Caseware UK (AP4) 2023.0.135 2023.0.135 2023-11-302023-11-30truefalse2022-12-01falseNo description of principal activity1411trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 04325267 2022-12-01 2023-11-30 04325267 2021-12-01 2022-11-30 04325267 2023-11-30 04325267 2022-11-30 04325267 c:Director2 2022-12-01 2023-11-30 04325267 d:Buildings d:ShortLeaseholdAssets 2022-12-01 2023-11-30 04325267 d:Buildings d:ShortLeaseholdAssets 2023-11-30 04325267 d:Buildings d:ShortLeaseholdAssets 2022-11-30 04325267 d:PlantMachinery 2022-12-01 2023-11-30 04325267 d:PlantMachinery 2023-11-30 04325267 d:PlantMachinery 2022-11-30 04325267 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 04325267 d:FurnitureFittings 2022-12-01 2023-11-30 04325267 d:OfficeEquipment 2022-12-01 2023-11-30 04325267 d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 04325267 d:CurrentFinancialInstruments 2023-11-30 04325267 d:CurrentFinancialInstruments 2022-11-30 04325267 d:CurrentFinancialInstruments d:WithinOneYear 2023-11-30 04325267 d:CurrentFinancialInstruments d:WithinOneYear 2022-11-30 04325267 d:ShareCapital 2023-11-30 04325267 d:ShareCapital 2022-11-30 04325267 d:RetainedEarningsAccumulatedLosses 2023-11-30 04325267 d:RetainedEarningsAccumulatedLosses 2022-11-30 04325267 c:FRS102 2022-12-01 2023-11-30 04325267 c:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 04325267 c:FullAccounts 2022-12-01 2023-11-30 04325267 c:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 04325267 d:WithinOneYear 2023-11-30 04325267 d:WithinOneYear 2022-11-30 04325267 d:BetweenOneFiveYears 2023-11-30 04325267 d:BetweenOneFiveYears 2022-11-30 04325267 d:AcceleratedTaxDepreciationDeferredTax 2023-11-30 04325267 d:AcceleratedTaxDepreciationDeferredTax 2022-11-30 04325267 e:PoundSterling 2022-12-01 2023-11-30 iso4217:GBP xbrli:pure

Registered number: 04325267









LUPUS FILMS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023

 
LUPUS FILMS LIMITED
REGISTERED NUMBER: 04325267

STATEMENT OF FINANCIAL POSITION
AS AT 30 NOVEMBER 2023

2023
2022
£
£

Fixed assets
  

Tangible assets
 4 
106,232
80,656

Investments
 5 
451
451

  
106,683
81,107

Current assets
  

Debtors: amounts falling due within one year
 6 
798,678
181,109

Cash at bank and in hand
 7 
1,262,073
1,001,339

  
2,060,751
1,182,448

Creditors: amounts falling due within one year
 8 
(464,491)
(280,627)

Net current assets
  
 
 
1,596,260
 
 
901,821

Total assets less current liabilities
  
1,702,943
982,928

Provisions for liabilities
  

Deferred tax
 9 
(23,035)
(16,929)

  
 
 
(23,035)
 
 
(16,929)

Net assets
  
1,679,908
965,999


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
1,679,906
965,997

  
1,679,908
965,999


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.
 
Page 1

 
LUPUS FILMS LIMITED
REGISTERED NUMBER: 04325267
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 NOVEMBER 2023


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 29 August 2024.




R Fielding
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
LUPUS FILMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1.


General information

Lupus Films Limited is a private company limited by shares and registered in England and Wales. The address of the registered office is 124 Finchley Road, London, NW3 5JS and the address of its principal place of business is 339 Upper Street, London, N1 0PB.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

 
2.3

Revenue

Revenue comprises animation production services and studio rental and is recognised in the Statement of Income and Retained Earnings in the period in which the service is performed.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the lease term.

Page 3

 
LUPUS FILMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.5

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Statement of Financial Position, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Page 4

 
LUPUS FILMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Short-term leasehold property
-
5 years straight line
Fixtures and fittings
-
25% reducing balance
Office equipment
-
25% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Debtors

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

 
2.10

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.

 
2.11

Creditors

Short term creditors are measured at the transaction price.

 
2.12

Dividends

Equity dividends are recognised when they become legally payable. Equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 14 (2022 - 11).

Page 5

 
LUPUS FILMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

4.


Tangible fixed assets





Short-term leasehold property
Plant and machinery
Total

£
£
£



Cost or valuation


At 1 December 2022
67,741
288,464
356,205


Additions
5,819
55,158
60,977



At 30 November 2023

73,560
343,622
417,182



Depreciation


At 1 December 2022
54,803
220,746
275,549


Charge for the year on owned assets
4,689
30,712
35,401



At 30 November 2023

59,492
251,458
310,950



Net book value



At 30 November 2023
14,068
92,164
106,232



At 30 November 2022
12,938
67,718
80,656

Page 6

 
LUPUS FILMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

5.


Fixed asset investments





Unlisted investments

£



Cost or valuation


At 1 December 2022
451



At 30 November 2023
451





6.


Debtors

2023
2022
£
£


Trade debtors
638,106
20,027

Amounts owed by group undertakings
100,000
-

Other debtors
19,000
19,250

Prepayments and accrued income
41,572
141,832

798,678
181,109



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
1,262,073
1,001,339

1,262,073
1,001,339


Page 7

 
LUPUS FILMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
18,929
13,564

Corporation tax
196,269
161,122

Other taxation and social security
168,568
81,161

Other creditors
3,815
2,161

Accruals and deferred income
76,910
22,619

464,491
280,627



9.


Deferred taxation




2023


£






At beginning of year
(16,929)


Charged to profit or loss
(6,106)



At end of year
(23,035)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(23,035)
(16,929)

(23,035)
(16,929)


10.


Commitments under operating leases

At 30 November 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
50,000
12,500

Later than 1 year and not later than 5 years
237,500
-

287,500
12,500

Page 8

 
LUPUS FILMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

11.


Related party transactions

During the year dividends totalling £322,000 (2022: £196,450) were paid to the directors of the Company.


12.


Controlling party

Throughout the current and preceeding year, the Company was under the control of its directors, by virtue of their shareholding.

 
Page 9