Registered number: 03796787
FRIEDMAN PRODUCTIONS LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
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FRIEDMAN PRODUCTIONS LIMITED
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CONTENTS
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Notes to the financial statements
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FRIEDMAN PRODUCTIONS LIMITED
REGISTERED NUMBER:03796787
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BALANCE SHEET
AS AT 30 APRIL 2024
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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1
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FRIEDMAN PRODUCTIONS LIMITED
REGISTERED NUMBER:03796787
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BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2024
The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 3 to 6 form part of these financial statements.
2
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FRIEDMAN PRODUCTIONS LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
Friedman Productions Limited is a private company, limited by shares, registered in England and Wales, registration number 03796787. The registered office address is Elsley Court, 20-22 Great Titchfield Street, London, W1W 8BE.
The principal activity of the company continued to be that of a theatre production company.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The company's functional and presentational currency is pound sterling.
The following principal accounting policies have been applied:
Turnover comprises of revenue recognised by the company to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured.
Turnover consist of amounts receivable for royalty income and profit shares and is measured at fair value of the consideration received or receivable, excluding value added tax.
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.
Investments in subsidiaries are measured at cost less accumulated impairment.
Investments in unlisted company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Profit and loss account for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.
Short-term debtors are measured at transaction price, less any impairment.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
3
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FRIEDMAN PRODUCTIONS LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
2.Accounting policies (continued)
Short-term creditors are measured at the transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from other third parties, loans to and from related parties and investments in ordinary shares.
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The average monthly number of employees, including the director, during the year was 1 (2023 - 1).
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Investments in subsidiary companies
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Other fixed asset investments
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At 1 May 2023 (as previously stated)
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At 1 May 2023 (as restated)
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At 30 April 2023 (as restated)
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4
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FRIEDMAN PRODUCTIONS LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
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The following were subsidiary undertakings of the company:
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Friedman Productions (US), Inc.
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Friedman Productions (US), Inc was dissolved on 9 October 2024.
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Amounts owed by group undertakings
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Cash and cash equivalents
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Creditors: Amounts falling due within one year
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Other taxation and social security
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5
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FRIEDMAN PRODUCTIONS LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
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Allotted, called up and fully paid
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2 (2023 - 2) Ordinary shares of £1.00 each
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Fixed asset investments were previously presented as current asset investments. The comparatives in the accounts have been adjusted to reclassify £480,245 as fixed asset investments. This had no impact to the profit of the company.
Current asset investments in prior year were understated by £77,956 recognised previously in exchange losses. The comparatives in the accounts have been adjusted to present correct amount of fixed assets investments, following reclassification mentioned in first paragraph. This resulted in an increase to the prior period’s profit by the same amount.
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Related party transactions
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No disclosure has been made of transactions with other wholly owned group companies in accordance with FRS 102 Section 1A paragraph 1AC.35.
At the year end, included within other creditors, is an amount of £1,730,122 (2023 - £2,492,606) due to the director. The loan is interest free and repayable on demand.
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6
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