Silverfin false false 29/11/2023 30/11/2022 29/11/2023 A Ball 09/11/2005 06 March 2024 The principal activity of the company is that of film production. 05617263 2023-11-29 05617263 bus:Director1 2023-11-29 05617263 2022-11-29 05617263 core:CurrentFinancialInstruments 2023-11-29 05617263 core:CurrentFinancialInstruments 2022-11-29 05617263 core:ShareCapital 2023-11-29 05617263 core:ShareCapital 2022-11-29 05617263 core:RetainedEarningsAccumulatedLosses 2023-11-29 05617263 core:RetainedEarningsAccumulatedLosses 2022-11-29 05617263 core:OtherPropertyPlantEquipment 2022-11-29 05617263 core:OtherPropertyPlantEquipment 2023-11-29 05617263 core:CostValuation 2022-11-29 05617263 core:CostValuation 2023-11-29 05617263 2022-11-30 2023-11-29 05617263 bus:FilletedAccounts 2022-11-30 2023-11-29 05617263 bus:SmallEntities 2022-11-30 2023-11-29 05617263 bus:AuditExemptWithAccountantsReport 2022-11-30 2023-11-29 05617263 bus:PrivateLimitedCompanyLtd 2022-11-30 2023-11-29 05617263 bus:Director1 2022-11-30 2023-11-29 05617263 core:OtherPropertyPlantEquipment core:TopRangeValue 2022-11-30 2023-11-29 05617263 2021-11-30 2022-11-29 iso4217:GBP xbrli:pure

Company No: 05617263 (England and Wales)

TILLY FILMS LIMITED

Unaudited Financial Statements
For the financial year ended 29 November 2023
Pages for filing with the registrar

TILLY FILMS LIMITED

Unaudited Financial Statements

For the financial year ended 29 November 2023

Contents

TILLY FILMS LIMITED

STATEMENT OF FINANCIAL POSITION

As at 29 November 2023
TILLY FILMS LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 29 November 2023
Note 2023 2022
£ £
Fixed assets
Investments 4 35,001 35,001
35,001 35,001
Current assets
Debtors 5 594,000 594,000
Cash at bank and in hand 6 293,795 233,879
887,795 827,879
Creditors: amounts falling due within one year 7 ( 1,699,218) ( 1,637,364)
Net current liabilities (811,423) (809,485)
Total assets less current liabilities (776,422) (774,484)
Net liabilities ( 776,422) ( 774,484)
Capital and reserves
Called-up share capital 50,000 50,000
Profit and loss account ( 826,422 ) ( 824,484 )
Total shareholder's deficit ( 776,422) ( 774,484)

For the financial year ending 29 November 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 financial statements of Tilly Films Limited (registered number: 05617263) were approved and authorised for issue by the Director. They were signed on its behalf by:

A Ball
Director

06 March 2024

TILLY FILMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 29 November 2023
TILLY FILMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 29 November 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Tilly Films Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 35 Ballards Lane, London, N3 1XW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Fixed asset investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

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 creditors: amounts falling due within one year.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to and from related parties and investments in non-puttable ordinary shares.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, 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.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. 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 the Statement of Income and Retained Earnings/Statement of Comprehensive Income.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, 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 receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and 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.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 0 0

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 30 November 2022 11,317 11,317
At 29 November 2023 11,317 11,317
Accumulated depreciation
At 30 November 2022 11,317 11,317
At 29 November 2023 11,317 11,317
Net book value
At 29 November 2023 0 0
At 29 November 2022 0 0

4. Fixed asset investments

Other investments Total
£ £
Cost or valuation before impairment
At 30 November 2022 35,001 35,001
At 29 November 2023 35,001 35,001
Carrying value at 29 November 2023 35,001 35,001
Carrying value at 29 November 2022 35,001 35,001

5. Debtors

2023 2022
£ £
Amounts owed by own subsidiaries 594,000 594,000

6. Cash and cash equivalents

2023 2022
£ £
Cash at bank and in hand 293,795 233,879

7. Creditors: amounts falling due within one year

2023 2022
£ £
Other creditors 1,699,218 1,637,364

8. Related party transactions

Included in amounts owed by group undertakings is £594,000 (2022: £594,000) owed by Hysteria Pictures Ltd. Hysteria Pictures Ltd being a subsidiary of Tilly Films Ltd.