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COMPANY REGISTRATION NUMBER: 1849534
Rutland Weekend Television (International) Limited
Filleted Unaudited Financial Statements
31 December 2023
Rutland Weekend Television (International) Limited
Financial Statements
Year ended 31 December 2023
Contents
Page
Statement of financial position
1
Statement of changes in equity
2
Notes to the financial statements
3
Rutland Weekend Television (International) Limited
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
£
Current assets
Debtors
5
131,882
5,975
Cash at bank and in hand
85,148
36,610
---------
--------
217,030
42,585
Creditors: amounts falling due within one year
6
( 195,915)
( 35,857)
---------
--------
Net current assets
21,115
6,728
--------
-------
Total assets less current liabilities
21,115
6,728
--------
-------
Net assets
21,115
6,728
--------
-------
Capital and reserves
Called up share capital
2
2
Profit and loss account
21,113
6,726
--------
-------
Shareholders funds
21,115
6,728
--------
-------
These financial statements 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 income statement has not been delivered.
For the year 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 financial statements for the year 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 financial statements .
These financial statements were approved by the board of directors and authorised for issue on 18 September 2024 , and are signed on behalf of the board by:
E Idle
Director
Company registration number: 1849534
Rutland Weekend Television (International) Limited
Statement of Changes in Equity
Year ended 31 December 2023
Called up share capital
Profit and loss account
Total
£
£
£
At 1 January 2022
2
12,030
12,032
Loss for the year
( 5,304)
( 5,304)
----
--------
--------
Total comprehensive income for the year
( 5,304)
( 5,304)
At 31 December 2022
2
6,726
6,728
Profit for the year
14,387
14,387
----
--------
--------
Total comprehensive income for the year
14,387
14,387
----
--------
--------
At 31 December 2023
2
21,113
21,115
----
--------
--------
Rutland Weekend Television (International) Limited
Notes to the Financial Statements
Year ended 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 Field Green Oast, Sponden Lane, Sandhurst, Cranbrook, Kent, TN18 5NP.
2. Statement of compliance
These financial statements 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 financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity. The amounts are presented in the financial statements to the nearest £, unless otherwise stated. The financial statements have been prepared on the going concern basis.
Going concern
In the opinion of the directors the company is a going concern as it has sufficient financial resources to be able to continue trading for at least the next twelve months.
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 FRS 102 Section 1A: (a) Disclosures in respect of each class of share capital have not been presented. (b) No cash flow statement has been presented for the company. (c) Disclosures in respect of financial instruments have not been presented. (d) No disclosure has been given for the aggregate remuneration of key management personnel.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable in respect of royalties, stated net of discounts and of Value Added Tax.
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.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. Trade and other debtors Trade and other debtors are initially recorded at the transaction price and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, receivables are stated at cost less impairment losses for bad and doubtful debts. Cash at bank and in hand Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. Creditors and provision Creditors and provisions are recognised where the company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
5. Debtors
2023
2022
£
£
Trade debtors
116,551
Other debtors
15,331
5,975
---------
-------
131,882
5,975
---------
-------
6. Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
57
Other creditors
195,858
35,857
---------
--------
195,915
35,857
---------
--------
7. Related party transactions
As Rutland Weekend Television Limited, the parent undertaking, is owned by E. Idle and T. Idle, directors of Rutland Weekend Television (International) Limited , the company is considered to be under their control. During the year the company provided Artistes' Services to Python (Monty) Pictures Limited, a company in which E. Idle as a 16.67% shareholding, for £55,363 (2022 - £55,363). Included within trade and other debtors at the year end is an amount of £131,294 (2022 - £5,754) owed by Python (Monty) Pictures Limited. Included within other creditors at the year end is a balance due to E. Idle, a director of the company, of £190,058 (2022 - £33,357). The loan is repayable on demand. No interest is payable on the loan.
8. Controlling party
In the opinion of the directors the ultimate parent undertaking is Rutland Weekend Television Limited , a company registered in England and Wales. Copies of its individual accounts can be obtained from Field Green Oast, Sponden Lane, Sandhurst, Cranbrook, Kent, TN18 5NP.