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COMPANY REGISTRATION NUMBER: SC796156

Only Child Ltd

Filleted Unaudited Accounts

21 April 2025

Only Child Ltd

Statement of Financial Position

21 April 2025

| 21 Apr 25 | 18 Nov 24
Note | £ | £

Current assets

Debtors | 6 | 689,256 | 539,447
Cash at bank and in hand | 121,987 | 74,231
| --------- | ---------
| 811,243 | 613,678

Creditors: amounts falling due within one year | 7 | ( 811,241) | ( 613,676)
| --------- | ---------
Net current assets | 2 | 2
| ---- | ----
Total assets less current liabilities | 2 | 2
| ---- | ----
Net assets | 2 | 2
| ---- | ----

Capital and reserves

Called up share capital | 2 | 2
| ---- | ----
Shareholders funds | 2 | 2
| ---- | ----

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 comprehensive income has not been delivered.
For the period ending 21 April 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 period 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 20 January 2026 , and are signed on behalf of the board by:

K C Morton
Director

Company registration number: SC796156

Only Child Ltd

Notes to the Accounts

Period from 19 November 2024 to 21 April 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 Moray Park, Findhorn Road, Forres, IV36 3TP, Scotland.
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.
Comparatives
The accounts cover the period from 19 November 2024 to 21 April 2025. The comparatives cover the period from incorporation on 22 January 2024 to 18 November 2024.
The accounting period has been shortened to ensure that the accounting period and tax credit claim is conterminous.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying 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 television production, as noted in "Revenue Recognition" below.
Revenue recognition
Turnover relates to the production of the television series entitled "Only Child". 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. 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.
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. 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 future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Intra-group borrowings are debt instruments and are initially measured at present value of the future cash flows and subsequently at amortised cost using an effective interest method.
4. Employees
The company has been incorporated to produce a high-end television series entitled "Only Child". In common with the film and television industry the majority of crew are hired on short term contracts for the duration of principal photography or are self-employed.
None of the Directors received any form of remuneration.
5. Tax on loss
Major components of tax income

| Period from | Period from
| 19 Nov 24 to | 22 Jan 24 to
| 21 Apr 25 | 18 Nov 24
| £ | £

Current tax:

UK current tax income | ( 87,217) | ( 526,643)
| -------- | ---------
Tax on loss | ( 87,217) | ( 526,643)
| -------- | ---------

Reconciliation of tax income
The tax assessed on the loss on ordinary activities for the period is lower than (2024: lower than) the standard rate of corporation tax in the UK of 25 % (2024: 19 %).

| Period from | Period from
| 19 Nov 24 to | 22 Jan 24 to
| 21 Apr 25 | 18 Nov 24
| £ | £
Loss on ordinary activities before taxation | ( 87,217) | ( 526,643)
| -------- | ---------
High-end television tax relief | (87,217) | (526,643)
| -------- | ---------

6. Debtors

| 21 Apr 25 | 18 Nov 24
| £ | £
Prepayments and accrued income | 45,049 | –
VAT recoverable | 30,345 | 12,802
Corporation Tax recoverable | 613,860 | 526,643
Other debtors | 2 | 2
| --------- | ---------
| 689,256 | 539,447
| --------- | ---------

7. Creditors: amounts falling due within one year

| 21 Apr 25 | 18 Nov 24
| £ | £
Trade creditors | 248,501 | –
Accruals and deferred income | 58,881 | 109,816
Production loan | 503,859 | 503,860
| --------- | ---------
| 811,241 | 613,676
| --------- | ---------

The loan has been secured against the anticipated future high-end television tax credit
8. Related party transactions
During the period all related party transactions that took place related to the production of the television series entitled "Only Child" and arose on an arm's-length basis through the normal course of business. The Company has taken advantage of the exemption, under the terms of FRS 102 Paragraph 1AC.35, that disclosure need not be given regarding related party transactions that were entered into under normal market conditions hence no disclosure required.
9. Controlling party
The company was under the joint control of the directors during the period.