Company registration number 14843237 (England and Wales)
GOLDEN BIRCH LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2024
PAGES FOR FILING WITH REGISTRAR
GOLDEN BIRCH LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
GOLDEN BIRCH LTD
BALANCE SHEET
- 1 -
2024
Notes
£
£
Current assets
Debtors
3
986,629
Cash at bank and in hand
162,123
1,148,752
Creditors: amounts falling due within one year
4
(1,857,246)
Net current liabilities
(708,494)
Capital and reserves
Called up share capital
1
Profit and loss reserves
(708,495)
Total equity
(708,494)
For the financial Period ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit of its financial statements for the Period in question in accordance with section 476.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved and signed by the director and authorised for issue on 1 May 2025
Mr M Lane
Director
Company registration number 14843237 (England and Wales)
GOLDEN BIRCH LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2024
- 2 -
1
Accounting policies
Company information
Golden Birch Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 22 Friars Street, Sudbury, Suffolk, CO10 2AA.
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 disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
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, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2
Turnover
Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.
When cash inflows are deferred and represent a financing arrangement, the promised consideration is adjusted for the effects of the time value of money, which is recognised as interest income.
The nature, timing of satisfaction of performance obligations and significant payment terms of the company's major sources of revenue are as follows:
Revenue represents funds raised towards film production and other income received to be used for the purpose of the film production of the company.
1.3
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.
1.4
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
GOLDEN BIRCH LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MAY 2024
- 3 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the Period was:
2024
Number
Total
100
3
Debtors
2024
Amounts falling due within one year:
£
Other debtors
986,629
4
Creditors: amounts falling due within one year
2024
£
Trade creditors
18,582
Other creditors
1,838,664
1,857,246
5
Going concern
The director considers the company to be a going concern on the basis that;
a. funding has been provided by an investor subsequent to the year end to assist with cash flow.
b. there are costs incurred which are likely to be covered by an insurance claim. This process has only
been commenced by the Insurers in 2025 and the exact amount is unknown.
c. a Film Tax Credit claim will be made for a tax refund which may be substantial.