Biscuit Filmworks UK Limited
Unaudited Financial Statements
For the year ended 31 December 2023
Pages for Filing with Registrar
Company Registration No. 07591274 (England and Wales)
Biscuit Filmworks UK Limited
Contents
Page
Balance sheet
1
Notes to the financial statements
3 - 6
Biscuit Filmworks UK Limited
Balance Sheet
As at 31 December 2023
Page 1
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
11,662
33,501
Current assets
Debtors
4
1,889,433
1,470,511
Cash at bank and in hand
2,621,714
2,627,973
4,511,147
4,098,484
Creditors: amounts falling due within one year
5
(2,612,680)
(2,214,277)
Net current assets
1,898,467
1,884,207
Total assets less current liabilities
1,910,129
1,917,708
Capital and reserves
Called up share capital
6
1
1
Profit and loss reserves
1,910,128
1,917,707
Total equity
1,910,129
1,917,708

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 30 July 2024 and are signed on its behalf by:
N Murro
Director
Company Registration No. 07591274
Biscuit Filmworks UK Limited
Statement of Changes in Equity
For the year ended 31 December 2023
Page 2
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 January 2022
1
1,522,733
1,522,734
Year ended 31 December 2022:
Profit and total comprehensive income for the year
-
644,064
644,064
Other movements
-
(249,090)
(249,090)
Balance at 31 December 2022
1
1,917,707
1,917,708
Year ended 31 December 2023:
Profit and total comprehensive income for the year
-
367,421
367,421
Dividends
-
(375,000)
(375,000)
Balance at 31 December 2023
1
1,910,128
1,910,129
Biscuit Filmworks UK Limited
Notes to the Financial Statements
For the year ended 31 December 2023
Page 3
1
Accounting policies
Company information

Biscuit Filmworks UK Limited is a private company limited by shares incorporated in England and Wales. The registered office is Charlotte Building, 17 Gresse Street, London, United Kingdom, W1T 1QL.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents amounts receivable for services net of VAT and trade discounts.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold land and buildings
Over the remaining life of the lease
Fixtures, fittings & equipment
25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Financial instruments

The company only has basic financial instruments measured at amortised cost, with no financial

instruments classified as other, or basic financial instruments measured at fair value.

 

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

Biscuit Filmworks UK Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2023
1
Accounting policies
(Continued)
Page 4
1.7
Taxation
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.9
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.10
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.11
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
16
14
Biscuit Filmworks UK Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2023
Page 5
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 January 2023
191,713
101,603
293,316
Additions
-
0
5,352
5,352
At 31 December 2023
191,713
106,955
298,668
Depreciation and impairment
At 1 January 2023
165,552
94,263
259,815
Depreciation charged in the year
20,231
6,960
27,191
At 31 December 2023
185,783
101,223
287,006
Carrying amount
At 31 December 2023
5,930
5,732
11,662
At 31 December 2022
26,161
7,340
33,501
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
334,944
716,154
Other debtors
255,126
263,467
Prepayments and accrued income
1,299,363
490,890
1,889,433
1,470,511
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
969,526
337,938
Corporation tax
121,292
160,523
Other taxation and social security
87,443
183,510
Other creditors
102,040
2,422
Accruals and deferred income
1,332,379
1,529,884
2,612,680
2,214,277
Biscuit Filmworks UK Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2023
Page 6
6
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of 1p each
80
80
1
1

 

7
Operating lease commitments

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2023
2022
£
£
Within one year
51,184
74,157
Between two and five years
17,736
35,965
68,920
110,122
8
Related party transactions

During the year there were sales of £1,692,291 (2022: £1,602,766) and purchases of £554,114 (2022: £536,090) to Biscuit Filmworks USA, a related party by virtue of common directorship.

 

At the year end there was an accrued balance of £52,295 (2022: £78,316) owed to Biscuit Filmworks USA.

9
Control

There is no ultimate controlling party.

 

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