Giant Owl Productions Ltd. 08141720 false 2023-08-01 2024-07-31 2024-07-31 The principal activity of the company is Other amusement and recreation activities not elsewhere classified Digita Accounts Production Advanced 6.30.9574.0 true true 08141720 2023-08-01 2024-07-31 08141720 2024-07-31 08141720 core:CapitalRedemptionReserve 2024-07-31 08141720 core:RetainedEarningsAccumulatedLosses 2024-07-31 08141720 core:ShareCapital 2024-07-31 08141720 core:SharePremium 2024-07-31 08141720 core:CurrentFinancialInstruments 2024-07-31 08141720 core:CurrentFinancialInstruments core:WithinOneYear 2024-07-31 08141720 core:Goodwill 2024-07-31 08141720 core:FurnitureFittingsToolsEquipment 2024-07-31 08141720 bus:SmallEntities 2023-08-01 2024-07-31 08141720 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 08141720 bus:FullAccounts 2023-08-01 2024-07-31 08141720 bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 08141720 bus:RegisteredOffice 2023-08-01 2024-07-31 08141720 bus:Director1 2023-08-01 2024-07-31 08141720 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 08141720 core:CapitalRedemptionReserve 2023-08-01 2024-07-31 08141720 core:RetainedEarningsAccumulatedLosses 2023-08-01 2024-07-31 08141720 core:ShareCapital 2023-08-01 2024-07-31 08141720 core:SharePremium 2023-08-01 2024-07-31 08141720 core:Goodwill 2023-08-01 2024-07-31 08141720 core:FurnitureFittingsToolsEquipment 2023-08-01 2024-07-31 08141720 countries:England 2023-08-01 2024-07-31 08141720 2023-07-31 08141720 core:CapitalRedemptionReserve 2023-07-31 08141720 core:RetainedEarningsAccumulatedLosses 2023-07-31 08141720 core:ShareCapital 2023-07-31 08141720 core:SharePremium 2023-07-31 08141720 core:Goodwill 2023-07-31 08141720 core:FurnitureFittingsToolsEquipment 2023-07-31 08141720 2022-08-01 2023-07-31 08141720 2023-07-31 08141720 core:CurrentFinancialInstruments 2023-07-31 08141720 core:CurrentFinancialInstruments core:WithinOneYear 2023-07-31 08141720 core:FurnitureFittingsToolsEquipment 2023-07-31 08141720 core:CapitalRedemptionReserve 2022-08-01 2023-07-31 08141720 core:RetainedEarningsAccumulatedLosses 2022-08-01 2023-07-31 08141720 core:ShareCapital 2022-08-01 2023-07-31 08141720 core:SharePremium 2022-08-01 2023-07-31 08141720 2022-07-31 08141720 core:CapitalRedemptionReserve 2022-07-31 08141720 core:RetainedEarningsAccumulatedLosses 2022-07-31 08141720 core:ShareCapital 2022-07-31 08141720 core:SharePremium 2022-07-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 08141720

Giant Owl Productions Ltd.

Annual Report and Unaudited Financial Statements

for the Year Ended 31 July 2024

 

Giant Owl Productions Ltd.

Contents

Company Information

1

Director's Report

2

Profit and Loss Account

3

Balance Sheet

4

Statement of Changes in Equity

5

Notes to the Unaudited Financial Statements

6 to 10

 

Giant Owl Productions Ltd.

Company Information

Director

Jack Francis Bryne

Registered office

63 Haliford Street
London
N1 3HF

Accountants

DJM Accountants BLJ Limited
26 High Street
Rickmansworth
WD3 1ER

 

Giant Owl Productions Ltd.

Director's Report for the Year Ended 31 July 2024

The report and the financial statements for the year ended 31 July 2024.

Director of the company

The director who held office during the year was as follows:

Jack Francis Bryne

Principal activity

The principal activity of the company is Other amusement and recreation activities not elsewhere classified

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 1 October 2024
 

.........................................
Jack Francis Bryne
Director

 

Giant Owl Productions Ltd.

