Company Registration No. 14430562 (England and Wales)
1K Curious Limited
Annual report and unaudited financial statements
for the period ended 31 March 2024
1K Curious Limited
Company information
Director
Dov Freedman
(Appointed 19 October 2022)
Secretary
Iwona Marta Goncalves
Company number
14430562
Registered office
Unit 3
Perseverance Works
38 Kingsland Road
London
E2 8DD
1K Curious Limited
Contents
Page
Director's report
1
Director's responsibilities statement
2
Accountants' report
3
Income statement
4
Statement of financial position
5
Notes to the financial statements
7 - 10
1K Curious Limited
Director's report
For the period ended 31 March 2024
1

The director presents his annual report and financial statements for the period ended 31 March 2024.

Principal activities

The principal activity of the company is that of television programme production.

Director

The director who held office during the period and up to the date of signature of the financial statements was as follows:

Dov Freedman
(Appointed 19 October 2022)
Going Concern

The directors have decided that the company will cease trading within 12 months of filing these financial statements as the production is now complete and there will be no further trading activity for this company, and therefore consider preparation on a basis other than going concern appropriate (see Note 1.2). Current assets have been stated at recoverable amounts.

Small companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

On behalf of the board
Dov Freedman
Director
20 December 2024
1K Curious Limited
Director's responsibilities statement
For the period ended 31 March 2024
2

The director is responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

 

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).

 

Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:

 

 

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

1K Curious Limited
Chartered accountants' report to the Board of Directors on the preparation of the unaudited statutory financial statements of 1K Curious Limited for the period ended 31 March 2024
3

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of 1K Curious Limited for the period ended 31 March 2024 set out on pages 4 to 10 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 icaew.com/regulation.

This report is made solely to the Board of Directors of 1K Curious Limited, as a body, in accordance with the terms of our engagement letter dated 15 December 2022. Our work has been undertaken solely to prepare for your approval the financial statements of 1K Curious Limited and state those matters that we have agreed to state to the Board of Directors of 1K Curious Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than 1K Curious Limited and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that 1K Curious 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 result of 1K Curious Limited. You consider that 1K Curious Limited is exempt from the statutory audit requirement for the period.

You have advised us of your intention to liquidate the company and, consequently, these accounts are prepared on a basis other than a going concern, as disclosed in note 1.2. This has not resulted in any accounting adjustments for the period.

 

We have not been instructed to carry out an audit or a review of the financial statements of 1K Curious 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.

Saffery LLP
28 January 2025
Chartered Accountants
71 Queen Victoria Street
London
ECV4 4BE
1K Curious Limited
Income statement
For the period ended 31 March 2024
4
Period
ended
31 March
2024
Notes
£
Turnover
2,161,197
Cost of sales
(2,683,860)
Gross (loss)/profit
(522,663)
Administrative expenses
(11,700)
Other operating income
8,545
Loss before taxation
(525,818)
Tax on loss
3
525,818
Profit for the financial period
-
0

The income statement has been prepared on the basis that all operations are continuing operations.

1K Curious Limited
Statement of financial position
As at 31 March 2024
31 March 2024
5
2024
Notes
£
£
Current assets
Debtors
4
542,261
Cash at bank and in hand
115,327
657,588
Creditors: amounts falling due within one year
5
(657,587)
Net current assets
1
Capital and reserves
Called up share capital
6
1

For the financial period ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his 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 period in question in accordance with section 476.

These financial statements have been prepared 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 20 December 2024 and are signed on its behalf by:
Dov Freedman
Director
Company Registration No. 14430562
1K Curious Limited
Statement of changes in equity
For the period ended 31 March 2024
6
Share capital
£
Balance at 19 October 2022
1
Period ended 31 March 2024:
Profit and total comprehensive income
-
Balance at 31 March 2024
1
1K Curious Limited
Notes to the financial statements
For the period ended 31 March 2024
7
1
Accounting policies
Company information

1K Curious Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 3, Perseverance Works, 38 Kingsland Road, London, E2 8DD.

1.1
Accounting convention

These financial statements have been prepared in accordance with 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 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 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

As a result of the low levels of activity in the company, the directors have made the decision that it is no longer cost effective to keep the company open, and plan to liquidate the company going forward. This is a voluntary decision made in order to reduce the annual compliance cost cost of keeping the company open. The group will continue to support the company until it has been formally liquidated. Accordingly the financial statements have been prepared on a basis other than going concern. Current assets have been stated at recoverable amounts. true

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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.

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.

1K Curious Limited
Notes to the financial statements (continued)
For the period ended 31 March 2024
1
Accounting policies (continued)
8
1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

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 company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.7
Taxation

The tax expense represents the sum of the tax currently receivable and deferred tax.

Current tax

The tax currently recoverable is based on relievable losses arising in the year as the result of the film tax relief legislation. Relievable losses differ from net losses as reported in the profit and loss account because they include an additional deduction relating to qualifying film development expenditure and exclude items of income or expense that are taxable or deductible in other years, as well as items that are never taxable or deductible. The company's tax position is calculated using tax rates that have been enacted or substantively enacted by the reporting date.

1K Curious Limited
Notes to the financial statements (continued)
For the period ended 31 March 2024
1
Accounting policies (continued)
9
1.8
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of transactions where practicable or at an average rate for the year. At each reporting end date, monetary assets and liabilities the denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date.

2
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2024
Number
Total
3
3
Taxation
2024
£
Current tax
UK corporation tax on profits for the current period
(525,818)
4
Debtors
2024
Amounts falling due within one year:
£
Corporation tax recoverable
525,818
Other debtors
16,443
542,261
5
Creditors: amounts falling due within one year
2024
£
Trade creditors
1,611
Amounts owed to group undertakings
15
Other creditors
380,705
Accruals and deferred income
275,256
657,587
1K Curious Limited
Notes to the financial statements (continued)
For the period ended 31 March 2024
10
6
Called up share capital
2024
2024
Ordinary share capital
Number
£
Issued and fully paid
Ordinary shares of £1 each
1
1
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