Great Company Entertainment Limited 12952670 false 2022-11-01 2023-10-31 2023-10-31 The principal activity of the company is that of the production of television programmes. Digita Accounts Production Advanced 6.30.9574.0 true true 12952670 2022-11-01 2023-10-31 12952670 2023-10-31 12952670 core:CurrentFinancialInstruments 2023-10-31 12952670 core:CurrentFinancialInstruments core:WithinOneYear 2023-10-31 12952670 core:FurnitureFittingsToolsEquipment 2023-10-31 12952670 core:MotorVehicles 2023-10-31 12952670 bus:SmallEntities 2022-11-01 2023-10-31 12952670 bus:AuditExemptWithAccountantsReport 2022-11-01 2023-10-31 12952670 bus:FilletedAccounts 2022-11-01 2023-10-31 12952670 bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 12952670 bus:RegisteredOffice 2022-11-01 2023-10-31 12952670 bus:Director2 2022-11-01 2023-10-31 12952670 bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 12952670 core:FurnitureFittings 2022-11-01 2023-10-31 12952670 core:FurnitureFittingsToolsEquipment 2022-11-01 2023-10-31 12952670 core:MotorVehicles 2022-11-01 2023-10-31 12952670 core:Vehicles 2022-11-01 2023-10-31 12952670 countries:EnglandWales 2022-11-01 2023-10-31 12952670 2022-10-31 12952670 core:FurnitureFittingsToolsEquipment 2022-10-31 12952670 core:MotorVehicles 2022-10-31 12952670 2021-11-01 2022-10-31 12952670 2022-10-31 12952670 core:CurrentFinancialInstruments 2022-10-31 12952670 core:CurrentFinancialInstruments core:WithinOneYear 2022-10-31 12952670 core:FurnitureFittingsToolsEquipment 2022-10-31 12952670 core:MotorVehicles 2022-10-31 iso4217:GBP xbrli:pure

Great Company Entertainment Limited

Unaudited Financial Statements

for the Year Ended 31 October 2023

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

Great Company Entertainment Limited

Contents

Company Information

1

Statement of Financial Position

2

Notes to the Unaudited Financial Statements

3 to 6

 

Great Company Entertainment Limited

Company Information

Director

K N L Wilson-Cairns

Registered office

130 Shaftesbury Avenue
2nd Floor
London
W1D 5EU

Accountants

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

Great Company Entertainment Limited

Statement of Financial Position as at 31 October 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

6,838

9,695

Current assets

 

Debtors

5

15,969

29,227

Cash at bank and in hand

 

163,076

97,021

 

179,045

126,248

Creditors: Amounts falling due within one year

6

(58,979)

(221,838)

Net current assets/(liabilities)

 

120,066

(95,590)

Net assets/(liabilities)

 

126,904

(85,895)

Capital and reserves

 

Called up share capital

100

100

Retained earnings

126,804

(85,995)

Shareholders' funds/(deficit)

 

126,904

(85,895)

For the financial year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges her 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 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

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 Statement of Income and Retained Earnings has been taken.

Approved and authorised by the director on 16 September 2024
 

.........................................

K N L Wilson-Cairns

Director

Company registration number: 12952670

 

Great Company Entertainment Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 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:
130 Shaftesbury Avenue
2nd Floor
London
W1D 5EU

The principal activity of the company is that of the production of television programmes.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Summary of significant accounting policies

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.

Going concern

The company made a profit for the year ended 31 October 2023 and had net assets at that date amounting to £126,904.

The director has considered the potential effect of the recently ended writers and actors strike in the USA and, although there is no certainty as to when the effects will end, the director's view is that the industry is recovering and the company's service will remain in demand.

On the basis of the above, and after making enquiries, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the director continues to adopt the going concern basis in preparing the financial statements.

Revenue recognition

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

The company recognises turnover from the production and distribution of television programs based on the contractual stage of completion.

 

Great Company Entertainment Limited

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

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, 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 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 taxable income.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures, fittings and equipment

25% Straight line

Bicycles

100% Straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Great Company Entertainment Limited

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

3

Staff numbers

The average number of persons employed by the company during the year, was 2 (2022 - 3).

4

Tangible assets

Furniture, fittings and equipment
 £

Bicycles
 £

Total
£

Cost or valuation

At 1 November 2022

11,002

4,304

15,306

Additions

3,161

-

3,161

Disposals

-

(4,304)

(4,304)

At 31 October 2023

14,163

-

14,163

Depreciation

At 1 November 2022

4,424

1,187

5,611

Charge for the year

2,901

(1,187)

1,714

At 31 October 2023

7,325

-

7,325

Carrying amount

At 31 October 2023

6,838

-

6,838

At 31 October 2022

6,578

3,117

9,695

5

Debtors

2023
£

2022
£

Other debtors

15,969

29,227

15,969

29,227

 

Great Company Entertainment Limited

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

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Trade creditors

8,296

1,411

Taxation and social security

38,395

6,289

Accruals and deferred income

12,000

17,000

Other creditors

288

197,138

58,979

221,838

7

Financial commitments, guarantees and contingencies

Amounts not provided for in the statement of financial position

The total amount of financial commitments not included in the statement of financial position is £41,475 (2022 - £Nil).

8

Transactions with directors

At 31 October 2023 an amount of £314 (2022: £13,665) was due from the director. During the year there were repayments of £13,800 and advances of £241. Interest of £208 (2022: £212) is due to the company at 2% per annum. There are no set terms.