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COMPANY REGISTRATION NUMBER: 12116436
Custard Productions Ltd
Filleted Unaudited Accounts
31 July 2024
Custard Productions Ltd
Statement of Financial Position
31 July 2024
2024
2023
Note
£
£
Current assets
Stocks
75,125
Debtors
5
20
Cash at bank and in hand
23,573
166
--------
----
98,698
186
Creditors: amounts falling due within one year
6
( 99,402)
( 890)
--------
----
Net current liabilities
( 704)
( 704)
----
----
Total assets less current liabilities
( 704)
( 704)
----
----
Net liabilities
( 704)
( 704)
----
----
Capital and reserves
Called up share capital
7
1
1
Profit and loss account
( 705)
( 705)
----
----
Shareholders deficit
( 704)
( 704)
----
----
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 July 2024 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 year 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 24 July 2025 , and are signed on behalf of the board by:
T P C Hawkins
Director
Company registration number: 12116436
Custard Productions Ltd
Notes to the Accounts
Year ended 31 July 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 Fifth Floor, Clareville House, 26-27 Oxendon Street, St James', London, SW1Y 4EL, 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.
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" below.
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) Disclosures in respect of each class of share capital have not been presented. (b) No cash flow statement has been presented for the company.
Revenue recognition
Turnover relates to the production of the film entitled "Animol". 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 film called "Animol". 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
£
£
Other debtors
20
----
----
6. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
1,543
Accruals and deferred income
93,680
Social security and other taxes
3,475
Other creditors
704
890
--------
----
99,402
890
--------
----
7. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
1
1
1
1
----
----
----
----
8. Contingent liabilities
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: Coutts & Company Film4, a division of Channel Four Television Corporation The British Film Institute Paterson James Limited Sky UK Limited
9. Related party transactions
All transactions related to the production of the film "Animol" and arose on an arm's-length basis through the normal course of business.