COMPANY REGISTRATION NUMBER:
07122603
|
Filleted Unaudited Accounts |
|
|
Statement of Financial Position |
|
31 January 2025
Current assets
|
Work In Progress |
267,475 |
|
– |
|
Debtors |
4 |
284,248 |
|
198,244 |
|
Cash at bank and in hand |
229,118 |
|
307,979 |
|
--------- |
|
--------- |
|
780,841 |
|
506,223 |
|
|
|
|
|
|
Creditors: amounts falling due within one year |
5 |
(
516,546) |
|
(
241,928) |
|
--------- |
|
--------- |
|
Net current assets |
|
264,295 |
264,295 |
|
|
--------- |
--------- |
|
Total assets less current liabilities |
|
264,295 |
264,295 |
|
|
--------- |
--------- |
|
Net assets |
|
264,295 |
264,295 |
|
|
--------- |
--------- |
|
|
|
|
|
Capital and reserves
|
Called up share capital |
6 |
|
2 |
2 |
|
Profit and loss account |
|
264,293 |
264,293 |
|
|
--------- |
--------- |
|
Shareholders funds |
|
264,295 |
264,295 |
|
|
--------- |
--------- |
|
|
|
|
|
These accounts 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 income and retained earnings has not been delivered.
For the year ending 31 January 2025 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 accounts 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 accounts
.
These accounts were approved by the
board of directors
and authorised for issue on
8 January 2026
, and are signed on behalf of the board by:
Company registration number:
07122603
Year ended 31 January 2025
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 9a Dallington Street, London, EC1V 0BQ.
2.
Statement of compliance
These accounts 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 accounts 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 accounts are prepared in sterling, which is the functional currency of the entity.
Going concern
The directors have undertaken a rigorous assessment of whether the company was a going concern when the accounts were prepared, considering all available information about the future, covering a period of 12 months from the date of the approval of the accounts. The directors are not aware of any material uncertainty arising from their assessment that would cast doubt on the company's ability to continue as a going concern.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying small entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under section 1A of FRS 102: (a) No cash flow statement has been presented for the company. (b) Disclosures in respect of financial instruments have not been presented.
Judgements and key sources of estimation uncertainty
Accruals are estimated by reference to purchase orders raised at the period end and estimates to complete. Payments received on account are estimated by reference to percentage of completion of the film.
Revenue recognition
Production turnover relates to the production of the films in "The Trip" series. It represents the value of the work done in the period, including estimates of amounts not invoiced and is stated after trade discounts, other taxes and net of VAT. Royalties turnover relates to the exploitation of TV series and films and is recognised when the company receives statements detailing the revenues received in the various territories and mediums, including theatrical, DVD and download to own (DTO), in which the film and TV series are being distributed. 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
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
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 entity after deducting all of its financial liabilities.
4.
Debtors
|
2025 |
2024 |
|
£ |
£ |
|
Trade debtors |
72,668 |
– |
|
VAT recoverable |
14,484 |
– |
|
Other debtors |
197,096 |
198,244 |
|
--------- |
--------- |
|
284,248 |
198,244 |
|
--------- |
--------- |
|
|
|
5.
Creditors:
amounts falling due within one year
|
2025 |
2024 |
|
£ |
£ |
|
Trade creditors |
9,937 |
940 |
|
Accruals and deferred income |
371,236 |
97,438 |
|
Social security and other taxes |
– |
8,177 |
|
Other creditors |
135,373 |
135,373 |
|
--------- |
--------- |
|
516,546 |
241,928 |
|
--------- |
--------- |
|
|
|
6.
Called up share capital
Issued, called up and fully paid
|
2025 |
2024 |
|
No. |
£ |
No. |
£ |
|
Ordinary shares of £ 1 each |
2 |
2 |
2 |
2 |
|
---- |
---- |
---- |
---- |
|
|
|
|
|
7.
Related party transactions
The company was under the joint control of A Eaton and M Winterbottom, throughout the current and prior year. All transactions related to the production and exploitation of various films in "The Trip" series of films. No transactions with related parties were undertaken such as are required to be disclosed under FRS 102.