REGISTERED NUMBER: |
Report of the Director and |
Unaudited Financial Statements for the Period 1 April 2022 to 30 September 2023 |
for |
Studio Magic Films Ltd |
REGISTERED NUMBER: |
Report of the Director and |
Unaudited Financial Statements for the Period 1 April 2022 to 30 September 2023 |
for |
Studio Magic Films Ltd |
Studio Magic Films Ltd (Registered number: 13599402) |
Contents of the Financial Statements |
for the Period 1 April 2022 to 30 September 2023 |
Page |
Company Information | 1 |
Report of the Director | 2 |
Income Statement | 3 |
Balance Sheet | 4 |
Notes to the Financial Statements | 5 |
Studio Magic Films Ltd |
Company Information |
for the Period 1 April 2022 to 30 September 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
Studio Magic Films Ltd (Registered number: 13599402) |
Report of the Director |
for the Period 1 April 2022 to 30 September 2023 |
The director presents his report with the financial statements of the company for the period 1 April 2022 to 30 September 2023. |
INCORPORATION |
The company was incorporated on 2 September 2021 . |
PRINCIPAL ACTIVITY |
The principal activity of the company during the year was that of motion picture production. |
DIRECTORS |
The directors who have held office during the period from 1 April 2022 to the date of this report are as follows: |
The director who is eligible offers himself for election at the forthcoming first Annual General Meeting. |
This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. |
ON BEHALF OF THE BOARD: |
Studio Magic Films Ltd (Registered number: 13599402) |
Income Statement |
for the Period 1 April 2022 to 30 September 2023 |
£ |
TURNOVER |
Administrative expenses |
OPERATING LOSS and |
LOSS BEFORE TAXATION | ( |
) |
Tax on loss |
LOSS FOR THE FINANCIAL PERIOD |
( |
) |
Studio Magic Films Ltd (Registered number: 13599402) |
Balance Sheet |
30 September 2023 |
Notes | £ |
CURRENT ASSETS |
Stocks | 4 |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) |
The director acknowledges his responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
The financial statements were approved by the director and authorised for issue on |
Studio Magic Films Ltd (Registered number: 13599402) |
Notes to the Financial Statements |
for the Period 1 April 2022 to 30 September 2023 |
1. | STATUTORY INFORMATION |
Studio Magic Films Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Stocks and work in progress |
Production costs incurred during the period are recognised as work in progress on the balance sheet until the film is delivered to the commissioning distributor. |
Upon delivery of the film, it is acquired by the commissioning distributor and the production costs are then charged to the profit and loss account as cost of sales. |
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 transaction. Exchange differences are taken into account in arriving at the operating result. |
Revenue recognition |
Revenue is derived from a contract with the commissioning distributor and is recognised upon final delivery of the commissioned film. Final delivery is the point at which the film is available for theatrical release. |
Film tax credits due are recognised within other operating income. These are received as credits against eligible expenses incurred on the production of the film. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was NIL. |
4. | STOCKS |
£ |
Work-in-progress |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Other debtors |
Studio Magic Films Ltd (Registered number: 13599402) |
Notes to the Financial Statements - continued |
for the Period 1 April 2022 to 30 September 2023 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Trade creditors |
Other creditors |
Accrued expenses |
7. | ULTIMATE CONTROLLING PARTY |
The director L D Kalgutkar is the ultimate controlling party owing to his majority shareholding. |