Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-312024-12-312025-05-012024-01-01falseFilm production22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 08821734 2024-01-01 2024-12-31 08821734 2023-01-01 2023-12-31 08821734 2024-12-31 08821734 2023-12-31 08821734 c:Director1 2024-01-01 2024-12-31 08821734 c:Director1 2024-12-31 08821734 c:Director2 2024-01-01 2024-12-31 08821734 c:RegisteredOffice 2024-01-01 2024-12-31 08821734 d:FurnitureFittings 2024-01-01 2024-12-31 08821734 d:FurnitureFittings 2024-12-31 08821734 d:FurnitureFittings 2023-12-31 08821734 d:OfficeEquipment 2024-01-01 2024-12-31 08821734 d:PatentsTrademarksLicencesConcessionsSimilar 2024-01-01 2024-12-31 08821734 d:PatentsTrademarksLicencesConcessionsSimilar 2024-12-31 08821734 d:PatentsTrademarksLicencesConcessionsSimilar 2023-12-31 08821734 d:CurrentFinancialInstruments 2024-12-31 08821734 d:CurrentFinancialInstruments 2023-12-31 08821734 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 08821734 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 08821734 d:ShareCapital 2024-12-31 08821734 d:ShareCapital 2023-12-31 08821734 d:RetainedEarningsAccumulatedLosses 2024-12-31 08821734 d:RetainedEarningsAccumulatedLosses 2023-12-31 08821734 c:OrdinaryShareClass1 2024-01-01 2024-12-31 08821734 c:OrdinaryShareClass1 2024-12-31 08821734 c:OrdinaryShareClass1 2023-12-31 08821734 c:FRS102 2024-01-01 2024-12-31 08821734 c:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 08821734 c:FullAccounts 2024-01-01 2024-12-31 08821734 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 08821734 d:PatentsTrademarksLicencesConcessionsSimilar d:ExternallyAcquiredIntangibleAssets 2024-01-01 2024-12-31 08821734 2 2024-01-01 2024-12-31 08821734 d:PatentsTrademarksLicencesConcessionsSimilar d:OwnedIntangibleAssets 2024-01-01 2024-12-31 08821734 e:PoundSterling 2024-01-01 2024-12-31 xbrli:shares iso4217:GBP xbrli:pure


Registered number: 08821734












ACE ENTERTAINMENT FILMS UK LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

 

ACE ENTERTAINMENT FILMS UK LIMITED

CONTENTS



Page
Company information
 
1
Balance sheet
 
2
Notes to the financial statements
 
3 - 10

 

ACE ENTERTAINMENT FILMS UK LIMITED
 
COMPANY INFORMATION


Directors
J A Reygner-Kalfon-Ohanessian (resigned 1 February 2025)
S D Semon 




Registered number
08821734



Registered office
16 Great Queen Street
Covent Garden

London

WC2B 5AH




Accountants
Blick Rothenberg Limited
Chartered Accountants

16 Great Queen Street

Covent Garden

London

WC2B 5AH




Page 1


 
REGISTERED NUMBER:08821734
ACE ENTERTAINMENT FILMS UK LIMITED

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
280,843
336,472

Current assets
  

Debtors: amounts falling due within one year
 6 
175,852
117,977

Cash at bank and in hand
  
118,034
198,723

  
293,886
316,700

Creditors: amounts falling due within one year
 7 
(388,726)
(435,937)

Net current liabilities
  
 
 
(94,840)
 
 
(119,237)

Net assets
  
186,003
217,235


Capital and reserves
  

Called up share capital 
 8 
200
200

Profit and loss account
  
185,803
217,035

Total equity
  
186,003
217,235


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 .

The  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  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:




S D Semon
Director

Date: 1 May 2025

The notes on pages 3 to 10 form part of these financial statements.
Page 2

 

ACE ENTERTAINMENT FILMS UK LIMITED

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

1.


General information

Ace Entertainment Films UK Limited is a private company limited by shares incorporated in England and Wales. The address of its registered office is 16 Great Queen Street, Covent Garden, London, WC2B 5AH.
The financial statements are presented in Sterling (£). Monetary amounts in these financial statements are rounded to the nearest £.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

After making enquiries, the director has a reasonable expectation that the company has adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being a period of at least twelve months from the date these financial statements were approved. Accordingly, he continues to adopt the going concern basis in preparing the financial statements.

