IRIS Accounts Production v24.3.0.553 13599402 director 1.4.22 30.9.23 30.9.23 0 false true false false true false 0 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh135994022022-03-31135994022023-09-30135994022022-04-012023-09-30135994022022-03-3113599402ns15:EnglandWales2022-04-012023-09-3013599402ns14:PoundSterling2022-04-012023-09-3013599402ns10:Director12022-04-012023-09-3013599402ns10:PrivateLimitedCompanyLtd2022-04-012023-09-3013599402ns10:SmallEntities2022-04-012023-09-3013599402ns10:AuditExempt-NoAccountantsReport2022-04-012023-09-3013599402ns10:SmallCompaniesRegimeForDirectorsReport2022-04-012023-09-3013599402ns10:SmallCompaniesRegimeForAccounts2022-04-012023-09-3013599402ns10:FullAccounts2022-04-012023-09-3013599402ns10:RegisteredOffice2022-04-012023-09-3013599402ns10:Director22022-04-012023-09-3013599402ns5:CurrentFinancialInstruments2023-09-3013599402ns5:ShareCapital2023-09-3013599402ns5:RetainedEarningsAccumulatedLosses2023-09-30
REGISTERED NUMBER: 13599402 (England and Wales)















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: L D Kalgutkar





REGISTERED OFFICE: 2 Communications Road
Greenham Business Park
Newbury
Berkshire
RG19 6AB





REGISTERED NUMBER: 13599402 (England and Wales)






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:

V K Gulwani - resigned 29 September 2023
L D Kalgutkar - appointed 29 September 2023

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:





L D Kalgutkar - Director


20 February 2025

Studio Magic Films Ltd (Registered number: 13599402)

Income Statement
for the Period 1 April 2022 to 30 September 2023

£   

TURNOVER -

Administrative expenses 3,576
OPERATING LOSS and
LOSS BEFORE TAXATION (3,576 )

Tax on loss -
LOSS FOR THE FINANCIAL
PERIOD

(3,576

)

Studio Magic Films Ltd (Registered number: 13599402)

Balance Sheet
30 September 2023

Notes £   
CURRENT ASSETS
Stocks 4 2,404,773
Debtors 5 938
Cash at bank 280
2,405,991
CREDITORS
Amounts falling due within one year 6 2,409,467
NET CURRENT LIABILITIES (3,476 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(3,476

)

CAPITAL AND RESERVES
Called up share capital 100
Retained earnings (3,576 )
SHAREHOLDERS' FUNDS (3,476 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006.

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 have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the director and authorised for issue on 20 February 2025 and were signed by:





L D Kalgutkar - Director


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 private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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 2,404,773

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Other debtors 938

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 2,331,957
Other creditors 74,510
Accrued expenses 3,000
2,409,467

7. ULTIMATE CONTROLLING PARTY

The director L D Kalgutkar is the ultimate controlling party owing to his majority shareholding.