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COMPANY REGISTRATION NUMBER: 09203926
Archery Pictures Limited
Filleted Unaudited Accounts
31 December 2024
Archery Pictures Limited
Statement of Financial Position
31 December 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
6,236
9,945
Investments
6
154
153
-------
--------
6,390
10,098
Current assets
Work in progress
277,938
99,880
Debtors
7
526,611
1,501,201
Cash at bank and in hand
1,623,846
1,787,467
------------
------------
2,428,395
3,388,548
Creditors: amounts falling due within one year
8
( 766,436)
( 673,446)
------------
------------
Net current assets
1,661,959
2,715,102
------------
------------
Total assets less current liabilities
1,668,349
2,725,200
------------
------------
Net assets
1,668,349
2,725,200
------------
------------
Capital and reserves
Called up share capital
11
11
Share premium account
999,999
999,999
Profit and loss account
668,339
1,725,190
------------
------------
Shareholders funds
1,668,349
2,725,200
------------
------------
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 December 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 .
Archery Pictures Limited
Statement of Financial Position (continued)
31 December 2024
These accounts were approved by the board of directors and authorised for issue on 8 August 2025 , and are signed on behalf of the board by:
S C S Thykier
Director
Company registration number: 09203926
Archery Pictures Limited
Notes to the Accounts
Year ended 31 December 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 3 Archery Close, London, W2 2BE, United Kingdom.
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 production, 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) No cash flow statement has been presented for the company. (b) Disclosures in respect of financial instruments have not been presented.
Revenue recognition
Turnover relates to the production of television series. 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.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
25% straight line
Equipment
-
25% straight line
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
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. Employee numbers
The average number of persons employed by the company during the year amounted to 10 (2023: 9 ).
5. Tangible assets
Fixtures and fittings
Equipment
Total
£
£
£
Cost
At 1 January 2024
1,830
44,621
46,451
Additions
3,208
3,208
Disposals
( 1,830)
( 18,028)
( 19,858)
-------
--------
--------
At 31 December 2024
29,801
29,801
-------
--------
--------
Depreciation
At 1 January 2024
1,830
34,676
36,506
Charge for the year
4,528
4,528
Disposals
( 1,830)
( 15,639)
( 17,469)
-------
--------
--------
At 31 December 2024
23,565
23,565
-------
--------
--------
Carrying amount
At 31 December 2024
6,236
6,236
-------
--------
--------
At 31 December 2023
9,945
9,945
-------
--------
--------
6. Investments
Shares in participating interests
£
Cost
At 1 January 2024
153
Additions
1
----
At 31 December 2024
154
----
Impairment
At 1 January 2024 and 31 December 2024
----
Carrying amount
At 31 December 2024
154
----
At 31 December 2023
153
----
7. Debtors
2024
2023
£
£
Trade debtors
181,459
149,627
Amounts owed by group undertakings and undertakings in which the company has a participating interest
250,000
498,343
Prepayments and accrued income
93,295
852,368
Other debtors
1,857
863
---------
------------
526,611
1,501,201
---------
------------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
139
51,490
Amounts owed to group undertakings and undertakings in which the company has a participating interest
27,903
29,850
Accruals and deferred income
502,900
130,973
Social security and other taxes
110,492
204,173
Dividends payable
125,000
250,000
Other creditors
2
6,960
---------
---------
766,436
673,446
---------
---------
9. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2024
2023
£
£
Not later than 1 year
1,835
4,654
-------
-------
10. Contingent liabilities
Charges have been made against the series in favour of the following parties to secure their interests in the copyright of and title to the series: Coutts & Company
11. Related party transactions
During the year no related-party transactions took place. All transactions related to the productions in the year 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.
12. Controlling party
In the opinion of the directors the controlling party is S C S Thykier .