 
2.3

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.

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.

Page 3

 

ACE ENTERTAINMENT FILMS UK LIMITED

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

2.Accounting policies (continued)

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Revenue from licencing contracts is recognised on a straight-line basis over the term of the contract.
Revenue on back to back contracts is recognised at the point at which the licence becomes available for use.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Taxation

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 income 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.


  
2.7

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. Intangible assets represent film licences owned by the company.
All intangible assets are considered to have a finite useful life based upon the licence period.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 

ACE ENTERTAINMENT FILMS UK LIMITED

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

2.Accounting policies (continued)


2.8
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25%
Office equipment
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

  
2.9

Impairment of fixed assets and goodwill

Assets that are subject to depreciation or amortisation are assessed at each balance sheet date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows. Non-financial assets that have been previously impaired are reviewed at each balance sheet date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.

  
2.10

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.

  
2.11

Share capital

Ordinary shares are classified as equity. 

 
2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 5

 

ACE ENTERTAINMENT FILMS UK LIMITED

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

2.Accounting policies (continued)

  
2.13

Financial instruments

The company has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments.
Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the instrument. 
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.
The company’s policies for its major classes of financial assets and financial liabilities are set out below. 
Financial assets
Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, 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 for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.
Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.
Financial liabilities
Basic financial liabilities, including trade and other creditors, and loans from fellow group companies 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 for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Impairment of financial assets
Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account. 
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount the company would receive for the asset if it were to be sold at the reporting date. 
For financial assets measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract. 
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.
 
Page 6

 

ACE ENTERTAINMENT FILMS UK LIMITED

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

2.Accounting policies (continued)


Derecognition of financial assets and financial liabilities
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions. 
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires. 
Offsetting of financial assets and financial liabilities
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an 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.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 7

 

ACE ENTERTAINMENT FILMS UK LIMITED

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

4.


Intangible assets




Licences

£



Cost


At 1 January 2024
2,191,284


Additions
8,433


Disposals
(116,099)



At 31 December 2024

2,083,618



Amortisation


At 1 January 2024
1,854,812


Charge for the year on owned assets
64,062


On disposals
(116,099)



At 31 December 2024

1,802,775



Net book value



At 31 December 2024
280,843



At 31 December 2023
336,472



Page 8

 

ACE ENTERTAINMENT FILMS UK LIMITED

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

5.


Tangible fixed assets





Fixtures and fittings

£



Cost


At 1 January 2024
8,673


Disposals
(8,673)



At 31 December 2024

-





At 1 January 2024
8,673


Disposals
(8,673)



At 31 December 2024

-



Net book value



At 31 December 2024
-



At 31 December 2023
-


6.


Debtors

2024
2023
£
£

Trade debtors
72,953
49,955

Amounts owed by group undertakings
13,573
11,498

Other debtors
117
3,393

Prepayments and accrued income
89,209
53,131

175,852
117,977


Page 9

 

ACE ENTERTAINMENT FILMS UK LIMITED

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

7.


Creditors: amounts falling due within one year

2024
2023
£
£

Trade creditors
-
164

Amounts owed to group undertakings
97,406
-

Corporation tax
30,831
67,027

Other taxation and social security
16,952
12,445

Other creditors
623
623

Accruals and deferred income
242,914
355,678

388,726
435,937



8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



200 (2023 - 200) Ordinary shares of £1.00 each
200
200

The holders of ordinary shares are entitled to receive dividends as declared from time to time and are entitled to one vote per share at meetings of the Company.



9.


Related party transactions

The company has taken advantage of the exemption contained in FRS 102 section 33 "Related Party Disclosures" from disclosing transactions with entities which are a wholly owned part of the group. Balances with group companies at the year end can be seen in the debtors and creditors notes above.


10.


Controlling party

The ultimate controlling party is SJ Investments SARL, 27 Rue Galilee, 75016, Paris.
 
Page 10