Immersiverse Limited
Unaudited Financial Statements
For the year ended 30 April 2024
Pages for Filing with Registrar
Company Registration No. 11338768 (England and Wales)
Immersiverse Limited
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 4
Immersiverse Limited
Balance Sheet
As at 30 April 2024
Page 1
2024
2023
Notes
£
£
£
£
Current assets
Debtors
3
116,045
118,060
Cash at bank and in hand
2,650
1,284
118,695
119,344
Creditors: amounts falling due within one year
4
(154,422)
(150,950)
Net current liabilities
(35,727)
(31,606)
Capital and reserves
Called up share capital
5
1
1
Profit and loss reserves
(35,728)
(31,607)
Total equity
(35,727)
(31,606)
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 11 September 2024 and are signed on its behalf by:
A Tateo
Director
Company Registration No. 11338768
Immersiverse Limited
Notes to the Financial Statements
For the year ended 30 April 2024
Page 2
1
Accounting policies
Company information
Immersiverse Limited is a private company limited by shares incorporated in England and Wales. The registered office is c/o DogEatDog, 7 Poland Street, London, W1F 8PU.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
These financial statements are prepared on the going concern basis. trueSilver Lining Productions No.1 Limited, the parent company, has provided a letter of support confirming that financial support with be provided for a period of not less than twelve months from the date of signing the financial statements. The parent has also confirmed that it will not seek repayment of amounts owed without compromising the ability of the company to trade and meet its liabilities as they fall due. As a result, the directors have a reasonable expectation that the company will continue in operational existence for the foreseeable future.
1.3
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.4
Financial instruments
The company only has basic financial instruments measured at amortised cost with no financial instruments classified as other or basic instruments measured at fair value.
1.5
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.6
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
Immersiverse Limited
Notes to the Financial Statements (Continued)
For the year ended 30 April 2024
Page 3
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 2 (2023 - 2).
2024
2023
Number
Number
Total
2
2
3
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
116,045
118,060
4
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
9,758
3,248
Amounts owed to group undertakings
143,804
142,744
Other creditors
860
4,958
154,422
150,950
5
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Share of £1 each
1
1
1
1
6
Related party transactions
The company has taken the exemption under FRS102 not to disclose transactions with 100% group companies.
7
Parent company
The parent company is Silver Lining Productions No.1 Limited, a company registered in England and Wales. The directors do not consider there to be an ultimate controlling party.
Immersiverse Limited
Notes to the Financial Statements (Continued)
For the year ended 30 April 2024
Page 4
8
Liabilities and charges
Charges have been made against the film "Hope Gap" in favour of the following parties to secure their interests in the copyright of the title to the film: Silver Lining Productions No.1 Ltd; Film Finances Inc.; Lip Sync Productions LLP; Origin Pictures Ltd; Sampsonic Media Ltd; Screen Yorkshire Ltd and William Nicholson.