Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31truefalse002023-04-01falseNo description of principal activitytrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12205481 2023-04-01 2024-03-31 12205481 2022-04-01 2023-03-31 12205481 2024-03-31 12205481 2023-03-31 12205481 c:Director1 2023-04-01 2024-03-31 12205481 d:CurrentFinancialInstruments 2024-03-31 12205481 d:CurrentFinancialInstruments 2023-03-31 12205481 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 12205481 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 12205481 d:ShareCapital 2024-03-31 12205481 d:ShareCapital 2023-03-31 12205481 d:RetainedEarningsAccumulatedLosses 2024-03-31 12205481 d:RetainedEarningsAccumulatedLosses 2023-03-31 12205481 c:FRS102 2023-04-01 2024-03-31 12205481 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 12205481 c:FullAccounts 2023-04-01 2024-03-31 12205481 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 12205481 2 2023-04-01 2024-03-31 12205481 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 12205481









TOO CLOSE LTD







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024


 
TOO CLOSE LTD
REGISTERED NUMBER: 12205481

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
2,604
26,403

Cash at bank and in hand
 5 
10,781
18,793

  
13,385
45,196

Creditors: amounts falling due within one year
 6 
(5,119)
(322,500)

Net current assets/(liabilities)
  
 
 
8,266
 
 
(277,304)

Total assets less current liabilities
  
8,266
(277,304)

  

Net assets/(liabilities)
  
8,266
(277,304)


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
8,265
(277,305)

  
8,266
(277,304)


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 year 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 income and retained earnings 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 20 November 2024.




N Blair
Director

The notes on pages 3 to 5 form part of these financial statements.
Page 1

 
TOO CLOSE LTD
REGISTERED NUMBER: 12205481
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024




Page 2

 
TOO CLOSE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Too Close Ltd is a private company limted by shares and registered in England & Wales.  The address of its registered office and principle place of business is 71 Queen Victoria Street, London, EC4V 4BE.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

At the reporting date the company had net assets of £8,266 and meets its day to day working capital requirements through the utilisation of its own funds and a loan from its immediate parent undertaking. 
Subsequent to year-end the Directors intend to close down the company following completion of the film. This will result in Too Close Limited ceasing to trade therefore the Directors have concluded that it is no longer appropriate to prepare the financial statements on a going concern basis. There have been no adjustments made to the financial statements as a result of the application of the non-going concern basis of accounting.

 
2.3

Revenue

Revenue comprises production revenue and non refundable advances on distribution revenue.
Production revenue is recognised in the period it is contractually due. Where revenue received exceeds costs incurred to date and profits are not anticipated, the balance is treated as deferred income and held on the Statement of Financial Position until further costs are incurred or profits anticipated. At this point the deferred income is released to the Statement of Income and Retained Earnings.
Distribution revenue is recognised in the period it is earned and non refundable advances are recognised in the period they are contractually due.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

  
2.5

Borrowing Costs

All borrowing costs are recognisd in profit or loss in the year in which they are incurred.

Page 3

 
TOO CLOSE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

  
2.6

Taxation

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

 
2.7

Debtors

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

 
2.8

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.

 
2.9

Creditors

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

 
2.10

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, loans from banks and loans to related parties.


3.


Employees

The personnel involved in the activities of this company are contracted to a connected company who makes a charge to Too Close Limited for the cost of such personnel. 





The average monthly number of employees, including directors, during the year was 0 (2023 - 0).

Page 4

 
TOO CLOSE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Debtors

2024
2023
£
£


Other debtors
2,604
24,156

Prepayments and accrued income
-
2,247

2,604
26,403



5.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
10,781
18,793

10,781
18,793



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Other creditors
2,619
320,000

Accruals and deferred income
2,500
2,500

5,119
322,500



7.


Controlling party

The immediate parent undertaking is Snowed-In Productions Limited. The ultimate controlling party is N Blair.

 
Page 5