Mostly Harmless UK Productions Limited
Unaudited Financial Statements
For the period ended 30 November 2024
Pages for Filing with Registrar
Company Registration No. 15062970 (England and Wales)
Mostly Harmless UK Productions Limited
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 4
Mostly Harmless UK Productions Limited
Balance Sheet
As at 30 November 2024
Page 1
2024
Notes
£
£
Current assets
Debtors
3
20,251
Cash at bank and in hand
236
20,487
Creditors: amounts falling due within one year
4
(188,356)
Net current liabilities
(167,869)
Capital and reserves
Called up share capital
5
100
Profit and loss reserves
(167,969)
Total equity
(167,869)
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial period ended 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 8 August 2025 and are signed on its behalf by:
Mr A E David
Director
Company Registration No. 15062970
Mostly Harmless UK Productions Limited
Notes to the Financial Statements
For the period ended 30 November 2024
Page 2
1
Accounting policies
Company information
Mostly Harmless UK Productions Limited is a private company limited by shares incorporated in England and Wales. The registered office is c/o 6th Floor Charlotte Building, 17 Gresse Street, London, United Kingdom, W1T 1QL.
1.1
Reporting period
The company has elected to adopt an extended financial reporting period for its first set of accounts, commencing from the date of incorporation on 10 August 2023 and ending on 30 November 2024. This extended period has been chosen in order to align the company's financial year-end with its preferred reporting date.
1.2
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.3
Going concern
At the balance sheet date the company had net liabilities of £167,869. Subsequent to the period end the company received $450,000 in front money investment to finance an initial production of the company's planned immersive production of "The Hitchhikers Guide To The Galaxy". These funds are not repayable unless there is a future commercial production of the show and then only to the extent that there are sufficient assets available to make such repayments after all other liabilities have been paid.true
At the date of signature of these accounts the directors believe that the company has sufficient funds to meet its liabilities as they fall due but recognise that additional funding would be required to finance any future commercial transfer. While recognising that a material uncertainty exists relating to going concern they consider it appropriate to continue to prepare the accounts on a going concern basis.
1.4
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.5
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Mostly Harmless UK Productions Limited
Notes to the Financial Statements (Continued)
For the period ended 30 November 2024
1
Accounting policies
(Continued)
Page 3
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
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 company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
1.6
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was:
2024
Number
Total
3
Mostly Harmless UK Productions Limited
Notes to the Financial Statements (Continued)
For the period ended 30 November 2024
Page 4
3
Debtors
2024
Amounts falling due within one year:
£
Amounts owed by group undertakings
512
Other debtors
19,739
20,251
4
Creditors: amounts falling due within one year
2024
£
Trade creditors
19,558
Other creditors
164,548
Accruals and deferred income
4,250
188,356
5
Called up share capital
2024
2024
Ordinary share capital
Number
£
Issued and fully paid
Ordinary shares of £1 each
100
100
6
Related party transactions
The company has applied the exemption under FRS 102, Section 33.1A, and therefore is not required to disclose transactions with group entities.
As at the balance sheet date, the company owed £163,775 to CPL Immersive LLC, a related party by nature of common directorship.
As at the balance sheet date, the company owed £773 to A David, a director.
7
Parent company
The parent company is Mostly Harmless UK Holdings Limited, by virtue of it's 100% shareholding.