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Registration number: 08550790

Raid Production Ltd

Unaudited Financial Statements

for the Year Ended 31 May 2023

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

Raid Production Ltd

Contents

Company Information

1

Statement of Financial Position

2

Notes to the Unaudited Financial Statements

3 to 5

 

Raid Production Ltd

Company Information

Director

J J W Drake

Registered office

26-27 Bedford Square
London
WC1B 3HP

Accountants

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

Raid Production Ltd

Statement of Financial Position as at 31 May 2023

Note

2023
£

2022
£

Current assets

 

Debtors

4

58,331

387,146

Cash at bank and in hand

 

74

627

 

58,405

387,773

Creditors: Amounts falling due within one year

5

(129,690)

(332,473)

Net (liabilities)/assets

 

(71,285)

55,300

Capital and reserves

 

Called up share capital

1

1

Retained earnings

(71,286)

55,299

Shareholders' (deficit)/funds

 

(71,285)

55,300

For the financial year ending 31 May 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 his 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 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Statement of Income and Retained Earnings has been taken.

Approved and authorised by the director on 6 February 2024
 

.........................................

J J W Drake

Director

Company registration number: 08550790

 

Raid Production Ltd

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

1

General information

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

The address of its registered office is:
26-27 Bedford Square
London
WC1B 3HP

The principal activity of the company is that of the production of television programmes.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Summary of significant accounting policies

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.

Going concern

The company had net liabilities at 31 May 2023 of £71,285. At that date an amount of £70,982 was due to group undertakings. The group has agreed to continue to support the company and to not call for repayment of the amounts due until such times as the company has sufficient working capital.

After making enquiries, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, he continues to adopt the going concern basis in preparing the accounts.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of production services in the ordinary course of the company's activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises turnover from the production and distribution of television programs based on the contractual stage of completion.

 

Raid Production Ltd

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

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a charge 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 company operates and generates taxable income.

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.

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.

3

Staff numbers

The average number of persons employed by the company during the year, was 0 (2022 - 0).

4

Debtors

2023
£

2022
£

Trade debtors

2,200

13,060

Amounts owed by related parties

366

246

Other debtors

55,765

373,840

 

58,331

387,146

 

Raid Production Ltd

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

5

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Trade creditors

43,708

63,133

Amounts owed to group undertakings

70,983

94,004

Other creditors

14,999

175,336

129,690

332,473

6

Financial commitments, guarantees and contingencies

Amounts not provided for in the statement of financial position

The total amount of guarantees not included in the statement of financial position is £Nil (2022 - £163,696) secured by a floating charge over certain book debts and the associated assets of a television production project.

7

Related party transactions

In accordance with FRS 102 paragraph 1AC.35, exemption is taken not to disclose transactions in the year or amounts falling due between wholly owned group undertakings.