Riley Productions London Limited
Annual Report and Unaudited Financial Statements
For Filing with Registrar
For the year ended 30 June 2024
Company Registration No. 07278629 (England and Wales)
Riley Productions London Limited
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 3
Riley Productions London Limited
Balance Sheet
As at 30 June 2024
Page 1
2024
2023
Notes
£
£
£
£
Current assets
Debtors
3
5,272
8,146
Cash at bank and in hand
674
673
5,946
8,819
Creditors: amounts falling due within one year
4
(446,668)
(444,741)
Net current liabilities
(440,722)
(435,922)
Capital and reserves
Called up share capital
5
1
1
Profit and loss reserves
(440,723)
(435,923)
Total equity
(440,722)
(435,922)
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 29 November 2024 and are signed on its behalf by:
S Barron
Director
Company Registration No. 07278629
Riley Productions London Limited
Notes to the Financial Statements
For the year ended 30 June 2024
Page 2
1
Accounting policies
Company information
Riley Productions London Limited is a private company limited by shares incorporated in England and Wales. The registered office is Charlotte Building, 17 Gresse Street, London, W1T 1QL.
1.1
Accounting convention
These financial statements have been prepared in accordance with Section 1A of FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
The company has net liabilities of £440,722 and made a loss for the year of £4,800. The company is dependant on the support of the directors who have confirmed that they will not withdraw their support for at least 12 months from signing the accounts.
1.3
Turnover
Turnover represents amounts receivable for film directing services net of VAT and trade discounts.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.
Work in progress is valued at the lower of cost and net realisable value.
1.4
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.5
Financial instruments
The company has basic financial instruments measured at amortised cost, with no financial instruments classified as other or basic instruments measured at fair value.
Riley Productions London Limited
Notes to the Financial Statements (Continued)
For the year ended 30 June 2024
Page 3
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
3
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
5,272
8,146
4
Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
446,668
444,741
5
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary share of £1
1
1
1
1
6
Related party transactions
Other creditors includes a balance due to the directors amounting to £442,004 (2022: £442,004).
Included in other creditors is a balance due to Riley Productions Limited a related party by virtue of common directorship, amounting to £486 (2023: (£3,834)).
Included in other creditors is a balance due to Opalcharm Limited a related party by virtue of common directorship, amounting to £1,931 (2023: £1,930).
Included in other creditors is a balance due to Margent Farm Limited a related party by virtue of common directorship, amounting to £807 (2023: £807).