was incorporated on 10 May 2022 and began trading on the same date.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue relates to consultancy services provided to motion picture films and TV production companies during the period excluding discounts, rebates, value added tax and other sales taxes. Revenue is generally invoiced monthly in arrears of services rendered. 

 
2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 Company operates and generates income.

Page 2

 
STEELE FILMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.5

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans from other third parties.
Basic financial assets
Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.
Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.
Basic financial liabilities
Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.
Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

 
2.6

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

The preparation of financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilites as at the reporting date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means the actual outcome could differ from those estimates. 

Accruals and accrued income
The company makes an estimate of accruals and accrued income at the reporting date based on invoices received after the reporting date and work undertaken which has not been invoiced based on quotations or estimates of amounts that may be due for payment.

Page 3

 
STEELE FILMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

4.


Employees

The average monthly number of employees, including directors, during the period was 1.


5.


Debtors

2023
£


Trade debtors
2,135

Prepayments and accrued income
284,942

287,077



6.


Creditors: Amounts falling due within one year

2023
£

Trade creditors
491

Corporation tax
343,718

Other taxation and social security
35

Other creditors
26,648

Accruals and deferred income
45,680

416,572



7.


Share capital

2023
£
Allotted, called up and fully paid


100 Ordinary shares of £1.00 each
100


On Incorporation, the company issued 100 Ordinary shares of £1 each, for cash at par.


8.


Related party transactions

At the reporting date, the company owed C D McDougall, the director, £26,648 which is included in other creditors. The balance was provided interest free and is repayable on demand.
The company has not entered into any transactions with related parties that are material and that have not been concluded under normal market conditions.

 
Page 4