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COMPANY REGISTRATION NUMBER: 07194924
Iron Lady (DJ Films) Ltd
Filleted Unaudited Accounts
8 December 2023
Iron Lady (DJ Films) Ltd
Statement of Financial Position
8 December 2023
2023
2022
Note
£
£
£
Current assets
Debtors
5
25,219
14,791
Creditors: amounts falling due within one year
6
( 25,218)
( 14,790)
--------
--------
Net current assets
1
1
----
----
Total assets less current liabilities
1
1
----
----
Capital and reserves
Called up share capital
1
1
----
----
Shareholder funds
1
1
----
----
These accounts 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 8 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 member has not required the company to obtain an audit of its accounts 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 accounts .
These accounts were approved by the board of directors and authorised for issue on 29 August 2024 , and are signed on behalf of the board by:
D C Jones
Director
Company registration number: 07194924
Iron Lady (DJ Films) Ltd
Notes to the Accounts
Year ended 8 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 c/o Shipleys LLP, 10 Orange Street, WC2H 7DQ, London.
2. Statement of compliance
These accounts 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 accounts have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The accounts are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover relates to the production of the film entitled "The Iron Lady". It represents amounts receivable from the sale of the film and is stated after trade discounts, other taxes and net of VAT.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
4. Tax on loss
Major components of tax income
2023
2022
£
£
Current tax:
UK current tax income
( 10,428)
( 14,790)
--------
--------
Tax on loss
( 10,428)
( 14,790)
--------
--------
Reconciliation of tax income
The tax assessed on the loss on ordinary activities for the year is lower than (2022: lower than) the standard rate of corporation tax in the UK of 19 % (2022: -%).
2023
2022
£
£
Loss on ordinary activities before taxation
( 10,428)
( 14,790)
--------
--------
Film tax relief
(10,428)
--------
--------
5. Debtors
2023
2022
£
£
Other debtors
25,219
14,791
--------
--------
6. Creditors: amounts falling due within one year
2023
2022
£
£
Other creditors
25,218
14,790
--------
--------
7. Contingencies
Charges have been made against the film in favour of the following parties to secure their interests in the copyright of and title to the film: Film4, a division of Channel 4 Television Corporation Fireman's Fund Insurance Company Goldcrest Film Production LLP Goldcrest Capital Holdings Ltd Pathé Productions Ltd UK Film Council
8. Related party transactions
The company was under the control of D C Jones throughout the current and prior period. D C Jones is the sole director and shareholder. All transactions related to the development and production of the film "The Iron Lady" and arose on an arm's length basis through the normal course of business. No further transactions with related parties were undertaken such as are required to be disclosed under the FRS 102 Section 1a.