Registered number
14292897
Medina Studios Ltd
Filleted Accounts
31 August 2024
Medina Studios Ltd
Registered number: 14292897
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Current assets
Debtors 3 43,247 99
Cash at bank and in hand 40,044 -
83,291 99
Creditors: amounts falling due within one year 4 (52,830) -
Net current assets 30,461 99
Net assets 30,461 99
Capital and reserves
Called up share capital 300 99
Share premium 39,991 -
Profit and loss account (9,830) -
Shareholders' funds 30,461 99
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
N D Blewett D R Godfrey
Director Director
Approved by the board on 28 May 2025
Medina Studios Ltd
Notes to the Accounts
for the year ended 31 August 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 3
3 Debtors 2024 2023
£ £
Prepayments 42,956 -
Other debtors 291 99
43,247 99
4 Creditors: amounts falling due within one year 2024 2023
£ £
Other creditors 52,830 -
5 Events after the reporting date
On 2 May 2025, subsequent to the financial year-end of 31 August 2024, Medina Studios Ltd entered into a conditional agreement for lease with Isle of Wight Council for land located at Kingston Marine Park, East Cowes, Isle of Wight (PO32 6LX).
The agreement facilitates the development of a purpose-built film studio complex, including associated infrastructure. The grant of a long lease for a term of 150 years commencing on the lease completion date, once specified funding and planning conditions are satisfied. Additional agreements, including a surrender of adjacent land, an option agreement, and a deed of covenant with Homes England. Development is subject to milestones and regulatory approvals, with a longstop date of up to 12 months from the agreement date for condition satisfaction. This transaction forms part of the company’s strategic expansion into permanent production facilities and represents a significant forward investment.
This is a non-adjusting event after the reporting period and does not impact the financial statements as at 31 August 2024. It is disclosed to inform users of material developments affecting the company's future operations.
6 Controlling party
The company is controlled equally by all three serving directors.
7 Other information
Medina Studios Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Dawes Court House
Dawes Court
High Street
Esher Surrey
KT10 9QD
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