|
|
|
|
Financial Statements |
Contents |
Page |
Officers and professional advisers |
1 |
Strategic report |
2 |
Directors' report |
3 |
Independent auditor's report to the members |
5 |
Consolidated statement of comprehensive income |
9 |
Consolidated statement of financial position |
10 |
Company statement of financial position |
11 |
Consolidated statement of changes in equity |
12 |
Company statement of changes in equity |
13 |
Consolidated statement of cash flows |
14 |
Notes to the financial statements |
15 |
|
Officers and Professional Advisers |
The board of directors |
|
|
|
|
|
Registered office |
|
|
|
|
|
|
|
England |
|
|
|
Auditor |
|
Chartered accountants & statutory auditor |
|
10 Orange Street |
|
Haymarket |
|
London |
|
WC2H 7DQ |
|
|
Strategic Report |
|
Director |
|
Directors' Report |
W J Clarke
|
|
|
|
|
|
|
Director |
|
Independent Auditor's Report to the Members of
|
|
(Senior Statutory Auditor) |
For and on behalf of |
|
Chartered accountants & statutory auditor |
10 Orange Street |
Haymarket |
London |
WC2H 7DQ |
|
Consolidated Statement of Comprehensive Income |
2023 |
2022 |
||
Note |
£ |
£ |
|
Turnover |
4 |
|
|
Cost of sales |
(
|
(
|
------------- |
------------- |
|
Gross profit |
|
|
Administrative expenses |
(
|
(
|
|
Other operating income |
5 |
|
|
------------ |
------------ |
||
Operating profit/(loss) |
6 |
|
(
|
Interest payable and similar expenses |
10 |
(
|
(
|
------------ |
------------ |
||
Loss before taxation |
(
|
(
|
|
Tax on loss |
11 |
|
|
--------- |
------------ |
||
Profit for the financial year and total comprehensive income |
|
|
|
--------- |
------------ |
||
The owners of the parent company |
|
|
Non-controlling interests |
|
|
-------- |
--------- |
|
|
|
|
-------- |
--------- |
|
|
Consolidated Statement of Financial Position |
2023 |
2022 |
|
Note |
£ |
£ |
Intangible assets |
12 |
|
|
Tangible assets |
13 |
|
|
Investments |
14 |
|
|
------------ |
------------ |
||
|
|
||
Stock and work in progress |
15 |
|
– |
Debtors |
16 |
|
|
Cash at bank and in hand |
|
|
|
------------- |
------------- |
||
|
|
||
Creditors: amounts falling due within one year |
17 |
(
|
(
|
------------- |
------------- |
||
Net current liabilities |
(
|
(
|
|
------------ |
------------ |
||
Total assets less current liabilities |
|
|
|
Creditors: amounts falling due after more than one year |
18 |
(
|
(
|
------------ |
------------ |
||
Net assets |
|
|
|
------------ |
------------ |
||
Called up share capital |
21 |
|
|
Share premium account |
22 |
|
|
Profit and loss account |
22 |
(
|
(
|
------------ |
------------ |
||
Equity attributable to the owners of the parent company |
|
|
|
Non-controlling interests |
|
|
--------- |
-------- |
|
|
|
|
--------- |
-------- |
|
|
Director |
|
Company Statement of Financial Position |
2023 |
2022 |
|
Note |
£ |
£ |
Intangible assets |
12 |
|
|
Tangible assets |
13 |
|
|
Investments |
14 |
|
|
------------ |
------------ |
||
|
|
||
Debtors |
16 |
|
|
Cash at bank and in hand |
|
|
|
------------ |
------------ |
||
|
|
||
Creditors: amounts falling due within one year |
17 |
(
|
(
|
------------ |
------------ |
||
Net current liabilities |
(
|
