Company registration number 13648737 (England and Wales)
SS AMERICAN FILM LIMITED
Unaudited financial statements
For the year ended 30 September 2024
SS AMERICAN FILM LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
SS AMERICAN FILM LIMITED
BALANCE SHEET
As at 30 September 2024
30 September 2024
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Debtors
3
54
46,853
Cash at bank and in hand
8,947
86
9,001
46,939
Creditors: amounts falling due within one year
4
(9,000)
(46,938)
Net current assets
1
1
Capital and reserves
Called up share capital
1
1

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered 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 14 February 2025 and are signed on its behalf by:
Mrs H J Enright
Director
Company registration number 13648737 (England and Wales)
SS AMERICAN FILM LIMITED
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 30 September 2024
- 2 -
1
Accounting policies
Company information

SS American Film Limited is a private company limited by shares incorporated in England and Wales. The registered office is 55 Strand, 8th Floor, London, WC2N 5LR.

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.

The company’s immediate parent is Trafalgar Theatre Productions Limited, a company incorporated in the United Kingdom and registered in England and Wales.

 

However, the directors of SS American Film Limited do not consider that the company controls SS American Film Limited. The accounts for the smallest group for which consolidated accounts are prepared and which include Trafalgar Theatre Productions Limited include the following statement, “SS American Film Limited is not considered to be an entity over which any controls or significant influence is exerted by the group”.

 

The directors of SS American Film Limited concur with that assessment and do not consider that there is a controlling party. Therefore, the directors consider it appropriate to take advantage of such exemptions as are available to a company which is not a subsidiary company.

1.2
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.

1.3
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.

SS AMERICAN FILM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (continued)
For the year ended 30 September 2024
1
Accounting policies (continued)
- 3 -
1.4
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 balance sheet 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 and cash and bank balances, 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.

2
Employees

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

2024
2023
Number
Number
Total
-
0
-
0
SS AMERICAN FILM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (continued)
For the year ended 30 September 2024
- 4 -
3
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
1
45,884
Other debtors
53
969
54
46,853
4
Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings
-
0
7,332
Taxation and social security
6,500
-
0
Other creditors
2,500
39,606
9,000
46,938
5
Related party transactions
Balances with related parties
Amounts owed by
Amounts owed to
related parties
related parties
2024
2023
2024
2023
£
£
£
£
Entities with control, joint control or significant influence over the company
1
45,884
-
0
7,332
6
Parent company

The company’s immediate parent is Trafalgar Theatre Productions Limited, a company incorporated in the United Kingdom and registered in England and Wales.

 

However, the directors of Trafalgar Theatre Productions Limited do not consider that the company controls SS American Film Limited. The accounts for the smallest group for which consolidated accounts are prepared and which include Trafalgar Theatre Productions Limited include the following statement “SS American Film Limited is not considered to be an entity over which any controls or significant influence is exerted by the group”.

 

The directors of SS American Film Limited concur with that assessment and do not consider that there is a controlling party. Therefore, the directors consider it appropriate to take advantage of such exemptions as are available to a company which is not a subsidiary.

 

The ultimate controlling party is Barings Asset-Based Income Fund (US) LP, by virtue of its 82.98% holding in the issued share capital of Trafalgar Entertainment Group Limited.

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