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Registered number: 13800170









OCTOBER MYSTERIES LIMITED








FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
OCTOBER MYSTERIES LIMITED
REGISTERED NUMBER: 13800170

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
786,595
773,637

Cash at bank and in hand
  
3,211
697,183

  
789,806
1,470,820

Creditors: amounts falling due within one year
 5 
(784,880)
(1,229,707)

Net current assets
  
 
 
4,926
 
 
241,113

  

Net assets
  
4,926
241,113


Capital and reserves
  

Called up share capital 
 6 
100
100

Profit and loss account
  
4,826
241,013

  
4,926
241,113


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 20 February 2024.




N Peachey
Director

The notes on pages 2 to 6 form part of these financial statements.

Page 1

 
OCTOBER MYSTERIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

October Mysteries Limited ('the company') is a private company limited by shares, incorporated under the UK Companies Act 2006 and domiciled in England.
The address of the company's registered office and principal place of business is Benwell Studios, 11-13 Benwell Road, London, N7 7BL.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the company's accounting policies.

There were no significant judgments and/or sources of estimation uncertainty made in applying the company's accounting policies towards the preparation of these financial statements that may be considered as yielding a significant risk of a material adjustment being made to the carrying amounts of assets and/or liabilities reported in the balance sheet during the next financial reporting period.

 
2.2

Going concern

After reviewing the company's forecast and projection, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company, therefore, continues to adopt the going concern basis in preparing its financial statements.

  
2.3

Reporting period

The comparatives of the financial statements were prepared for the period from 14 December 2021 to 31 December 2022, a period longer than one year as this was the first reporting period for the company. 
Subsequently, the current year results were prepared for the year ended 31 December 2023, and therefore the comparatives are not entirely comparable. 

 
2.4

Revenue

Turnover comprises revenues receivable by the company during the financial reporting period in respect of the supply of film, television and over-the-top programming production services.
Revenues in respect of production services comprise fees and other pre-sales receivable, exclusive of Value Added Tax, in exchange for the provision of a contract for services; with recognition made by reference to the stage of completion of contract activity as at the balance sheet date. Where it is probable that the total costs on a contract will exceed total contract revenue, the expected loss is immediately recognised as an expense in profit or loss.
 
Page 2

 
OCTOBER MYSTERIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.4
Revenue (continued)


The company does not expect to have any contracts where the period between the transfer of the contracted services and related payment exceeds one year. As a consequence, the company does not adjust any of the transaction prices for the time value of money.

  
2.5

Production tax credits

Production tax credits are incentives provided to creative industries designed to promote culturally relevant productions in the UK, to incentivise investment into UK productions that would otherwise take place outside the UK, and to support the necessary critical mass of infrastructure and skills in the UK for both today and in the longer term.
Production tax credits are reported within other operating income and not taxation on the grounds that such tax credits are deemed to be working capital in nature for they arise, albeit not as a direct result, in the course of normal operational activities.

 
2.6

Foreign currency translation

Functional and presentational currency
Items included in the financial statements of the company are measured using the currency of the primary economic environment in which the company operates (the "functional currency").
The functional currency of the company, and the currency in which the financial statements are presented (the "presentational currency"), is 'Pounds Sterling' (£) rounded to the nearest single unit of currency.
Transactions and balances
Foreign currencies are translated into the functional (and presentational) currency using the exchange rates prevailing at the date of the respective transaction or valuation where items are remeasured.
Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at financial period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the profit and loss account as part of total comprehensive income.

 
2.7

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities; with said financial assets and liabilities classified in accordance with the substance of the underlying contractual obligations rather than its legal form.
Financial assets and liabilities are recognised in the company's balance sheet when the company becomes a party to the contractual provisions of the instrument.
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or the financial asset is transferred along with substantially all the risks and rewards of ownership of the asset to another party. Financial liabilities are derecognised only when the company’s obligations are discharged, cancelled or expired.
 
Page 3

 
OCTOBER MYSTERIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.7
Financial instruments (continued)


The measurement of specific financial assets (other than investments), financial liabilities, and equity held by the company are as outlined below:
Debtors and creditors
Debtors, excluding deferred taxation, and creditors deemed to be short term in nature are initially measured at transaction price (i.e fair value) and subsequently held, at transaction price less provision for impairment of assets. The company held no debtors, excluding deferred taxation, and/or creditors deemed not to be short term in nature during the current or preceding financial reporting periods.
Cash and cash equivalents
Cash balances are reported by the company as being financial instruments classified as short term receivables and are represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours and subject to an insignificant risk of changes in value. Cash and cash equivalents are held at floating interest rates linked to UK bank rates.
Equity and dividends
Ordinary share capital, shown in equity, is initially measured at transaction price. There were no
costs directly attributable to Ordinary share capital issued by the company.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2022 - 3).

Page 4

 
OCTOBER MYSTERIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Debtors

2023
2022
£
£


Trade debtors
165,834
-

Amounts owed by group undertakings
297,251
446,895

Other debtors
12,751
80,926

Tax recoverable
310,759
245,816

786,595
773,637



5.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
4,745
28,635

Amounts owed to group undertakings
334,831
-

Accruals and deferred income
445,304
1,201,072

784,880
1,229,707



6.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 (2022 - 100) Ordinary shares of £1.00 each
100
100



7.


Related party transactions

The company is a wholly owned subsidiary within a group for which consolidated financial statements are publicly available and accordingly has taken advantage of the exemptions provided by 'Financial Reporting Standard 102' not to disclose transactions with the other group entities including its parent and fellow subsidiary undertakings.

Page 5

 
OCTOBER MYSTERIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

8.


Controlling party

The immediate parent undertaking is October Films Limited, a company incorporated under the UK Companies Act 1985 and whose registered office is located at Benwell Studios, 11 - 13 Benwell Road, London, N7 7BL.
At the reporting date, the ultimate parent undertaking and the smallest and largest group to consolidate these financial statements is October Films Holdings Limited. Copies of the October Films Holdings Limited consolidated financial statements are available from Benwell Studios, 11-13 Benwell Road, London, N7 7BL.


9.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 20 February 2024 by Anthony Pins (senior statutory auditor) on behalf of Nyman Libson Paul LLP.

 
Page 6