Harbinger Productions Ltd
Unaudited Financial Statements
For the year ended 30 June 2023
Pages for Filing with Registrar
Company Registration No. 09627669 (England and Wales)
Harbinger Productions Ltd
Company Information
Directors
F McCallum
G McCallum
Company number
09627669
Registered office
Charlotte Building
17 Gresse Street
London
W1T 1QL
Accountants
Moore Kingston Smith LLP
17 Gresse Street
London
W1T 1QL
Harbinger Productions Ltd
Contents
Page
Balance sheet
1
Notes to the financial statements
3 - 7
Harbinger Productions Ltd
Balance Sheet
As at 30 June 2023
Page 1
2023
2022
Notes
£
£
£
£
Fixed assets
Investments
5
1
1
Current assets
Debtors
7
91,893
410,788
Investments
8
20,583
50,000
Cash at bank and in hand
128,012
184,419
240,488
645,207
Creditors: amounts falling due within one year
9
(38,908)
(504,799)
Net current assets
201,580
140,408
Net assets
201,581
140,409
Capital and reserves
Called up share capital
10
3
3
Profit and loss reserves
201,578
140,406
Total equity
201,581
140,409

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 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 by the board of directors and authorised for issue on 23 September 2024 and are signed on its behalf by:
G McCallum
Director
Company Registration No. 09627669
Harbinger Productions Ltd
Statement of Changes in Equity
For the year ended 30 June 2023
Page 2
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 July 2021
3
95,189
95,192
Year ended 30 June 2022:
Profit and total comprehensive income for the year
-
45,217
45,217
Balance at 30 June 2022
3
140,406
140,409
Year ended 30 June 2023:
Profit and total comprehensive income for the year
-
61,172
61,172
Balance at 30 June 2023
3
201,578
201,581
Harbinger Productions Ltd
Notes to the Financial Statements
For the year ended 30 June 2023
Page 3
1
Accounting policies
Company information

Harbinger Productions Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Charlotte Building, 17 Gresse Street, London, 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 £.

1.2
Going concern

At the balance sheet date, the company made a profit for the period of £47,233 (2022: £45,217) and had net assets at that date of £187,642 (2022: £140,409).

 

The directors have prepared cashflow forecasts for a period of 12 months from the date of signing the financial statements. The forecasts indicate the company has sufficient cash available to meet its liabilities as they fall due for a period of at least 12 months from the date of signing the financial statements. On this basis the financial statements have been prepared on a going concern basis.

1.3
Turnover

Turnover represents return on investments in theatrical productions made in the normal course of business, and is shown net of VAT and other sales related taxes. Turnover is recognised on a receipts basis as the company has no control over or information about its entitlement to production profits until such amounts are received.

1.4
Fixed asset investments

Represents membership capital invested in a limited liability partnership. Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.5
Current asset investment
Current asset investments represent monies invested in theatrical productions and which are repayable out of profits generated by these productions. Such investments are measured at cost less provision for impairment as fair value cannot be reliably estimated.
Harbinger Productions Ltd
Notes to the Financial Statements (Continued)
For the year ended 30 June 2023
1
Accounting policies
(Continued)
Page 4
1.6
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.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.8
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.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

Harbinger Productions Ltd
Notes to the Financial Statements (Continued)
For the year ended 30 June 2023
1
Accounting policies
(Continued)
Page 5
1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.10
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 period was: 2 (2022: 3).

 

Key management personnel include all directors of the company who together have authority and responsibility for planning, directing and controlling the activities of the company.

 

3
Taxation
2023
2022
£
£
Current tax
UK corporation tax on profits for the current period
15,770
10,563
Harbinger Productions Ltd
Notes to the Financial Statements (Continued)
For the year ended 30 June 2023
Page 6
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 July 2022 and 30 June 2023
1,024
Depreciation and impairment
At 1 July 2022 and 30 June 2023
1,024
Carrying amount
At 30 June 2023
-
0
At 30 June 2022
-
0
5
Fixed asset investments
2023
2022
£
£
Other investments other than loans
1
1
6
Financial instruments
2023
2022
£
£
Carrying amount of financial assets
Instruments measured at fair value through profit or loss
20,583
50,000
7
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
91,893
410,572
Prepayments and accrued income
-
0
216
91,893
410,788
8
Current asset investments
2023
2022
£
£
Other investments
20,583
50,000
Harbinger Productions Ltd
Notes to the Financial Statements (Continued)
For the year ended 30 June 2023
Page 7
9
Creditors: amounts falling due within one year
2023
2022
£
£
Amounts owed to group undertakings
3,413
438,018
Corporation tax
15,770
10,563
Other creditors
12,750
51,808
Accruals and deferred income
6,975
4,410
38,908
504,799
10
Called up share capital
2023
2022
£
£
Ordinary share capital
Issued and fully paid
2 Class A Ordinary Share of £1 each
2
2
1 Class B Ordinary Share of £1 each
1
1
3
3
11
Related party transactions

Martin McCallum Pty Ltd

A company in which M McCallum is a shareholder.

 

During the period, the company repaid £434,605 (2022: £80,000) to Martin McCallum Pty Ltd.

 

As at the balance sheet date the company owed Martin McCallum Pty Ltd £3,413 (2022: £438,018).

 

M McCallum

M McCallum has significant influence over the company and is a member of the key management personnel of Harbinger Productions Ltd.

 

At the year end date the company owed M McCallum £12,750 (2022: £1,808).

12
Parent company

The company's immediate parent company is regarded by the directors as being Martin McCallum Pty Ltd, a company incorporated in New South Wales, Australia.

 

The ultimate controlling party is M McCallum, by the virtue of his share ownership in Martin McCallum Pty Ltd.

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