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COMPANY REGISTRATION NUMBER: 09109364
Florence Film Limited
Filleted Unaudited Accounts
30 November 2024
Florence Film Limited
Statement of Financial Position
30 November 2024
2024
2023
Note
£
£
£
Current assets
Debtors
5
1
172,138
Cash at bank and in hand
12,678
----
---------
1
184,816
Creditors: amounts falling due within one year
6
( 184,815)
----
---------
Net current assets
1
1
----
----
Total assets less current liabilities
1
1
----
----
Net assets
1
1
----
----
Capital and reserves
Called up share capital
7
1
1
----
----
Shareholders funds
1
1
----
----
These accounts 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 year ending 30 November 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 accounts 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 accounts .
These accounts were approved by the board of directors and authorised for issue on 10 March 2025 , and are signed on behalf of the board by:
M A Kuhn
Director
Company registration number: 09109364
Florence Film Limited
Notes to the Accounts
Year ended 30 November 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 Qwerty Films, 1st Floor, 5 Fleet Place, London, EC4M 7RD, United Kingdom.
2. Statement of compliance
These accounts 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 accounts 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 accounts are prepared in sterling, which is the functional currency of the entity.
Significant estimation technique adopted
Accruals are estimated by reference to purchase orders raised at the period end and estimates to complete. Payments received on account are estimated by reference to percentage of completion of the television production, as noted in "Turnover" above.
Revenue recognition
Turnover relates to the production of the film entitled "Florence Foster Jenkins". It represents the value of the work done in the period, including estimates of amounts not invoiced and is stated after trade discounts, other taxes and net of VAT.
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.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
4. Particulars of employees
The company has been incorporated to produce a film called "Florence Foster Jenkins". In common with the film and television industry the majority of crew are hired on short term contracts for the duration of principal photography or are self-employed.
None of the Directors received any form of remuneration.
5. Debtors
2024
2023
£
£
Prepayments and accrued income
1
143,448
Corporation tax recoverable
28,690
----
---------
1
172,138
----
---------
6. Creditors: amounts falling due within one year
2024
2023
£
£
Accruals and deferred income
184,815
----
---------
7. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
1
1
1
1
----
----
----
----
8. Contingent liabilities
Charges have been made against the film in favour of the following parties to secure their interests in the copyright of and title to the film: British Broadcasting Corporation Pathe Productions Limited
9. Related party transactions
The company was under the control of M Kuhn the sole director throughout the current period. The company was a wholly owned subsidiary of Qwerty Films Ltd throughout the period. The company has taken advantage of Section 33 of FRS 102 from disclosing transactions entered into between two or more members of a group, where any subsidiary undertaking which is a party to the transaction is wholly owned by a member of that group. No further transactions with related parties were undertaken such as are required to be disclosed under FRS 102.
10. Controlling party
In the opinion of the directors the immediate parent undertaking is Qwerty Films Limited, a company incorporated in England and Wales. The ultimate parent undertaking is J3 Media Limited, a company incorporated in England and Wales.