Red Hanger Productions UK Limited
Unaudited Financial Statements
For the year ended 31 December 2023
Pages for Filing with Registrar
Company Registration No. 11694151 (England and Wales)
Red Hanger Productions UK Limited
Company Information
Director
Richard Winkler
Company number
11694151
Registered office
6th Floor Charlotte Building
17 Gresse Street
London
W1T 1QL
Accountants
Moore Kingston Smith LLP
Charlotte Building
17 Gresse Street
London
W1T 1QL
Red Hanger Productions UK Limited
Contents
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 5
Red Hanger Productions UK Limited
Balance Sheet
As at 31 December 2023
Page 1
2023
2022
Notes
£
£
£
£
Fixed assets
Investments
3
631,160
243,227
Current assets
Cash at bank and in hand
138,671
216,829
Creditors: amounts falling due within one year
4
(1,053,117)
(728,402)
Net current liabilities
(914,446)
(511,573)
Net liabilities
(283,286)
(268,346)
Capital and reserves
Called up share capital
5
1
1
Profit and loss reserves
(283,287)
(268,347)
Total equity
(283,286)
(268,346)
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 24 September 2024
Richard Winkler
Director
Company Registration No. 11694151
Red Hanger Productions UK Limited
Statement of Changes in Equity
For the year ended 31 December 2023
Page 2
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 January 2022
1
(248,384)
(248,383)
Year ended 31 December 2022:
Loss and total comprehensive income for the year
-
(19,963)
(19,963)
Balance at 31 December 2022
1
(268,347)
(268,346)
Year ended 31 December 2023:
Loss and total comprehensive income for the year
-
(14,940)
(14,940)
Balance at 31 December 2023
1
(283,287)
(283,286)
Red Hanger Productions UK Limited
Notes to the Financial Statements
For the year ended 31 December 2023
Page 3
1
Accounting policies
Company information
Red Hanger Productions UK Limited is a private company limited by shares incorporated in England and Wales. The registered office is 6th Floor Charlotte Building, 17 Gresse Street, London, United Kingdom, W1T 1QL.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
Atruet the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.
The company is supported in its trade by loans from the director. The director has confirmed his continuing support of the company for a period of not less than 12 months from the date of signing these financial statements.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
Distributions from theatrical productions are recognised once they can be reliably determined, usually once a statement has been received from a third party. This is consistent with industry practice.
Red Hanger Productions UK Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2023
1
Accounting policies
(Continued)
Page 4
1.4
Fixed asset investments
Investment in theatrical productions consist of non-recourse loans advanced to a production which are repayable out of the profit of the production. These investments are initially measured at fair value which is normally the transaction price. In general fair values subsequent to initial investment cannot be measured reliably so investments in theatrical productions are subsequently measured at cost less impairment.
The company reviews the carrying amounts of its investments at each reporting period end date to determine whether there is any indication that those investments have suffered an impairment loss. If any such indication exists, the recoverable amount of the investment is estimated in order to determine the extent of the impairment loss (if any). Recoverable amount is the higher of fair value less costs to sell and value in use and in practice will generally equate to the amount of the loan which is expected to be repaid by the production.
Impairment losses are recognised immediately in profit or loss. Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses the carrying amount of the ivestment is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset. A reversal of the impairment loss is recognised immediately in profit or loss.
1.5
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.6
Financial instruments
The company has only basic financial instruments measured at amortised cost, with no financial instruments classified as other, or basic financial instruments measured at fair value.
1.7
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.8
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
1
1
Red Hanger Productions UK Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2023
Page 5
3
Fixed asset investments
2023
2022
£
£
Investments
28,348
12,500
Loans
602,812
230,727
631,160
243,227
4
Creditors: amounts falling due within one year
2023
2022
£
£
Other creditors
1,048,917
724,682
Accruals and deferred income
4,200
3,720
1,053,117
728,402
5
Called up share capital
2023
2022
£
£
Ordinary share capital
Issued and fully paid
1 Ordinary share of £1
1
1
1
1
6
Controlling party
The company is controlled by director Richard Winkler by virtue of his 100% shareholding.
7
Directors' transactions
During the period the director loaned the company £371,735 (2022: £148,200) and was repaid £nil (2022: £nil). At the year end the company owed the director £1,048,917 (2022: £677,182).