(
|
|
------------ |
------------ |
||
Total assets less current liabilities |
|
|
|
Creditors: amounts falling due after more than one year |
18 |
(
|
(
|
------------ |
------------ |
||
Net liabilities |
(
|
(
|
|
------------ |
------------ |
||
Called up share capital |
21 |
|
|
Share premium account |
22 |
|
|
Profit and loss account |
22 |
(
|
(
|
------------ |
------------ |
||
Shareholders deficit |
(
|
(
|
|
------------ |
------------ |
||
|
Director |
|
Consolidated Statement of Changes in Equity |
Called up share capital |
Share premium account |
Profit and loss account |
Equity attributable to the owners of the parent company |
Non-controlling interests |
Total |
|
£ |
£ |
£ |
£ |
£ |
£ |
|
At 1 April 2021 |
|
– |
(
|
(
|
|
(
|
Profit for the year |
|
|
|
|
||
---- |
---- |
------------ |
------------ |
-------- |
------------ |
|
Total comprehensive income for the year |
– |
– |
|
|
|
|
Issue of shares |
|
|
– |
|
– |
|
---- |
------------ |
------------ |
------------ |
-------- |
------------ |
|
Total investments by and distributions to owners |
|
|
– |
|
– |
|
At 31 March 2022 |
|
|
(
|
|
|
|
Profit for the year |
|
|
|
|
||
---- |
------------ |
------------ |
------------ |
-------- |
------------ |
|
Total comprehensive income for the year |
– |
– |
|
|
|
|
---- |
------------ |
------------ |
------------ |
--------- |
------------ |
|
At 31 March 2023 |
|
|
(
|
|
|
|
---- |
------------ |
------------ |
------------ |
--------- |
------------ |
|
|
Company Statement of Changes in Equity |
Called up share capital |
Share premium account |
Profit and loss account |
Total |
|
£ |
£ |
£ |
£ |
|
At 1 April 2021 |
|
– |
(
|
(
|
Profit for the year |
|
|
||
---- |
---- |
------------ |
------------ |
|
Total comprehensive income for the year |
– |
– |
|
|
Issue of shares |
|
|
– |
|
---- |
------------ |
------------ |
------------ |
|
Total investments by and distributions to owners |
|
|
– |
|
At 31 March 2022 |
|
|
(
|
(
|
Loss for the year |
(
|
(
|
||
---- |
------------ |
------------ |
------------ |
|
Total comprehensive income for the year |
– |
– |
(
|
(
|
---- |
------------ |
------------ |
------------ |
|
At 31 March 2023 |
|
|
(
|
(
|
---- |
------------ |
------------ |
------------ |
|
|
Consolidated Statement of Cash Flows |
2023 |
2022 |
|
£ |
£ |
|
Profit for the financial year |
|
|
Adjustments for: |
||
Depreciation of tangible assets |
|
|
Amortisation of intangible assets |
|
1,290,527
|
Impairment of intangible assets |
|
|
Interest payable and similar expenses |
|
|
Tax on (loss)/profit |
(
|
(
|
Accrued expenses/(income) |
|
(
|
Changes in: |
||
Stock and work in progress |
(
|
– |
Trade and other debtors |
|
|
Trade and other creditors |
|
(
|
------------ |
------------ |
|
Cash generated from operations |
|
(
|
Interest paid |
(
|
(
|
Tax received |
|
|
------------ |
------------ |
|
Net cash from operating activities |
|
|
------------ |
------------ |
|
Net payments for tangible assets |
(
|
(
|
Net payments for intangible assets |
(
|
(
|
------------ |
------------ |
|
Net cash used in investing activities |
(
|
(
|
------------ |
------------ |
|
Proceeds from issue of ordinary shares |
