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2023-05-16
Sage Accounts Production Advanced 2023 - FRS102_2023
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14871395
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2024-03-31
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COMPANY REGISTRATION NUMBER:
14871395
Seraphim Film Productions Limited |
|
Filleted Unaudited Financial Statements |
|
Seraphim Film Productions Limited |
|
Period from 16 May 2023 to 31 March 2024
Chartered accountants report to the board of directors on the preparation of the unaudited statutory financial statements |
1 |
|
|
Notes to the financial statements |
3 to 5 |
|
|
Seraphim Film Productions Limited |
|
Chartered Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of
Seraphim Film Productions Limited |
|
Period from 16 May 2023 to 31 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Seraphim Film Productions Limited for the period ended 31 March 2024, which comprise the balance sheet and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the Board of Directors of Seraphim Film Productions Limited, as a body, in accordance with the terms of our engagement letter dated 17 May 2023. Our work has been undertaken solely to prepare for your approval the financial statements of Seraphim Film Productions Limited and state those matters that we have agreed to state to you, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Seraphim Film Productions Limited and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that Seraphim Film Productions Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Seraphim Film Productions Limited. You consider that Seraphim Film Productions Limited is exempt from the statutory audit requirement for the period. We have not been instructed to carry out an audit or a review of the financial statements of Seraphim Film Productions Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
MILLER DAVIES LLP
Chartered Accountants
A3 Broomsleigh Business Park
Worsley Bridge Road
London
SE26 5BN
5 November 2024
Seraphim Film Productions Limited |
|
31 March 2024
Fixed assets
Current assets
Debtors |
5 |
3,877 |
Cash at bank and in hand |
14,054 |
|
-------- |
|
17,931 |
|
|
|
Creditors: amounts falling due within one year |
6 |
380,601 |
|
--------- |
Net current liabilities |
362,670 |
|
--------- |
Total assets less current liabilities |
(
356,498) |
|
--------- |
Net liabilities |
(
356,498) |
|
--------- |
|
|
|
Capital and reserves
Called up share capital |
200 |
Profit and loss account |
(
356,698) |
|
--------- |
Shareholders deficit |
(
356,498) |
|
--------- |
|
|
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 profit and loss account has not been delivered.
For the period ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 directors acknowledge their 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
5 November 2024
, and are signed on behalf of the board by:
Mr R. S. Nathaniel |
Mrs S. K. Nathaniel |
Director |
Director |
|
|
Company registration number:
14871395
Seraphim Film Productions Limited |
|
Notes to the Financial Statements |
|
Period from 16 May 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 Unit A3 Broomsleigh Business Park, Worsley Bridge Road, London, SE26 5BN.
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 measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Fixtures and fittings |
- |
33% straight line |
|
Equipment |
- |
33% straight line |
|
|
|
|
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
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.
Tangible assets
|
Fixtures and fittings |
Equipment |
Total |
|
£ |
£ |
£ |
Cost |
|
|
|
At 16 May 2023 |
– |
– |
– |
Additions |
114 |
9,144 |
9,258 |
|
---- |
------- |
------- |
At 31 March 2024 |
114 |
9,144 |
9,258 |
|
---- |
------- |
------- |
Depreciation |
|
|
|
At 16 May 2023 |
– |
– |
– |
Charge for the period |
38 |
3,048 |
3,086 |
|
---- |
------- |
------- |
At 31 March 2024 |
38 |
3,048 |
3,086 |
|
---- |
------- |
------- |
Carrying amount |
|
|
|
At 31 March 2024 |
76 |
6,096 |
6,172 |
|
---- |
------- |
------- |
|
|
|
|
5.
Debtors
|
31 Mar 24 |
|
£ |
Other debtors |
3,877 |
|
------- |
|
|
6.
Creditors:
amounts falling due within one year
|
31 Mar 24 |
|
£ |
Trade creditors |
7,728 |
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
365,300 |
Other creditors |
7,573 |
|
--------- |
|
380,601 |
|
--------- |
|
|
7.
Financial instruments
The carrying amount for each category of financial instrument is as follows:
Financial assets measured at fair value through profit or loss
Financial assets measured at fair value through profit or loss |
14,054 |
|
-------- |
|
|
Financial liabilities measured at fair value through profit or loss
Financial liabilities measured at fair value through profit or loss |
380,801 |
|
--------- |
|
|
8.
Related party transactions
During the year the company was loaned £365,300 (2023 - £Nil) from Seraphim Group UK Limited, who own the entire share capital of
Seraphim Film Productions Limited
. At the year end the total loan stood at £365,300 (2023 - £Nil)
9.
Controlling party
The company's ultimate parent company is Seraphim Group UK Limited, a company incorporated in England and Wales.