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COMPANY REGISTRATION NUMBER: 12598610
Rise Films (14 Ways) Limited
Filleted Financial Statements
30 April 2024
Rise Films (14 Ways) Limited
Statement of Financial Position
30 April 2024
2024
2023
Note
£
£
Current assets
Debtors
5
2,241
1,638
Cash at bank and in hand
2,810
23,590
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--------
5,051
25,228
Creditors: amounts falling due within one year
6
( 4,951)
( 25,128)
-------
--------
Net current assets
100
100
----
----
Total assets less current liabilities
100
100
----
----
Net assets
100
100
----
----
Capital and reserves
Called up share capital
7
100
100
----
----
Shareholders funds
100
100
----
----
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
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.
These financial statements were approved by the board of directors and authorised for issue on 28 January 2025 , and are signed on behalf of the board by:
E Leifer
Director
Company registration number: 12598610
Rise Films (14 Ways) Limited
Notes to the Financial Statements
Year ended 30 April 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 10 Orange Street, Haymarket, London, WC2H 7DQ, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Going concern
It is the intention of the directors to cease trading in the Company in the foreseeable future and therefore as required by Financial Reporting Standard 102 Section 1A, the directors have prepared the financial statements on the basis that the Company is no longer a going concern. No material adjustments arose as a result of ceasing to apply the going concern basis.
Significant estimation technique adopted
Accruals are estimated by reference to purchase orders raised at the period end and estimates to complete. Payments received on account are estimated by reference to percentage of completion of the film, as noted in "Revenue recognition".
Comparatives
The accounts cover the year from 1 May 2023 to 30 April 2024. The comparatives cover the year from 1 May 2022 to 30 April 2023.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying small entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under section 1A of FRS 102: (a) No cash flow statement has been presented for the company. (b) Disclosures in respect of financial instruments have not been presented.
Revenue recognition
Turnover relates to the production of the film entitled "Once Upon a Time in Londongrad (FKA 'The 14 Ways')". It represents the value of the work done in the period, including estimates of amounts not invoiced and is stated after trade discounts, other taxes and net of VAT. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Financial instruments
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 entity after deducting all of its financial liabilities.
4. Employees
The company has been incorporated to produce a film called "Once Upon a Time in Londongrad (FKA 'The 14 Ways')". In common with the film and television industry the majority of crew are hired on short term contracts for the duration of principal photography or are self-employed.
None of the Directors received any form of remuneration.
5. Debtors
2024
2023
£
£
Trade debtors
1,289
Prepayments and accrued income
1,887
VAT recoverable
254
249
Other debtors
100
100
-------
-------
2,241
1,638
-------
-------
6. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
20,656
Accruals and deferred income
4,951
4,472
-------
--------
4,951
25,128
-------
--------
7. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
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----
----
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8. Contingent liabilities
Charges have been made against the film in favour of the following parties to secure their interests in the copyright of and title to the film: Universal Media Studios International Limited
9. Summary audit opinion
The auditor's report dated 28 January 2025 was unqualified .
The senior statutory auditor was STEPHEN JOBERNS , for and on behalf of Shipleys LLP .
10. Related party transactions
During the period no related-party transactions took place. All transactions related to the production of the film "Once Upon a Time in Londongrad (FKA 'The 14 Ways')" and arose on an arm's-length basis through the normal course of business. No transactions with related parties were undertaken such as are required to be disclosed under FRS 102 Section 1A.
11. Controlling party
In the opinion of the directors the immediate parent undertaking is Rise Film Limited, a company incorporated in England and Wales.