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COMPANY REGISTRATION NUMBER: 09633563
Salusbury Films Limited
Filleted Unaudited Financial Statements
30 June 2024
Salusbury Films Limited
Statement of Financial Position
30 June 2024
2024
2023
Note
£
£
Fixed assets
Investments
5
51
30,051
Current assets
Debtors
6
361
361
Cash at bank and in hand
35,493
64,100
--------
--------
35,854
64,461
Creditors: amounts falling due within one year
7
32,658
67,293
--------
--------
Net current assets/(liabilities)
3,196
( 2,832)
-------
--------
Total assets less current liabilities
3,247
27,219
-------
--------
Net assets
3,247
27,219
-------
--------
Capital and reserves
Called up share capital
400
400
Profit and loss account
2,847
26,819
-------
--------
Shareholders funds
3,247
27,219
-------
--------
These financial statements 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 comprehensive income has not been delivered.
For the year ending 30 June 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 financial statements 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 financial statements .
Salusbury Films Limited
Statement of Financial Position (continued)
30 June 2024
These financial statements were approved by the board of directors and authorised for issue on 14 February 2025 , and are signed on behalf of the board by:
Mr N Bower
Director
Company registration number: 09633563
Salusbury Films Limited
Notes to the Financial Statements
Year ended 30 June 2024
1. General information
The company is a private company limited by shares, incorporated in England and Wales. The address of the registered office is 99 Kenton Road, Kenton, Harrow, Middlesex, HA3 0AN and its principal place of business is at 28 Honiton Road, London, NW6 6QD. The company's registered number is 09633563 .
2. Statement of compliance
These financial statements 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 financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Judgements and key sources of estimation uncertainty
In the application of the Company's accounting policies, management are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from estimates. The director do not believe there are any key sources of estimation, uncertainty or critical judgements.
Revenue recognition
The company provides services as a producer or an executive producer to feature films and the turnover is recognised net of Value Added Tax when the fees are due.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Investments in subsidiary
Investments in subsidiary undertakings are recognised at cost less any accumulated impairment losses. Investments in subsidiaries accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the subsidiary arising before or after the date of acquisition.
Investments in joint ventures
Investments in joint ventures accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Investments
Shares in group undertakings
Shares in participating interests
Total
£
£
£
Cost
At 1 July 2023 and 30 June 2024
670,996
50
671,046
---------
----
---------
Impairment
At 1 July 2023
640,995
640,995
Revaluations
30,000
30,000
---------
----
---------
At 30 June 2024
670,995
670,995
---------
----
---------
Carrying amount
At 30 June 2024
1
50
51
---------
----
---------
At 30 June 2023
30,001
50
30,051
---------
----
---------
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
The subsidiaries and other investment are all incorporated in England and Wales and having the same registered office address as the parent company, except for Stargrove Pictures Limited, whose registered office address is 31, The Avenue, London, NW6 7NR.
Subsidiaries, associates and other investments
Class of share
Percentage of shares held
Subsidiary undertakings
Stargrove Pictures Limited
Ordinary
100
Salusbury Animation Limited
Ordinary
100
Other significant holdings
Riverstone Pictures Limited
Ordinary
50
6. Debtors
2024
2023
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
361
361
----
----
The amounts owed by group undertakings are unsecured, interest free and repayable on demand.
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
2,399
Corporation tax
28,259
35,293
Social security and other taxes
30,000
Other creditors
2,000
2,000
--------
--------
32,658
67,293
--------
--------
8. Related party transactions
The company has taken advantage of the exemption conferred by FRS 102 from disclosing details of transactions with other wholly owned group companies.
9. Controlling party
The company was considered to be under the control of Mr N Bower in the current and previous year.