Caseware UK (AP4) 2023.0.135 2023.0.135 2024-08-312024-08-31true2The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.falsefalse2024-04-01falseNo description of principal activity2 14708673 2024-04-01 2024-08-31 14708673 2023-03-06 2024-03-31 14708673 2024-08-31 14708673 2024-03-31 14708673 c:Director1 2024-04-01 2024-08-31 14708673 d:CurrentFinancialInstruments 2024-08-31 14708673 d:CurrentFinancialInstruments 2024-03-31 14708673 d:CurrentFinancialInstruments d:WithinOneYear 2024-08-31 14708673 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 14708673 d:ShareCapital 2024-08-31 14708673 d:ShareCapital 2024-03-31 14708673 c:FRS102 2024-04-01 2024-08-31 14708673 c:AuditExempt-NoAccountantsReport 2024-04-01 2024-08-31 14708673 c:FullAccounts 2024-04-01 2024-08-31 14708673 c:PrivateLimitedCompanyLtd 2024-04-01 2024-08-31 14708673 e:PoundSterling 2024-04-01 2024-08-31 iso4217:GBP xbrli:pure

Registered number: 14708673









AVOCADO ROAD FILMS LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 AUGUST 2024

 
AVOCADO ROAD FILMS LTD
REGISTERED NUMBER: 14708673

STATEMENT OF FINANCIAL POSITION
AS AT 31 AUGUST 2024

31 August
31 August
31 March
31 March
2024
2024
2024
2024
Note
£
£
£
£

  

Current assets
  

Stocks
 4 
301,381
836,682

Debtors: amounts falling due within one year
 5 
310,713
4,099

Cash at bank and in hand
  
12,264
39,240

  
624,358
880,021

Creditors: amounts falling due within one year
 6 
(624,357)
(880,020)

Net current assets
  
 
 
1
 
 
1

  

Net assets
  
1
1


Capital and reserves
  

Called up share capital 
  
1
1

  
1
1


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 period 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 statement of comprehensive income 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: 




S F Price
Director

Date: 10 February 2025

The notes on pages 3 to 5 form part of these financial statements.
Page 1

 
AVOCADO ROAD FILMS LTD
REGISTERED NUMBER: 14708673
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 AUGUST 2024


Page 2

 
AVOCADO ROAD FILMS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2024

1.


General information

Avocado Road Films Ltd is a private company limited by shares incorporated in the United Kingdom and registered in England and Wales. The address of its registered office is 9 Perseverance Works, Kingsland Road, London, E2 8DD.
The comparative figures cover the period from 6 March 2023, the date of incorporation, to 31 March 2024.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is GBP.

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.

 
2.3

Revenue

Turnover represents production income receivable and is recognised in the Statement of comprehensive income in the period it is contractually due.

  
2.4

Cost of sales

Production costs incurred in producing a film are recognised in the Statement of comprehensive income as cost of sales in the period in which they are incurred.

 
2.5

Taxation

The tax credit represents the sum of the tax currently recoverable.

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.

Page 3

 
AVOCADO ROAD FILMS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.6

Stocks

Stocks relates to direct production costs, net of tax credits, incurred on film productions which have been delivered.
At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.7

Debtors

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

 
2.8

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.

 
2.9

Creditors

Short-term creditors are measured at the transaction price.

 
2.10

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 plus loans from related parties.


3.


Employees

The average monthly number of employees, including directors, during the period was 2 (2024 - 2).


4.


Stocks

31 August
31 March
2024
2024
£
£

Production costs / work in progress
301,381
836,682

301,381
836,682


Page 4

 
AVOCADO ROAD FILMS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2024

5.


Debtors

31 August
31 March
2024
2024
£
£


Trade debtors
84,522
-

Other debtors
7,124
4,099

Tax recoverable
219,067
-

310,713
4,099



6.


Creditors: Amounts falling due within one year

31 August
31 March
2024
2024
£
£

Trade creditors
2,364
14,864

Amounts owed to group undertakings
273,965
10,031

Other creditors
341,854
341,854

Accruals and deferred income
6,174
513,271

624,357
880,020



7.


Related party transactions

The company is exempt from disclosing related party transactions with companies that are wholly owned within the group.

 
Page 5