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No description of principal activity
2022-05-01
Sage Accounts Production Advanced 2021 - FRS102_2021
xbrli:pure
xbrli:shares
iso4217:GBP
02717944
2022-05-01
2023-04-30
02717944
2023-04-30
02717944
2022-04-30
02717944
2021-05-01
2022-04-30
02717944
2022-04-30
02717944
core:LandBuildings
core:ShortLeaseholdAssets
2022-05-01
2023-04-30
02717944
core:FurnitureFittings
2022-05-01
2023-04-30
02717944
bus:OrdinaryShareClass2
2022-05-01
2023-04-30
02717944
bus:OrdinaryShareClass3
2022-05-01
2023-04-30
02717944
bus:OrdinaryShareClass4
2022-05-01
2023-04-30
02717944
bus:OrdinaryShareClass5
2022-05-01
2023-04-30
02717944
bus:Director1
2022-05-01
2023-04-30
02717944
core:LandBuildings
2022-04-30
02717944
core:FurnitureFittings
2022-04-30
02717944
core:LandBuildings
2023-04-30
02717944
core:FurnitureFittings
2023-04-30
02717944
core:LandBuildings
2022-05-01
2023-04-30
02717944
core:WithinOneYear
2023-04-30
02717944
core:WithinOneYear
2022-04-30
02717944
core:ShareCapital
2023-04-30
02717944
core:ShareCapital
2022-04-30
02717944
core:SharePremium
2023-04-30
02717944
core:SharePremium
2022-04-30
02717944
core:CapitalRedemptionReserve
2023-04-30
02717944
core:CapitalRedemptionReserve
2022-04-30
02717944
core:RetainedEarningsAccumulatedLosses
2023-04-30
02717944
core:RetainedEarningsAccumulatedLosses
2022-04-30
02717944
core:BetweenOneFiveYears
2023-04-30
02717944
core:BetweenOneFiveYears
2022-04-30
02717944
core:LandBuildings
2022-04-30
02717944
core:FurnitureFittings
2022-04-30
02717944
bus:SmallEntities
2022-05-01
2023-04-30
02717944
bus:AuditExempt-NoAccountantsReport
2022-05-01
2023-04-30
02717944
bus:FullAccounts
2022-05-01
2023-04-30
02717944
bus:SmallCompaniesRegimeForAccounts
2022-05-01
2023-04-30
02717944
bus:PrivateLimitedCompanyLtd
2022-05-01
2023-04-30
02717944
bus:AllOrdinaryShares
2023-04-30
02717944
bus:AllOrdinaryShares
2022-04-30
02717944
bus:OrdinaryShareClass2
2023-04-30
02717944
bus:OrdinaryShareClass2
2022-04-30
02717944
bus:OrdinaryShareClass3
2023-04-30
02717944
bus:OrdinaryShareClass3
2022-04-30
02717944
bus:OrdinaryShareClass4
2023-04-30
02717944
bus:OrdinaryShareClass4
2022-04-30
02717944
bus:OrdinaryShareClass5
2023-04-30
02717944
bus:OrdinaryShareClass5
2022-04-30
02717944
core:SharePremium
2022-05-01
2023-04-30
02717944
core:CapitalRedemptionReserve
2022-05-01
2023-04-30
02717944
core:RetainedEarningsAccumulatedLosses
2022-05-01
2023-04-30
COMPANY REGISTRATION NUMBER:
02717944
Oxford Film and Television Limited |
|
Filleted Unaudited Accounts |
|
Oxford Film and Television Limited |
|
Statement of Financial Position |
|
30 April 2023
Fixed assets
Tangible assets |
5 |
|
31,739 |
43,122 |
|
|
|
|
|
Current assets
Stocks |
6 |
3,062,755 |
|
2,111,062 |
Debtors |
7 |
426,499 |
|
422,049 |
Cash at bank and in hand |
387,000 |
|
376,125 |
|
------------ |
|
------------ |
|
3,876,254 |
|
2,909,236 |
|
|
|
|
|
Creditors: amounts falling due within one year |
8 |
(
3,851,067) |
|
(
2,449,230) |
|
------------ |
|
------------ |
Net current assets |
|
25,187 |
460,006 |
|
|
-------- |
--------- |
Total assets less current liabilities |
|
56,926 |
503,128 |
|
|
-------- |
--------- |
Net assets |
|
56,926 |
503,128 |
|
|
-------- |
--------- |
|
|
|
|
|
Capital and reserves
Called up share capital |
9 |
|
1,440 |
1,440 |
Share premium account |
10 |
|
576 |
576 |
Capital redemption reserve |
10 |
|
144 |
144 |
Profit and loss account |
10 |
|
54,766 |
500,968 |
|
|
-------- |
--------- |
Shareholders funds |
|
56,926 |
503,128 |
|
|
-------- |
--------- |
|
|
|
|
|
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts
.
