CF Productions Limited 07386914 true 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is as a dormant company. Digita Accounts Production Advanced 6.30.9574.0 true true 07386914 2023-01-01 2023-12-31 07386914 2023-12-31 07386914 core:RetainedEarningsAccumulatedLosses 2023-12-31 07386914 core:ShareCapital 2023-12-31 07386914 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 07386914 bus:SmallEntities 2023-01-01 2023-12-31 07386914 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 07386914 bus:FullAccounts 2023-01-01 2023-12-31 07386914 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 07386914 bus:RegisteredOffice 2023-01-01 2023-12-31 07386914 bus:Director1 2023-01-01 2023-12-31 07386914 bus:Director2 2023-01-01 2023-12-31 07386914 bus:EntityNoLongerTradingButTradedInPast 2023-01-01 2023-12-31 07386914 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 07386914 bus:Agent1 2023-01-01 2023-12-31 07386914 countries:EnglandWales 2023-01-01 2023-12-31 07386914 2022-01-01 2022-12-31 07386914 2022-12-31 07386914 core:RetainedEarningsAccumulatedLosses 2022-12-31 07386914 core:ShareCapital 2022-12-31 07386914 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 iso4217:GBP xbrli:pure

Registration number: 07386914

Prepared for the registrar

CF Productions Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2023

 

CF Productions Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

CF Productions Limited

Company Information

Directors

D C Hall

Dr D R W Hill

Registered office

34 Imperial Square
Cheltenham
GL50 1QZ

Solicitors

Willans LLP
34 Imperial Square
Cheltenham
GL50 1QZ

Bankers

HSBC Bank PLC
2 The Promenade
Cheltenham
GL50 1LR

Accountants

Hazlewoods LLP
Windsor House
Bayshill Road
Cheltenham
GL50 3AT

 

CF Productions Limited

(Registration number: 07386914)
Balance Sheet as at 31 December 2023

Note

2023
 £

2022
 £

Current assets

 

Debtors

4

1

1

Creditors: Amounts falling due within one year

5

2,585

2,585

Net assets

 

2,586

2,586

Capital and reserves

 

Called up share capital

1

1

Profit and loss account

2,585

2,585

Total equity

 

2,586

2,586

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 20 September 2024 and signed on its behalf by:
 


Dr D R W Hill
Director

 

CF Productions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

 

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
34 Imperial Square
Cheltenham
GL50 1QZ

 

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Name of parent of group

These financial statements are consolidated in the financial statements of Cheltenham Festivals.

The financial statements of Cheltenham Festivals may be obtained from the company's registered office.

Going concern

After reviewing the company's forecasts and projections, 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.

Judgements and estimation uncertainty

These financial statements do not contain any significant judgements or estimation uncertainty.

Revenue recognition

Sale of goods
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company's activities. Turnover is shown new of sales/value added tax, returns, rebates and discounts and after eliminating sales within the company.

Rendering of services
Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. When the outcome of a transaction for the rendering of services can be estimated reliably in terms of revenue, costs and its stage of completion, the company recognises revenue on the sales of services in the reporting period in which the services are rendered by reference to the stage of completion of the specific transaction at the end of the reporting period.. The stage of completion is determined on the basis of the actual completion of a proportion of the total services to be rendered. When the outcome of a service contract cannot be estimated reliably the company only recognises revenue to the extent of the recoverable expenses recognised.

 

CF Productions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Tax

The tax expense for the period comprises current tax. Tax is recognised in the profit and loss account, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current 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 taxable income.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Financial instruments


Classification
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade and other receivables and payables, loans from related parties and investments in non puttable ordinary shares.

Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet, The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.

Debt instruments like loans and other receivables and payables are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms of financed at a rate of interest that is not a market rate or in case of an outright short-term loan not at market rate, the financial asset or liability is measured, initially and subsequently, at the present value of future payments discounted at a market rate of interest for a similar debt instrument.


 Recognition and measurement
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss. For financial assets measured at amortised cost, the impairment loss is measured as the difference between assets carrying value and the present value of estimated cash flows discounted at the assets original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract. For financial assets measured at cost less impairment, the impairment loss is measured as the difference between assets carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount recognised in the statement of financial position when there is an 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.


 Impairment
At each reporting date non-financial assets not carried at fair value, such as property, plant and equipment are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets, which is the higher of value in use and the fair value less costs to sell, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit or loss.

 

CF Productions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was as follows:

2023
 £

2022
 £

Due within one year

Corporation tax liability

(2,585)

(2,585)

 

6

Control

The company's immediate and ultimate parent is Cheltenham Festivals, incorporated in England and Wales.