Take 1 Script Services Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 04078689 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 DECEMBER 2024

FOR

TAKE 1 SCRIPT SERVICES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J P Son

A Amiel

REGISTERED OFFICE:

7 Savoy Court

London

WC2R 0EX

REGISTERED NUMBER:

04078689 (England and Wales)

AUDITORS:

Melinek Fine LLP

Chartered Accountants

Statutory Auditors

First Floor, Winston House

349 Regents Park Road

London

N3 1DH

FIXED ASSETS

Tangible assets

4

25,121

36,716

CURRENT ASSETS

Debtors

5

714,571

987,575

Cash at bank and in hand

139,040

111,930

853,611

1,099,505

CREDITORS

Amounts falling due within one year

6

3,562,327

2,289,559

NET CURRENT LIABILITIES

(2,708,716

)

(1,190,054

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(2,683,595

)

(1,153,338

)

CAPITAL AND RESERVES

Called up share capital

22

Share premium

33,123

Capital redemption reserve

5

Distributable reserves

3,062,254

3,054,049

Profit and loss account

(5,778,999

)

(4,240,537

)

SHAREHOLDERS' FUNDS

(2,683,595

)

(1,153,338

)

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 September 2025 and were signed on its behalf by:

A Amiel - Director

1.	STATUTORY INFORMATION

Take 1 Script Services Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue from contracts for the provision of services are 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 are recoverable.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Plant and machinery etc

-

25% on cost

Tangible fixed assets are measured at cost less depreciation and any impairment losses.

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.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounts at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost unless they are classified as receivable within one year in which case they are measured at the undiscounted amount of the cash or other consideration expected to be received net of impairment.

Financial liabilities that are classified as payable within one year are subsequently measured at the undiscounted amount of the cash or other consideration expected to be paid.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset or settle the liability simultaneously.

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.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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 transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Share-based payments

The company accounts for share-based compensation which requires companies to estimate the fair value of equity-based payment awards on the date of grant using an Option-Pricing Model ("OPM").

The value of the portion of the award that is ultimately expected to vest is recognised as an expense over the requisite service periods.

The company recognises compensation expenses for the value of the equity awards granted based on the straight-line method over the requisite service period of each of the awards. Any change in the expense takes account of forfeitures as they occur.

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 th 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.

Going concern

The financial statements have been prepared on the going concern basis.

In making their assessment, the directors have considered the foreseeable future which is a period of at least 12 months from the date of signing of the financial statements.

In line with expectations the company has made losses and has a negative balance sheet. The company has at the reporting date net current liabilities of £2,708,716 (2023: £1,190,054) and negative reserves of £2,683,573 (2023: £1,153,311).

The company is part of a group that has the financial resources to support the company and has provided a letter of support to meet the company's future liabilities as they fall due. This is a statement of intent and not a legally binding arrangement.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 39 (2023 - 49 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

COST

At 1 January 2024

and 31 December 2024

26,605

115,858

142,463

DEPRECIATION

At 1 January 2024

26,605

79,142

105,747

Charge for year

-

11,595

At 31 December 2024

26,605

90,737

117,342

NET BOOK VALUE

At 31 December 2024

-

25,121

At 31 December 2023

-

36,716

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade debtors

683,703

941,002

Amounts owed by group undertakings

-

22,315

Other debtors

30,868

24,258

714,571

987,575

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade creditors

191,373

163,973

Amounts owed to group undertakings

3,143,368

1,706,580

Taxation and social security

117,084

135,589

Other creditors

110,502

283,417

3,562,327

2,289,559

7.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Aryeh Melinek (Senior Statutory Auditor)

for and on behalf of Melinek Fine LLP

8.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

9.	ULTIMATE CONTROLLING PARTY

At 31 December 2024, the directors consider the immediate parent and ultimate controlling party of the company to be Verbit Inc., a company registered in United States of America.

Verbit Inc. produces financial statements available to their shareholders.