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REGISTERED NUMBER: 12709606 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2023

for

Astronaut Films Limited

Astronaut Films Limited (Registered number: 12709606)






Contents of the Financial Statements
for the Year Ended 31 July 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Astronaut Films Limited

Company Information
for the Year Ended 31 July 2023







DIRECTORS: J D Alwen
L J Wallace





REGISTERED OFFICE: 11 Court Lane Gardens
London
SE21 7DZ





REGISTERED NUMBER: 12709606 (England and Wales)





ACCOUNTANTS: We`ll Mind Your Own Business LTD
39 Long Acre
London
WC2E 9LG

Astronaut Films Limited (Registered number: 12709606)

Balance Sheet
31 July 2023

31.7.23 31.7.22
Notes £    £   
CURRENT ASSETS
Debtors 4 119,675 6,000
Cash at bank 47,035 47,834
166,710 53,834
CREDITORS
Amounts falling due within one year 5 166,709 51,245
NET CURRENT ASSETS 1 2,589
TOTAL ASSETS LESS CURRENT
LIABILITIES

1

2,589

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings - 2,588
1 2,589

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Astronaut Films Limited (Registered number: 12709606)

Balance Sheet - continued
31 July 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 October 2024 and were signed on its behalf by:





L J Wallace - Director


Astronaut Films Limited (Registered number: 12709606)

Notes to the Financial Statements
for the Year Ended 31 July 2023

1. STATUTORY INFORMATION

Astronaut Films Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Production Revenue
Revenue is recognised to the extent it is probable that the economic benefits will flow to the Company and the revenue can be measured reliably. Production revenue is usually recognised on delivery of the show to the customer. Overspends are recognised as soon as they arise and anticipated underspends are recognised on the completion of the programme.

Distribution Revenue
Royalty Income form 3rd party distributors is recognised on statement receipts basis as this is when the revenue is measurable. Otherwise, royalty income is recognised on an accruals basis, on receipt of information from the distributor.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


Astronaut Films Limited (Registered number: 12709606)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

2. ACCOUNTING POLICIES - continued
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.

Creditors
Short-term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at fair value, net of any transaction costs, and subsequently measured at amortised cost determined using the effective interest method.

Cost recognition
Development Costs
Development costs are generally expensed as incurred to the income statement. Where development funding has been received, the revenue is recognised on a cost-plus basis. However, if a firm commitment exists which indicates that current and future expenses will be recoverable, development costs are capitalised in the costs of a programme. These costs are capitalised in WIP as a part of a specific project expected to be set for production.

Production Costs Recognition
Productions costs are ordinarily accumulated by individual programmes in four chronological steps: acquisition of story rights; pre-production (which includes script development, costume design, set design, and construction); principal photography (which includes shooting the production); and post-production (which includes sound synchronisation and editing); culminating in the completed master negative. All costs are capitalised to Work in Progress (WIP) until the point at which the WIP balance is recognised or consumed on the income statement, generally as delivery of the episodes occurs.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 3 ) .

Astronaut Films Limited (Registered number: 12709606)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade debtors 44,434 6,000
Other debtors 92 -
Directors' current accounts 7,272 -
Prepayments and accrued income 67,877 -
119,675 6,000

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade creditors 77,032 7,918
Tax 54,953 32,344
VAT 33,524 54,771
Other creditors - (43,788 )
Accruals and deferred income 1,200 -
166,709 51,245

6. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year the directors incurred expenses and received advances on behalf of the company. At the year end the balance of £7,272 was due from the directors to the company. The balance was repaid within nine months of year-end.