– |
|
Proceeds from borrowings |
|
(
|
Repayments of borrowings |
(
|
– |
------------ |
------------ |
|
Net cash (used in)/from financing activities |
(
|
|
------------ |
------------ |
|
Net (decrease)/increase in cash and cash equivalents |
(
|
|
Cash and cash equivalents at beginning of year |
1,779,938 |
1,393,719 |
------------ |
------------ |
|
Cash and cash equivalents at end of year |
|
|
------------ |
------------ |
|
|
Notes to the Financial Statements |
Film investments |
- |
|
|
Computer Equipment |
- |
|
|
2023 |
2022 |
|
£ |
£ |
|
Rendering of services |
|
|
------------- |
------------- |
|
2023 |
2022 |
|
£ |
£ |
|
Other operating income |
|
|
------- |
-------- |
|
2023 |
2022 |
|
£ |
£ |
|
Depreciation of tangible assets |
|
|
Impairment of trade debtors |
|
|
Foreign exchange differences |
|
|
Amortisation of intangible assets |
|
|
Impairment of intangible assets |
|
|
------------ |
------------ |
|
2023 |
2022 |
|
£ |
£ |
|
Fees payable for the audit of the financial statements |
|
|
-------- |
-------- |
|
2023 |
2022 |
|
No. |
No. |
|
Management staff |
3 |
3 |
Sales and distribution staff |
|
|
---- |
---- |
|
|
|
|
---- |
---- |
|
2023 |
2022 |
|
£ |
£ |
|
Wages and salaries |
|
|
Social security costs |
|
|
Other pension costs |
|
|
------------ |
------------ |
|
|
|
|
------------ |
------------ |
|
2023 |
2022 |
|
£ |
£ |
|
Remuneration |
|
|
--------- |
--------- |
|
2023 |
2022 |
|
No. |
No. |
|
Defined contribution plans |
|
|
---- |
---- |
|
2023 |
2022 |
|
£ |
£ |
|
Aggregate remuneration |
|
|
Company contributions to defined contribution pension plans |
|
|
--------- |
--------- |
|
|
|
|
--------- |
--------- |
|
2023 |
2022 |
|
£ |
£ |
|
Interest on bank loans and overdrafts |
|
|
--------- |
--------- |
|
2023 |
2022 |
|
£ |
£ |
|
UK current tax income |
(
|
(
|
Tax on (loss)/profit |
(
|
(
|
--------- |
------------ |
|
2023 |
2022 |
|
£ |
£ |
|
Loss on ordinary activities before taxation |
(
|
(
|
--------- |
------------ |
|
Loss on ordinary activities by rate of tax |
(
|
(
|
Effect of expenses not deductible for tax purposes |
|
|
Effect of capital allowances and depreciation |
|
(
|
Utilisation of tax losses |
– |
(
|
Unused tax losses |
|
|
High-end television tax relief |
(
|
(
|
--------- |
------------ |
|
Tax on (loss)/profit |
(
|
(
|
--------- |
------------ |
|
Group |
Film Investments |
£ |
|
Cost |
|
At 1 April 2022 |
|
Additions |
|
Disposals |
(
|
------------- |
|
At 31 March 2023 |
|
------------- |
|
Amortisation |
|
At 1 April 2022 |
|
Charge for the year |
|
Impairment losses |
|
------------- |
|
At 31 March 2023 |
|
------------- |
|
Carrying amount |
|
At 31 March 2023 |
|
------------- |
|
At 31 March 2022 |
|
------------- |
|
Company |
Film Investments |
£ |
|
Cost |
|
At 1 April 2022 |
|
Additions |
|
Disposals |
(
|
------------ |
|
At 31 March 2023 |
|
------------ |
|
Amortisation |
|
At 1 April 2022 |
|
Charge for the year |
|
Impairment losses |
|
------------ |
|
At 31 March 2023 |
|
------------ |
|
Carrying amount |
|
At 31 March 2023 |
|
------------ |
|
At 31 March 2022 |
|
------------ |
|
Group |
Computer Equipment |
£ |
|
Cost |
|
At 1 April 2022 |
