0
false
false
false
false
false
false
false
false
false
false
true
false
false
false
false
false
false
No description of principal activity
2023-01-01
Sage Accounts Production Advanced 2023 - FRS102_2023
80
80
80
xbrli:pure
xbrli:shares
iso4217:GBP
NI071206
2023-01-01
2023-12-31
NI071206
2023-12-31
NI071206
2022-12-31
NI071206
2022-01-01
2022-12-31
NI071206
2022-12-31
NI071206
2021-12-31
NI071206
bus:Director1
2023-01-01
2023-12-31
NI071206
core:WithinOneYear
2023-12-31
NI071206
core:WithinOneYear
2022-12-31
NI071206
core:ShareCapital
2023-12-31
NI071206
core:ShareCapital
2022-12-31
NI071206
core:RetainedEarningsAccumulatedLosses
2023-12-31
NI071206
core:RetainedEarningsAccumulatedLosses
2022-12-31
NI071206
core:CostValuation
core:Non-currentFinancialInstruments
2023-12-31
NI071206
core:Non-currentFinancialInstruments
2023-12-31
NI071206
core:Non-currentFinancialInstruments
2022-12-31
NI071206
bus:SmallEntities
2023-01-01
2023-12-31
NI071206
bus:AuditExempt-NoAccountantsReport
2023-01-01
2023-12-31
NI071206
bus:SmallCompaniesRegimeForAccounts
2023-01-01
2023-12-31
NI071206
bus:PrivateLimitedCompanyLtd
2023-01-01
2023-12-31
NI071206
bus:FullAccounts
2023-01-01
2023-12-31
COMPANY REGISTRATION NUMBER:
NI071206
Filleted Unaudited Financial Statements |
|
Statement of Financial Position |
|
31 December 2023
Fixed assets
Current assets
Debtors |
5 |
46,213 |
109,507 |
Cash at bank and in hand |
202,469 |
77,299 |
|
--------- |
--------- |
|
248,682 |
186,806 |
|
|
|
|
Creditors: amounts falling due within one year |
6 |
(
2,927,313) |
(
2,975,896) |
|
------------ |
------------ |
Net current liabilities |
(
2,678,631) |
(
2,789,090) |
|
------------ |
------------ |
Total assets less current liabilities |
(
2,678,551) |
(
2,789,010) |
|
------------ |
------------ |
Net liabilities |
(
2,678,551) |
(
2,789,010) |
|
------------ |
------------ |
|
|
|
|
Capital and reserves
Called up share capital |
100 |
100 |
Profit and loss account |
(
2,678,651) |
(
2,789,110) |
|
------------ |
------------ |
Shareholders deficit |
(
2,678,551) |
(
2,789,010) |
|
------------ |
------------ |
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
Statement of Financial Position (continued) |
|
31 December 2023
These financial statements were approved by the
board of directors
and authorised for issue on
26 September 2024
, and are signed on behalf of the board by:
Company registration number:
NI071206
Notes to the Financial Statements |
|
Year ended 31 December 2023
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit B, Ormeau Avenue, Belfast, BT2 8HD, Northern Ireland.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The company is dependent on financial support and to this end has received a letter of support from N D Hutchinson, the owner of the company and its ultimate parent entity, who will continue to support the company for a period of 12 months from the date of signing these financial statements. On this basis, the directors continue to prepare the accounts on a going concern basis.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Revenue on television media production is recognised in line with the stage of completion of the underlying production. Stage of completion is defined by the proportion of the production costs incurred, on an accruals basis. Income from royalties is recognised when it is virtually assured that the revenue will be received and can be reliably measured in accordance with the substance of the relevant agreements.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet.
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which that 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.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
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.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
Employees and staff
During the year to 31 December 2023, the company has no staff under contracts of employment (2022: nil).
4.
Investments
|
Shares in group undertakings |
|
£ |
Cost |
|
At 1 January 2023 and 31 December 2023 |
80 |
|
---- |
Impairment |
|
At 1 January 2023 and 31 December 2023 |
– |
|
---- |
|
|
Carrying amount |
|
At 31 December 2023 |
80 |
|
---- |
At 31 December 2022 |
80 |
|
---- |
|
|
5.
Debtors
|
2023 |
2022 |
|
£ |
£ |
Trade debtors |
266 |
– |
Amounts owed by group undertakings |
41,551 |
41,551 |
Other debtors |
4,396 |
67,956 |
|
-------- |
--------- |
|
46,213 |
109,507 |
|
-------- |
--------- |
|
|
|
6.
Creditors:
amounts falling due within one year
|
2023 |
2022 |
|
£ |
£ |
Amounts owed to group undertakings |
2,744,390 |
2,744,512 |
Social security and other taxes |
24,788 |
26 |
Other creditors |
158,135 |
231,358 |
|
------------ |
------------ |
|
2,927,313 |
2,975,896 |
|
------------ |
------------ |
|
|
|
7.
Contingent liabilities
A charge in favour of Northern Ireland Screen Commission has been made over the production bank account for the television series entitled "Mountain Vets". Charges in favour of Coutts & Company have been made over the Company's assets.
8.
Related party transactions
The company has taken advantage of FRS102 from disclosing transactions entered into between two or more members of a group, where any subsidiary undertaking which is a party to the transaction is a wholly owned by a member of that group. No further transactions with Related Parties were undertaken such as are required to be disclosed under FRS102.
9.
Controlling party
The immediate and ultimate parent entity is
Rare Television Limited
, a company incorporated in England and Wales. The company is included in the consolidated financial statements of Rare Television Limited, whose registered office is Audrey House, 16-20 Ely Place, London, England EC1N 6SN, and group financial statements can be obtained from the Registrar of Companies. The controlling party is N D Hutchinson, the beneficial owner of the ultimate parent entity.