True to Nature W Limited 14022427 false 2023-06-01 2024-05-31 2024-05-31 The principal activity of the company is Television programme production activities Digita Accounts Production Advanced 6.30.9574.0 true true true 14022427 2023-06-01 2024-05-31 14022427 2024-05-31 14022427 2 2024-05-31 14022427 core:CurrentFinancialInstruments 2024-05-31 14022427 core:CurrentFinancialInstruments core:WithinOneYear 2024-05-31 14022427 bus:SmallEntities 2023-06-01 2024-05-31 14022427 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 14022427 bus:FilletedAccounts 2023-06-01 2024-05-31 14022427 bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 14022427 bus:RegisteredOffice 2023-06-01 2024-05-31 14022427 bus:Director2 2023-06-01 2024-05-31 14022427 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 14022427 1 2023-06-01 2024-05-31 14022427 countries:EnglandWales 2023-06-01 2024-05-31 14022427 2022-04-04 2023-05-31 14022427 2023-05-31 14022427 core:CurrentFinancialInstruments 2023-05-31 14022427 core:CurrentFinancialInstruments core:WithinOneYear 2023-05-31 14022427 core:CurrentFinancialInstruments core:WithinOneYear core:CumulativeEffectDateInitialApplicationIncreaseDecrease 2023-05-31 14022427 core:CumulativeEffectDateInitialApplicationIncreaseDecrease 2023-05-31 14022427 core:CumulativeEffectDateInitialApplicationIncreaseDecrease 2 2023-05-31 iso4217:GBP xbrli:pure

Registration number: 14022427

True to Nature W Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 May 2024

 

True to Nature W Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 6

 

True to Nature W Limited

(Registration number: 14022427)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Current assets

 

Debtors

4

224,230

539,450

Cash at bank and in hand

 

469,611

446,209

 

693,841

985,659

Creditors: Amounts falling due within one year

5

(649,804)

(665,118)

Net assets

 

44,037

320,541

Capital and reserves

 

Called up share capital

2

2

Retained earnings

44,035

320,539

Shareholders' funds

 

44,037

320,541

For the financial year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small 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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 3 October 2024 and signed on its behalf by:
 

S A Batty
Director

   
     
 

True to Nature W Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

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:
16 The Furlong
Bristol
BS6 7TF

These financial statements were authorised for issue by the Board on 3 October 2024.

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 periods 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 that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the company, and rounded to the nearest £.

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company will have adequate resources to continue as a going concern. The directors are committed to ensure that the company is able to meet its liabilities on a day to day basis and the parent company has pledged to provide financial support to enable the company to meet its liabilities. Therefore, the financial statements have been prepared on a going concern basis.

 

True to Nature W Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Revenue recognition

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 net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
the amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
the stage of completion of the transaction at the end of the reporting period can be measured reliably;
and specific criteria have been met for each of the company's activities.

Revenue from contracts for film and television production services is recognised using the percentage of completion method. The stage of completion is determined by reference to the costs incurred to date as a proportion of the estimated total costs of completing the contract.

Where the contract outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable.

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 tax. Tax is recognised in profit or loss, except that a change 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.

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.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

True to Nature W Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Work in progress

The cost of work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the work in progress to their present condition. At each reporting date, work in progress is assessed for impairment. If work in progress is impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year was 2 (2023 - 2).

 

True to Nature W Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

4

Debtors

Note

2024
£

2023
£

Trade debtors

 

-

20,280

Other debtors

 

1,351

-

Accrued income

 

-

189,950

Corporation tax asset

222,879

329,220

 

224,230

539,450

5

Creditors

Due within one year

Note

2024
£

2023
£

 

Loans and borrowings

6

-

5,643

Trade creditors

 

-

110,170

Amounts due to related parties

7

153,712

103,677

Social security and other taxes

 

-

16,596

Other creditors

 

490,467

421,044

Accruals

 

5,625

4,730

Deferred income

 

-

3,258

 

649,804

665,118

6

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank overdrafts

-

5,643

7

Related party transactions

The company has taken advantage of the exemption available under section 1AC.35 of Financial Reporting Standard 102, not to disclose transactions with other wholly owned members of this group.

 

True to Nature W Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

8

Parent and ultimate parent undertaking

The company's immediate parent is True to Nature Limited, incorporated in England and Wales.

  These financial statements are available upon request from 16 The Furlong, Henleaze, Bristol, United Kingdom, BS6 7TF