SHIVA FILMS LIMITED |
Notes to the Accounts |
for the year ended 31 October 2023 |
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1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
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Work in progress |
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Work in progress is measured at the lower of cost and estimated selling price less costs to complete and sell. In the current year, the company started production of the British qualifying film titled as "Shaitaan (pka: Production No 1)" (the Film). The production cost of the Film at the balance sheet date is carried forward as work in progress on the basis that it is deemed recoverable from the future income/revenue of the Film. |
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Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
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2 |
Employees |
2023 |
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2022 |
Number |
Number |
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Average number of persons employed by the company |
19 |
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0 |
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3 |
Debtors |
2023 |
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2022 |
£ |
£ |
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VAT receivable |
143,017 |
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- |
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Other debtors |
9,777 |
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- |
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152,794 |
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- |
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4 |
Creditors: amounts falling due within one year |
2023 |
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2022 |
£ |
£ |
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Trade creditors |
3,123,806 |
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1,250 |
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Advance for expenses |
13,050,000 |
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- |
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Taxation and social security costs |
986,447 |
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- |
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Other creditors |
79,635 |
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39,985 |
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17,239,888 |
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41,235 |
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5 |
Controlling party |
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Mr. Amit Dalmia, the PSC of the Company and has right to appoint or remove directors is the ultimate controlling party. |
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6 |
Other information |
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SHIVA FILMS LIMITED is a private company limited by shares and incorporated in England. Its registered office is: |
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Suite F |
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1-3 Canfield Place |
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London |
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NW6 3BT |