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REGISTERED NUMBER: 12773625 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 July 2024

for

Myskatonic Ltd

Myskatonic Ltd (Registered number: 12773625)

Contents of the Financial Statements
for the Year Ended 31 July 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Certified Accountant's Report 5

Myskatonic Ltd

Company Information
for the Year Ended 31 July 2024







DIRECTORS: R J Mackfall
K Marshall





REGISTERED OFFICE: Propagation Studio No 5
Potager Garden
High Cross, Constantine
Falmouth
Cornwall
TR11 5RF





REGISTERED NUMBER: 12773625 (England and Wales)





ACCOUNTANT: Martin Laity Accounting & Tax Practitioner
Kelyn
Old Hill
Helston
Cornwall
TR13 8HT

Myskatonic Ltd (Registered number: 12773625)

Balance Sheet
31 July 2024

2024 2023
Notes £    £   
CURRENT ASSETS
Stocks 4,624 4,424
Debtors 4 5,000 -
Cash at bank and in hand 378 439
10,002 4,863
CREDITORS
Amounts falling due within one year 5 8,477 6,494
NET CURRENT ASSETS/(LIABILITIES) 1,525 (1,631 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,525

(1,631

)

CAPITAL AND RESERVES
Called up share capital 300 300
Retained earnings 1,225 (1,931 )
1,525 (1,631 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 April 2025 and were signed on its behalf by:





R J Mackfall - Director


Myskatonic Ltd (Registered number: 12773625)

Notes to the Financial Statements
for the Year Ended 31 July 2024


1. STATUTORY INFORMATION

Myskatonic Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
The Directors are optimistic and have reasonable expectations that the company will be able to obtain further funding for planned projects and operations over the next 12 months.

The Directors are the main creditors to the company and will continue their support for the foreseeable future.

Therefore, the Directors believe that the adoption of the going concern basis of accounting is still appropriate in preparing the financial statements.

Turnover
Turnover generated from licensing arrangements and disposal of rights is recognised based on the substance of the contractual terms.

Turnover from film projects is recognised based on the stage of completion, determined by reference to the costs incurred as proportion of the total projected costs, but only where it is reasonably possible to determine an income stream. Otherwise incomes will recognised where the company obtains a right to receive consideration.

Stocks
Work in progress represents the production costs incurred on specific film projects, net of any matched grant funding received.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Myskatonic Ltd (Registered number: 12773625)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024


2. ACCOUNTING POLICIES - continued

Grants
Grants received for film production costs are of a revenue nature and matched to the corresponding expenditure in the period. Any deferred amounts are carried forward in other other creditors as deferred income.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 5,000 -

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 287 -
Other creditors 8,190 6,494
8,477 6,494

6. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

There were no advances, credit facilities or guarantees in favour of the Directors during the period.

Directors Loan Accounts are non-interest bearing and repayable upon demand.

Chartered Certified Accountant's Report to the Board of Directors
on the Unaudited Financial Statements of
Myskatonic Ltd


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the financial statements of Myskatonic Ltd for the year ended 31 July 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given me.

As a practising member of the Association of Chartered Certified Accountants, I am subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Myskatonic Ltd, as a body, in accordance with my terms of engagement. My work has been undertaken solely to prepare for your approval the financial statements of Myskatonic Ltd and state those matters that I have agreed to state to the Board of Directors of Myskatonic Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at
https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/tf-163-jan-24.pdf.

To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for my work or for this report.

It is your duty to ensure that Myskatonic Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Myskatonic Ltd. You consider that Myskatonic Ltd is exempt from the statutory audit requirement for the year.

I have not been instructed to carry out an audit or a review of the financial statements of Myskatonic Ltd. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements.






Martin Laity Accounting & Tax Practitioner
Kelyn
Old Hill
Helston
Cornwall
TR13 8HT


28 April 2025