Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312023-04-01falseMotion picture production activities00falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 14100202 2023-04-01 2024-03-31 14100202 2022-05-11 2023-03-31 14100202 2024-03-31 14100202 2023-03-31 14100202 c:Director1 2023-04-01 2024-03-31 14100202 d:CurrentFinancialInstruments 2024-03-31 14100202 d:CurrentFinancialInstruments 2023-03-31 14100202 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 14100202 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 14100202 d:ShareCapital 2024-03-31 14100202 d:ShareCapital 2023-03-31 14100202 d:RetainedEarningsAccumulatedLosses 2024-03-31 14100202 d:RetainedEarningsAccumulatedLosses 2023-03-31 14100202 c:OrdinaryShareClass1 2023-04-01 2024-03-31 14100202 c:OrdinaryShareClass1 2024-03-31 14100202 c:OrdinaryShareClass1 2023-03-31 14100202 c:FRS102 2023-04-01 2024-03-31 14100202 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 14100202 c:FullAccounts 2023-04-01 2024-03-31 14100202 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 14100202 e:PoundSterling 2023-04-01 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 14100202










PACIFIC WORLDWIDE FILMS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
PACIFIC WORLDWIDE FILMS LIMITED
REGISTERED NUMBER: 14100202

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

  

Current assets
  

Stocks
 4 
6,206,289
5,750,369

Debtors: amounts falling due within one year
 5 
88,024
105,506

Cash at bank and in hand
 6 
14,651
27,097

  
6,308,964
5,882,972

Creditors: amounts falling due within one year
 7 
(6,355,164)
(5,917,075)

Net current liabilities
  
 
 
(46,200)
 
 
(34,103)

Total assets less current liabilities
  
(46,200)
(34,103)

  

Net liabilities
  
(46,200)
(34,103)


Capital and reserves
  

Called up share capital 
 8 
100
100

Profit and loss account
  
(46,300)
(34,203)

  
(46,200)
(34,103)


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 his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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: 



B Khan
Director

Date: 29 April 2025

The notes on pages 2 to 4 form part of these financial statements.

Page 1

 
PACIFIC WORLDWIDE FILMS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

The company Pacific Worldwide Films Limited was incorporated in England and Wales on 11 May 2022 and started trading on the same date.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Profit and loss account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.3

Revenue

Revenue is derived from a contract with the commissioning distributor and it is recognised upon final delivery of the commissioned film. Final delivery is the point at which the film is available for theatrical release.
Film tax credits due are recognised within other operating income. These are received as a credit against eligible expenditure incurred on the production of the film.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 2

 
PACIFIC WORLDWIDE FILMS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

  
2.5

Stocks

Production costs incurred during the period are recognised as work in progress on the balance sheet until the film is delivered to the commissioning distributor.
Upon delivery of the film, it is acquired by the commissioning distributor and the production costs are then charged to the profit and loss account as cost of sales.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees




The Company has no employees other than the directors, who did not receive any remuneration (2023 - £NIL).


4.


Stock and work in progress

2024
2023
£
£

Production costs
6,206,289
5,750,369

6,206,289
5,750,369


Page 3

 
PACIFIC WORLDWIDE FILMS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Debtors

2024
2023
£
£


Other debtors
88,024
105,406

Called up share capital not paid
-
100

88,024
105,506



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
14,651
27,097

Less: bank overdrafts
(153,303)
-

(138,652)
27,097



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
153,303
-

Trade creditors
4,272
218,932

Other creditors
5,979,949
5,671,143

Accruals
217,640
27,000

6,355,164
5,917,075



8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary shares of £1 each
100
100



9.


Controlling party

Mr B Khan is the ultimate controlling party owing to his majority shareholding.


Page 4