Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31Tax is recognised in the Statement of Comprehensive Income, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Statement of Financial Position date, except that: The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.2023-01-01falsetruetelevision production65falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 11119715 2023-01-01 2023-12-31 11119715 2022-01-01 2022-12-31 11119715 2023-12-31 11119715 2022-12-31 11119715 c:Director1 2023-01-01 2023-12-31 11119715 d:FurnitureFittings 2023-01-01 2023-12-31 11119715 d:FurnitureFittings 2023-12-31 11119715 d:FurnitureFittings 2022-12-31 11119715 d:CurrentFinancialInstruments 2023-12-31 11119715 d:CurrentFinancialInstruments 2022-12-31 11119715 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 11119715 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 11119715 d:ShareCapital 2023-12-31 11119715 d:ShareCapital 2022-12-31 11119715 d:RetainedEarningsAccumulatedLosses 2023-12-31 11119715 d:RetainedEarningsAccumulatedLosses 2022-12-31 11119715 c:OrdinaryShareClass1 2023-01-01 2023-12-31 11119715 c:OrdinaryShareClass1 2023-12-31 11119715 c:OrdinaryShareClass1 2022-12-31 11119715 c:FRS102 2023-01-01 2023-12-31 11119715 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 11119715 c:FullAccounts 2023-01-01 2023-12-31 11119715 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 11119715 e:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 11119715














LIVEWIRE PICTURES LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED  31 DECEMBER 2023

 
LIVEWIRE PICTURES LIMITED
 

CONTENTS



Page
Statement of Financial Position
 
1
Notes to the Financial Statements
 
2 - 6


 
LIVEWIRE PICTURES LIMITED
REGISTERED NUMBER:11119715

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
-
-

Current assets
  

Debtors: amounts falling due within one year
 5 
33,325
442,896

Cash at bank and in hand
  
266,792
158,389

  
300,117
601,285

Current liabilities
  

Creditors: amounts falling due within one year
 6 
(1,278,202)
(1,341,405)

Total assets less current liabilities
  
 
 
(978,085)
 
 
(740,120)

Net liabilities
  
(978,085)
(740,120)


Capital and reserves
  

Called up share capital 
 7 
1
1

Profit and loss account
  
(978,086)
(740,121)

  
(978,085)
(740,120)


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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.

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 23 September 2024.




G D Freeman
Director

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

Page 1

 
LIVEWIRE PICTURES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Livewire Pictures Limited is a private limited liability company incorporated in England and Wales with its registered office address at 7 Savoy Court, London, WC2R 0EX and trading office address at 33 Oval Road, London, NW1 7EA.
The principal activity of the Company is that of creation and production of entertainment and music programmes.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The Company's forecast and projections, taking account of reasonably possible changes in trading performance and the continued financial support from a shareholder, show that the Company should be able to continue to meet its operating liabilities as they fall due. Therefore the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for at least 12 months from the date of their approval of the financial statements. Accordingly, they continue to adopt the going concern basis in preparing the annual report and accounts.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is £ sterling.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Page 2

 
LIVEWIRE PICTURES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured.
Turnover comprises of production fees measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Production turnover and gross profit are recognised over the period of the production, on a stage of completion and straight line basis respectively.

 
2.5

Finance costs

Finance costs are charged to the Statement of Comprehensive Income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount.

 
2.6

Pensions

Defined contribution pension plan
The Company contributes to a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Taxation

Tax is recognised in the Statement of Comprehensive Income, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Statement of Financial Position date, except that:

The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 
LIVEWIRE PICTURES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.8
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of comprehensive income.

 
2.9

Debtors

Short term debtors are measured at the transaction price.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short term creditors are measured at the transaction price.


3.


Employees

The average monthly number of employees, including directors, during the year was 6 (2022 - 5).

Page 4

 
LIVEWIRE PICTURES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Fixtures and fittings

£



Cost


At 1 January 2023
1,706



At 31 December 2023

1,706



Depreciation


At 1 January 2023
1,706



At 31 December 2023

1,706



Net book value



At 31 December 2023
-



At 31 December 2022
-


5.


Debtors

2023
2022
£
£

Trade debtors
8,753
137,093

Other debtors
22,655
185,232

Prepayments and accrued income
1,917
120,571

33,325
442,896


Page 5

 
LIVEWIRE PICTURES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
119
21

Other loans
1,055,953
880,961

Trade creditors
178,535
185,055

Taxation and social security
13,098
20,028

Other creditors
6,409
9,998

Accruals and deferred income
24,088
245,342

1,278,202
1,341,405


Secured loans
Other loans are secured by a fixed and floating charge over all assets of the Company.
The other loans have no fixed date of repayment and are repayable on demand.


7.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 (2022 - 100) Ordinary shares of £0.01 each
1
1


 
Page 6