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Registered number: 13909286
Ghost Fly Film Limited
Unaudited Financial Statements
For The Year Ended 30 September 2023
EAM London Limited
Chartered Tax Accountants
215-221 Borough High Street
London
SE1 1JA
Unaudited Financial Statements
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—3
Page 1
Balance Sheet
Registered number: 13909286
2023 2022
Notes £ £ £ £
CURRENT ASSETS
Debtors 4 219,565 186,264
Cash at bank and in hand 5,458 636
225,023 186,900
Creditors: Amounts Falling Due Within One Year 5 (752,688 ) (239,940 )
NET CURRENT ASSETS (LIABILITIES) (527,665 ) (53,040 )
TOTAL ASSETS LESS CURRENT LIABILITIES (527,665 ) (53,040 )
Creditors: Amounts Falling Due After More Than One Year 6 (539,906 ) (345,000 )
NET LIABILITIES (1,067,571 ) (398,040 )
CAPITAL AND RESERVES
Called up share capital 7 1 1
Profit and Loss Account (1,067,572 ) (398,041 )
SHAREHOLDERS' FUNDS (1,067,571) (398,040)
For the year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Michael Seal
Director
17/04/2024
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Ghost Fly Film Limited is a private company, limited by shares, incorporated in England & Wales, registered number 13909286 . The registered office is Black Hangar Studios Lasham Airfield, Alton, Hampshire, GU34 5SR.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
The company has been incorporated to make a film called "Ghost Flight”. In common with the film and television industry, the majority of the crew were hired on short term contracts for the duration of principal photography or were self-employed. Average number of directors active for the year:  1 (2022: )
1 -
4. Debtors
2023 2022
£ £
Due within one year
Other debtors 45,420 1
Corporation tax recoverable assets 163,085 98,942
VAT 11,060 87,321
219,565 186,264
Page 2
Page 3
5. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 532,983 179,228
Other creditors 114,526 58,587
Accruals and deferred income 105,054 2,000
Amounts owed to group undertakings 125 125
752,688 239,940
6. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Other creditors 539,906 345,000
539,906 345,000
7. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1 1
Page 3