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REGISTERED NUMBER: 04859237 (England and Wales)















Financial Statements for the Year Ended 30 August 2023

for

Cipher Films Limited

Cipher Films Limited (Registered number: 04859237)






Contents of the Financial Statements
for the Year Ended 30 August 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Cipher Films Limited

Company Information
for the Year Ended 30 August 2023







DIRECTORS: G Isaac
P P Mascolo





SECRETARIES: R W L Berrow
G Isaac





REGISTERED OFFICE: Berkeley House
Amery Street
Alton
Hampshire
GU341HN





REGISTERED NUMBER: 04859237 (England and Wales)





AUDITORS: JWR Audit Limited
24 Picton House
Hussar Court
Waterlooville
Hampshire
PO7 7SQ

Cipher Films Limited (Registered number: 04859237)

Balance Sheet
30 August 2023

30.8.23 30.8.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 334 445
Investments 5 1 1
Film Production Costs 6 - -
335 446

CURRENT ASSETS
Debtors 7 67,780 68,780

CREDITORS
Amounts falling due within one year 8 407,103 413,822
NET CURRENT LIABILITIES (339,323 ) (345,042 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(338,988

)

(344,596

)

CAPITAL AND RESERVES
Called up share capital 9 13,333 13,333
Retained earnings (352,321 ) (357,929 )
SHAREHOLDERS' FUNDS (338,988 ) (344,596 )

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 August 2024 and were signed on its behalf by:





P P Mascolo - Director


Cipher Films Limited (Registered number: 04859237)

Notes to the Financial Statements
for the Year Ended 30 August 2023

1. STATUTORY INFORMATION

Cipher Films Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


Accounts are rounded to the nearest pound.

The accounts represent the company as an individual entity.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
In preparing the financial statements in accordance with FRS 102, management is required to make judgements, estimates, and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, income, and expenses. Actual results may differ from these estimates.

Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period or in the period of the revision and future periods if the revision affects both current and future periods.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on cost
Office Equipment - 25% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Cipher Films Limited (Registered number: 04859237)

Notes to the Financial Statements - continued
for the Year Ended 30 August 2023

2. ACCOUNTING POLICIES - continued

Research and development
Any development expenditure incurred on future or current productions, before a formal production arrangement is in place is expensed as incurred.

Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and parent company support will be given if needed. Hence the directors consider it is appropriate to adopt the going concern basis of accounting in preparing the financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. TANGIBLE FIXED ASSETS
Plant and Office
machinery Equipment Totals
£    £    £   
COST
At 31 August 2022
and 30 August 2023 2,129 1,500 3,629
DEPRECIATION
At 31 August 2022 2,129 1,055 3,184
Charge for year - 111 111
At 30 August 2023 2,129 1,166 3,295
NET BOOK VALUE
At 30 August 2023 - 334 334
At 30 August 2022 - 445 445

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 31 August 2022
and 30 August 2023 1
NET BOOK VALUE
At 30 August 2023 1
At 30 August 2022 1

Cipher Films Limited (Registered number: 04859237)

Notes to the Financial Statements - continued
for the Year Ended 30 August 2023

6. FILM PRODUCTION COSTS
Total
£   
FAIR VALUE
At 31 August 2022
and 30 August 2023 391,979
DEPRECIATION
At 31 August 2022
and 30 August 2023 391,979
NET BOOK VALUE
At 30 August 2023 -
At 30 August 2022 -

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.8.23 30.8.22
£    £   
Amounts owed by group undertakings 19,779 20,779
Other debtors 48,001 48,001
67,780 68,780

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.8.23 30.8.22
£    £   
Bank loans and overdrafts 47 17
Trade creditors 24 23
Amounts owed to group undertakings 384,775 384,775
Taxation and social security 17,236 16,924
Other creditors 5,021 12,083
407,103 413,822

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.8.23 30.8.22
value: £    £   
13,333 Ordinary £1 13,333 13,333

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

K S Wood (Senior Statutory Auditor)
for and on behalf of JWR Audit Limited

Cipher Films Limited (Registered number: 04859237)

Notes to the Financial Statements - continued
for the Year Ended 30 August 2023

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 August 2023 and 30 August 2022:

30.8.23 30.8.22
£    £   
G Isaac
Balance outstanding at start of year 230,280 161,282
Amounts advanced - 68,998
Amounts repaid (230,280 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 230,280

P P Mascolo
Balance outstanding at start of year - -
Amounts repaid (538 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (538 ) -

At the year end the directors owed the company £0 (2022: £230,280). Included within August 2023 accounts is a provision for directors loan write off totalling £230,280.

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mascolo Limited.