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Registration number: 09257007

Mercian Film Studios Limited

Unaudited Financial Statements

for the Year Ended 30 April 2024

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

Mercian Film Studios Limited

Contents

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3 to 4

 

Mercian Film Studios Limited

Company Information

Directors

S Knight

S Alexander

Registered office

130 Shaftesbury Avenue
2nd Floor
London
W1D 5EU

Accountants

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

Mercian Film Studios Limited

Statement of Financial Position as at 30 April 2024

Note

2024
£

2023
£

Current assets

 

Debtors

4

100

100

Cash at bank and in hand

 

16,241

16,255

 

16,341

16,355

Creditors: Amounts falling due within one year

5

(248,658)

(246,228)

Net liabilities

 

(232,317)

(229,873)

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(232,417)

(229,973)

Shareholders' deficit

 

(232,317)

(229,873)

For the financial year ending 30 April 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; and

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’.

The directors of Mercian Film Studios Limited have elected not to include a copy of the profit and loss account within the financial statements, in accordance with the special provisions relating to companies subject to the small companies regime within the Companies Act 2006, s444.

Approved and authorised by the Board on 25 July 2025 and signed on its behalf by:
 

.........................................

S Alexander

Director

Company registration number: 09257007

 

Mercian Film Studios Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital incorporated in the England & Wales.

The address of its registered office is:
130 Shaftesbury Avenue
2nd Floor
London
W1D 5EU

The principal activity of the company is that of the development of a film studio.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' 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 made a loss for the year ended 30 April 2024 and had net liabilities of £232,317 at that date.

The company finances its operations with interest free loans from a company under the control of one of the directors to whom an amount of £222,837 was due at 30 April 2024. This company has agreed to not call for repayment until such time as the company has sufficient working capital to provide additional working capital as required.

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, the directors continue to adopt the going concern basis in preparing the financial statements.

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.

 

Mercian Film Studios Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

3

Staff numbers

The average number of persons employed by the company during the year, was 0 (2023 - 0).

4

Debtors

2024
£

2023
£

Other debtors

100

100

100

100


 

5

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Trade creditors

25,810

25,810

Other creditors

222,848

220,418

248,658

246,228