| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 August 2024 |
| for |
| Brassic Universe Ltd |
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 August 2024 |
| for |
| Brassic Universe Ltd |
| Brassic Universe Ltd (Registered number: 13262694) |
| Contents of the Financial Statements |
| for the Year Ended 31 August 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Brassic Universe Ltd |
| Company Information |
| for the Year Ended 31 August 2024 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 39 Long Acre |
| London |
| WC2E 9LG |
| Brassic Universe Ltd (Registered number: 13262694) |
| Balance Sheet |
| 31 August 2024 |
| 31.8.24 | 31.8.23 |
| Notes | £ | £ |
| CURRENT ASSETS |
| Debtors | 4 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 5 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| The director acknowledges his responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| Brassic Universe Ltd (Registered number: 13262694) |
| Balance Sheet - continued |
| 31 August 2024 |
| The financial statements were approved by the director and authorised for issue on |
| Brassic Universe Ltd (Registered number: 13262694) |
| Notes to the Financial Statements |
| for the Year Ended 31 August 2024 |
| 1. | STATUTORY INFORMATION |
| Brassic Universe Ltd is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Judgements and key sources of estimation uncertainty |
| Accruals are estimated by reference to purchase orders raised at the period end and estimates to complete. Payments received on account are estimated by reference to percentage of completion of the television production, as noted in "Revenue recognition" below. |
| Revenue recognition |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Turnover relates to the production of the television series entitled "Brassic - Series 4". It represents the value of the work done in the period, including estimates of amounts not invoiced and is stated after trade discounts, other taxes and net of VAT. |
| Revenue from the rendering of services is measured reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable. |
| Financial instruments |
| A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. |
| Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. |
| Debt instruments are subsequently measured at amortised cost. |
| Intra-group borrowings are debt instruments and are initially measured at present value of the future cash flows and subsequently at amortised cost using an effective interest method. |
| Brassic Universe Ltd (Registered number: 13262694) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 August 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2023 - NIL). |
| 4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.8.24 | 31.8.23 |
| £ | £ |
| Other debtors |
| VAT |
| 5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.8.24 | 31.8.23 |
| £ | £ |
| Trade creditors |
| Amounts owed to group undertakings |
| VAT | - | 11,005 |
| Accruals and deferred income |
| Brassic Universe Ltd (Registered number: 13262694) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 August 2024 |
| 6. | CONTINGENT LIABILITIES |
| Charges have been made against the television series in favour of the following parties to secure their interests in the copyright of and title to the television series: |
| Sky Studios Ltd |
| Bank of Montreal |
| 7. | RELATED PARTY DISCLOSURES |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
| During the year, all related party transactions related to the production of the television series entitled "Brassic - series 4" and arose on an arm's-length basis through the normal course of business. |
| As such, no transactions with related parties were undertaken such as are required to be disclosed under FRS 102. |
| 8. | CONTROLLING PARTY |
| In the opinion of the directors the parent undertaking and controlling party is Calamity Films Limited, a company incorporated in England and Wales. The ultimate controlling party is D E Livingstone by right of sole shareholding in Calamity Films Limited. |