Caseware UK (AP4) 2023.0.135 2023.0.135 2024-07-312024-07-317false2023-09-01trueNo description of principal activity4trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 13786779 2023-09-01 2024-07-31 13786779 2022-05-01 2023-08-31 13786779 2024-07-31 13786779 2023-08-31 13786779 c:Director1 2023-09-01 2024-07-31 13786779 d:CurrentFinancialInstruments 2024-07-31 13786779 d:CurrentFinancialInstruments 2023-08-31 13786779 d:CurrentFinancialInstruments d:WithinOneYear 2024-07-31 13786779 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 13786779 d:ShareCapital 2024-07-31 13786779 d:ShareCapital 2023-08-31 13786779 c:FRS102 2023-09-01 2024-07-31 13786779 c:AuditExempt-NoAccountantsReport 2023-09-01 2024-07-31 13786779 c:FullAccounts 2023-09-01 2024-07-31 13786779 c:PrivateLimitedCompanyLtd 2023-09-01 2024-07-31 iso4217:GBP xbrli:pure

Registered number: 13786779









LAST SWIM LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 JULY 2024

 
LAST SWIM LTD
REGISTERED NUMBER: 13786779

STATEMENT OF FINANCIAL POSITION
AS AT 31 JULY 2024

31 July
31 August
2024
2023
Note
£
£

  

Current assets
  

Stocks
 4 
903,163
831,928

Debtors: amounts falling due within one year
 5 
34,493
219,528

Cash at bank and in hand
 6 
3,714
17,329

  
941,370
1,068,785

Creditors: amounts falling due within one year
 7 
(941,270)
(1,068,685)

Net current assets
  
 
 
100
 
 
100

Total assets less current liabilities
  
100
100

  

Net assets
  
100
100


Capital and reserves
  

Called up share capital 
  
100
100

  
100
100


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 period 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 15 October 2024.


C Beaton
Director

The notes on pages 2 to 4 form part of these financial statements.

Page 1

 
LAST SWIM LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JULY 2024

1.


General information

Last Swim Limited is a private company limited by shares and registered in England and Wales. The address of its registered office is Charterwells Suite 8, 2nd Floor, 43-45 High Road, Bushey Heath, United Kingdom, WD23 1EE.

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

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.

 
2.3

Taxation

Tax is recognised in the Statement of Income and Retained Earnings. The current 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.

 
2.4

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.

 
2.5

Debtors

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

 
2.6

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.

 
2.7

Creditors

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

Page 2

 
LAST SWIM LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.8

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and film production loans.


3.


Employees

The average monthly number of employees, including directors, during the period was 4 (2023 - 7).


4.


Stocks

31 July
31 August
2024
2023
£
£

Work in progress - film production costs
903,163
831,928

903,163
831,928



5.


Debtors

31 July
31 August
2024
2023
£
£


Other debtors
34,393
219,428

Called up share capital not paid
100
100

34,493
219,528



6.


Cash and cash equivalents

31 July
31 August
2024
2023
£
£

Cash at bank and in hand
3,714
17,329

3,714
17,329


Page 3

 
LAST SWIM LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JULY 2024

7.


Creditors: Amounts falling due within one year

31 July
31 August
2024
2023
£
£

Trade creditors
4,085
26,500

Other creditors
937,185
1,037,185

Accruals and deferred income
-
5,000

941,270
1,068,685



8.


Related party transactions

During the period recoupable production funding totalling £nil (2023: £350,000) and £nil (2023: £194,067) was received from companies with common directors.  At the reporting date £250,000 (2023: £350,000) and £194,067 (2023: £194,067) was payable in respect of these advances.
During the period production recharges totalling £6,713 (2023: £21,626) were payable to a company with common directors.  At the reporting date £nil (2023: £nil) was payable in respect of these recharges.


9.


Controlling party

In the opinion of the directors there is no ultimate controlling party.
 
Page 4