0 2 July 2025 false false false false false false false false false false true true false false false false false No description of principal activity 2023-11-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 14743067 2023-11-01 2024-10-31 14743067 2024-10-31 14743067 2023-10-31 14743067 2023-03-20 2023-10-31 14743067 2023-10-31 14743067 2023-03-19 14743067 bus:Director2 2023-11-01 2024-10-31 14743067 core:WithinOneYear 2024-10-31 14743067 core:ShareCapital 2024-10-31 14743067 core:ShareCapital 2023-10-31 14743067 bus:SmallEntities 2023-11-01 2024-10-31 14743067 bus:Audited 2023-11-01 2024-10-31 14743067 bus:SmallCompaniesRegimeForAccounts 2023-11-01 2024-10-31 14743067 bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 14743067 bus:FullAccounts 2023-11-01 2024-10-31
COMPANY REGISTRATION NUMBER: 14743067
Atomic Films Limited
Filleted Accounts
31 October 2024
Atomic Films Limited
Statement of Financial Position
31 October 2024
2024
2023
Note
£
£
Current assets
Debtors
5
1,069,783
1
Cash at bank and in hand
259,485
------------
----
1,329,268
1
Creditors: amounts falling due within one year
6
( 1,329,267)
------------
----
Net current assets
1
1
----
----
Total assets less current liabilities
1
1
----
----
Net assets
1
1
----
----
Capital and reserves
Called up share capital
1
1
----
----
Shareholders funds
1
1
----
----
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 comprehensive income has not been delivered.
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.
These accounts were approved by the board of directors and authorised for issue on 1 July 2025 , and are signed on behalf of the board by:
J Hall
Director
Company registration number: 14743067
Atomic Films Limited
Notes to the Accounts
Year ended 31 October 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 3rd Floor, Stapleton House, 29-33 Scrutton Street, London, EC2A 4HU, 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.
Going concern
After making enquiries, the Directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the financial statements. 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 A detailed budget and cashflow have been prepared for the production and delivery of the television series. Funds to meet the cashflow requirements are contractually in place and the Directors do not anticipate any material overspend. A large proportion of the production has been completed by the year end including all of the principal photography. The Directors are anticipating completion and formal delivery in the forthcoming period. 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. Accordingly, they continue to adopt the going concern basis in preparing the accounts.
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.
Comparatives
The accounts cover the year to 31 October 2024. The comparatives cover the period from incorporation through to 31 October 2023.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. Its financial statements are consolidated into the financial statements of Pulse Films Ltd which can be obtained from 2-6 New North Place, London, England, EC2A 4JA. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) Disclosures in respect of each class of share capital have not been presented. (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 year end. 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 relates to the production of the television series entitled "Atomic". 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.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
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. 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 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.
4. Employees
The company has been incorporated to produce the television series entitled "Atomic". In common with the television production 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
£
£
Amounts owed by group undertakings
80,178
Prepayments and accrued income
332,014
Corporation tax recoverable
395,714
Other debtors
261,877
1
------------
----
1,069,783
1
------------
----
6. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
177,817
Amounts owed to group undertakings
23,400
Accruals and deferred income
254,741
Social security and other taxes
456,123
Production loan
395,713
Other creditors
21,473
------------
----
1,329,267
------------
----
The loan has been secured against the anticipated future high-end television tax credit.
7. Contingencies
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 Limited Bank of Montreal
8. Summary audit opinion
The auditor's report dated 2 July 2025 was unqualified .
The senior statutory auditor was Stephen Joberns , for and on behalf of Moore Kingston Smith LLP .
9. Related party transactions
As a wholly-owned subsidiary of Pulse Films Limited, whose financial statements are publicly available, the Company has taken advantage of the exemption under FRS 102 Paragraph 33.1A on the basis that disclosure need not be given regarding related party transactions with other wholly-owned subsidiaries of the group.
10. Controlling party
The immediate controlling party is Pulse Films Limited, a company incorporated in England and Wales. The smallest group in which the results of the company are consolidated is that headed by Pulse Films Limited. Financial statements for Pulse Films Limited are publicly available and can be obtained from 2-6 New North Place, London, EC2A 4JA. The ultimate controlling party and the largest group in which the results of the company are consolidated is Vice Ultimate Parent LLC, a company incorporated in USA.