Caseware UK (AP4) 2022.0.179 2022.0.179 2023-01-302023-01-300trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.4trueNo description of principal activityfalse2022-01-24 13868912 2022-01-23 13868912 2022-01-24 2023-01-30 13868912 2021-01-24 2022-01-23 13868912 2023-01-30 13868912 c:Director2 2022-01-24 2023-01-30 13868912 d:CurrentFinancialInstruments 2023-01-30 13868912 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-30 13868912 d:ShareCapital 2023-01-30 13868912 c:OrdinaryShareClass1 2022-01-24 2023-01-30 13868912 c:OrdinaryShareClass1 2023-01-30 13868912 c:FRS102 2022-01-24 2023-01-30 13868912 c:AuditExempt-NoAccountantsReport 2022-01-24 2023-01-30 13868912 c:FullAccounts 2022-01-24 2023-01-30 13868912 c:PrivateLimitedCompanyLtd 2022-01-24 2023-01-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 13868912









MAJESTY FILMS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 30 JANUARY 2023

 
MAJESTY FILMS LIMITED
REGISTERED NUMBER: 13868912

STATEMENT OF FINANCIAL POSITION
AS AT 30 JANUARY 2023

2023
Note
£

  

Current assets
  

Stocks
 4 
585,012

Debtors: amounts falling due within one year
 5 
983,432

Cash at bank and in hand
 6 
82,179

  
1,650,623

Creditors: amounts falling due within one year
 7 
(1,650,622)

Net current assets
  
 
 
1

Total assets less current liabilities
  
1

  

Net assets
  
1


Capital and reserves
  

Called up share capital 
 8 
1

  
1


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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 income and retained earnings 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 on 9 April 2024.




A G Mayson
Director

The notes on pages 2 to 4 form part of these financial statements.

Page 1

 
MAJESTY FILMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JANUARY 2023

1.


General information

Majesty Films Limited is a private company limited by shares and registered in England & Wales. The address of its registered office and principal place of business is Somerset House, Strand, London, England, WC2R 1LA.
The company was incorporated on 24 January 2022 and began trading on this date.

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 comprises production income. Production income is recognised in the Statement of Income and Retained Earnings in the period it is contractually due and expended on production and other costs.

 
2.3

Taxation

Tax is recognised in the Statement of Income and Retained Earnings. 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 income.
The Company is eligible to claim a tax credit on production costs; the tax credit comprises relief based on total net costs and an additional deduction for enhanceable expenditure. The Company claims a payment based on the amount of enhanced expenditure and carries losses arising from total net costs forward against future profits.

 
2.4

Stocks

Stocks comprise production costs, which are recorded as a current asset net of the relevant tax credit.   Production costs are amortised to the Statement of Income and Retained Earnings over the period in which rights to the relevant production are being exploited by the Company.

 
2.5

Debtors

Short term debtors are measured at the transaction price, less any impairment.

 
2.6

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.

 
2.7

Creditors

Short term creditors are measured at the transaction price, less any impairment.

Page 2

 
MAJESTY FILMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JANUARY 2023

2.Accounting policies (continued)

 
2.8

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 third parties and loans to related parties 


3.


Employees

The average monthly number of employees, including directors, during the period was 4.


4.


Stocks

2023
£

Production costs
585,012

585,012



5.


Debtors

2023
£


Amounts owed by group undertakings
132,000

Other debtors
708,083

Tax recoverable
143,349

983,432



6.


Cash and cash equivalents

2023
£

Cash at bank and in hand
82,179

82,179


Page 3

 
MAJESTY FILMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JANUARY 2023

7.


Creditors: Amounts falling due within one year

2023
£

Trade creditors
236,374

Other creditors
1,271,102

Accruals and deferred income
143,146

1,650,622



8.


Share capital

2023
£
Allotted, called up and fully paid


1 Ordinary  share of £1.00
1





9.


Related party transactions

The company has taken advantage of the exemption contained in FRS102 section 33 "Related Party Disclosures" from disclosing transactions with companies that are a wholly owned member of the group.


10.


Controlling party

Throughout the period, the immediate parent undertaking was Altitude Film Entertainment Ltd.
There was no ultimate controlling party throughout the period.

 
Page 4