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Registration number: 09068850

Three River Fiction Limited

Unaudited Financial Statements

for the Year Ended 31 May 2024

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

Three River Fiction Limited

Contents

Company Information

1

Statement of Financial Position

2

Notes to the Unaudited Financial Statements

3 to 6

 

Three River Fiction Limited

Company Information

Directors

S Maher

J J W Drake

Registered office

24 Lady Place
Sutton Courtenay
Abingdon
OX14 4FB

Accountants

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

Three River Fiction Limited

Statement of Financial Position as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

687

-

Current assets

 

Stocks

6

-

89,197

Debtors

7

37,181

25,927

Cash at bank and in hand

 

11,030

8,691

 

48,211

123,815

Creditors: Amounts falling due within one year

8

(179,162)

(396,993)

Net current liabilities

 

(130,951)

(273,178)

Net liabilities

 

(130,264)

(273,178)

Capital and reserves

 

Called up share capital

200

200

Retained earnings

(130,464)

(273,378)

Shareholders' deficit

 

(130,264)

(273,178)

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.

Directors' 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 directors acknowledge their 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 directors have 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 Board on 9 April 2025 and signed on its behalf by:
 

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

J J W Drake

Director

Company registration number: 09068850

 

Three River Fiction Limited

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 and distribution 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 profit for the year ended 31 May 2024 but had net liabilities at that date amounting to £130,264. At that date an amount of £167,648 was due to the parent undertaking and fellow subsidiaries. The group has agreed to continue to support the company and to not call for repayment until such time as the company has sufficient working capital.

The directors have considered the potential effect of the ongoing economic uncertainty and the directors’ view is that the impact remains manageable. The directors are mindful of the potential effects on the industry, and are taking prudent measures to minimise the impact on the company. With the resources that the group has, together with the current actions being taken, the directors consider the company has sufficient working capital.

On the basis of the above, and after making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the directors continue 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 services in the ordinary course of the company's activities in the period to which the services relate. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises turnover from production and distribution of television programmes based upon the contractual stage of completion once the company has an unconditional right to economic benefit.

 

Three River Fiction Limited

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.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company during the year, was 1 (2023 - 1).

 

Three River Fiction Limited

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

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

229

-

5

Tangible assets

Fixtures and fittings
£

Total
£

Cost or valuation

At 1 June 2023

726

726

Additions

916

916

At 31 May 2024

1,642

1,642

Depreciation

At 1 June 2023

726

726

Charge for the year

229

229

At 31 May 2024

955

955

Carrying amount

At 31 May 2024

687

687

6

Stocks

2024
£

2023
£

Work in progress

-

89,197

7

Debtors

Note

2024
£

2023
£

Trade debtors

 

3,000

18,994

Amounts owed by group undertakings

9

27,247

-

Other debtors

 

6,934

6,933

 

37,181

25,927

 

Three River Fiction Limited

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

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Trade creditors

(997)

85,246

Amounts owed to group undertakings

167,648

204,586

Taxation and social security

2,497

2,669

Other creditors

10,014

104,492

179,162

396,993

9

Transactions with directors

At 31 May 2024 an amount of £5,000 (2023: £5,000) was due from a director. No interest is payable to the company (2023: £Nil) and there are no agreed terms.

10

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 £193,771. In accordance with accounting standards, this amount is not reflected on the Statement of Financial Position.