Caseware UK (AP4) 2023.0.135 2023.0.135 2024-10-312024-10-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2024-01-01falseNo description of principal activity122truetruefalse 13692222 2024-01-01 2024-10-31 13692222 2022-11-01 2023-12-31 13692222 2024-10-31 13692222 2023-12-31 13692222 c:Director2 2024-01-01 2024-10-31 13692222 d:CurrentFinancialInstruments 2024-10-31 13692222 d:CurrentFinancialInstruments 2023-12-31 13692222 d:CurrentFinancialInstruments d:WithinOneYear 2024-10-31 13692222 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 13692222 d:ShareCapital 2024-10-31 13692222 d:ShareCapital 2023-12-31 13692222 d:RetainedEarningsAccumulatedLosses 2024-10-31 13692222 d:RetainedEarningsAccumulatedLosses 2023-12-31 13692222 c:FRS102 2024-01-01 2024-10-31 13692222 c:AuditExempt-NoAccountantsReport 2024-01-01 2024-10-31 13692222 c:FullAccounts 2024-01-01 2024-10-31 13692222 c:PrivateLimitedCompanyLtd 2024-01-01 2024-10-31 13692222 e:PoundSterling 2024-01-01 2024-10-31 iso4217:GBP xbrli:pure

Registered number: 13692222









ISLINGTON FILMS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 OCTOBER 2024

 
ISLINGTON FILMS LIMITED
REGISTERED NUMBER: 13692222

STATEMENT OF FINANCIAL POSITION
AS AT 31 OCTOBER 2024

31 October
31 December
2024
2023
Note
£
£

  

Current assets
  

Stocks
 4 
-
2,173,585

Debtors: amounts falling due within one year
 5 
769,367
529,747

Cash at bank and in hand
 6 
152,338
600,925

  
921,705
3,304,257

Creditors: amounts falling due within one year
 7 
(921,605)
(3,308,278)

Net current assets/(liabilities)
  
 
 
100
 
 
(4,021)

Total assets less current liabilities
  
100
(4,021)

  

Net assets/(liabilities)
  
100
(4,021)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
-
(4,121)

  
100
(4,021)


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.
 
Page 1

 
ISLINGTON FILMS LIMITED
REGISTERED NUMBER: 13692222
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 OCTOBER 2024


The Company has opted not to file the statement of income and retained earnings 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 on 19 February 2025.



R Fielding
Director

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

Page 2

 
ISLINGTON FILMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2024

1.


General information

Islington Films Limited is a private company limited by shares and registered in England and Wales.  The address of its registered office is 339 Upper Street, London, N1 0PB.

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

Revenue

Revenue comprises distribution revenue receivable and is recognised in the Statement of Income
and Retained Earnings in the period it is contractually due. Where revenue received exceeds costs
incurred to date and profits are not anticipated, the balance is treated as deferred income and held
on the Statement of Financial Position until further costs are incurred or profits anticipated. At this
point the deferred income is released to the Statement of Income and Retained Earnings. 

 
2.3

Taxation

Tax is recognised in the Statement of Income and Retained Earnings. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.
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.

 
2.4

Stocks

Stocks comprise film production costs, which are recorded as a current asset net of the relevant tax credit. Film production costs are amortised to the Statement of Income and Retained Earnings over the period in which rights to the relevant production are being exploited by the Company.

 
2.5

Debtors

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

 
2.6

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.

 
2.7

Creditors

Short term creditors are measured at the transaction price.

Page 3

 
ISLINGTON FILMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.8

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.


3.


Employees




The average monthly number of employees, including directors, during the period was 12 (2023 - 2).


4.


Stocks

31 October
31 December
2024
2023
£
£

Production Cost
-
2,173,585

-
2,173,585


Page 4

 
ISLINGTON FILMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2024

5.


Debtors

31 October
31 December
2024
2023
£
£


Trade debtors
113,160
-

Other debtors
58,901
-

Prepayments and accrued income
57,347
-

Tax recoverable
539,959
529,747

769,367
529,747



6.


Cash and cash equivalents

31 October
31 December
2024
2023
£
£

Cash at bank and in hand
152,338
600,925

152,338
600,925



7.


Creditors: Amounts falling due within one year

31 October
31 December
2024
2023
£
£

Trade creditors
840
8,250

Amounts owed to group undertakings
353,552
-

Other taxation and social security
924
96,028

Other creditors
352,110
20,000

Accruals and deferred income
214,179
3,184,000

921,605
3,308,278



8.


Controlling party

During the period the immediate parent undertaking was Lupus Films Limited, a company incorporated in England.  The ultimate controlling party is the directors.

 
Page 5