|
Additions |
|
-------- |
|
At 31 March 2023 |
|
-------- |
|
Depreciation |
|
At 1 April 2022 |
|
Charge for the year |
|
-------- |
|
At 31 March 2023 |
|
-------- |
|
Carrying amount |
|
At 31 March 2023 |
|
-------- |
|
At 31 March 2022 |
|
-------- |
|
Company |
Computer Equipment |
£ |
|
Cost |
|
At 1 April 2022 |
|
Additions |
|
-------- |
|
At 31 March 2023 |
|
-------- |
|
Depreciation |
|
At 1 April 2022 |
|
Charge for the year |
|
-------- |
|
At 31 March 2023 |
|
-------- |
|
Carrying amount |
|
At 31 March 2023 |
|
-------- |
|
At 31 March 2022 |
|
-------- |
|
Group |
Shares in group undertakings |
£ |
|
Cost |
|
At 1 April 2022 and 31 March 2023 |
|
---- |
|
Impairment |
|
At 1 April 2022 and 31 March 2023 |
– |
---- |
|
Carrying amount |
|
At 1 April 2022 and 31 March 2023 |
|
---- |
|
At 31 March 2022 |
|
---- |
|
Company |
Shares in group undertakings |
£ |
|
Cost |
|
At 1 April 2022 and 31 March 2023 |
|
---- |
|
Impairment |
|
At 1 April 2022 and 31 March 2023 |
– |
---- |
|
Carrying amount |
|
At 1 April 2022 and 31 March 2023 |
|
---- |
|
At 31 March 2022 |
|
---- |
|
Class of share |
Percentage of shares held |
|
Subsidiary undertakings |
||
|
Ordinary |
90 |
|
Ordinary |
100 |
|
Ordinary |
100 |
|
Ordinary |
100 |
|
Ordinary |
100 |
|
Ordinary |
100 |
|
Ordinary |
100 |
|
Ordinary |
100 |
|
Ordinary |
100 |
|
Ordinary |
100 |
|
Ordinary |
100 |
|
Ordinary |
50 |
|
Ordinary |
50 |
Group |
Company |
|||
2023 |
2022 |
2023 |
2022 |
|
£ |
£ |
£ |
£ |
|
Work in progress |
|
– |
– |
– |
------------ |
---- |
---- |
---- |
|
Group |
Company |
|||
2023 |
2022 |
2023 |
2022 |
|
£ |
£ |
£ |
£ |
|
Trade debtors |
|
|
|
|
Amounts owed by group undertakings |
– |
– |
|
|
Prepayments and accrued income |
|
|
|
|
Corporation tax recoverable |
|
|
– |
– |
Other debtors |
|
|
|
|
------------ |
------------ |
------------ |
------------ |
|
|
|
|
|
|
------------ |
------------ |
------------ |
------------ |
|
Group |
Company |
|||
2023 |
2022 |
2023 |
2022 |
|
£ |
£ |
£ |
£ |
|
Trade creditors |
|
|
|
|
Amounts owed to group undertakings |
– |
– |
|
|
Accruals and deferred income |
|
|
|
|
Social security and other taxes |
|
|
|
|
Other creditors |
|
|
|
|
------------- |
------------- |
------------ |
------------ |
|
|
|
|
|
|
------------- |
------------- |
------------ |
------------ |
|
Group |
Company |
|||
2023 |
2022 |
2023 |
2022 |
|
£ |
£ |
£ |
£ |
|
Other creditors |
|
|
|
|
------------ |
------------ |
------------ |
------------ |
|
Group |
|||
2023 |
2022 |
||
£ |
£ |
||
Financial liabilities measured at amortised cost |
5,059,585 |
5,340,676 |
|
------------ |
------------ |
||
2023 |
2022 |
|||
No. |
£ |
No. |
£ |
|
|
|
58 |
|
58 |
|
|
10 |
|
10 |
|
|
43 |
|
43 |
--------- |
---- |
--------- |
---- |
|
|
111 |
|
111 |
|
--------- |
---- |
--------- |
---- |
|
At 1 Apr 2022 |
Cash flows |
At 31 Mar 2023 |
|
£ |
£ |
£ |
|
Cash at bank and in hand |
|
(1,205,117) |
|
------------ |
------------ |
--------- |
|
Group |
Company |
|||
2023 |
2022 |
2023 |
2022 |
|
£ |
£ |
£ |
£ |
|
Not later than 1 year |
|
– |
|
– |
--------- |
---- |
--------- |
---- |
|
|
Notes to the Financial Statements (continued) |