MGMM STUDIOS LTD

Company Registration Number:
10029723 (England and Wales)

Unaudited statutory accounts for the year ended 30 March 2023

Period of accounts

Start date: 1 April 2022

End date: 30 March 2023

MGMM STUDIOS LTD

Contents of the Financial Statements

for the Period Ended 30 March 2023

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes

MGMM STUDIOS LTD

Directors' report period ended 30 March 2023

The directors present their report with the financial statements of the company for the period ended 30 March 2023

Directors

The directors shown below have held office during the whole of the period from
1 April 2022 to 30 March 2023

Mr L J Millaney
Mr M J Pilsworth


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
4 April 2024

And signed on behalf of the board by:
Name: Mr L J Millaney
Status: Director

MGMM STUDIOS LTD

Profit And Loss Account

for the Period Ended 30 March 2023

2023 2022


£

£
Turnover: 30,742 100,557
Cost of sales: ( 17,089 ) ( 98,793 )
Gross profit(or loss): 13,653 1,764
Distribution costs: 0 0
Administrative expenses: ( 13,002 ) ( 304,243 )
Other operating income: 409 0
Operating profit(or loss): 1,060 (302,479)
Interest receivable and similar income: 0 179
Interest payable and similar charges: ( 14,307 ) ( 9,942 )
Profit(or loss) before tax: (13,247) (312,242)
Tax: 0 75,100
Profit(or loss) for the financial year: (13,247) (237,142)

MGMM STUDIOS LTD

Balance sheet

As at 30 March 2023

Notes 2023 2022


£

£
Called up share capital not paid: 0 0
Fixed assets
Intangible assets: 3 100,000 100,000
Tangible assets:   0 0
Investments:   0 0
Total fixed assets: 100,000 100,000
Current assets
Stocks:   0 0
Debtors: 4 110,019 57,096
Cash at bank and in hand: 0 0
Investments:   0 0
Total current assets: 110,019 57,096
Creditors: amounts falling due within one year: 5 ( 243,947 ) ( 151,217 )
Net current assets (liabilities): (133,928) (94,121)
Total assets less current liabilities: (33,928) 5,879
Creditors: amounts falling due after more than one year: 6 ( 47,087 ) ( 73,647 )
Total net assets (liabilities): (81,015) (67,768)
Capital and reserves
Called up share capital: 1 1
Other reserves: 100,000 100,000
Profit and loss account: (181,016 ) (167,769 )
Total Shareholders' funds: ( 81,015 ) (67,768)

The notes form part of these financial statements

MGMM STUDIOS LTD

Balance sheet statements

For the year ending 30 March 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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

This report was approved by the board of directors on 4 April 2024
and signed on behalf of the board by:

Name: Mr L J Millaney
Status: Director

The notes form part of these financial statements

MGMM STUDIOS LTD

Notes to the Financial Statements

for the Period Ended 30 March 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

    Intangible fixed assets amortisation policy

    Archive footage is revalued each year. It is not amortised as the asset would generally appreciate over time.

    Other accounting policies

    Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

MGMM STUDIOS LTD

Notes to the Financial Statements

for the Period Ended 30 March 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 1 1

MGMM STUDIOS LTD

Notes to the Financial Statements

for the Period Ended 30 March 2023

3. Intangible assets

Goodwill Other Total
Cost £ £ £
At 1 April 2022 0 100,000 100,000
Additions 0 0 0
Disposals 0 0 0
Revaluations 0 0 0
Transfers 0 0 0
At 30 March 2023 0 100,000 100,000
Amortisation
At 1 April 2022 0 0 0
Charge for year 0 0 0
On disposals 0 0 0
Other adjustments 0 0 0
At 30 March 2023 0 0 0
Net book value
At 30 March 2023 0 100,000 100,000
At 31 March 2022 0 100,000 100,000

MGMM STUDIOS LTD

Notes to the Financial Statements

for the Period Ended 30 March 2023

4. Debtors

2023 2022
£ £
Trade debtors 0 0
Prepayments and accrued income 0 0
Other debtors 110,019 57,096
Total 110,019 57,096

MGMM STUDIOS LTD

Notes to the Financial Statements

for the Period Ended 30 March 2023

5. Creditors: amounts falling due within one year note

2023 2022
£ £
Bank loans and overdrafts 44,684 14,160
Trade creditors 9,726 10,413
Other creditors 189,537 126,644
Total 243,947 151,217

MGMM STUDIOS LTD

Notes to the Financial Statements

for the Period Ended 30 March 2023

6. Creditors: amounts falling due after more than one year note

2023 2022
£ £
Bank loans and overdrafts 47,087 73,647
Total 47,087 73,647