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COMPANY REGISTRATION NUMBER: 13256741
MVB Films Ltd
Filleted Unaudited Accounts
31 August 2024
MVB Films Ltd
Statement of Financial Position
31 August 2024
2024
2023
Note
£
£
Current assets
Stocks
56,813
Debtors
5
244,768
165
Cash at bank and in hand
66,194
4,507
---------
-------
367,775
4,672
Creditors: amounts falling due within one year
6
( 367,675)
( 4,572)
---------
-------
Net current assets
100
100
----
----
Total assets less current liabilities
100
100
----
----
Net assets
100
100
----
----
Capital and reserves
Called up share capital
7
100
100
----
----
Shareholders funds
100
100
----
----
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 August 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 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts .
These accounts were approved by the board of directors and authorised for issue on 17 June 2025 , and are signed on behalf of the board by:
C D Clark
Director
Company registration number: 13256741
MVB Films Ltd
Notes to the Accounts
Year ended 31 August 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 10 Orange Street, London, WC2H 7DQ, United Kingdom.
2. Statement of compliance
These accounts have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The accounts have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The accounts are prepared in sterling, which is the functional currency of the entity.
Comparatives
The accounts cover the period from 1 September 2023 to 31 August 2024. The comparatives cover the period from 22 August 2022 through to 31 August 2023. The previous accounting period had been extended to align the company with the parent.
Going concern
In establishing whether to continue to report under the going concern assumption we have considered the following points: - The impact on the day to day trade of the business - The impact on the ability of our suppliers to meet our needs - The impact of our staff's ability to perform their duties - The impact on our cash position of a period of minimum activity After considering all factors, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The series production has been underway in the period and funding advance from the broadcasters has been received in full and thus the directors are therefore satisfied that the going concern assumption remains appropriate. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying small entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under section 1A of FRS 102: (a) No cash flow statement has been presented for the company. (b) Disclosures in respect of financial instruments have not been presented.
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".
Revenue recognition
Turnover relates to the production of the television series entitled "Man vs Bee". 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 by 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. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
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 entity after deducting all of its financial liabilities.
4. Employees
The company has been incorporated to produce a high-vision series. In the accounting year, the company has been producing the series entitled 'Man vs Baby", which is expected to be delivered in the following period and is a sequel to the series "Man vs Bee". In common with the film and television industry the majority of crew are hired on short term contracts for the duration of principal photography or are self-employed.
None of the Directors received any form of remuneration.
5. Debtors
2024
2023
£
£
Prepayments and accrued income
200,000
VAT recoverable
44,668
65
Other debtors
100
100
---------
----
244,768
165
---------
----
6. Creditors: amounts falling due within one year
2024
2023
£
£
Accruals and deferred income
367,675
4,572
---------
-------
7. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
----
----
----
----
8. Related party transactions
The company has taken advantage of Section 33 of FRS 102 from disclosing transactions entered into between two or more members of a group, where any subsidiary undertaking which is a party to the transaction is wholly owned by a member of that group. All transactions related to the production of the television series "Man vs Baby" and "Man vs Bee" 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 Section 1A.
9. Controlling party
In the opinion of the directors the immediate parent undertaking is Housesitter Productions Ltd, a company incorporated in England and Wales.