Company Registration No. 06494861 (England and Wales)
Old See Saw Films Limited
Unaudited financial statements
for the year ended 30 June 2024
Pages for filing with the registrar
Old See Saw Films Limited
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 8
Old See Saw Films Limited
Balance sheet
As at 30 June 2024
1
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
4
285,129
285,129
Current assets
Debtors
7
1,622,692
1,759,186
Cash at bank and in hand
110,767
18,791
1,733,459
1,777,977
Creditors: amounts falling due within one year
8
(1,114,336)
(1,293,143)
Net current assets
619,123
484,834
Net assets
904,252
769,963
Capital and reserves
Called up share capital
9
1
1
Profit and loss reserves
10
904,251
769,962
Total equity
904,252
769,963

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 27 March 2025 and are signed on its behalf by:
Emile Sherman
Director
Company Registration No. 06494861
Old See Saw Films Limited
Notes to the financial statements
For the year ended 30 June 2024
2
1
Accounting policies
Company information

Old See Saw Films Limited is a private company limited by shares incorporated in England and Wales. The registered office is 3rd Floor, 45 Folgate Street, London, E1 6GL.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The company balance sheet shows net trueassets as at 30 June 2024 of £904,252. The directors have pledged to support the company for 12 months from the date of their approval of these financial statements. Given the net asset position and this support, the directors consider it appropriate to prepare the financial statements on a going concern basis.

1.3
Turnover

The turnover shown in the profit and loss account represents amounts receivable in respect of its share of exploitation income from productions made in prior years, exclusive of Value Added Tax.

1.4
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Old See Saw Films Limited
Notes to the financial statements (continued)
For the year ended 30 June 2024
1
Accounting policies (continued)
3
Basic financial assets

Basic financial assets, which include debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

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 company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Taxation

The tax expense represents the tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Old See Saw Films Limited
Notes to the financial statements (continued)
For the year ended 30 June 2024
1
Accounting policies (continued)
4
1.10
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

1.11
Consolidation
The accounts present information about Old See Saw Films Limited as an individual company and do not contain consolidated financial information for Old See Saw Films Limited as the parent of the UK group. The Company has taken advantage of Section 399 of Companies Act 2006 whereby it is exempt from the requirement to prepare group accounts as it is a small group.
2
Critical accounting judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

 

In the directors' opinion there are no critical judgements or key areas of estimation uncertainty in the financial statements.

3
Employees

The average monthly number of persons (excluding directors) employed by the company during the year was:

2024
2023
Number
Number
Total
-
0
-
0
4
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
129
129
Other investments other than loans
285,000
285,000
285,129
285,129
Old See Saw Films Limited
Notes to the financial statements (continued)
For the year ended 30 June 2024
5
5
Subsidiaries

These financial statements are separate company financial statements for Old See Saw Films Limited.

Details of the company's subsidiaries at 30 June 2024 are as follows:

Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Indirect
57 Nights Limited
UK
Ordinary
70.00
-
Cross City Sales Limited
UK
Ordinary
100.00
-
Mother of Four Films Limited
UK
Ordinary
70.00
-
New Amsterdam Film Limited
UK
Ordinary
100.00
-
Speaking Film Limited
UK
Ordinary
100.00
-
Speaking Film Productions Limited
UK
Ordinary
100.00
-

The balance of other unlisted investments relates to a Limited Liability Partnership agreement between the company and SSUK Distribution LLP.

 

The information above is based on the latest available accounts filed to Companies House.

 

Under the provision of Section 399 of the Companies Act 2006 the company is exempt from preparing consolidated accounts and has not done so. Therefore the accounts show information about the company as an individual entity.

6
Associates

Details of the company's associates at 30 June 2024 are as follows:

Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Indirect
Confession TV Limited
*
Ordinary
50.00
-
Colony Films Limited
*
Ordinary
50.00
-
Haversack Films Limited
*
Ordinary
50.00
-
Slow West Films Limited
*
Ordinary
50.00
-
Vague Films Limited
*
Ordinary
50.00
-
* 3rd Floor Folgate Street, London, E1 6GL
7
Debtors
2024
2023
Amounts falling due within one year:
£
£
Corporation tax recoverable
-
0
684
Amounts owed by group undertakings
1,496,376
934,217
Other debtors
126,316
824,285
1,622,692
1,759,186
Old See Saw Films Limited
Notes to the financial statements (continued)
For the year ended 30 June 2024
6
8
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
4,650
6,600
Amounts owed to group undertakings
1,104,182
1,280,935
Other creditors
5,504
5,608
1,114,336
1,293,143
9
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary share of £1 each
1
1
1
1
10
Profit and loss reserves
2024
2023
£
£
At the beginning of the year
769,962
712,690
Profit for the year
134,289
57,272
At the end of the year
904,251
769,962
Old See Saw Films Limited
Notes to the financial statements (continued)
For the year ended 30 June 2024
7
11
Related parties transactions
During the year, the following related party transactions took place:
57 Nights Limited
2024
£
Balance due to Old See Saw Films as at 1 July 2023
13,454
Expenses paid on behalf of company
1,675
Balance due to Old See Saw Films Limited at 30 June 2024
15,129
Mother of Four Films Limited
2024
£
Balance due to Old See Saw Films as at 1 July 2023
8,853
Expenses paid on behalf of company
1,675
Balance due to Old See Saw Films Limited at 30 June 2024
10,528
SSUK Distribution LLP
2024
£
Balance due from Old See Saw Films Limited as at 1 July 2023
(1,093,321)
Advances in the year
9,560
Partnership losses
(7,500)
Balance due from Old See Saw Films Limited at 30 June 2024
(1,091,261)
Old See Saw Films Limited is a designated member of SSUK Distribution LLP.
Old See Saw Films Limited
Notes to the financial statements (continued)
For the year ended 30 June 2024
11
Related parties transactions (continued)
8
See-Saw Films Limited
2024
£
Balance due to Old See Saw Films Limited as at 1 July 2023
698,924
Repayments made
(704,754)
Expenses paid on behalf of the company
5,830
Balance due to Old See Saw Films Limited as at 30 June 2024
-
12
Parent company

The immediate parent undertaking is Old See-Saw Films PTY Limited, a company incorporated in Australia with registered office at 2 Cascade Street, Paddington, New South Wales, Australia.

 

The directors do not consider there to be an ultimate controlling party.

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