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COMPANY REGISTRATION NUMBER: 10400387
1803 Films Limited
Filleted Unaudited Financial Statements
17 May 2024
1803 Films Limited
Statement of Financial Position
17 May 2024
17 May 24
7 Dec 22
Note
£
£
Current assets
Stocks
14,192,826
Debtors
4
5,183
386,305
Cash at bank and in hand
4,650
2,071
-------
-------------
9,833
14,581,202
Creditors: amounts falling due within one year
5
42,416
14,613,785
--------
-------------
Net current liabilities
32,583
32,583
--------
--------
Total assets less current liabilities
( 32,583)
( 32,583)
--------
--------
Net liabilities
( 32,583)
( 32,583)
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 32,683)
( 32,683)
--------
--------
Shareholders deficit
( 32,583)
( 32,583)
--------
--------
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 income and retained earnings has not been delivered.
For the period ending 17 May 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 period 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 .
These financial statements were approved by the board of directors and authorised for issue on 27 February 2025 , and are signed on behalf of the board by:
Mr Chris Hardman
Director
Company registration number: 10400387
1803 Films Limited
Notes to the Financial Statements
Period from 8 December 2022 to 17 May 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 7a Victoria Road South, Southsea, PO5 2DD, England.
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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The financial statements have been prepared on a going concern basis on the assumption that there will be continued financial support from the company's creditors.
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.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
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. Debtors
17 May 24
7 Dec 22
£
£
Other debtors
5,183
386,305
-------
---------
5. Creditors: amounts falling due within one year
17 May 24
7 Dec 22
£
£
Trade creditors
309,915
Social security and other taxes
8,726
132,254
Other creditors
33,690
14,171,616
--------
-------------
42,416
14,613,785
--------
-------------
6. Other operating income
Other operating income comprises of production advances written off.
7. Contingencies
Charges have been made against the company's assets including its rights, title and interest in and to the film, in favour of the following entities who have advanced funds to finance film production costs: - SMC Specialty Finance LLC - Wilshire Financial Group Inc. - Media Finance Capital Alpha Limited - LIP Sync Productions LLP