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COMPANY REGISTRATION NUMBER: 14997186
Harvest Film Limited
Filleted Unaudited Financial Statements
31 December 2024
Harvest Film Limited
Statement of Financial Position
31 December 2024
2024
2023
Note
£
£
Current assets
Stocks
5,279,726
4,963,020
Debtors
4
3,153
1,228,538
Cash at bank and in hand
863
296,223
------------
------------
5,283,742
6,487,781
Creditors: amounts falling due within one year
5
5,283,740
6,487,779
------------
------------
Net current assets
2
2
----
----
Total assets less current liabilities
2
2
----
----
Capital and reserves
Called up share capital
2
2
----
----
Shareholders funds
2
2
----
----
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- 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 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 22 December 2025 , and are signed on behalf of the board by:
Ms Rebecca O'Brien
Director
Company registration number: 14997186
Harvest Film Limited
Notes to the Financial Statements
Year ended 31 December 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 2nd Floor, 187 Wardour Street, London, W1F 8ZB.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Stocks
The company and four other European companies, are co-producing a film entitled "Harvest" under the European Convention on Cinematographic Co-production (revised) made at Rotterdam on 30 January 2017. Stocks consist of work in progress and represents the company’s share of development expenditure in relation to film productions. The costs are recorded at the lower of cost and net realisable value and are net of Value Added Tax.
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 discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4. Debtors
2024
2023
£
£
Other debtors
3,153
1,228,538
-------
------------
5. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
12,052
–
Trade creditors
206,215
241,493
Social security and other taxes
264,721
261,078
Other creditors
4,800,752
5,985,208
------------
------------
5,283,740
6,487,779
------------
------------
Other creditors totalling £4,800,752 is in respect of production advances and loans received to produce the film.
6. Contingencies
Charges have been made against the company's assets including its rights, title and interest in and to the film, in favour of the following entities who have advanced funds to finance the film production costs: - Faliro Houseproductions S.A. - Mubi Inc. - Creative Scotland - British Broadcasting Corporation - Argonaut Entertainment L.P.