COMPANY REGISTRATION NUMBER:
14634489
Filleted Financial Statements |
|
Statement of Financial Position |
|
31 March 2024
Current assets
Stocks |
87,282 |
Debtors |
5 |
2,094,871 |
|
------------ |
|
2,182,153 |
|
|
|
Creditors: amounts falling due within one year |
6 |
(
2,182,053) |
|
------------ |
Net current assets |
100 |
|
---- |
Total assets less current liabilities |
100 |
|
---- |
Net assets |
100 |
|
---- |
|
|
|
Capital and reserves
Called up share capital |
100 |
|
---- |
Shareholders funds |
100 |
|
---- |
|
|
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.
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.
These financial statements were approved by the
board of directors
and authorised for issue on
1 November 2024
, and are signed on behalf of the board by:
Company registration number:
14634489
Notes to the Financial Statements |
|
Period from 3 February 2023 to 31 March 2024
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 1 Television Centre, 101 Wood Lane, London, W12 7FA, England.
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.
Comparatives
The accounts cover the period from incorporation through to 31 March 2024, hence there are no comparative figures.
Judgements and key sources of estimation uncertainty
There are no material judgements or estimates used in the preparation of these financial statements
.
Revenue recognition
The turnover shown in the profit and loss account represents premiums on film finance in the form of loan interest and arrangement fees. Turnover is recognised when the company is entitled to consideration and represents amounts after other taxes and is exclusive of Value Added Tax. Interest income is measured at amortised cost using the effective interest method.
Stocks
Work-in-progress relates to transaction costs incurred on loans not repaid in the period. Transaction costs will be recognised in the profit and loss accounts over the life of the loans via the amortised cost method.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Loans are initially measured at fair value (including transaction costs) and are subsequently measured at amortised cost using the effective interest method.
4.
Employee numbers
The average number of persons employed by the company during the year, excluding the directors, amounted to nil.
None of the Directors received any form of remuneration.
5.
Debtors
|
31 Mar 24 |
|
£ |
Amounts owed by group undertakings |
2,094,871 |
|
------------ |
|
|
6.
Creditors:
amounts falling due within one year
|
31 Mar 24 |
|
£ |
Amounts owed to group undertakings |
1,924,771 |
Accruals and deferred income |
257,282 |
|
------------ |
|
2,182,053 |
|
------------ |
|
|
7.
Summary audit opinion
The auditor's report dated
1 November 2024
was
unqualified
.
The senior statutory auditor was
Stephen Joberns
, for and on behalf of
Shipleys LLP
.
8.
Related party transactions
No transactions with related parties were undertaken such as are required to be disclosed under FRS 102 Section 1A.The company has taken advantage of Section 33 of FRS 102 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 wholly owned by a member of that group.
9.
Controlling party
In the opinion of the directors the immediate parent undertaking was
House Productions Limited
, a company incorporated in England and Wales. The ultimate parent undertaking and controlling party is the British Broadcasting Corporation, which is incorporated in the United Kingdom by Royal Charter. The smallest group in which the results of the company are consolidated is that headed by BBC Commercial Limited. Financial statements for BBC Commercial Limited are publicly available and can be obtained from 1 Television Centre, 101 Wood Lane, London, England, W12 7FA.