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Registered number: 06018240










Insider Productions Limited








Unaudited

Financial statements

Information for filing with the registrar

For the year ended 31 December 2023

 
Insider Productions Limited
Registered number: 06018240

Balance sheet
As at 31 December 2023

2023
2022
Note
£
£

  

Current assets
  

Bank and cash balances
  
518,376
506,544

  
518,376
506,544

Creditors: amounts falling due within one year
 4 
(6,840)
(9,419)

Net current assets
  
 
 
511,536
 
 
497,125

Total assets less current liabilities
  
511,536
497,125

  

Net assets
  
511,536
497,125


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
511,436
497,025

  
511,536
497,125


The director considers 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 year in question in accordance with section 476 of the Companies Act 2006.

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 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 comprehensive income 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 16 July 2024.




P S Pughe-Morgan
Director

The notes on pages 2 to 3 form part of these financial statements.

Page 1

 
Insider Productions Limited
 

 
Notes to the financial statements
For the year ended 31 December 2023

1.


General information

Insider Productions Limited is a private company, limited by shares, registered in England and Wales. The company's registered office and principal place of business address is 2nd Flloor, 168 Shoreditch High Street, London E1 6RA. The principal activity of the company in the year under review was that of television rights and production.

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

Going concern

The financial statements have been prepared on a going concern basis. 

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Page 2

 
Insider Productions Limited
 

 
Notes to the financial statements
For the year ended 31 December 2023

2.Accounting policies (continued)

 
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. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
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, loans to related parties and investments in ordinary shares.


3.


Employees




The average monthly number of employees, including directors, during the year was 1 (2022 - 1).


4.


Creditors: Amounts falling due within one year

2023
2022
£
£

Corporation tax
3,380
5,449

Other taxation and social security
-
120

Other creditors
50
50

Accruals and deferred income
3,410
3,800

6,840
9,419



5.


Related party transactions

At the year end the company was owed £50 (2022: £50) by Mr P S Pughe-Morgan a director of the company


6.


Controlling party

The company is controlled by the sole director, Mr P S Pughe-Morgan by virtue of owning 100% of the issued share capital.

Page 3