BLACK CUMIN PICTURES LTD |
Notes to the Accounts |
for the period from 25 July 2022 to 31 July 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. The company started production of the British qualifying high end television programme tentatively titled as "Kanneda" (the HETV). The production cost of the HETV 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 HETV. |
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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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Number |
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Average number of persons employed by the company |
16 |
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3 |
Debtors |
2023 |
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£ |
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VAT receivable |
139,060 |
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Other debtors |
418 |
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139,478 |
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4 |
Creditors: amounts falling due within one year |
2023 |
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£ |
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Trade creditors |
957,178 |
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Advance for expenses |
1,140,000 |
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Taxation and social security costs |
3,348 |
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Other creditors |
1,330,901 |
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3,431,427 |
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5 |
Related party transactions |
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During the period, Goddards Accountants Walton Ltd invoiced the Company for £1,020 towards payroll & other professional fee. Mr. Derek Williamson, the director of the Company is also a director of Goddards Accountants Walton Ltd. At the balance sheet date of 31/07/2023, the Company received unsecured short term loan of £890,200 from The Filmcard Motion Pictures Ltd which is included under other creditors. Mr. Derek Williamson, the director of the Company was also director of The Filmcard Motion Pictures Ltd. The director of companies confirm that all transactions between these companies has been on arms-length basis. |
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6 |
Controlling party |
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Mr. Derek Williamson, director and PSC of the Company is the ultimate controlling party. |
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7 |
Other information |
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BLACK CUMIN PICTURES LTD is a private company limited by shares and incorporated in England. Its registered office is: |
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8 High Street |
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West Molesey |
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Surrey |
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KT8 2NA |