REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
TWO CITIES 1984 LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
TWO CITIES 1984 LIMITED |
TWO CITIES 1984 LIMITED (REGISTERED NUMBER: 13175607) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
Page |
Balance Sheet | 1 |
Notes to the Financial Statements | 2 |
TWO CITIES 1984 LIMITED (REGISTERED NUMBER: 13175607) |
BALANCE SHEET |
31 DECEMBER 2023 |
2023 | 2022 |
Notes | £ | £ |
CURRENT ASSETS |
Work in progress |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CAPITAL AND RESERVES |
Called up share capital | 7 |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' DEFICIT | ( |
) | ( |
) |
The director acknowledges his responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
TWO CITIES 1984 LIMITED (REGISTERED NUMBER: 13175607) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
1. | STATUTORY INFORMATION |
Two Cities 1984 Limited is a |
Registered number: |
Registered office: |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparation |
The accounts are prepared in sterling, which is the functional currency of the company. |
Going concern |
As at 31 December 2023 the company had net current liabilities and net liabilities of £4,580. After considering all factors, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. |
Related party exemption |
The company has taken advantage of the exemption, under the terms of FRS 102 Section 33, not to disclose related party transactions with wholly owned subsidiaries within the group. |
Work in progress |
Work in progress relates to direct production costs, net of tax credits, subsidies and grants, incurred on projects / productions not delivered during the period. Such project / production costs are recognised in the Statement of Income and Retained Earnings as soon as the programme is delivered and the related production revenue is recognised. |
Expenditure on development projects is written off in the year in which it is incurred unless there is reasonable expectation that costs will be recovered in future periods. |
Work in progress is valued at the lower of cost and net realisable value. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
TWO CITIES 1984 LIMITED (REGISTERED NUMBER: 13175607) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
4. | EMPLOYEES |
The average number of employees during the year was NIL (2022 - NIL). |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Amounts owed by group undertakings |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Other creditors |
7. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | £1 | 1 | 1 |
8. | POST BALANCE SHEET EVENTS |
On 30 January 2024, STV Studios Limited increased its 25% equity stake in the company's immediate parent undertaking, Two Cities Television Limited. This resulted in a majority holding of 51% of Two Cities Television Limited and its subsidiaries, which includes the company. |
9. | CONTROLLING PARTIES |
At the balance sheet date, the immediate and ultimate parent undertaking is company registered in England and Wales. |
Following the share acquisition as detailed in note 8, the ultimate parent undertaking is now |