Registration number:
Three River Fiction Limited
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Three River Fiction Limited
Contents
Company Information |
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Statement of Financial Position |
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Notes to the Unaudited Financial Statements |
Three River Fiction Limited
Company Information
Directors |
S Maher J J W Drake |
Registered office |
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Accountants |
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Three River Fiction Limited
Statement of Financial Position as at 31 May 2024
Note |
2024 |
2023 |
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Fixed assets |
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Tangible assets |
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- |
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Current assets |
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Stocks |
- |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Net liabilities |
( |
( |
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Capital and reserves |
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Called up share capital |
200 |
200 |
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Retained earnings |
(130,464) |
(273,378) |
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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:
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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’.
Approved and authorised by the
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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
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
The principal activity of the company is that of the production and distribution of television programmes.
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
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.
Staff numbers |
The average number of persons employed by the company during the year, was
Three River Fiction Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024
Profit before tax |
Arrived at after charging/(crediting)
2024 |
2023 |
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Depreciation expense |
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- |
Tangible assets |
Fixtures and fittings |
Total |
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Cost or valuation |
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At 1 June 2023 |
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Additions |
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At 31 May 2024 |
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Depreciation |
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At 1 June 2023 |
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Charge for the year |
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At 31 May 2024 |
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Carrying amount |
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At 31 May 2024 |
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Stocks |
2024 |
2023 |
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Work in progress |
- |
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Debtors |
Note |
2024 |
2023 |
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Trade debtors |
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Amounts owed by group undertakings |
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- |
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Other debtors |
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Three River Fiction Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024
Creditors |
Creditors: amounts falling due within one year
2024 |
2023 |
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Trade creditors |
( |
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Amounts owed to group undertakings |
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Taxation and social security |
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Other creditors |
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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.
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.