Profit and Loss Account for the Year Ended 31 July 2024

Note

2024
£

2023
£

Turnover

 

1,303,844

1,580,119

Cost of sales

 

(556,678)

(384,855)

Gross profit

 

747,166

1,195,264

Administrative expenses

 

(483,838)

(174,272)

Operating profit

 

263,328

1,020,992

Profit before tax

4

263,328

1,020,992

Tax on profit

 

(66,548)

(216,412)

Profit for the financial year

 

196,780

804,580

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

Giant Owl Productions Ltd.

(Registration number: 08141720)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

6

24,957

27,822

Current assets

 

Debtors

7

39,974

218,066

Cash at bank and in hand

 

1,362,243

1,009,847

 

1,402,217

1,227,913

Creditors: Amounts falling due within one year

8

(561,852)

(292,193)

Net current assets

 

840,365

935,720

Total assets less current liabilities

 

865,322

963,542

Provisions for liabilities

(6,080)

(6,080)

Net assets

 

859,242

957,462

Capital and reserves

 

Called up share capital

9

165

165

Share premium reserve

9,970

9,970

Capital redemption reserve

(567,495)

(567,495)

Retained earnings

1,416,602

1,514,822

Shareholders' funds

 

859,242

957,462

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

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 1 October 2024
 

.........................................
Jack Francis Bryne
Director

 

Giant Owl Productions Ltd.

Statement of Changes in Equity for the Year Ended 31 July 2024

Share capital
£

Share premium
£

Capital redemption reserve
£

Retained earnings
£

At 1 August 2023

165

9,970

(567,495)

1,562,651

Profit for the year

-

-

-

196,780

Dividends

-

-

-

(342,829)

At 31 July 2024

165

9,970

(567,495)

1,416,602

Total
£

At 1 August 2023

1,005,291

Profit for the year

196,780

Dividends

(342,829)

At 31 July 2024

859,242

Share capital
£

Share premium
£

Capital redemption reserve
£

Retained earnings
£

At 1 August 2022

300

9,970

-

758,071

Profit for the year

-

-

-

804,580

Dividends

-

-

-

(47,829)

Purchase of own share capital

(135)

-

-

-

Other capital redemption reserve movements

-

-

(567,495)

-

At 31 July 2023

165

9,970

(567,495)

1,514,822

Total
£

At 1 August 2022

768,341

Profit for the year

804,580

Dividends

(47,829)

Purchase of own share capital

(135)

Other capital redemption reserve movements

(567,495)

At 31 July 2023

957,462

 

Giant Owl Productions Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
63 Haliford Street
London
N1 3HF
United Kingdom

These financial statements were authorised for issue by the director on 1 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Giant Owl Productions Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Giant Owl Productions Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 4 (2023 - 3).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

8,319

13,662

5

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 August 2023

10,600

10,600

At 31 July 2024

10,600

10,600

Amortisation

At 1 August 2023

10,600

10,600

At 31 July 2024

10,600

10,600

Carrying amount

At 31 July 2024

-

-

The aggregate amount of research and development expenditure recognised as an expense during the period is £- (2023 - £1,111).
 

 

Giant Owl Productions Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

6

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 August 2023

96,025

96,025

Additions

5,454

5,454

At 31 July 2024

101,479

101,479

Depreciation

At 1 August 2023

68,203

68,203

Charge for the year

8,319

8,319

At 31 July 2024

76,522

76,522

Carrying amount

At 31 July 2024

24,957

24,957

At 31 July 2023

27,822

27,822

 

Giant Owl Productions Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

7

Debtors

Current

2024
£

2023
£

Trade debtors

1,764

1,764

Other debtors

38,210

216,302

 

39,974

218,066

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

(1,353)

(1,103)

Taxation and social security

331,366

324,117

Other creditors

231,839

(30,821)

561,852

292,193

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary A of £1 each

135

135

135

135

Ordinary B of £1 each

30

30

30

30

165

165

165

165

10

Dividends

2024

2023

£

£

Interim dividend of £2,077.75 (2023 - £289.87) per ordinary share

342,828

47,828