Company registration number 05054208 (England and Wales)
SPROUT PICTURES (TV) LIMITED
Unaudited financial statements
For the year ended 31 March 2024
Pages for filing with registrar
SPROUT PICTURES (TV) LIMITED
COMPANY INFORMATION
Directors
G Carter
S Fry
Secretary
G Carter
Company number
05054208
Registered office
55 Loudoun Road
St John's Wood
London
NW8 0DL
Accountants
MGR Weston Kay LLP
55 Loudoun Road
St John's Wood
London
NW8 0DL
SPROUT PICTURES (TV) LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
SPROUT PICTURES (TV) LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
534
1,050
Current assets
Debtors
4
39,399
58,676
Cash at bank and in hand
43,245
13,494
82,644
72,170
Creditors: amounts falling due within one year
5
(6,325)
(33,529)
Net current assets
76,319
38,641
Net assets
76,853
39,691
Capital and reserves
Called up share capital
6
1,172
1,172
Share premium account
775,141
775,141
Profit and loss reserves
(699,460)
(736,622)
Total equity
76,853
39,691

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 March 2024 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 5 June 2024 and are signed on its behalf by:
G Carter
Director
Company registration number 05054208 (England and Wales)
SPROUT PICTURES (TV) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
1
Accounting policies
Company information

Sprout Pictures (TV) Limited is a private company limited by shares incorporated in England and Wales. The registered office is 55 Loudoun Road, St John's Wood, London, NW8 0DL.

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 disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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 production fees, license income and royalties receivable net of value added tax.

 

Income for television production is recognised when the company is considered to have fulfilled its contracted delivery obligations.

 

In the event that any programme under production spans a year end, income is partially recognised to the extent that the company has fulfilled its obligations under the contract.

 

This recognition is based on the fair value of the services provided as at the year end as a proportion of the total fair value of the contract.

 

Deferred income is shown as a liability on the balance sheet until the revenue can be recognised as income.

 

Income accrued as due at the year end in respect of partially completed contracts are included within debtors.

 

Royalties and license income are recognised as income when receivable in respect of periods ending within the accounting year.

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:

Plant and machinery
33% reducing balance

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 and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

SPROUT PICTURES (TV) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 3 -
1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

1.6
Taxation

The tax expense represents the sum of the tax currently payable.

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.

1.7
Retirement benefits

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

2
Employees

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

2024
2023
Number
Number
Total
2
2
SPROUT PICTURES (TV) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023
5,556
Disposals
(3,309)
At 31 March 2024
2,247
Depreciation and impairment
At 1 April 2023
4,505
Depreciation charged in the year
267
Eliminated in respect of disposals
(3,059)
At 31 March 2024
1,713
Carrying amount
At 31 March 2024
534
At 31 March 2023
1,050
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
39,155
48,509
Other debtors
244
10,167
39,399
58,676
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
-
0
32,700
Taxation and social security
3,008
-
0
Other creditors
3,317
829
6,325
33,529
SPROUT PICTURES (TV) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
6
Called up share capital
2024
2023
£
£
Ordinary share capital
Issued and fully paid
117,188 Ordinary shares of 1p each
1,172
1,172
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