REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 12 June 2023 to 30 June 2024 |
for |
Moonquake Ltd |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 12 June 2023 to 30 June 2024 |
for |
Moonquake Ltd |
Moonquake Ltd (Registered number: 14930178) |
Contents of the Financial Statements |
for the Period 12 June 2023 to 30 June 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Moonquake Ltd |
Company Information |
for the Period 12 June 2023 to 30 June 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
39 Long Acre |
London |
WC2E 9LG |
Moonquake Ltd (Registered number: 14930178) |
Balance Sheet |
30 June 2024 |
Notes | £ |
CURRENT ASSETS |
Stocks | 4 |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
RESERVES |
Retained earnings |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
Moonquake Ltd (Registered number: 14930178) |
Balance Sheet - continued |
30 June 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
Moonquake Ltd (Registered number: 14930178) |
Notes to the Financial Statements |
for the Period 12 June 2023 to 30 June 2024 |
1. | STATUTORY INFORMATION |
Moonquake Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Work in progress |
Work in progress relates to direct production costs incurred on productions in progress at the Balance sheet date. The costs are recorded at the lower of cost and net realisable value and are net of Value Added Tax. |
Production costs are released to the profit and loss account on the delivery of programmes to the broadcaster, at which time the turnover is also recognised. |
Costs arising for projects that have not yet been greenlit or funded by a third party are expensed as incurred. |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Creditors |
Short-term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at fair value, net of any transaction costs, and subsequently measured at amortised cost determined using the effective interest method. |
The company capitalises all cash received in relation to the production of television as production advances until the production has completed and accepted by the customer, at which point it is recognised as part of revenue. |
Moonquake Ltd (Registered number: 14930178) |
Notes to the Financial Statements - continued |
for the Period 12 June 2023 to 30 June 2024 |
2. | ACCOUNTING POLICIES - continued |
Cost recognition |
Development costs are generally expensed as incurred to the income statement. Where development funding has been received, the revenue is recognised on a cost-plus basis. However, if a firm commitment exists which indicates that current and future expenses will be recoverable, development costs are capitalised in the costs of a programme. These costs are capitalised in WIP as a part of a specific project expected to be set for production. |
Productions costs are ordinarily accumulated by individual programmes in four chronological steps: |
acquisition of story rights; pre-production (which includes script development, costume design, set design, and construction); principal photography (which includes shooting the production); and post-production (which includes sound synchronisation and editing); culminating in the completed master negative. All costs are capitalised to Work in Progress (WIP) until the point at which the WIP balance is recognised or consumed on the income statement, generally as delivery of the episodes occurs. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was NIL. |
4. | STOCKS |
£ |
Work-in-progress |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Tax |
VAT |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Other creditors |
Accruals and deferred income |