Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312023-04-01falsePrincipal activity610truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 08741246 2023-04-01 2024-03-31 08741246 2022-04-01 2023-03-31 08741246 2024-03-31 08741246 2023-03-31 08741246 2022-04-01 08741246 c:Director2 2023-04-01 2024-03-31 08741246 d:PlantMachinery 2023-04-01 2024-03-31 08741246 d:PlantMachinery 2024-03-31 08741246 d:PlantMachinery 2023-03-31 08741246 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 08741246 d:OfficeEquipment 2023-04-01 2024-03-31 08741246 d:OfficeEquipment 2024-03-31 08741246 d:OfficeEquipment 2023-03-31 08741246 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 08741246 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 08741246 d:CurrentFinancialInstruments 2024-03-31 08741246 d:CurrentFinancialInstruments 2023-03-31 08741246 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 08741246 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 08741246 d:ShareCapital 2024-03-31 08741246 d:ShareCapital 2023-03-31 08741246 d:RetainedEarningsAccumulatedLosses 2024-03-31 08741246 d:RetainedEarningsAccumulatedLosses 2023-03-31 08741246 c:OrdinaryShareClass1 2023-04-01 2024-03-31 08741246 c:OrdinaryShareClass1 2024-03-31 08741246 c:FRS102 2023-04-01 2024-03-31 08741246 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 08741246 c:FullAccounts 2023-04-01 2024-03-31 08741246 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 08741246 d:WithinOneYear 2024-03-31 08741246 d:WithinOneYear 2023-03-31 08741246 d:BetweenOneFiveYears 2024-03-31 08741246 d:BetweenOneFiveYears 2023-03-31 08741246 d:AcceleratedTaxDepreciationDeferredTax 2024-03-31 08741246 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 08741246 e:PoundSterling 2023-04-01 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 08741246














SWAN FILMS LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED  31 MARCH 2024

 
SWAN FILMS LIMITED
 

CONTENTS



Page
Statement of financial position
 
1 - 2
Notes to the financial statements
 
3 - 8


 
SWAN FILMS LIMITED
REGISTERED NUMBER:08741246

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
10,086
14,047

Current assets
  

Debtors: amounts falling due within one year
 5 
133,989
29,213

Cash at bank and in hand
  
272,278
583,285

  
406,267
612,498

Current liabilities
  

Creditors: amounts falling due within one year
 6 
(388,323)
(430,315)

Net current assets
  
 
 
17,944
 
 
182,183

Total assets less current liabilities
  
28,030
196,230

Provisions for liabilities
  

Deferred tax
 7 
(2,522)
(3,512)

  
 
 
(2,522)
 
 
(3,512)

Net assets
  
25,508
192,718


Capital and reserves
  

Called up share capital 
 8 
100
100

Profit and loss account
  
25,408
192,618

  
25,508
192,718


Page 1

 
SWAN FILMS LIMITED
REGISTERED NUMBER:08741246
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024

The directors consider 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 year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their 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 comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 3 October 2024.




J W Evans
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
SWAN FILMS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Swan Films Limited is a private limited liability company registered in England and Wales. Its registered office address is at 5 Elstree Gate, Elstree Way, Borehamwood, Hertfordshire WD6 1JD. Its business address is at Studio 91, Hackney Down Studios, Amhurst Terrace, London, E8 2BT.
The principal activity of the company during the year was that of creation of content for broadcast media.
The company's functional and presentational currency is £ sterling.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover represents amounts receivable in respect of television productions, distribution income and royalties net of Value Added Tax.
Turnover from production and development is recorded as the contract activity progresses to reflect the proportion of work carried out during the year.
Non-refundable distribution advances are recognised on receipt. All other distribution income is recognised over the period of the agreement. 
Royalties are recognised on an accrual basis.

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Page 3

 
SWAN FILMS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.3
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
20%
Office equipment
-
33%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.4

Basic financial instruments

The company only enters into transactions that result in the recognition of basic financial assets and basic financial liabilities.
Basic financial assets, such as trade and other debtors, are initially recognised at the transaction price less attributable transaction costs. Basic financial liabilities, such as trade and other creditors, are initially recognised at the transaction price plus attributable transaction costs. Subsequently, they are measured at amortised cost using the effective interest method, less any impairment losses on the case of basic financial assets.
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the assets to an unrelated third party without imposing additional restrictions.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

 
2.5

Dividends

Equity dividends are recognised when they become legally payable.

 
2.6

Operating leases: the company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Page 4

 
SWAN FILMS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.7

Pensions

The company contributes to a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.
The contributions are recognised as an expense in the Statement of comprehensive income when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the company in independently administered funds.

 
2.8

Current and deferred taxation

Tax is recognised in the Statement of Comprehensive Income, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the Statement of Financial Position date.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Statement of Financial Position date, except that:
1) The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
2) Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the Statement of Financial Position date.


3.


Employees

The average monthly number of employees, including directors, during the year was 6 (2023 - 10).

Page 5

 
SWAN FILMS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Tangible fixed assets





Plant and machinery
Office equipment
Total

£
£
£



Cost


At 1 April 2023
40,394
34,176
74,570


Additions
-
2,112
2,112


Disposals
-
(15,932)
(15,932)



At 31 March 2024

40,394
20,356
60,750



Depreciation


At 1 April 2023
30,852
29,671
60,523


Charge for the year on owned assets
3,768
1,705
5,473


Disposals
-
(15,332)
(15,332)



At 31 March 2024

34,620
16,044
50,664



Net book value



At 31 March 2024
5,774
4,312
10,086



At 31 March 2023
9,542
4,505
14,047

Page 6

 
SWAN FILMS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Debtors

2024
2023
£
£


Trade debtors
100,366
12,330

Other debtors
14,366
8,505

Prepayments and accrued income
8,288
8,378

Tax recoverable
10,969
-

133,989
29,213



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
2,542
9,987

Other taxation and social security
61,749
108,068

Other creditors
16,917
17,252

Accruals and deferred income
307,115
295,008

388,323
430,315



7.


Deferred taxation




2024
2023


£

£






At beginning of year
3,512
1,171


Charged to profit or loss
(990)
2,341



At end of year
2,522
3,512

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
2,522
3,512

Page 7

 
SWAN FILMS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 Ordinary shares of £1 each
100
100



9.


Pension commitments

The company contributes to a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £13,277 (2023 - £11,410). Contributions totalling £nil (2022 - £nil) were payable to the fund at the reporting date and are included in creditors.


10.


Commitments under operating leases

At 31 March 2024 the company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
29,610
36,180

Later than 1 year and not later than 5 years
6,750
9,360

36,360
45,540

 
Page 8