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Registered number: 03174969










SHM PRODUCTIONS LIMITED










FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 AUGUST 2023

 
SHM PRODUCTIONS LIMITED
REGISTERED NUMBER: 03174969

BALANCE SHEET
AS AT 31 AUGUST 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
50,877
50,865

Current assets
  

Debtors: amounts falling due within one year
 5 
1,274,163
1,374,130

Bank and cash balances
  
4,689,088
4,310,943

  
5,963,251
5,685,073

Creditors: amounts falling due within one year
 6 
(2,835,317)
(2,893,951)

Net current assets
  
 
 
3,127,934
 
 
2,791,122

Deferred tax
 7 
(3,296)
(3,860)

Provisions for liabilities
 8 
(64,506)
(64,506)

Net assets
  
3,111,009
2,773,621


Capital and reserves
  

Called up share capital 
 9 
109
109

Profit and loss account
  
3,110,900
2,773,512

  
3,111,009
2,773,621


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 comprehensive income 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 by:
 




Professor H L Moore
Director

Date: 31 January 2024

The notes on pages 2 to 8 form part of these financial statements.

Page 1

 
SHM PRODUCTIONS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

1.


General information

SHM Productions Limited is a private company limited by shares and is registered and incorporated in England and Wales (registered number 03174969). The registered office is 20-22 Bedford Row, London, United Kingdom, WC1R 4EB.

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

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 is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 2

 
SHM PRODUCTIONS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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 balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

  
2.6

Foreign exchange

Transactions in currencies other than the functional currency (foreign currency) are initially recorded at the exchange rate prevailing on the date of the transaction.
Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the reporting date. Non-monetary assets and liabilities denominated in foreign currencies are translated at the rate ruling at the date or the transaction, or, if the asset or liability is measured at fair value, the rate when that fair value was determined.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 
SHM PRODUCTIONS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)


2.7
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25%
Computer equipment
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.11

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance sheet.

 
2.12

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, loans from banks and other thrid parties, loans to related parties and investments in ordinary shares. 

Page 4

 
SHM PRODUCTIONS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

3.


Employees

The average monthly number of employees, including directors, during the year was 27 (2022 - 26).


4.


Tangible fixed assets





Fixtures and fittings
Computer equipment
Total

£
£
£



Cost or valuation


At 1 September 2022
57,530
141,218
198,748


Additions
2,459
28,003
30,462



At 31 August 2023

59,989
169,221
229,210



Depreciation


At 1 September 2022
50,397
97,486
147,883


Charge for the year on owned assets
4,986
25,464
30,450



At 31 August 2023

55,383
122,950
178,333



Net book value



At 31 August 2023
4,606
46,271
50,877



At 31 August 2022
7,133
43,732
50,865


5.


Debtors

2023
2022
£
£


Trade debtors
932,890
975,939

Amounts owed by group undertakings
22,605
62,118

Other debtors
40,047
95,762

Prepayments and accrued income
278,621
240,311

1,274,163
1,374,130


Page 5

 
SHM PRODUCTIONS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
167,911
114,770

Amounts owed to group undertakings
306,691
26,348

Corporation tax
97,562
76,785

Other taxation and social security
216,407
95,161

Other creditors
50,879
6,745

Accruals and deferred income
1,995,867
2,574,142

2,835,317
2,893,951



7.


Deferred taxation




2023


£






At beginning of year
(3,860)


Utilised in year
564



At end of year
(3,296)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(3,860)
(3,861)

Short term timing differences
564
1

(3,296)
(3,860)


8.


Provisions




Lease dilapidation provision

£





At 1 September 2022
64,506



At 31 August 2023
64,506

The dilapidation may be utilised on cessation of the lease however the company may choose to extend the lease period which would in turn defer the utilisation of the provision.

Page 6

 
SHM PRODUCTIONS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

9.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



10,000 (2022 - 10,000) Ordinary shares shares of £0.01 each
100
100
869 (2022 - 869) Ordinary A shares shares of £0.01 each
9
9

109

109



10.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £60,955 (2022: £56,424). Contributions totalling £7,299 (2022: £7) were payable to the fund at the balance sheet date and are included in other creditors.


11.

Related party transactions

Transactions with related parties
During the year the company entered into the following transactions with related parties:

Sales
2023
Purchases
2023
Sales
2022
Purchases
2022
        £
        £
        £
        £
Entities with control, joint control or significant influence over the company

25,455

290,661

301,608
 
633,537
 

2023
2022
        £
        £
Charitable donations paid:

Charities with Trustees related to the entity

544,274

345,413
 



The following amounts were outstanding at the reporting end date:


2023
2022
£
£

Amounts due to related parties:


Entities with control, joint control or significant influence over the company
230,037
26,198

Entities with common shareholders and/or directors
76,654
-

Key management personnel
553
1,605

307,244
27,803
Page 7

 
SHM PRODUCTIONS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

The following amounts were outstanding at the reporting end date:


2023
2022
£
£

Amounts due from related parties:


Entities with common shareholders and/or directors
22,605
84,803

Key management personnel
-
226

22,605
85,029

The company has given a commitment to the SHM Foundation that it will contribute a minimum donation of £100,000 per annum.


12.


Controlling party

The ultimate parent undertaking is Birmore Limited, a company registered in England and Wales. The registered office of Birmore Limited is 1st Floor, 20-22 Bedford row, London, WC1R 4EB. On the grounds that its group is small, Birmore Limited does not prepare consolidated financial statements.


13.


Auditor's information

The auditor's report on the financial statements for the year ended 31 August 2023 was unqualified.

The audit report was signed on 19 February 2024 by Fiona Hawkins BSc (Hons) MSc FCA (Senior statutory auditor) on behalf of James Cowper Kreston Audit.


Page 8