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Registered number: 14925928









THE LIGHTHOUSE (E3) LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2023

 
THE LIGHTHOUSE (E3) LIMITED
 
 
COMPANY INFORMATION


Directors
N D Betts 
A R Neville 




Registered number
14925928



Registered office
3rd Floor Waverley House
7-12 Noel Street

London

W1F 8GQ




Accountants
Ecovis Wingrave Yeats UK Limited
Chartered Accountants

3rd Floor, Waverley House

7-12 Noel Street

London

W1F 8GQ





 
THE LIGHTHOUSE (E3) LIMITED
 

CONTENTS



Page
Balance Sheet
 
1
Notes to the Financial Statements
 
2 - 5


 
THE LIGHTHOUSE (E3) LIMITED
REGISTERED NUMBER: 14925928

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
Note
£

  

Current assets
  

Work in progress
 4 
120

Debtors: amounts falling due within one year
 5 
100

  
220

Creditors: amounts falling due within one year
 6 
(120)

Net current assets
  
 
 
100

Total assets less current liabilities
  
100

  

Net assets
  
100


Capital and reserves
  

Called up share capital 
 7 
100

  
100


The directors consider 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 period in question in accordance with section 476 of the Companies Act 2006.

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 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 30 July 2024.




N D Betts
Director

The notes on pages 2 to 5 form part of these financial statements.

Page 1

 
THE LIGHTHOUSE (E3) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

1.


General information

The Lighthouse (E3) Limited is a private company, limited by shares, incorporated on 9 June 2023 in England & Wales, registration number 14925928. The Company's registered office is 3rd Floor, Waverley House, 7-12 Noel Street, London, W1F 8GQ.

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 nature of the Company’s principal activity means that there is significant expenditure during active television production phases and substantially lower costs outside of these periods. The Company’s robust financial planning and funding arrangements ensure operational continuity and financial stability throughout. Therefore, the fluctuating costs associated with our production cycles do not pose a threat to our status as a going concern. Furthermore, the Company’s immediate parent company has indicated its willingness to provide financial support in the 12 months from the date of signing the financial statements if required. As a result, the director believes that it remains appropriate to continue to adopt the going concern basis in preparing these financial statements.

 
2.3

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.4

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.

Page 2

 
THE LIGHTHOUSE (E3) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.5

Financial instruments

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

  
2.6

Work in progress

Work in progress relates to direct production costs incurred on productions in progress at the balance sheet date. The costs will generally represent development and pre-production costs that are considered fully recoverable and that are recorded at the lower of cost and net realisable value, and are net of VAT. Work in progress is released to the profit and loss account in line with the percentage stage of completion of the production, which is assessed at the reporting date.


3.


Employees

The average monthly number of employees, including directors, during the period was 2.

Page 3

 
THE LIGHTHOUSE (E3) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

4.


Work in progress

2023
£

Development costs
120

120



5.


Debtors

2023
£


Amounts owed by group undertakings
100

100



6.


Creditors: Amounts falling due within one year

2023
£

Bank overdrafts
120

120



7.


Share capital

2023
£
Allotted, called up and fully paid


100 Ordinary Shares shares of £1.00 each
100


On incorporation, the Company issued 100 ordinary shares of £1.00 each. Each share is entitled to one vote under any circumstances, and is entitled to share equally in dividend payments or any other distribution, including any distrubution arising from a winding up of the company.


8.


Related party transactions

The Company has taken the exemption under FRS 102, section 33 Related Party Disclosures paragraph 33.1A, whereby the Company as a wholly owned subsidiary is not required to disclose transactions with its immediate parent.

Page 4

 
THE LIGHTHOUSE (E3) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

9.


Controlling party

The controlling party is The Lighthouse Film and Television Limited, a company registered in England & Wales, company number 12203888. The Lighthouse Film and Television Limited owns the entire share capital of The Lighthouse (E3) Limited.

Page 5