Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312023-03-01falseNo description of principal activity32falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 11227070 2023-03-01 2024-03-31 11227070 2022-03-01 2023-02-28 11227070 2024-03-31 11227070 2023-02-28 11227070 c:Director1 2023-03-01 2024-03-31 11227070 c:Director2 2023-03-01 2024-03-31 11227070 c:Director3 2023-03-01 2024-03-31 11227070 c:Director3 2024-03-31 11227070 c:RegisteredOffice 2023-03-01 2024-03-31 11227070 d:CurrentFinancialInstruments 2024-03-31 11227070 d:CurrentFinancialInstruments 2023-02-28 11227070 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 11227070 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 11227070 d:UKTax 2023-03-01 2024-03-31 11227070 d:UKTax 2022-03-01 2023-02-28 11227070 d:ShareCapital 2024-03-31 11227070 d:ShareCapital 2023-02-28 11227070 d:RetainedEarningsAccumulatedLosses 2024-03-31 11227070 d:RetainedEarningsAccumulatedLosses 2023-02-28 11227070 c:OrdinaryShareClass1 2023-03-01 2024-03-31 11227070 c:OrdinaryShareClass1 2024-03-31 11227070 c:OrdinaryShareClass1 2023-02-28 11227070 c:FRS102 2023-03-01 2024-03-31 11227070 c:AuditExempt-NoAccountantsReport 2023-03-01 2024-03-31 11227070 c:FullAccounts 2023-03-01 2024-03-31 11227070 c:PrivateLimitedCompanyLtd 2023-03-01 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 11227070









FIRST PERSON FILMS LTD







UNAUDITED

FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2024

 
FIRST PERSON FILMS LTD
 
 
COMPANY INFORMATION


Directors
J A Howkins 
D A Manners 
V J Mapplebeck (appointed 16 November 2023)




Registered number
11227070



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





 
FIRST PERSON FILMS LTD
 

CONTENTS



Page
Balance Sheet
 
1 - 2
Notes to the Financial Statements
 
3 - 5


 
FIRST PERSON FILMS LTD
REGISTERED NUMBER: 11227070

BALANCE SHEET
AS AT 31 MARCH 2024

31 March
28 February
2024
2023
Note
£
£

  

Current assets
  

Work in progress
 6 
204,239
33,993

Debtors: amounts falling due within one year
 7 
46,405
285

Cash at bank and in hand
  
44
297

  
250,688
34,575

Creditors: amounts falling due within one year
 8 
(219,096)
(41,492)

Net current assets/(liabilities)
  
 
 
31,592
 
 
(6,917)

Total assets less current liabilities
  
31,592
(6,917)

  

Net assets/(liabilities)
  
31,592
(6,917)


Capital and reserves
  

Called up share capital 
 9 
3
3

Profit and loss account
  
31,589
(6,920)

  
31,592
(6,917)


Page 1

 
FIRST PERSON FILMS LTD
REGISTERED NUMBER: 11227070
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

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 5 August 2024.




D A Manners
Director

The notes on pages 3 to 5 form part of these financial statements.

Page 2

 
FIRST PERSON FILMS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

1.


General information

First Person Films Ltd is a private company, limited by shares, incorporated in England & Wales, registration number 11227070. The registered office is 3rd Floor, Waverley House, 7-12 Noel Street, London, United Kingdom, W1F 8GQ. The accounting period was extended from 29 February 2024 to 31 March 2024, therefore these financial statements cover a 13 month period.

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 directors are committed to ensuring that the Company can meet its liabilities as and when they
fall due for a period of at least 12 months from the date of approval of these financial statements. As
a result, the directors consider it appropriate that these financial statements are prepared on the
going concern basis.

 
2.3

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.4

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.5

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of
financial assets and liabilities like trade and other debtors and creditors, loans from banks and other
third parties, loans to related parties and investments in ordinary shares.

  
2.6

Work in progress

Work in progress represents development expenditure incurred on the film production to date. 

Page 3

 
FIRST PERSON FILMS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

3.


Judgments in applying accounting policies and key sources of estimation uncertainty

Creative tax credit estimate

The key accounting estimate within these financial statements relates to the value of the film tax credit. The estimate is based on the assessment of the value of qualifying expenditure in accordance with HMRC legislation and guidance and those expenditures eligible for the tax relief. The figures included in these financial statements represent the interim tax credit estimate.


4.


Employees

The average monthly number of employees, including directors, during the period was3  (2023 - 2).


5.


Taxation


13 months ended
31 March
Year ended
28 February
2024
2023
£
£

Corporation tax


Tax credit
(38,509)
-


(38,509)
-


Total current tax
(38,509)
-

Factors affecting tax charge for the period/year

The Company has a film production that qualifies for creative industry tax reliefs. At the period end there is a tax recoverable amount of £38,509 included within Note 7 relating to the estimated value of the tax credit in respect of the claim for this accounting period.


6.


Work in progress

31 March
28 February
2024
2023
£
£

Film development costs
204,239
33,993

204,239
33,993


Page 4

 
FIRST PERSON FILMS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

7.


Debtors

31 March
28 February
2024
2023
£
£


Other debtors
7,893
282

Unpaid share capital
3
3

Corporation tax recoverable
38,509
-

46,405
285



8.


Creditors: Amounts falling due within one year

31 March
28 February
2024
2023
£
£

Trade creditors
30,633
-

Other creditors
3,617
-

Accruals and deferred income
184,846
41,492

219,096
41,492



9.


Share capital

31 March
28 February
2024
2023
£
£
Allotted, called up and fully paid



3 (2023 - 3) Ordinary Share Capital shares of £1.00 each
3
3


 
Page 5