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COMPANY REGISTRATION NUMBER: 11916047
Fragile Pixie Limited
Filleted Unaudited Financial Statements
31 December 2023
Fragile Pixie Limited
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
Current assets
Debtors
4
63,738
41,598
Cash at bank and in hand
11,023
17,399
--------
--------
74,761
58,997
Creditors: amounts falling due within one year
5
79,878
658,546
--------
---------
Net current liabilities
5,117
599,549
-------
---------
Total assets less current liabilities
( 5,117)
( 599,549)
Accruals and deferred income
2,782
5,234
-------
---------
Net liabilities
( 7,899)
( 604,783)
-------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 7,999)
( 604,883)
-------
---------
Shareholders deficit
( 7,899)
( 604,783)
-------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- 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 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 29 July 2024 , and are signed on behalf of the board by:
Mr B Thompson
Director
Company registration number: 11916047
Fragile Pixie Limited
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Ealing Studios, Ealing Green, London, W5 5EP.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis . The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The financial statements have been prepared on the going concern basis. The parent Company has agreed to provide continuing financial support to the Company for the foreseeable future, sufficient to enable it to meet its debts as they fall due.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of Value Added Tax.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4. Debtors
2023
2022
£
£
Trade debtors
63,238
28,575
Other debtors
500
13,023
--------
--------
63,738
41,598
--------
--------
The amount due by group undertakings are unsecured, interest free and repayable on demand.
5. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
76,878
58,546
Amounts owed to group undertakings and undertakings in which the company has a participating interest
3,000
Production loans
600,000
--------
---------
79,878
658,546
--------
---------
The amount due to group undertakings are unsecured, interest free and repayable on demand. Production advances are limited recourse advances to the company and are re-payable only from the income receivable from the exploitation of a motion film that the company has commissioned for production .
6. Charges
Northern Ireland Screen Commission, Paramount Pictures International Limited and Confit Productions Limited hold a charge on the company over all sums due or to become due which entitles it to the right, title, interest and benefits in and to the company's commissioned film.
7. Related party transactions
The company has taken advantage of the exemption conferred by FRS 102 from disclosing details of transactions with other wholly owned group companies.
8. Controlling party
The company is a wholly owned subsidiary of Fragile Films Limited , a company incorporated in England and Wales. B Thompson is considered to be the ultimate controlling party.