0 false false false false false false false false false false true false false false false false false No description of principal activity 2022-08-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 14065398 2022-08-01 2023-11-30 14065398 2023-11-30 14065398 2022-07-31 14065398 2022-04-25 2022-07-31 14065398 2022-07-31 14065398 2022-04-24 14065398 bus:OrdinaryShareClass1 2022-08-01 2023-11-30 14065398 bus:Director1 2022-08-01 2023-11-30 14065398 core:WithinOneYear 2023-11-30 14065398 core:UKTax 2022-08-01 2023-11-30 14065398 core:ShareCapital 2023-11-30 14065398 core:ShareCapital 2022-07-31 14065398 bus:SmallEntities 2022-08-01 2023-11-30 14065398 bus:AuditExemptWithAccountantsReport 2022-08-01 2023-11-30 14065398 bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-11-30 14065398 bus:PrivateLimitedCompanyLtd 2022-08-01 2023-11-30 14065398 bus:FullAccounts 2022-08-01 2023-11-30 14065398 bus:OrdinaryShareClass1 2023-11-30 14065398 bus:OrdinaryShareClass1 2022-07-31
COMPANY REGISTRATION NUMBER: 14065398
The Strangers Films Limited
Filleted Unaudited Accounts
30 November 2023
The Strangers Films Limited
Statement of Financial Position
30 November 2023
30 Nov 23
31 Jul 22
Note
£
£
Current assets
Stocks
13,156,612
Debtors
6
859,642
1
Cash at bank and in hand
842,034
-------------
----
14,858,288
1
Creditors: amounts falling due within one year
7
( 14,858,287)
-------------
----
Net current assets
1
1
----
----
Total assets less current liabilities
1
1
----
----
Net assets
1
1
----
----
Capital and reserves
Called up share capital
8
1
1
----
----
Shareholders funds
1
1
----
----
These accounts 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 30 November 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 accounts 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 accounts .
These accounts were approved by the board of directors and authorised for issue on 28 October 2024 , and are signed on behalf of the board by:
C H Milburn
Director
Company registration number: 14065398
The Strangers Films Limited
Notes to the Accounts
Period from 1 August 2022 to 30 November 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 160 Great Portland Street, London, W1W 5QA.
2. Statement of compliance
These accounts 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 entity satisfies the criteria of being a qualifying small entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under section 1A of FRS 102: (a) No cash flow statement has been presented for the company. (b) Disclosures in respect of financial instruments have not been presented.
Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit
Significant estimation technique adopted
Accruals are estimated by reference to purchase orders raised at the period end and estimates to complete. Payments received on account are estimated by reference to percentage of completion of the television production, as noted in "Turnover" above.
Comparatives
The accounts cover the period from 31 July 2023 to 30 November 2023. The comparatives cover the period from incorporation on 25 April 2022 to 31 July 2022.
The accounting period has been extended to ensure that the accounting period and tax credit claim is conterminous.
Revenue recognition
Turnover relates to the production of the film entitled "The Strangers 1". It represents the value of the work done in the period, including estimates of amounts not invoiced and is stated after trade discounts, other taxes and net of VAT. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Stocks
Stocks are 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
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.
4. Employees
The company has been incorporated to produce a film called "The Strangers #1". In common with the film and television industry the majority of crew are hired on short term contracts for the duration of principal photography or are self-employed.
5. Tax on loss
Major components of tax income
Period from
Period from
1 Aug 22 to
25 Apr 22 to
30 Nov 23
31 Jul 22
£
£
Current tax:
UK current tax income
( 498,943)
---------
----
Tax on loss
( 498,943)
---------
----
Reconciliation of tax income
The tax assessed on the loss on ordinary activities for the period is lower than (2022: the same as) the standard rate of corporation tax in the UK of 19 % (2022: 19 %).
Period from
Period from
1 Aug 22 to
25 Apr 22 to
30 Nov 23
31 Jul 22
£
£
Loss on ordinary activities before taxation
( 498,943)
---------
----
Film tax credit
(498,943)
---------
----
6. Debtors
30 Nov 23
31 Jul 22
£
£
VAT recoverable
349,457
Corporation tax recoverable
498,943
Other debtors
11,242
1
---------
----
859,642
1
---------
----
7. Creditors: amounts falling due within one year
30 Nov 23
31 Jul 22
£
£
Accruals and deferred income
14,196,539
Production loan
498,943
Other creditors
162,805
-------------
----
14,858,287
-------------
----
The loan has been secured against the anticipated future film tax credit.
8. Called up share capital
Issued, called up and fully paid
30 Nov 23
31 Jul 22
No.
£
No.
£
Ordinary shares of £ 1 each
1
1
1
1
----
----
----
----
9. Related party transactions
During the year no related-party transactions took place. All transactions related to the production of the film entitled "The Strangers 1" and arose on an arm's-length basis through the normal course of business. No transactions with related parties were undertaken such as are required to be disclosed under FRS 102.