1 false false true false false false false false false false true false false false false false false No description of principal activity 2023-05-01 Sage Accounts Production Advanced 2023 - FRS102_2023 1,970 1,970 xbrli:pure xbrli:shares iso4217:GBP 07450927 2023-05-01 2024-04-30 07450927 2024-04-30 07450927 2023-04-30 07450927 2022-05-01 2023-04-30 07450927 2023-04-30 07450927 2022-04-30 07450927 bus:Director1 2023-05-01 2024-04-30 07450927 core:WithinOneYear 2024-04-30 07450927 core:WithinOneYear 2023-04-30 07450927 core:ShareCapital 2024-04-30 07450927 core:ShareCapital 2023-04-30 07450927 core:RetainedEarningsAccumulatedLosses 2024-04-30 07450927 core:RetainedEarningsAccumulatedLosses 2023-04-30 07450927 bus:Director1 2023-04-30 07450927 bus:Director1 2024-04-30 07450927 bus:Director1 2023-04-30 07450927 bus:Director1 2022-05-01 2023-04-30 07450927 bus:SmallEntities 2023-05-01 2024-04-30 07450927 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 07450927 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 07450927 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 07450927 bus:FullAccounts 2023-05-01 2024-04-30 07450927 core:ComputerEquipment 2023-05-01 2024-04-30 07450927 core:ComputerEquipment 2024-04-30
COMPANY REGISTRATION NUMBER: 07450927
Newscope Films Limited
Filleted Unaudited Accounts
30 April 2024
Newscope Films Limited
Statement of Financial Position
30 April 2024
2024
2023
Note
£
£
£
Current assets
Work in progress
482,840
446,310
Debtors
6
31,652
12,733
Cash at bank and in hand
4,553
31,606
---------
---------
519,045
490,649
Creditors: amounts falling due within one year
7
( 706,392)
( 671,879)
---------
---------
Net current liabilities
( 187,347)
( 181,230)
---------
---------
Total assets less current liabilities
( 187,347)
( 181,230)
---------
---------
Net liabilities
( 187,347)
( 181,230)
---------
---------
Capital and reserves
Called up share capital
1
1
Profit and loss account
( 187,348)
( 181,231)
---------
---------
Shareholders deficit
( 187,347)
( 181,230)
---------
---------
These accounts 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.
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts .
These accounts were approved by the board of directors and authorised for issue on 31 January 2025 , and are signed on behalf of the board by:
J Newmark
Director
Company registration number: 07450927
Newscope Films Limited
Notes to the Accounts
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 23 Streatham Common South, SW16 3BX, London.
2. Statement of compliance
These accounts 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 accounts 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 accounts are prepared in sterling, which is the functional currency of the entity.
Going concern
The accounts have been prepared on a going concern basis despite the fact that the company had net current liabilities at the year end. The company is dependent on the continued support of its shareholder, who has expressed their willingness to continue to provide such support for the foreseeable future.
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 shown in the profit and loss account represent amounts invoiced during the year, for production services provided, and is stated after trade discounts, other taxes and net of VAT. Amounts invoiced in advance are included in deferred income. The value of work done in relation to long-term contracts and continuing services is determined by reference to the stage of completion of the relevant project.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
25% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Tangible assets
Equipment
Total
£
£
Cost
At 1 May 2023 and 30 April 2024
1,970
1,970
-------
-------
Depreciation
At 1 May 2023 and 30 April 2024
1,970
1,970
-------
-------
Carrying amount
At 30 April 2024
-------
-------
At 30 April 2023
-------
-------
6. Debtors
2024
2023
£
£
Trade debtors
18,865
8,042
Prepayments and accrued income
4,348
Director's loan account
2,564
VAT recoverable
2,127
Other debtors
8,439
--------
--------
31,652
12,733
--------
--------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
9,298
6,791
Amounts owed to related companies
44,916
135,307
Accruals and deferred income
484,473
475,751
Social security and other taxes
6,056
Director loan accounts
76,634
Other creditors
85,015
54,030
---------
---------
706,392
671,879
---------
---------
8. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
J Newmark
2,564
( 79,198)
( 76,634)
-------
--------
--------
2023
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
J Newmark
2,564
2,564
----
-------
-------
9. Related party transactions
The company was under the control of J Newmark throughout the current and previous year. No transactions with related parties were undertaken such as are required to be disclosed under FRS 102 Section 1A.