Roughcut Television Limited
Unaudited Financial Statements
For the year ended 31 December 2024
Pages for Filing with Registrar
Company Registration No. 05907305 (England and Wales)
Roughcut Television Limited
Contents
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 11
Roughcut Television Limited
Balance Sheet
As at 31 December 2024
Page 1
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
194,802
25,195
Investments
4
14
50,024
194,816
75,219
Current assets
Work in progress
582,988
548,201
Debtors
6
3,359,945
4,633,182
Cash at bank and in hand
2,846,277
2,988,041
6,789,210
8,169,424
Creditors: amounts falling due within one year
7
(1,071,366)
(2,041,937)
Net current assets
5,717,844
6,127,487
Net assets
5,912,660
6,202,706
Capital and reserves
Called up share capital
8
10,532
10,532
Share premium account
13,940
13,940
Profit and loss reserves
5,888,188
6,178,234
Total equity
5,912,660
6,202,706

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 year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his 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 year 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.

Roughcut Television Limited
Balance Sheet (Continued)
As at 31 December 2024
Page 2
The financial statements were approved and signed by the director and authorised for issue on 22 August 2025
A Atalla
Director
Company Registration No. 05907305
Roughcut Television Limited
Notes to the Financial Statements
For the year ended 31 December 2024
Page 3
1
Accounting policies
Company information

Roughcut Television Limited is a private company limited by shares incorporated in England and Wales. The registered office is Bischheim House 4th Floor, 19-20 Berners Street, London, England, 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
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.

 

Turnover represents amounts receivable for services supplied during the year net of VAT. Where the company has incomplete productions at the year end, income and expenditure for these productions is recognised so that it reflects the partial performance of the company's contractual obligations. For such productions, the amount of revenue reflects the value of the work performed. Revenue due but not received is included in debtors and payments on account received in excess of the relevant amount of revenue due are included in creditors.

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.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold land and buildings
Over the term of the lease
Fixtures and fittings
Over the term of the lease
Computers
33% straight line
Motor vehicles
33% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Roughcut Television Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2024
1
Accounting policies
(Continued)
Page 4
1.4
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.6
Work in progress
Work in progress represents production and development costs and is valued at the lower of cost and net realisable value.
1.7
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.

1.8
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.

Roughcut Television Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2024
1
Accounting policies
(Continued)
Page 5
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.

1.9
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.

1.10
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

1.11
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.13
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

Roughcut Television Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2024
1
Accounting policies
(Continued)
Page 6
1.14
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.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
16
18
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 January 2024
21,752
28,328
50,080
Additions
-
0
207,715
207,715
At 31 December 2024
21,752
236,043
257,795
Depreciation and impairment
At 1 January 2024
12,823
12,062
24,885
Depreciation charged in the year
4,351
33,757
38,108
At 31 December 2024
17,174
45,819
62,993
Carrying amount
At 31 December 2024
4,578
190,224
194,802
At 31 December 2023
8,929
16,266
25,195
Roughcut Television Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2024
Page 7
4
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
14
24
Other investments other than loans
-
0
50,000
14
50,024
Movements in fixed asset investments
Shares in subsidiaries
Other
Total
£
£
£
Cost or valuation
At 1 January 2024 & 31 December 2024
24
50,000
50,024
Impairment
At 1 January 2024
-
-
-
Disposals
10
50,000
50,010
At 31 December 2024
10
50,000
50,010
Carrying amount
At 31 December 2024
14
-
14
At 31 December 2023
24
50,000
50,024
Roughcut Television Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2024
Page 8
5
Subsidiaries

Details of the company's subsidiaries at 31 December 2024 are as follows:

Name of undertaking
Address
Nature of business
Class of shares held
% Held Direct
Little A Productions Limited
England and Wales
Production of TV programmes
Ordinary
100.00
Roughcut Television (LD) Limited
England and Wales
Production of TV programmes
Ordinary
100.00
Roughcut Television (Punch) Limited
England and Wales
Production of TV programmes
Ordinary
100.00
Roughcut Television (WMRT) Limited
England and Wales
Production of TV programmes
Ordinary
100.00
The aggregate capital and reserves and the result for the year of the subsidiaries noted above was as follows:
Name of undertaking
Capital and Reserves
Profit/(Loss)
£
£
Little A Productions Limited
(833,251)
0
(762,741)
0
Roughcut Television (LD) Limited
2
-
0
Roughcut Television (Punch) Limited
1,719
2,661
Roughcut Television (WMRT) Limited
(90,688)
0
(86,076)
0
Roughcut Television Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2024
5
Subsidiaries
(Continued)
Page 9

All of the subsidiaries have the same registered address as the parent company, Roughcut Television Limited.

The following companies have been dissolved during the year on the following dates:

On 18 June 2024:

Roughcut Films (PJDN) Limited
Roughcut Television (A&K) Limited
Roughcut Television (Cuckoo) Limited
Roughcut Television (HP) Limited
Roughcut Television (ILWN) Limited
Roughcut Television (Little Start Up) Limited

Roughcut Television (Top Coppers) Limited
Roughcut Television (Trinity) Limited

Roughcut Television (Trollied) Limited

On 19 June 2024:
Roughcut Television (PJDN) Limited
Raffy Productions Limited

On 13 November 2024:

Roughcut Television (Bloods) Limited

Roughcut Television (Step) Ltd

Roughcut Television (Stath) Limited

 

On 26 November 2024:

Roughcut Television (Jerk) Limited

6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
37,814
124,429
Corporation tax recoverable
286,035
822,314
Amounts owed by group undertakings
1,666,373
2,455,884
Other debtors
1,319,959
1,002,341
Prepayments and accrued income
49,764
228,214
3,359,945
4,633,182
Roughcut Television Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2024
Page 10
7
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
61,351
188,301
Amounts owed to group undertakings
-
0
442,127
Taxation and social security
123,750
341,139
Other creditors
18,707
19,289
Accruals and deferred income
867,558
1,051,081
1,071,366
2,041,937
8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A shares of 1p each
1,000,000
1,000,000
10,000
10,000
Ordinary D shares of £17.67 each
30
30
530
530
Ordinary E shares of 1p each
9
9
-
0
-
0
Ordinary F shares of 1p each
5
5
-
-
Ordinary G shares of 1p each
156
156
2
2
1,000,200
1,000,200
10,532
10,532

The Ordinary E, F and G shares are non-voting and together with the D shares carry no income entitlement.

 

The Ordinary A shares receive all of any capital distribution to a set figure. Thereafter the D, E, F and G

shares share the excess proportionately.

9
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
Within one year
121,528
93,678
Between two and five years
5,727
124,783
127,255
218,461
Roughcut Television Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2024
Page 11
10
Related party transactions

The company has taken advantage of the exemption under FRS 102 not to disclose related party transactions between and with wholly owned group members.

 

Included within other debtors is a balance due from a director, amounting to £1,246,167 (2023: £889,830). Interest at 2.25% (2023: 2.19%) per annum is charged on the outstanding balance. An amount of £331,374 (2023: 394,291) was advanced to the director during the year; £nil (2023: £nil) of this being repaid. During the year the director received dividends amounting to £389,600 (2023: £812,250).

 

 

11
Ultimate controlling party

A Atalla is the ultimate controlling party by virtue of his shareholding.

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