Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31false2023-01-011falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.1truetrue 02993049 2023-01-01 2023-12-31 02993049 2022-01-01 2022-12-31 02993049 2023-12-31 02993049 2022-12-31 02993049 c:Director1 2023-01-01 2023-12-31 02993049 d:CurrentFinancialInstruments 2023-12-31 02993049 d:CurrentFinancialInstruments 2022-12-31 02993049 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 02993049 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 02993049 d:ShareCapital 2023-12-31 02993049 d:ShareCapital 2022-12-31 02993049 d:RetainedEarningsAccumulatedLosses 2023-12-31 02993049 d:RetainedEarningsAccumulatedLosses 2022-12-31 02993049 c:OrdinaryShareClass1 2023-01-01 2023-12-31 02993049 c:OrdinaryShareClass1 2023-12-31 02993049 c:OrdinaryShareClass1 2022-12-31 02993049 c:FRS102 2023-01-01 2023-12-31 02993049 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 02993049 c:FullAccounts 2023-01-01 2023-12-31 02993049 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 02993049 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:shares xbrli:pure
Registered number: 02993049














HIT & RUN PRODUCTIONS LIMITED

 
UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
HIT & RUN PRODUCTIONS LIMITED
REGISTERED NUMBER:02993049

BALANCE SHEET
AS AT 31 DECEMBER 2023

As restated
2023
2022
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
31
-

Cash at bank
 5 
160,101
161,086

  
160,132
161,086

Creditors: amounts falling due within one year
 6 
(1,375,258)
(1,369,955)

Net current liabilities
  
 
 
(1,215,126)
 
 
(1,208,869)

Total assets less current liabilities
  
(1,215,126)
(1,208,869)

  

Net liabilities
  
(1,215,126)
(1,208,869)


Capital and reserves
  

Called up share capital 
 7 
100
100

Profit and loss account
  
(1,215,226)
(1,208,969)

  
(1,215,126)
(1,208,869)


Page 1

 
HIT & RUN PRODUCTIONS LIMITED
REGISTERED NUMBER:02993049
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The director considers 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 director acknowledges his 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 profit and loss account 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 by: 




J A Smith
Director

Date: 23 September 2024

The notes on pages 3 to 5 form part of these financial statements.

Page 2

 
HIT & RUN PRODUCTIONS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Hit & Run Production Limited is a private company, limited by shares, registered in England and Wales, registration number 02993049. The registered office address 25 Ives Street, London, SW3 2ND.
 
The principal activity of the company continued to be that of the development and production of short film and theatrical projects and the provision of management services.

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 the Financial Reporting Standards 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006.

 
2.2

Going concern

On the basis of information and enquiries that are pertinent to the company’s circumstances and which the directors believe to be adequate, it is appropriate to continue to treat the company as a gong concern. In particular the directors believe that adequate cash resources will be available to cover the company’s requirements for working capital for at least twelve months from the date of signing the financial statements.

 
2.3

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is pound 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.

Foreign exchange gains and losses that relate to borrowings and cash are presented in the profit and loss account within administration expenses. All other foreign exchange gains and losses are presented in profit or loss.

 
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 is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. 

Turnover from music productions and touring is recognised when it is probable the company will receive the rights to the consideration due under the contract.

Page 3

 
HIT & RUN PRODUCTIONS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.5

Taxation

Tax is recognised in profit or loss 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 corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment.

 
2.7

Cash

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

Financial instruments

The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as other debtors, other creditors and loans with related parties.


3.


Employees

The average monthly number of employees, including the director, during the year was 1 (2022 - 1).


4.


Debtors

As restated
2023
2022
£
£


Prepayments
31
-



5.


Cash

2023
2022
£
£

Cash at bank
160,101
161,086


Page 4

 
HIT & RUN PRODUCTIONS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Creditors: amounts falling due within one year

As restated
2023
2022
£
£

Amounts owed to connected companies
240,956
240,956

Other taxation and social security
-
35

Other creditors
1,127,290
1,127,288

Accruals
7,012
1,676

1,375,258
1,369,955



7.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



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



8.


Prior year adjustment

The balances due to other creditors of £1,365,854 had been misclassified as long-term liabilities even though the intention of the director is that they are payable on demand. As such, the prior year balance due to other creditors has now been reclassified from long term liabilities to current liabilities. 
This adjustment has no impact on retained earnings.


9.


Transactions with directors

As at the year end, the company owed £1,124,898 (2022 - £1,124,898) to the director. The loans are unsecured, interest free and repayable on demand.

 
Page 5