Roughcut Television (LD) Limited
Unaudited Financial Statements
For the period ended 30 April 2025
Pages for Filing with Registrar
Company Registration No. 15242116 (England and Wales)
Roughcut Television (LD) Limited
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 5
Roughcut Television (LD) Limited
Balance Sheet
As at 30 April 2025
Page 1
2025
2024
Notes
£
£
£
£
Current assets
Debtors
3
3,366,772
10,895,428
Cash at bank and in hand
673,130
575,460
4,039,902
11,470,888
Creditors: amounts falling due within one year
4
(4,046,725)
(8,778,479)
Net current (liabilities)/assets
(6,823)
2,692,409
Creditors: amounts falling due after more than one year
5
(2,699,232)
Net liabilities
(6,823)
(6,823)
Capital and reserves
Called up share capital
6
2
2
Profit and loss reserves
(6,825)
(6,825)
Total equity
(6,823)
(6,823)
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial period ended 30 April 2025 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 member has 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 13 August 2025 and are signed on its behalf by:
T Sealey
Director
Company Registration No. 15242116
Roughcut Television (LD) Limited
Notes to the Financial Statements
For the period ended 30 April 2025
Page 2
1
Accounting policies
Company information
Roughcut Television (LD) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Bischheim House, 19-20 Berners Street, London, W1T 3NW.
1.1
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.
1.2
Going concern
Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.
Advances received under distribution agreements are recognised as income over the distribution licence period when income is earned from the licensed production. The amount of any advances not recoupable out of future income is recognised as income in the year. Non-refundable advances are recognised once initial contractual obligations have been fulfilled.
1.4
Work in progress
Work-in-progress relates to direct production costs, net of tax credits, subsidies and grants, incurred on productions not delivered during the period. Production costs are recognised in the profit and loss accounts as soon as the programme is delivered and the related production revenue is recognised.
1.5
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.
Roughcut Television (LD) Limited
Notes to the Financial Statements (Continued)
For the period ended 30 April 2025
1
Accounting policies
(Continued)
Page 3
1.6
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.
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.
1.7
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.
1.8
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
Roughcut Television (LD) Limited
Notes to the Financial Statements (Continued)
For the period ended 30 April 2025
Page 4
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was:
2025
2024
Number
Number
Total
2
2
3
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
432,000
458,295
Corporation tax recoverable
1,756,947
1,430,381
Other debtors
1,177,825
7,776
Work in progress and accrued income
8,998,976
3,366,772
10,895,428
4
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
77,405
115,282
Amounts owed to group undertakings
685,106
174,034
Corporation tax
136,657
Other taxation and social security
43,302
64,258
Other creditors
2,900,773
-
Accruals and deferred income
340,139
8,288,248
4,046,725
8,778,479
5
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
2,699,232
There is a fixed and floating charge over the company's assets held by Natixis Coficine S.A.
Roughcut Television (LD) Limited
Notes to the Financial Statements (Continued)
For the period ended 30 April 2025
Page 5
6
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
2
2
2
2
7
Related party transactions
The company has taken advantage of the FRS102 1A exemption from disclosing transactions between a wholly owned subsidiary and the parent company.
8
Parent company
The immediate and ultimate parent company is Roughcut Television Limited, a company incorporated in England and Wales.