Caseware UK (AP4) 2024.0.164 2024.0.164 2024-06-302024-06-30false2023-07-01Motion picture production activities00falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 13910701 2023-07-01 2024-06-30 13910701 2022-02-11 2023-06-30 13910701 2024-06-30 13910701 2023-06-30 13910701 c:Director1 2023-07-01 2024-06-30 13910701 d:CurrentFinancialInstruments 2024-06-30 13910701 d:CurrentFinancialInstruments 2023-06-30 13910701 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 13910701 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 13910701 d:ShareCapital 2024-06-30 13910701 d:ShareCapital 2023-06-30 13910701 d:RetainedEarningsAccumulatedLosses 2024-06-30 13910701 d:RetainedEarningsAccumulatedLosses 2023-06-30 13910701 c:OrdinaryShareClass1 2023-07-01 2024-06-30 13910701 c:OrdinaryShareClass1 2024-06-30 13910701 c:OrdinaryShareClass1 2023-06-30 13910701 c:FRS102 2023-07-01 2024-06-30 13910701 c:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 13910701 c:FullAccounts 2023-07-01 2024-06-30 13910701 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 13910701 2 2023-07-01 2024-06-30 13910701 e:PoundSterling 2023-07-01 2024-06-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 13910701










ICON VENTURES UK LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2024

 
ICON VENTURES UK LTD
REGISTERED NUMBER: 13910701

BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£
£

  

Current assets
  

Stocks
 4 
1,008,291
126,362

Debtors: amounts falling due within one year
 5 
242
66,973

Cash at bank and in hand
 6 
136,186
132,055

  
1,144,719
325,390

Creditors: amounts falling due within one year
 7 
(3,102,333)
(2,279,530)

Net current liabilities
  
 
 
(1,957,614)
 
 
(1,954,140)

Total assets less current liabilities
  
(1,957,614)
(1,954,140)

  

Net liabilities
  
(1,957,614)
(1,954,140)


Capital and reserves
  

Called up share capital 
 8 
100
100

Profit and loss account
  
(1,957,714)
(1,954,240)

  
(1,957,614)
(1,954,140)


The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 


R Sethi
Director

Date: 30 June 2025

The notes on pages 2 to 4 form part of these financial statements.

Page 1

 
ICON VENTURES UK LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

The company Icon Ventures UK Ltd is a private company limited by shares and domiciled in England and Wales, registration number 13910701. The registered office and principal place of business is 8th Floor South, Reading Bridge House, Reading, Berkshire, England, RG1 8LS.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Profit and loss account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.3

Revenue Recognition

Revenue is derived from a contract with the commissioning distributor and it is recognised upon the relative percentage of film production completed at each predetermined milestone. Final delivery is the point at which the film is available for theatrical release. Management commissioning fees is recognised upon the delivery of the film.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 2

 
ICON VENTURES UK LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.5

Stocks

Production costs incurred during the period are recognised as work in progress on the balance sheet
until the film is delivered to the commissioning distributor. Upon delivery of the film, it is acquired by the commissioning distributor and the production costs are then charged to the profit and loss account as cost of sales.



 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The Company has no employees other than the directors, who did not receive any remuneration (2023 - £NIL).


4.


Stock and work in progress

2024
2023
£
£

Production costs
1,008,291
126,362

1,008,291
126,362



5.


Debtors

2024
2023
£
£


Other debtors
242
66,973

242
66,973


Page 3

 
ICON VENTURES UK LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
136,186
132,055

136,186
132,055



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
850,300
11,469

Other loans
2,245,333
2,248,261

Accruals
6,700
19,800

3,102,333
2,279,530



8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary shares of £1 each
100
100



9.


Controlling party

Mr R Sethi is the ultimate controlling party owing to his majority shareholding.


Page 4