0 false false false false false false false false false false true false false false false false false No description of principal activity 2023-06-06 Sage Accounts Production Advanced 2023 - FRS102_2023 17,383,431 2,951,430 14,432,001 14,432,001 xbrli:pure xbrli:shares iso4217:GBP 14917435 2023-06-06 2023-12-31 14917435 2023-12-31 14917435 2023-06-05 14917435 bus:OrdinaryShareClass1 2023-06-06 2023-12-31 14917435 bus:Director1 2023-06-06 2023-12-31 14917435 core:WithinOneYear 2023-12-31 14917435 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-06-06 2023-12-31 14917435 core:ShareCapital 2023-12-31 14917435 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-12-31 14917435 bus:SmallEntities 2023-06-06 2023-12-31 14917435 bus:AuditExemptWithAccountantsReport 2023-06-06 2023-12-31 14917435 bus:SmallCompaniesRegimeForAccounts 2023-06-06 2023-12-31 14917435 bus:PrivateLimitedCompanyLtd 2023-06-06 2023-12-31 14917435 bus:FullAccounts 2023-06-06 2023-12-31 14917435 bus:OrdinaryShareClass1 2023-12-31
COMPANY REGISTRATION NUMBER: 14917435
Cleaner Movie Limited
Filleted Unaudited Accounts
31 December 2023
Cleaner Movie Limited
Statement of Financial Position
31 December 2023
31 Dec 23
Note
£
Fixed assets
Intangible assets
5
14,432,001
Current assets
Debtors
6
3,628,023
Cash at bank and in hand
496,860
------------
4,124,883
Creditors: amounts falling due within one year
7
( 18,556,883)
-------------
Net current liabilities
( 14,432,000)
-------------
Total assets less current liabilities
1
----
Net assets
1
----
Capital and reserves
Called up share capital
8
1
----
Shareholders funds
1
----
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 31 December 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 .
Cleaner Movie Limited
Statement of Financial Position (continued)
31 December 2023
These accounts were approved by the board of directors and authorised for issue on 12 September 2024 , and are signed on behalf of the board by:
S F Raybaud
Director
Company registration number: 14917435
Cleaner Movie Limited
Notes to the Accounts
Period from 6 June 2023 to 31 December 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 3-4 Hardwick Street, London, EC1R 4RB, England.
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.
Significant estimation technique adopted
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 film, as noted in "Revenue Recognition" below.
Comparatives
The accounts cover the period from incorporation through to 31 December 2023, hence there are no comparative figures.
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.
Intangible assets
Production costs are capitalised as intangible assets. Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
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 called "Cleaner". 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. Intangible assets
Production costs
£
Cost
Production costs
17,383,431
Film tax credit
( 2,951,430)
-------------
At 31 December 2023
14,432,001
-------------
Amortisation
At 6 June 2023 and 31 December 2023
-------------
Carrying amount
At 31 December 2023
14,432,001
-------------
6. Debtors
31 Dec 23
£
VAT recoverable
383,950
Corporation tax recoverable
2,951,430
Other debtors
292,643
------------
3,628,023
------------
7. Creditors: amounts falling due within one year
31 Dec 23
£
Trade creditors
144
Amounts owed to group undertakings
3,104,116
Accruals and deferred income
2,111
Production loan
12,236,987
Other creditors
3,213,525
-------------
18,556,883
-------------
The loan has been secured against the anticipated future film tax credit.
8. Called up share capital
Issued, called up and fully paid
31 Dec 23
No.
£
Ordinary shares of £ 1 each
1
1
----
----
9. Contingencies
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: Smc Specialty Finance, Llc Cleaner Film S.C.S La Studio Group Llc Comerica Bank
10. Related party transactions
During the year no related-party transactions took place. All transactions related to the production of the film "Cleaner" 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.
11. Controlling party
During the period the Company was under the control of Mr S F Raybaud .