Registration number: 07276189

KGB Films Limited

Contents

Company Information	1
Statement of Financial Position	2 to 3
Notes to the Financial Statements	4 to 9

KGB Films Limited

Company Information

Director

K G B Macdonald

Company secretary

E T Macdonald

Registered office

130 Shaftesbury Avenue 2nd Floor London W1D 5EU

Bankers

Coutts & Co 44 Strand London WC2R 0QS

Accountants

Brebners Chartered Accountants 130 Shaftesbury Avenue London W1D 5AR

KGB Films Limited

Statement of Financial Position as at 31 July 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	124,833	114,568
Investment property	5	337,408	304,752
Investments	6	102	102
		462,343	419,422
Current assets
Debtors	7	382,443	379,436
Cash at bank and in hand		300,916	275,883
		683,359	655,319
Creditors: Amounts falling due within one year	8	(121,587)	(93,168)
Net current assets		561,772	562,151
Total assets less current liabilities		1,024,115	981,573
Provisions for liabilities		(44,682)	(36,518)
Net assets		979,433	945,055
Capital and reserves
Called up share capital		100	100
Retained earnings		979,333	944,955
Shareholders' funds		979,433	945,055

For the financial year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

The director of KGB Films Limited has elected not to include a copy of the Income Statement within the financial statements, in accordance with the special provisions relating to companies subject to the small companies regime within the Companies Act 2006, s444.

KGB Films Limited

Statement of Financial Position as at 31 July 2024

Approved and authorised by the director on 2 September 2025
 

.........................................

K G B Macdonald

Director

Company registration number: 07276189

KGB Films Limited

Notes to the Financial Statements for the Year Ended 31 July 2024

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
130 Shaftesbury Avenue
2nd Floor
London
W1D 5EU

The principal activity of the company is Film Production

2	Accounting policies

Summary of significant accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' Section 1A and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Group accounts not prepared

The company and its subsidiary undertakings comprise a small group. The company has therefore taken advantage of the exemption provided by section 399 of Companies Act 2006 from the requirement to prepare group accounts.

Going concern

The company made a profit for the year ended 31 July 2024 and had net assets at that date of £979,433 including cash at bank of £300,916. The company's most recent management accounts indicate that the company continues to trade profitably.

On the basis of the above, and after making enquiries, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the director continues to adopt the going concern basis in preparing the financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company's activities. Turnover is shown net of sales/value added tax, rebates and discounts.

The company recognises turnover with reference to the stage of completion of the projects undertaken. Royalties are recognised in the period in which they are earned.

KGB Films Limited

Notes to the Financial Statements for the Year Ended 31 July 2024

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Fixtures, Fittings & Equipment	20% - 33.3% Straight Line
Long Leasehold Property	2% Straight Line
Vehicles	25% Straight Line

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

KGB Films Limited

Notes to the Financial Statements for the Year Ended 31 July 2024

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company during the year, was 2 (2023 - 2).

KGB Films Limited

Notes to the Financial Statements for the Year Ended 31 July 2024

4	Tangible assets

	Long leasehold property £	Furniture, fittings and equipment  £	Vehicles  £	Total £
Cost or valuation
At 1 August 2023	125,855	29,993	2,963	158,811
Additions	-	-	18,775	18,775
At 31 July 2024	125,855	29,993	21,738	177,586
Depreciation
At 1 August 2023	12,585	29,435	2,223	44,243
Charge for the year	2,517	558	5,435	8,510
At 31 July 2024	15,102	29,993	7,658	52,753
Carrying amount
At 31 July 2024	110,753	-	14,080	124,833
At 31 July 2023	113,270	558	740	114,568

5	Investment properties

Fair value	2024 £
At 1 August 2023	304,752
Additions	6,639
Fair value adjustments	26,017
At 31 July 2024	337,408

The investment property is reflected at fair value at 31 July 2024 as estimated by the director at an amount of £337,408.

KGB Films Limited

Notes to the Financial Statements for the Year Ended 31 July 2024

6	Investments

	2024 £	2023 £
Investments in subsidiaries	102	102