Little A Productions Limited
Unaudited Financial Statements
For the year ended 31 December 2024
Pages for Filing with Registrar
Company Registration No. 10379796 (England and Wales)
Little A Productions Limited
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 6
Little A Productions Limited
Balance Sheet
As at 31 December 2024
Page 1
2024
2023
Notes
£
£
£
£
Current assets
Debtors
3
4,062,160
753,204
Cash at bank and in hand
23,585
157,946
4,085,745
911,150
Creditors: amounts falling due within one year
4
(1,405,108)
(981,660)
Net current assets/(liabilities)
2,680,637
(70,510)
Creditors: amounts falling due after more than one year
5
(2,595,640)
-
0
Net assets/(liabilities)
84,997
(70,510)
Capital and reserves
Called up share capital
6
10
10
Profit and loss reserves
84,987
(70,520)
Total equity
84,997
(70,510)

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 25 April 2025 and are signed on its behalf by:
T  Sealey
Director
Company Registration No. 10379796
Little A Productions Limited
Notes to the Financial Statements
For the year ended 31 December 2024
Page 2
1
Accounting policies
Company information

Little A Productions Limited is a private company limited by shares incorporated in England and Wales. The registered office is Bischheim House, 19-20 Berners Street, London, England, W1T 3NW.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the Directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the Directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

Turnover represents amounts receivable for services supplied during the year net of VAT. Where the

company has incomplete productions at the year end, income and expenditure for these productions is recognised so that it reflects the partial performance of the company's contractual obligations. For such productions, the amount of revenue reflects the value of the work performed. Revenue due but not received is included in debtors and payments on account in excess of the relevant amount of revenue due are included in creditors.

 

Advances received under distribution agreements are recognised as income over the distribution licence period. The amount of any advances not recoupable out of future income is recognised as income in the year. Non-refundable advances are recognised once initial contractual obligations have been fulfilled.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
33.3% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Little A Productions Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2024
1
Accounting policies
(Continued)
Page 3
1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Little A Productions Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2024
1
Accounting policies
(Continued)
Page 4
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.9
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.10

Audiovisual Expenditure Credit (AVEC)

The Audiovisual Expenditure Credit (AVEC) is recognised as taxable income in the profit and loss account under ‘Other Income’ in the period in which the qualifying expenditure is incurred, and when there is reasonable certainty over the receipt of the credit.

 

The AVEC is accounted for as part of the company’s tax position. Since the credit constitutes taxable income, a notional corporation tax charge is recognised in the same period, calculated at the applicable main rate of UK corporation tax.

 

This notional tax is not payable to HMRC and is therefore recognised as a current tax asset on the balance sheet, as it offsets the company's tax liability arising solely from the credit.

 

The net amount of the credit, after the notional tax charge, is recognised as a receivable from HMRC within current assets, and is settled in cash.

Little A Productions Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2024
Page 5
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
2
2
3
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
34,494
-
0
Corporation tax recoverable
727,498
676,959
Other debtors
352,718
76,245
Prepayments and accrued income
2,756,700
-
0
3,871,410
753,204
2024
2023
Amounts falling due after more than one year:
£
£
Deferred tax asset
190,750
-
0
Total debtors
4,062,160
753,204
4
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
93,880
214,236
Amounts owed to group undertakings
1,273,181
644,099
Corporation tax
2,948
-
0
Other taxation and social security
7,424
-
0
Accruals and deferred income
27,675
123,325
1,405,108
981,660
Little A Productions Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2024
Page 6
5
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
2,595,640
-
There is a fixed and floating charge over the company's assets held by Coutts & Company.
6
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of 1p each
1,000
1,000
10
10
7
Related party transactions

The company has taken advantage of the exemption available under FRS 102 section 33 Related party

disclosures not to disclose transactions with other wholly owned group companies.

8
Parent company

The immediate and ultimate parent company is Roughcut Television Limited, a company incorporated in England and Wales.

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