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Registered number: 12511244









DOCSVILLE STUDIOS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 JUNE 2024

 
DOCSVILLE STUDIOS LIMITED
REGISTERED NUMBER: 12511244

STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2024

30 June
30 November
2024
2023
Note
£
£

  

Current assets
  

Stocks
 4 
4,908,553
4,105,207

Debtors: amounts falling due within one year
 5 
336,106
702,932

Cash at bank and in hand
 6 
18,779
64,875

  
5,263,438
4,873,014

Creditors: amounts falling due within one year
 7 
(5,679,314)
(5,093,142)

Net current liabilities
  
 
 
(415,876)
 
 
(220,128)

Total assets less current liabilities
  
(415,876)
(220,128)

  

Net liabilities
  
(415,876)
(220,128)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(415,976)
(220,228)

  
(415,876)
(220,128)


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the Period in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.
 
Page 1

 
DOCSVILLE STUDIOS LIMITED
REGISTERED NUMBER: 12511244
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 JUNE 2024


The financial statements were approved and authorised for issue by the board and were signed on its behalf on 7 October 2024.



L Jones
Director

The notes on pages 3 to 5 form part of these financial statements.

Page 2

 
DOCSVILLE STUDIOS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

1.


General information

Docsville Studios Limited is a private company limited by shares and registered in England & Wales. The address of its registered office and principal place of business is Unit 67 124-128 Barlby Rd, London, W10 6BL.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

At the reporting date the company had net liabilities of £415,876 and is dependent on the support of its directors who has confirmed his intention to support the company. As a result the director believe it is appropriate to prepare the accounts on the going concern basis. The financial  statements  do  not  include  adjustments  that would result from the withdrawal of this financial support.

 
2.3

Revenue

Revenue comprises licence fees receivable in respect of the feature length documentaries produced by the company and is recognised in the Statement of Income and Retained Earnings in the period the relevant documetary is delivered.
Where revenue received exceeds costs incurred to date and profits are not anticipated, the balance is treated as deferred income and held on the Statement of Financial Position until further costs are incurred or profits anticipated. At this point the deferred income is released to the Statement of Income and Retained Earnings.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the Period in which they are incurred.

Page 3

 
DOCSVILLE STUDIOS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.7

Taxation

Tax is recognised in the Statement of Income and Retained Earnings. 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 income.
The Company is eligible to claim a tax credit on film production costs; the tax credit comprises relief based on total net costs and an additional deduction for enhanceable expenditure. The Company claims a payment based on the amount of enhanced expenditure and carries losses arising from total net costs forward against future profits.

 
2.8

Stocks

Stocks comprise film production costs, which are recorded as a current asset. Film production costs are amortised to the Statement of Income and Retained Earnings over the period in which rights to the relevant production are being exploited by the Company.

 
2.9

Debtors

Short term debtors are measured at the transaction price, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.11

Creditors

Short term creditors are measured at the transaction price, less any impairment.


3.


Employees




The average monthly number of employees, including directors, during the Period was 4 (2023 - 4).


4.


Stocks

30 June
30 November
2024
2023
£
£

Production cost
4,908,553
4,105,207

4,908,553
4,105,207


Page 4

 
DOCSVILLE STUDIOS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

5.


Debtors

30 June
30 November
2024
2023
£
£


Other debtors
336,106
702,932

336,106
702,932



6.


Cash and cash equivalents

30 June
30 November
2024
2023
£
£

Cash at bank and in hand
18,779
64,875

Less: bank overdrafts
(9,833)
(74)

8,946
64,801



7.


Creditors: Amounts falling due within one year

30 June
30 November
2024
2023
£
£

Bank overdrafts
9,833
74

Trade creditors
-
26,757

Other taxation and social security
291,527
259,183

Other creditors
1,932,793
1,647,035

Accruals and deferred income
3,445,161
3,160,093

5,679,314
5,093,142


Creditors includes amounts secured by a fixed and floating charge over the assets of the company.


8.


Controlling party

There was no ultimate controlling party throughout the period.
 
Page 5