COMPANY REGISTRATION NUMBER:
SC749089
Filleted Unaudited Financial Statements |
|
Statement of Financial Position |
|
31 October 2023
Current assets
Work in progress |
5,854,503 |
Debtors |
4 |
1 |
Cash at bank and in hand |
24,365 |
|
------------ |
|
5,878,869 |
|
|
|
Creditors: amounts falling due within one year |
5 |
5,879,093 |
|
------------ |
Net current liabilities |
224 |
|
---- |
Total assets less current liabilities |
(
224) |
|
---- |
|
|
|
Capital and reserves
Called up share capital |
1 |
Profit and loss account |
(
225) |
|
---- |
Shareholders deficit |
(
224) |
|
---- |
|
|
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 comprehensive income has not been delivered.
For the period ending 31 October 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 period 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
.
These financial statements were approved by the
board of directors
and authorised for issue on
24 October 2024
, and are signed on behalf of the board by:
Company registration number:
SC749089
Notes to the Financial Statements |
|
Period from 2 November 2022 to 31 October 2023
1.
General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is 21b Bonnyside Road, Bonnybridge, FK4 2AD, Scotland.
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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Work in progress
Work in progress is measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the entity 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.
4.
Debtors
|
31 Oct 23 |
|
£ |
Other debtors |
1 |
|
---- |
|
|
5.
Creditors:
amounts falling due within one year
|
31 Oct 23 |
|
£ |
Production advances |
5,879,093 |
|
------------ |
|
|
6.
Contingencies
Charges have been made against the company's assets including its rights, title and interest in and to the film, in favour of the Argonaut Entertainment L.P. who have advanced funds to finance film production costs.