Registration number:
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Renegade Stories Ltd
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Renegade Stories Ltd
Contents
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Company Information |
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Statement of Financial Position |
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Notes to the Unaudited Financial Statements |
Renegade Stories Ltd
Company Information
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Directors |
A Y Cooke A D Hayling |
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Registered office |
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Accountants |
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Renegade Stories Ltd
Statement of Financial Position as at 31 March 2025
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Note |
2025 |
2024 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Work in progress |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Total assets less current liabilities |
( |
( |
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Creditors: Amounts falling due after more than one year |
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- |
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Net liabilities |
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( |
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Capital and reserves |
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Called up share capital |
125 |
100 |
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Retained earnings |
(33,969) |
(25,342) |
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Shareholders' deficit |
(33,844) |
(25,242) |
For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge 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 provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.
Renegade Stories Ltd
Statement of Financial Position as at 31 March 2025
Approved and authorised by the
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A Y Cooke
Director
Company registration number: 14508689
Renegade Stories Ltd
Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2025
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
The principal activity of the company is that of the provision of production services for film and television
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Accounting policies |
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' Section 1A and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.
Summary of significant accounting policies
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.
Going concern
The company had net liabilities at 31 March 2025 of £33,844.
At that date an amount of £248,312 was due to the directors who have agreed to support the company and not call for repayment until such time as the company has sufficient working capital.
On the basis of the above, the directors have a reasonable expectation that the company has adequate resources to remain in operational existence for the foreseeable future. Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company's activities and is shown net of sales/value added tax, returns, rebates and discounts.
Revenue is recognised in accordance with the contractual stage of completion. Where projects are funded, income in respect of project funding is recognised against the costs to which it relates or otherwise deferred on the statement of financial position until the performance obligations have been fulfilled.
Renegade Stories Ltd
Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2025
Foreign currency transactions and balances
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
Tangible assets
Tangible assets are stated in the statement of financial position 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:
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Asset class |
Depreciation method and rate |
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Fixtures, fittings and equipment |
20% straight line |
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Motor vehicles |
25% straight line |
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.
Work in Progress
Work in progress comprises the costs of producing and developing television programmes. It is written off to the profit or loss as programs are recouped or sold. Where work in progress is impaired, the carrying amount is reduced to realisable value, with impaired loss recognised immediately on profit or loss.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Renegade Stories Ltd
Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2025
Finance leases and hire purchase
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Statement of Financial Position as a finance lease obligation.
Lease payments are apportioned between finance costs in the Income Statement and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
Assets held under hire purchase contracts are capitalised at the lesser of fair value or present value of minimum lease payments in the statement of financial position. The present value of the minimum lease payments is calculated using the interest rate implicit in the lease. A corresponding liability is recognised at the same value in the statement of financial position. The asset is then depreciated over its useful life.
The minimum lease payments are apportioned between the finance charge recognised in the income statement and the reduction of the outstanding liability using the effective interest method. The finance charge in each period is allocated so as to produce a constant periodic rate of interest on the remaining balance of the liability.
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.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
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Staff numbers |
The average number of persons employed by the company during the year, was
Renegade Stories Ltd
Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2025
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Tangible assets |
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Motor vehicles |
Fixtures, fittings and equipment |
Total |
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Cost or valuation |
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At 1 April 2024 |
- |
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Additions |
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At 31 March 2025 |
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Depreciation |
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At 1 April 2024 |
- |
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Charge for the year |
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At 31 March 2025 |
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Carrying amount |
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At 31 March 2025 |
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At 31 March 2024 |
- |
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Stocks |
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2025 |
2024 |
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Work in progress |
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Debtors |
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2025 |
2024 |
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Trade debtors |
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Other debtors |
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Renegade Stories Ltd
Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2025
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Creditors |
Creditors: amounts falling due within one year
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Note |
2025 |
2024 |
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Loans and borrowings |
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- |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Creditors: amounts falling due after more than one year
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Note |
2025 |
2024 |
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Loans and borrowings |
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- |
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Loans and borrowings |
Due within one year
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2025 |
2024 |
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Finance lease commitments |
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Due after more than one year
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2025 |
2024 |
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Finance lease commitments |
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Obligations under finance leases are secured on the assets involved.