COMPANY REGISTRATION NUMBER:
10400387
Filleted Unaudited Financial Statements |
|
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
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