TENTPOLE FILMS LIMITED |
Notes to the Accounts |
for the year ended 29 February 2024 |
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1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
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Turnover |
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Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. The Company is producing the British qualifying film titled as "Khwaabon Ka Jhamela (pka: Crash Course)" (the Film). The turnover recognised by the Company relates only to this Film. |
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Work in progress |
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Work in progress is measured at the lower of cost and estimated selling price less costs to complete and sell. Balance production cost of the Film at the balance sheet date is carried forward as work in progress on the basis that it is deemed recoverable from the future income/revenue of the Film. |
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. The tax credit claimed relates to the Film. Deferred tax assets based on timing differences is not applicable in respect of this Company's claim for film tax credits. |
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Foreign currency translation |
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Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss. |
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2 |
Employees |
2024 |
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2023 |
Number |
Number |
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Average number of persons employed by the company |
0 |
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5 |
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3 |
Debtors |
2024 |
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2023 |
£ |
£ |
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Trade debtors |
- |
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420,000 |
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VAT receivable |
1,050 |
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5,496 |
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Other debtors |
528,458 |
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527,458 |
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529,508 |
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952,954 |
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4 |
Creditors: amounts falling due within one year |
2024 |
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2023 |
£ |
£ |
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Trade creditors |
194,858 |
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2,057,621 |
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Advance for expenses |
1,134,000 |
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- |
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Other creditors |
238,331 |
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- |
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1,567,189 |
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2,057,621 |
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5 |
Related party transactions |
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During the year ending 29 February 2024, Ecobride Ltd invoiced the company for £1,000 (28/02/2023: £28,000) towards accountancy fee. Mrs Firuzi Khan, director of Ecobride Ltd, is a director of the Company. During the year ending 29 February 2024, Breakthrough Consultants Ltd invoiced the company for £5,250 (28/02/2023: £11,500) towards consultancy fee. Mrs Firuzi Khan, a director of the Company was also a director of Breakthrough Consultants Ltd between 31/08/2023 to 03/06/2024. During the year ending 29 February 2024, Firuzi Khan invoiced the company for £5,000 (28/02/2023: NIL) towards finance arrangement fee. |
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6 |
Controlling party |
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Mr Zia Ur Rahman Khan is the current PSC & the ultimate controlling party of the Company. |
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7 |
Other information |
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TENTPOLE FILMS LIMITED is a private company limited by shares and incorporated in England. Its registered office is: |
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Suite F |
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1-3 Canfield Place |
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London |
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NW6 3BT |