Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.No description of principal activity22023-01-012falsefalse 11725260 2023-01-01 2023-12-31 11725260 2022-01-01 2022-12-31 11725260 2023-12-31 11725260 2022-12-31 11725260 c:Director1 2023-01-01 2023-12-31 11725260 d:CurrentFinancialInstruments 2023-12-31 11725260 d:CurrentFinancialInstruments 2022-12-31 11725260 d:Non-currentFinancialInstruments 2023-12-31 11725260 d:Non-currentFinancialInstruments 2022-12-31 11725260 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 11725260 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 11725260 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 11725260 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 11725260 d:ShareCapital 2023-12-31 11725260 d:ShareCapital 2022-12-31 11725260 d:RetainedEarningsAccumulatedLosses 2023-12-31 11725260 d:RetainedEarningsAccumulatedLosses 2022-12-31 11725260 c:FRS102 2023-01-01 2023-12-31 11725260 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 11725260 c:FullAccounts 2023-01-01 2023-12-31 11725260 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 11725260 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 11725260









FIRST SERVE PRODUCTIONS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
FIRST SERVE PRODUCTIONS LIMITED
REGISTERED NUMBER: 11725260

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2023
2022
2022
Note
£
£
£
£

  

Current assets
  

Stocks
  
-
1,216,737

Debtors: amounts falling due within one year
 4 
378,891
17,882

Cash at bank and in hand
  
645
138,795

  
379,536
1,373,414

Creditors: amounts falling due within one year
 5 
(13,309)
(190,593)

Net current assets
  
 
 
366,227
 
 
1,182,821

Creditors: amounts falling due after more than one year
 6 
-
(1,172,655)

  

Net assets
  
366,227
10,166


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
366,225
10,164

  
366,227
10,166


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 comprehensive income 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 by: 

J Battsek
Director

Date: 30 August 2024

The notes on pages 3 to 5 form part of these financial statements.
Page 1

 
FIRST SERVE PRODUCTIONS LIMITED
REGISTERED NUMBER: 11725260
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023


Page 2

 
FIRST SERVE PRODUCTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

First Serve Productions Limited is a private company limited by shares incorporated in the United Kingdom and registered in Engalnd and Wales. The address of its registered office is 2 Duke Street, London, W1U 3EH.

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.

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.

  
2.3

Production costs

Film production costs incurred in producing a film are recognised in the statement of comprehensive income as cost of sales in the period in which they are incurred.

 
2.4

Revenue

Revenue, from film sales, is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding value added tax and other sales taxes.

 
2.5

Taxation

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.

Page 3

 
FIRST SERVE PRODUCTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.6

Stocks

Stocks take the form of work in progress. Work in progress relates to direct production costs incurred on film productions not yet delivered. Production costs are recognised in the income statement as soon as the production is delivered and the related sale is recognised.

At each reporting date, stocks are assessed for impairment. If stock 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.

 
2.7

Debtors

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

 
2.8

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.

 
2.9

Creditors

Short-term creditors are measured at the transaction price.


3.


Employees




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


4.


Debtors

2023
2022
£
£


Other debtors
12,666
17,882

Tax recoverable
366,225
-

378,891
17,882


Page 4

 
FIRST SERVE PRODUCTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
5,820
152,675

Other creditors
129
30,518

Accruals and deferred income
7,360
7,400

13,309
190,593



6.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Other creditors
-
1,172,655

-
1,172,655


The following liabilities were secured:

2023
2022
£
£



Other creditors
-
1,172,655

-
1,172,655

Details of security provided:

Other creditors of £nil (2022: £1,172,655) are secured over the production and the assets of the company.


7.


Related party transactions

The company is exempt from disclosing related party transactions which occur between other companies that are wholly owned within its group.
During the year the company was charged production costs, on an arm's length basis, of £411,571 (2022: 17,247) by Ventureland Limited and £88,015 (2022: £132,694) by Ventureland LLC which are connected parties by virtue of a mutual director. At the reporting date, the company owed £129 (2022: £nil) to Ventureland Limited and £nil (2022: 25,518) to Ventureland LLC.

 
Page 5