Company registration number SC169982 (Scotland)
MAKAR PRODUCTIONS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 14 AUGUST 2023
PAGES FOR FILING WITH REGISTRAR
MAKAR PRODUCTIONS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
MAKAR PRODUCTIONS LIMITED
BALANCE SHEET
AS AT
14 AUGUST 2023
14 August 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
131
50
Current assets
Stocks
34,645
46,169
Debtors
5
244
269
Cash at bank and in hand
4,707
6,794
39,596
53,232
Creditors: amounts falling due within one year
6
(52,912)
(67,662)
Net current liabilities
(13,316)
(14,430)
Net liabilities
(13,185)
(14,380)
Capital and reserves
Called up share capital
7
180
180
Share premium account
82,539
82,539
Profit and loss reserves
(95,904)
(97,099)
Total equity
(13,185)
(14,380)

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 14 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved and signed by the director and authorised for issue on 26 March 2024
E Dick
Director
Company Registration No. SC169982
MAKAR PRODUCTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 14 AUGUST 2023
- 2 -
1
Accounting policies
Company information

Makar Productions Limited is a private company limited by shares incorporated in Scotland. The registered office is 30 Craigmount Avenue North, Edinburgh, EH12 8DD.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

1.2
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery
25% Straight Line

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.

1.3
Cash at bank and in hand

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 current liabilities.

1.4
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with 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.

1.5

Going concern

The going concern basis has been used for preparing the financial statements as the majority of

creditors are film industry loans. The nature of these loans is such that they only become repayable in

limited circumstances.

MAKAR PRODUCTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 14 AUGUST 2023
1
Accounting policies
(Continued)
- 3 -
1.6

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

 

Work in progress is valued on the basis of direct costs plus attributable overheads based on normal

level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit

is included in the valuation of work in progress.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
1
1
4
Tangible fixed assets
Plant and machinery
£
Cost
At 15 August 2022
6,697
Additions
175
At 14 August 2023
6,872
Depreciation and impairment
At 15 August 2022
6,647
Depreciation charged in the year
94
At 14 August 2023
6,741
Carrying amount
At 14 August 2023
131
At 14 August 2022
50
MAKAR PRODUCTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 14 AUGUST 2023
- 4 -
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
244
269
6
Creditors: amounts falling due within one year
2023
2022
£
£
Other borrowings
51,563
66,625
Other creditors
1,349
1,037
52,912
67,662

Other borrowings are repayable on the basis the associated projects funded are successful.

7
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
17,964 Ordinary shares of 1p each
17,964
17,964
180
180
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