Caseware UK (AP4) 2023.0.135 2023.0.135 2024-01-312024-01-31true22023-02-012motion picture production activities.falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 13642124 2023-02-01 2024-01-31 13642124 2022-10-01 2023-01-31 13642124 2024-01-31 13642124 2023-01-31 13642124 c:Director2 2023-02-01 2024-01-31 13642124 d:CurrentFinancialInstruments 2024-01-31 13642124 d:CurrentFinancialInstruments 2023-01-31 13642124 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 13642124 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 13642124 d:ShareCapital 2024-01-31 13642124 d:ShareCapital 2023-01-31 13642124 d:RetainedEarningsAccumulatedLosses 2024-01-31 13642124 d:RetainedEarningsAccumulatedLosses 2023-01-31 13642124 c:OrdinaryShareClass1 2023-02-01 2024-01-31 13642124 c:OrdinaryShareClass1 2024-01-31 13642124 c:FRS102 2023-02-01 2024-01-31 13642124 c:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 13642124 c:FullAccounts 2023-02-01 2024-01-31 13642124 c:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 13642124














NIKITA PAI FILMS LIMITED

 
UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

 
NIKITA PAI FILMS LIMITED
 

CONTENTS



Page
Balance sheet
 
1 - 2
Notes to the financial statements
 
3 - 5


 
NIKITA PAI FILMS LIMITED
REGISTERED NUMBER:13642124

BALANCE SHEET
AS AT 31 JANUARY 2024

2024
2023
Note
£
£

  

Current assets
  

Stocks
 4 
-
10,023,751

Debtors: amounts falling due within one year
 5 
3,460,324
466,628

Cash at bank and in hand
 6 
2,455
25,968

  
3,462,779
10,516,347

Creditors: amounts falling due within one year
 7 
(1,446,991)
(8,549,416)

Net current assets
  
 
 
2,015,788
 
 
1,966,931

Total assets less current liabilities
  
2,015,788
1,966,931

  

Net assets
  
2,015,788
1,966,931


Capital and reserves
  

Called up share capital 
 8 
100
100

Profit and loss account
  
2,015,688
1,966,831

  
2,015,788
1,966,931


1

 
NIKITA PAI FILMS LIMITED
REGISTERED NUMBER:13642124
    
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2024

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 profit and loss account 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 by: 




G Jeyakumar
Director

Date: 27 January 2025

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

2

 
NIKITA PAI FILMS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.


General information

Nikita Pai Films Limited is a private company, limited by shares, registered in England and Wales, registration number 13642124. The registered office address is 29 Lees Road, Uxbridge, UB8 3AS.
 
The principal activity of the company is that of motion picture production activities.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is pound sterling.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
2.3

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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.

 
2.4

Stocks

Work in progress represents the cost of producing the film. Production costs are amortized to the Profit or loss account over the period in which the rights of the relevant film is being exploited by the company. 

 
2.5

Debtors

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

 
2.6

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.

3

 
NIKITA PAI FILMS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities,are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.8

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 third parties and loans to related parties.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).


4.


Stocks

2024
2023
£
£

Film production cost
-
10,023,751



5.


Debtors

2024
2023
£
£


Other debtors
410,109
451,423

Prepayments
3,050,215
15,205

3,460,324
466,628



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
2,455
25,968


4

 
NIKITA PAI FILMS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Other loans
1,086,714
5,982,620

Trade creditors
312,500
479,565

FEU Payable
1,837
14,231

Accruals and deferred income
45,940
2,073,000

1,446,991
8,549,416



8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100  Ordinary shares of £1.00 each
100
100


 
5