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Registration number: 08550790

Raid Production Ltd

Unaudited Financial Statements

for the Year Ended 31 May 2024

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

Raid Production Ltd

Contents

Company Information

1

Statement of Financial Position

2

Notes to the Unaudited Financial Statements

3 to 5

 

Raid Production Ltd

Company Information

Director

J J W Drake

Registered office

24 Lady Place
Sutton Courtenay
Abingdon
OX14 4FB

Accountants

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

Raid Production Ltd

Statement of Financial Position as at 31 May 2024

Note

2024
£

2023
£

Current assets

 

Debtors

4

87,338

58,331

Cash at bank and in hand

 

722

74

 

88,060

58,405

Creditors: Amounts falling due within one year

5

(175,188)

(129,690)

Net liabilities

 

(87,128)

(71,285)

Capital and reserves

 

Called up share capital

1

1

Retained earnings

(87,129)

(71,286)

Shareholders' deficit

 

(87,128)

(71,285)

For the financial year ending 31 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 accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

The director has elected not to include a copy of the Income Statement within the financial statements, in accordance with the special provisions relating to companies subject to the small companies regime within the Companies Act 2006, section 444.

Approved and authorised by the director on 20 March 2025
 

.........................................

J J W Drake

Director

Company registration number:08550790

 

Raid Production Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
24 Lady Place
Sutton Courtenay
Abingdon
OX14 4FB

The principal activity of the company is that of the production of television programmes.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' Section 1A and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Summary of significant accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Going concern

The company made a loss for the year and had net liabilities at 31 May 2024 of £87,128. At that date an amount of £89,003 was due to group undertakings who have agreed to support the company and not call for repayment until such time as the company has adequate working capital.

After making enquiries, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, he continues to adopt the going concern basis in preparing the financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of production services in the ordinary course of the company's activities. Turnover is shown net of value added tax, rebates and discounts.

The company recognises turnover from the production and distribution of television programmes based on the contractual stage of completion.

 

Raid Production Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

3

Staff numbers

The average number of persons employed by the company during the year, was 0 (2023 - 0).

 

Raid Production Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

4

Debtors

2024
£

2023
£

Trade debtors

5,732

2,200

Amounts owed by group undertakings

2,746

366

Other debtors

78,860

55,765

 

87,338

58,331

5

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Loans and borrowings

63,187

-

Trade creditors

13,498

43,708

Amounts owed to group undertakings

89,003

70,983

Other creditors

9,500

14,999

175,188

129,690

6

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Other borrowings

63,187

-

The Other borrowings are secured by fixed and floating charges over tax credits due to the company and future sums receivable in respect of an ongoing production.

7

Related party transactions

In accordance with FRS 102 paragraph 1AC.35, exemption is taken not to disclose transactions in the year or amounts falling due between wholly owned group undertakings.

8

Film and television rights

At 31 May 2024 the company held rights to multiple ongoing revenue streams for completed film and television projects. The director believes that the net present value of associated future cash flows is £98,182. In accordance with accounting standards, this amount is not reflected on the Statement of Financial Position.