Oxford Film and Television Limited |
|
Statement of Financial Position (continued) |
|
30 April 2023
These accounts were approved by the
board of directors
and authorised for issue on
11 March 2024
, and are signed on behalf of the board by:
Company registration number:
02717944
Oxford Film and Television Limited |
|
Year ended 30 April 2023
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 10 Orange Street, Haymarket, London, WC2H 7DQ.
2.
Statement of compliance
These accounts have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The accounts have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The accounts are prepared in sterling, which is the functional currency of the entity.
Going concern
In the opinion of the directors the company is a going concern as it has sufficient financial resources to be able to meet its trading obligations as they fall due, being for a period of not less than twelve months from the date of approval of these accounts. As such, the accounts are prepared on a going concern basis.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably. When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period. When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Foreign currencies
Transactions denominated in foreign currencies are translated at the rates ruling at the time of the transaction. Balances denominated in foreign currencies are translated at the rates ruling at the balance sheet date. All differences are taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Leasehold Improvements |
- |
10% straight line |
|
Equipment, Fixtures & Fittings |
- |
25% reducing balance |
|
|
|
|
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
26
(2022:
26
).
5.
Tangible assets
|
Land and buildings |
Fixtures and fittings |
Total |
|
£ |
£ |
£ |
Cost |
|
|
|
At 1 May 2022 |
28,994 |
440,079 |
469,073 |
Additions |
– |
1,129 |
1,129 |
|
-------- |
--------- |
--------- |
At 30 April 2023 |
28,994 |
441,208 |
470,202 |
|
-------- |
--------- |
--------- |
Depreciation |
|
|
|
At 1 May 2022 |
23,193 |
402,758 |
425,951 |
Charge for the year |
2,899 |
9,613 |
12,512 |
|
-------- |
--------- |
--------- |
At 30 April 2023 |
26,092 |
412,371 |
438,463 |
|
-------- |
--------- |
--------- |
Carrying amount |
|
|
|
At 30 April 2023 |
2,902 |
28,837 |
31,739 |
|
-------- |
--------- |
--------- |
At 30 April 2022 |
5,801 |
37,321 |
43,122 |
|
-------- |
--------- |
--------- |
|
|
|
|
6.
Stocks
|
2023 |
2022 |
|
£ |
£ |
Work in progress |
3,062,755 |
2,111,062 |
|
------------ |
------------ |
|
|
|
7.
Debtors
|
2023 |
2022 |
|
£ |
£ |
Trade debtors |
314,626 |
233,472 |
Other debtors |
111,873 |
188,577 |
|
--------- |
--------- |
|
426,499 |
422,049 |
|
--------- |
--------- |
|
|
|
8.
Creditors:
amounts falling due within one year
|
2023 |
2022 |
|
£ |
£ |
Trade creditors |
130,923 |
141,322 |
Social security and other taxes |
46,621 |
87,371 |
Other creditors |
3,673,523 |
2,220,537 |
|
------------ |
------------ |
|
3,851,067 |
2,449,230 |
|
------------ |
------------ |
|
|
|
Included within other creditors are production advances of £2,996,595 (2022: £1,129,516).
9.
Called up share capital
Issued, called up and fully paid
|
2023 |
2022 |
|
No. |
£ |
No. |
£ |
Ordinary A shares of £ 1 each |
864 |
864 |
864 |
864 |
Ordinary B shares of £ 1 each |
432 |
432 |
432 |
432 |
Ordinary C shares of £ 1 each |
101 |
101 |
101 |
101 |
Ordinary D shares of £ 1 each |
43 |
43 |
43 |
43 |
|
------- |
------- |
------- |
------- |
|
1,440 |
1,440 |
1,440 |
1,440 |
|
------- |
------- |
------- |
------- |
|
|
|
|
|
10.
Reserves
Share premium account - This reserve records the amount above the nominal value received for shares sold, less transaction costs.
Capital redemption reserve - This reserve records the nominal value of shares repurchased by the company.
Profit and loss account - This reserve records retained earnings and accumulated losses.
11.
Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
|
2023 |
2022 |
|
£ |
£ |
Not later than 1 year |
129,600 |
129,600 |
Later than 1 year and not later than 5 years |
37,800 |
167,400 |
|
--------- |
--------- |
|
167,400 |
297,000 |
|
--------- |
--------- |
|
|
|
12.
Directors' advances, credits and guarantees
During the year the company settled in full the balance owing to the directors from the prior period of £26,875.
13.
Related party transactions
The company was under the control of the directors throughout the current and previous year. There were no related party transactions or balances that required disclosure under Financial Reporting Standard 102, Section 1A.