Roughcut TV (Stepping Up) Ltd

​Directors

A A Atalla (appointed 18-06-2025)
T J Sealey (appointed 18-06-2025)

Directors' responsibilities statement​

The Directors are responsible for preparing the Strategic report and​​ the financial statements in accordance with applicable law and regulations.
Company law requires the Directors​ to prepare financial statements for each financial year. Under that law the Directors have​​ elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the Directors​ must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company​ and of the profit or loss of the Company​​ for that period.

In preparing these financial statements, the Directors are required to:

The Directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company​​'s transactions and disclose with reasonable accuracy at any time the financial position of the Company​​ and enable them to ensure that the financial statements comply with the Companies Act 2006. They are​ also responsible for safeguarding the assets of the Company​ and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report was approved by the board and signed on its behalf:

Date: 29 April 2026 

For the year​ ending 31 December 2025, the Company was entitled to exemption from audit under section 477 of the Companies Act 2006.

The members have not required the Company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The Directors acknowledge their​ responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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

The Company has opted not to file the Single statement of comprehensive income in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf:

Date: 29 April 2026 

The notes on pages 6 on to 9 form part of these financial statements.

Roughcut TV (Stepping Up) Ltd is a private company limited by shares and is incorporated in England & Wales. The address of its registered office is 4th Floor, Bischheim House​, 19-20 Berners Street​​, London​, W1T 3NW.

The principal activity of the Company is television programme production.

The financial statements have been prepared under the historic cost convention unless otherwise specified within these accounting policies and in accordance with ​Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' (FRS 102) and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's​ accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements, are disclosed in note #.

The Company's functional and presentational currency is the Pound Sterling.

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover represents amounts receivable for services supplied during the year net of VAT. Where the company has incomplete productions at the year end, income and expenditure for these productions is recognised so that it reflects the partial performance of the company's contractual obligations. For such productions, the amount of revenue reflects the value of the work performed. Revenue due but not received is included in debtors and payments on account in excess of the relevant amount of revenue due are included in creditors.

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax 

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax 

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

Cash and cash equivalents include cash in hand, deposits with financial institutions repayable without penalty on notice of not more than 24 hours, other highly liquid investments that mature in no more than three months from the date of acquisition and bank overdrafts. Bank overdrafts, where applicable, are shown within 'Creditors: amounts due within one year'.

The Audiovisual Expenditure Credit (AVEC) is recognised as taxable income in the profit and loss account under ‘Other Income’ in the period in which the qualifying expenditure is incurred, and when there is reasonable certainty over the receipt of the credit.

The AVEC is accounted for as part of the company’s tax position. Since the credit constitutes taxable income, a notional corporation tax charge is recognised in the same period, calculated at the applicable main rate of UK corporation tax.

This notional tax is not payable to HMRC and is therefore recognised as a current tax asset on the balance sheet, as it offsets the company's tax liability arising solely from the credit.

The net amount of the credit, after the notional tax charge, is recognised as a receivable from HMRC within current assets, and is settled in cash.

There is a fixed and floating charge over the company's assets held by Coutts & Company.