Caseware UK (AP4) 2023.0.135 2023.0.135 2023-11-302023-11-30true2falseNo description of principal activity2The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2022-12-01true 10807453 2022-12-01 2023-11-30 10807453 2021-12-01 2022-11-30 10807453 2023-11-30 10807453 2022-11-30 10807453 c:Director2 2022-12-01 2023-11-30 10807453 d:CurrentFinancialInstruments 2023-11-30 10807453 d:CurrentFinancialInstruments 2022-11-30 10807453 d:CurrentFinancialInstruments d:WithinOneYear 2023-11-30 10807453 d:CurrentFinancialInstruments d:WithinOneYear 2022-11-30 10807453 d:ShareCapital 2023-11-30 10807453 d:ShareCapital 2022-11-30 10807453 d:RetainedEarningsAccumulatedLosses 2023-11-30 10807453 d:RetainedEarningsAccumulatedLosses 2022-11-30 10807453 c:FRS102 2022-12-01 2023-11-30 10807453 c:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 10807453 c:FullAccounts 2022-12-01 2023-11-30 10807453 c:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 iso4217:GBP xbrli:pure

Registered number: 10807453









CORACLE PICTURES LTD







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023

 
CORACLE PICTURES LTD
REGISTERED NUMBER: 10807453

STATEMENT OF FINANCIAL POSITION
AS AT 30 NOVEMBER 2023

2023
2022
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
-
6,328

Cash at bank and in hand
  
23,458
52,169

  
23,458
58,497

Creditors: amounts falling due within one year
 5 
(70,525)
(67,125)

Net current liabilities
  
 
 
(47,067)
 
 
(8,628)

Total assets less current liabilities
  
(47,067)
(8,628)

  

Net liabilities
  
(47,067)
(8,628)


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
(47,068)
(8,629)

  
(47,067)
(8,628)


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 year 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 income and retained earnings 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 30 August 2024

E T Davies
Director

The notes on pages 2 to 3 form part of these financial statements.

Page 1

 
CORACLE PICTURES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1.


General information

Coracle Pictures Limited is a private company limited by shares and registered in England & Wales. The address of its registered office is 3-4 Mount Stuart Square, Cardiff Bay, Cardiff, CF10 5EE. 

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

At the reporting date the company had net liabilities of £47,067 and meets its day to day working capital requirements through the utilisation of its own funds, loan facilities and a loan from its ultimate controlling party.
After reviewing the company's funding facilities, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.  The directors therefore continue to adopt the going concern basis in preparing the financial statements.

 
2.3

Foreign currency translation

Functional and presentation currency
The Company's functional and presentational currency is GBP.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Taxation

Tax is recognised in the Statement of Income and Retained Earnings. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates income.
The Company is eligible to claim a tax credit on film production costs. The tax credit comprises relief based on total net costs and an additional deduction for enhanceable expenditure. The Company claims a payment based on the amount of enhanceable expenditure and carries losses arising from total net costs forward against future profits. 

 
2.6

Debtors

Short term debtors are measured at transaction price, less any impairment.

Page 2

 
CORACLE PICTURES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.7

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.

 
2.8

Creditors

Short term creditors are measured at the transaction price. 

 
2.9

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans from third parties.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).


4.


Debtors

2023
2022
£
£


Tax recoverable
-
6,328

-
6,328



5.


Creditors: Amounts falling due within one year

2023
2022
£
£

Amounts owed to group undertakings
63,775
63,775

Other creditors
4,000
-

Accruals and deferred income
2,750
3,350

70,525
67,125


Other creditors are secured by a fixed and floating charge over the assets of the company. 


6.


Controlling party

During the period, the immediate and ultimate parent undertaking is Severn Denmark Ltd. The ultimate controlling party is D Aukin and E T Davies. 

 
Page 3