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Registration number: 14508689

Renegade Stories Ltd

Unaudited Financial Statements

for the Period from 28 November 2022 to 31 March 2024

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

Renegade Stories Ltd

Contents

Company Information

1

Statement of Financial Position

2

Notes to the Unaudited Financial Statements

3 to 5

 

Renegade Stories Ltd

Company Information

Directors

A Y Cooke

A Hayling

Registered office

10 Burlington Road
London
N10 1NJ

Accountants

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

Renegade Stories Ltd

Statement of Financial Position as at 31 March 2024

Note

2024
£

Fixed assets

 

Tangible assets

4

6,415

Current assets

 

Work in progress

19,753

Debtors

5

37,094

Cash at bank and in hand

 

78,944

 

135,791

Creditors: Amounts falling due within one year

6

(167,448)

Net current liabilities

 

(31,657)

Net liabilities

 

(25,242)

Capital and reserves

 

Called up share capital

100

Retained earnings

(25,342)

Shareholders' deficit

 

(25,242)

For the financial period ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Statement of Income and Retained Earnings has been taken.

Approved and authorised by the Board on 23 August 2024 and signed on its behalf by:
 

.........................................

A Y Cooke

Director

Company registration number: 14508689

 

Renegade Stories Ltd

Notes to the Unaudited Financial Statements
for the Period from 28 November 2022 to 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
10 Burlington Road
London
N10 1NJ

The principal activity of the company is that of the provision of production services for film and television

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Summary of significant accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Disclosure of long or short period

The financial statements relate to the period from 28 November 2022 to 31 March 2024.

Going concern

The company had net liabilities of £25,242 at 31 March 2024.

At that date an amount of £114,688 was due to the directors who have agreed to support the company and not call for repayment until the company has sufficient working capital.

On the basis of the above, the directors have a reasonable expectation that the company has adequate resources to remain in operational existence for the foreseeable future. Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company's activities and is shown net of sales/value added tax, returns, rebates and discounts.

Revenue is recognised in accordance with the contractual stage of completion. Where projects are funded, income in respect of project funding is recognised against the costs to which it relates or otherwise deferred on the statement of financial position until the performance obligations have been fulfilled.

 

Renegade Stories Ltd

Notes to the Unaudited Financial Statements
for the Period from 28 November 2022 to 31 March 2024

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures, fittings and equipment

20% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Work in Progress

Work in progress is stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of work in progress comprises development expenditure and directly associated overheads. At each reporting date, work in progress is assessed for impairment. If work in progress is impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Renegade Stories Ltd

Notes to the Unaudited Financial Statements
for the Period from 28 November 2022 to 31 March 2024

3

Staff numbers

The average number of persons employed by the company during the period, was 1.

4

Tangible assets

Fixtures, fittings and equipment
£

Total
£

Cost or valuation

Additions

8,748

8,748

At 31 March 2024

8,748

8,748

Depreciation

Charge for the period

2,333

2,333

At 31 March 2024

2,333

2,333

Carrying amount

At 31 March 2024

6,415

6,415

5

Debtors

2024
£

Trade debtors

33,305

Other debtors

3,789

37,094

6

Creditors

Creditors: amounts falling due within one year

2024
£

Trade creditors

10,613

Taxation and social security

1,340

Accruals and deferred income

5,850

Other creditors

149,645

167,448