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COMPANY REGISTRATION NUMBER: 14026680
Zeb Films Limited
Filleted Unaudited Accounts
30 November 2023
Zeb Films Limited
Statement of Financial Position
30 November 2023
30 Nov 23
17 Jan 23
Note
£
£
Current assets
Debtors
6
935,058
1,922,476
Cash at bank and in hand
47,465
167,426
---------
------------
982,523
2,089,902
Creditors: amounts falling due within one year
7
( 982,521)
( 2,089,900)
---------
------------
Net current assets
2
2
----
----
Total assets less current liabilities
2
2
----
----
Net assets
2
2
----
----
Capital and reserves
Called up share capital
2
2
----
----
Shareholders funds
2
2
----
----
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 comprehensive income has not been delivered.
For the period ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476 ;
- The directors acknowledge their 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 11 September 2024 , and are signed on behalf of the board by:
A Ackland
Director
Company registration number: 14026680
Zeb Films Limited
Notes to the Accounts
Period from 18 January 2023 to 30 November 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 Unit 18 Nw Works, 135 Salusbury Road, London, NW6 6RJ, United Kingdom.
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.
Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Comparatives
The accounts cover the period from 18 January 2023 through to 30 November 2023. The comparatives cover the period from incorporation through to 17 January 2023.
The accounting period has been shortened to ensure that the accounting period and tax credit claim is conterminous.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying small entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under section 1A of FRS 102: (a) No cash flow statement has been presented for the company. (b) Disclosures in respect of financial instruments have not been presented.
Judgements and key sources of estimation uncertainty
Accruals are estimated by reference to purchase orders raised at the period end and estimates to complete. Payments received on account are estimated by reference to percentage of completion of the television production, as noted in "Revenue recognition" below.
Revenue recognition
Turnover relates to the production of the film entitled "The End We Start From". It represents the value of the work done in the period, including estimates of amounts not invoiced and is stated after trade discounts, other taxes and net of VAT. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
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. Employees
The company has been incorporated to produce a film entitled "The End We Start From". In common with the film and television industry the majority of crew are hired on short term contracts for the duration of principal photography or are self-employed.
None of the Directors received any form of remuneration.
5. Tax on loss
Major components of tax income
Period from
Period from
18 Jan 23 to
5 Apr 22 to
30 Nov 23
17 Jan 23
£
£
Current tax:
UK current tax income
( 273,448)
( 1,866,927)
---------
------------
Tax on loss
( 273,448)
( 1,866,927)
---------
------------
Reconciliation of tax income
The tax assessed on the loss on ordinary activities for the period is lower than (2023: lower than) the standard rate of corporation tax in the UK of 19 % (2023: 19 %).
Period from
Period from
18 Jan 23 to
5 Apr 22 to
30 Nov 23
17 Jan 23
£
£
Loss on ordinary activities before taxation
( 273,448)
( 1,866,927)
---------
------------
Film tax relief
(273,448)
(1,866,927)
---------
------------
6. Debtors
30 Nov 23
17 Jan 23
£
£
Prepayments and accrued income
641,193
VAT recoverable
20,388
12,642
Corporation tax recoverable
273,448
1,866,927
Other debtors
29
42,907
---------
------------
935,058
1,922,476
---------
------------
7. Creditors: amounts falling due within one year
30 Nov 23
17 Jan 23
£
£
Trade creditors
30,000
Accruals and deferred income
59,389
309,228
Production loan
889,584
1,763,959
Other creditors
3,548
16,713
---------
------------
982,521
2,089,900
---------
------------
The loan has been secured against the anticipated future film tax credit.
8. Contingent liabilities
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: C2 Motion Picture Group, Llc The British Film Institute Natixis Coficine S.A. British Broadcasting Corporation Tewsf S.C.S Film Finances Inc.
9. Related party transactions
All transactions related to the production of the film entitled "The End We Start From" and arose on an arm's-length basis through the normal course of business. No transactions with related parties were undertaken such as are required to be disclosed under FRS 102 Section 1A.
10. Controlling party
In the opinion of the directors, the company was under the joint control of Sunnymarch Ltd and Hera Pictures Limited.