Company Registration No. 14893839 (England and Wales)
Molly Bloom Limited
Unaudited financial statements
for the period ended 30 November 2024
Pages for filing with the registrar
Molly Bloom Limited
Contents
Page
Statement of financial position
1
Notes to the financial statements
2 - 5
Molly Bloom Limited
Statement of financial position
As at 30 November 2024
1
2024
Notes
£
£
Current assets
Debtors
4
250,983
Cash at bank and in hand
15,340
266,323
Creditors: amounts falling due within one year
5
(266,223)
Net current assets
100
Capital and reserves
-
Called up share capital
7
100
The directors of the company have elected not to include a copy of the income statement 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 22 August 2025 and are signed on its behalf by:
Jonathan Drake
Director
Company Registration No. 14893839
Molly Bloom Limited
Notes to the financial statements
For the period ended 30 November 2024
2
1
Accounting policies
Company information
Molly Bloom Limited is a private company limited by shares incorporated in England and Wales. The registered office is 24 Lady Place, Sutton Courtenay, Abingdon, England, OX14 4FB.
1.1
Reporting period
The accounting reporting period covers the 18-month period from incorporation on 25 May 2023 to 30 November 2024. The period was lengthened to align with the dates of production of the television series.
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 disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
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 time of approving the financial statements, the directors have do not consider that the company will remain in operational existence for 12 months from the date of signing the financial statements.Thus the financial statements have been prepared on a basis other than going concern.
1.4
Turnover
In respect of long-term contracts and contracts for on-going services, turnover represents the value of work
done in the period, including estimates of amounts not invoiced. Value of work done in respect of long-term
contracts for on-going services is determined by reference to the stage of completion.
The "percentage of completion method" is used to determine the appropriate amount to recognise in a given
period. The stage of completion is measured by the proportion of contract costs incurred for work
performed to date compared to the estimated total contract costs. Costs incurred in the period in connection
with future activity on a contract are excluded from contract costs in determining the stage of completion.
These costs are presented as stocks, prepayments or other assets depending on their nature, and provided it
is probable they will be recovered.
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.
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 statement of financial position 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.
Molly Bloom Limited
Notes to the financial statements (continued)
For the period ended 30 November 2024
1
Accounting policies (continued)
3
Basic financial assets
Basic financial assets, which include debtors, 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
Taxation
The tax expense represents the sum of the tax currently recoverable.
Current tax
The tax currently recoverable is based on relievable losses arising in the year as the result of high end
television tax relief legislation. Relievable losses differ from net losses as reported in the profit and loss
account because they include an additional deduction relating to qualifying television programme
development expenditure and exclude items of income or expense that are taxable or deductible in other
years, as well as items that are never taxable or deductible. The company's tax position is calculated using
tax rates that have been enacted or substantively enacted by the reporting date.
1.9
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the average rates of exchange over the
period in which the transactions were incurred. 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.
Molly Bloom Limited
Notes to the financial statements (continued)
For the period ended 30 November 2024
4
2
Critical accounting judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
Key sources of estimation uncertainty
The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.
High-end television tax relief
The key accounting estimate within the financial statements for this company is the valuation of the highend
television tax relief available. The estimate is based on the assessment of the value of qualifying
expenditure as per HMRC legislation and guidance plus assessment of the qualification of the underlying
programme as eligible for the tax relief.
3
Employees
The average monthly number of persons (including directors) employed by the company during the period was nil.
4
Debtors
2024
Amounts falling due within one year:
£
Corporation tax recoverable
227,872
Amounts owed by group undertakings
23,111
250,983
Amounts owed by group undertakings are unsecured, interest free and repayable on demand.
5
Creditors: amounts falling due within one year
2024
£
Bank loans
219,032
Amounts owed to group undertakings
30,523
Other creditors
16,668
266,223
Amounts owed to group undertakings are unsecured, interest free and payable on demand.
Molly Bloom Limited
Notes to the financial statements (continued)
For the period ended 30 November 2024
5
6
Loans and overdrafts
2024
£
Bank loans
219,032
Payable within one year
219,032
The long-term loans are secured by fixed charges over the high-end television tax credit.
7
Called up share capital
2024
2024
Ordinary share capital
Number
£
Issued and fully paid
Ordinary shares of £1 each
100
100
8
Financial commitments, guarantees and contingent liabilities
The company has 2 charges outstanding at the period end which are still outstanding at the balance sheet date:
Northern Ireland Screen Commission holds a fixed and floating charge over the company's present and future rights, title and interest in the programme and it's assets.
W S Hoodless Associates Limited holds a fixed and floating charge over the company's present and future rights, title and interest in the UK tax credit and it's assets.
9
Related party transactions
The company has taken advantage of the exemption available under paragraph 33.1a of FRS 102 from disclosing transactions entered into between two or more members of a group, where any subsidiary undertaking which is party to the transaction is wholly owned by a member of that group.
10
Parent company
The parent company of Molly Bloom Limited is Impossible Factual Limited, a company registered in England & Wales. It's registered office is 24 Lady Place, Sutton Courtenay, Abingdon, England, OX14 4FB.