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COMPANY REGISTRATION NUMBER: 14802025
Woolf Comedy Productions Ltd
Unaudited Accounts
28 February 2025
Woolf Comedy Productions Ltd
Accounts
Period from 1 May 2024 to 28 February 2025
Contents
Page
Officers and professional advisers
1
Directors' report
2
Statement of comprehensive income
3
Statement of financial position
4
Statement of changes in equity
5
Notes to the accounts
6
Woolf Comedy Productions Ltd
Officers and Professional Advisers
The board of directors
C H C Figg
M M Thomson
J Waddell
Registered office
10 Orange Street
London
England
WC2H 7DQ
Accountants
Moore Kingston Smith LLP
Chartered accountants
10 Orange Street
London
United Kingdom
WC2H 7DQ
Woolf Comedy Productions Ltd
Directors' Report
Period from 1 May 2024 to 28 February 2025
The directors present their report and the unaudited accounts of the company for the period ended 28 February 2025 .
Directors
The directors who served the company during the period were as follows:
C H C Figg
M M Thomson
J Waddell
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 21 July 2025 and signed on behalf of the board by:
C H C Figg
Director
Woolf Comedy Productions Ltd
Statement of Comprehensive Income
Period from 1 May 2024 to 28 February 2025
Period from
Period from
1 May 24 to
14 Apr 23 to
28 Feb 25
30 Apr 24
Note
£
£
Turnover
3,466,764
Cost of sales
( 4,779,954)
------------
----
Gross loss
( 1,313,190)
Other operating income
1,750,920
------------
----
Operating profit
437,730
------------
----
Profit before taxation
437,730
Tax on profit
( 437,730)
---------
----
Result for the financial period and total comprehensive income
---------
----
All the activities of the company are from continuing operations.
The company has no other recognised items of income and expenses other than the results for the period as set out above.
Woolf Comedy Productions Ltd
Statement of Financial Position
28 February 2025
28 Feb 25
30 Apr 24
Note
£
£
Current assets
Debtors
4
2,612,528
3
Cash at bank and in hand
118,382
------------
----
2,730,910
3
Creditors: amounts falling due within one year
5
( 2,730,907)
------------
----
Net current assets
3
3
----
----
Total assets less current liabilities
3
3
----
----
Net assets
3
3
----
----
Capital and reserves
Called up share capital
3
3
----
----
Shareholders funds
3
3
----
----
These accounts have been prepared 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'.
For the period ending 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476 ;
- The directors acknowledge their 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 21 July 2025 , and are signed on behalf of the board by:
C H C Figg
Director
Company registration number: 14802025
Woolf Comedy Productions Ltd
Statement of Changes in Equity
Period from 1 May 2024 to 28 February 2025
Called up share capital
Profit and loss account
Total
£
£
£
At 14 April 2023
Profit for the period
Issue of shares
3
3
----
----
----
Total investments by and distributions to owners
3
3
At 30 April 2024
3
3
Profit for the period
----
----
----
At 28 February 2025
3
3
----
----
----
Woolf Comedy Productions Ltd
Notes to the Accounts
Period from 1 May 2024 to 28 February 2025
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, England.
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.
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 or loss.
Significant estimation technique adopted
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 film, as noted in "Revenue recognition".
Comparatives
The accounts cover the period from 1 May 2024 to 28 February 2025. The comparatives cover the period from 14 April 2023 to 30 April 2024, as such balances are not entirely comparable.
The accounting period has been shortened to ensure that the accounting period and tax credit claim is conterminous.
Revenue recognition
Turnover relates to the production of the film entitled "Night and Day". 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.
4. Debtors
28 Feb 25
30 Apr 24
£
£
Other debtors
2,612,528
3
------------
----
5. Creditors: amounts falling due within one year
28 Feb 25
30 Apr 24
£
£
Trade creditors
278,081
Corporation tax
437,730
Social security and other taxes
350
Production Loans
1,356,301
Other creditors
658,445
------------
----
2,730,907
------------
----
The loan has been secured against the anticipated future independent film tax credit.
6. Contingencies
Charges have been made against the film in favour of the following parties to secure their interests in the copyright of and title to the film: Sandylands Developments Ltd Film Finances International Thicket Investments Ltd Mayes Consultants Limited Elevation Films Limited
7. Related party transactions
During the year no related-party transactions took place. All transactions related to the production of the film "Night and Day" and arose on an arm's-length basis through the normal course of business. No transactions with related parties were undertaken such as are required to be disclosed under FRS 102.