COMPANY REGISTRATION NUMBER:
12967414
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Pulse Films LC Productions Ltd |
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Filleted Financial Statements |
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Pulse Films LC Productions Ltd |
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Statement of Financial Position |
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30 June 2024
Current assets
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Debtors |
4 |
174,953 |
330,637 |
|
Cash at bank and in hand |
35,266 |
177,890 |
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--------- |
--------- |
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210,219 |
508,527 |
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|
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Creditors: amounts falling due within one year |
5 |
54,839 |
198,055 |
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--------- |
--------- |
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Net current assets |
155,380 |
310,472 |
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--------- |
--------- |
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Total assets less current liabilities |
155,380 |
310,472 |
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--------- |
--------- |
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Net assets |
155,380 |
310,472 |
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--------- |
--------- |
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Capital and reserves
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Called up share capital |
1 |
1 |
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Profit and loss account |
155,379 |
310,471 |
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--------- |
--------- |
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Shareholder funds |
155,380 |
310,472 |
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--------- |
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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 income and retained earnings has not been delivered.
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.
These financial statements were approved by the
board of directors
and authorised for issue on
11 June 2026
, and are signed on behalf of the board by:
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N J Nathon James |
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Director |
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Company registration number:
12967414
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Pulse Films LC Productions Ltd |
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Notes to the Financial Statements |
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Year ended 30 June 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 Unit 1.08, 50 York Way, London, N1 9AB, United Kingdom.
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 measured at fair value through profit or loss.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
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 and includes provisions against previously recognised tax. 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.
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. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
4.
Debtors
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2024 |
2023 |
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£ |
£ |
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Corporation tax repayable |
171,664 |
313,491 |
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Other debtors |
3,289 |
17,146 |
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--------- |
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174,953 |
330,637 |
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--------- |
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Corporation tax repayable represents the film tax credit claim made by the company in the corporation tax return for the previous accounting period. HMRC have opened a compliance check into the return. Based on the uncertainty created by the compliance check and the current progress the directors wish to be prudent and make a temporary provision of £141,827 against the corporation tax recoverable.
5.
Creditors:
amounts falling due within one year
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2024 |
2023 |
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£ |
£ |
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Trade creditors |
20,483 |
42,180 |
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Amounts owed to group undertakings |
15,661 |
62,785 |
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Accruals and deferred income |
18,695 |
93,090 |
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--------- |
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54,839 |
198,055 |
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--------- |
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Amounts owed to group undertakings are interest free and repayable on demand.
6.
Contingencies
Charges have been made against the company's assets including its right, title and interest in and to the film, in favour of the following entities who have advances funds to finance film production costs: BMG Rights Management (UK) Limited and Quickfire (Opal) Films Limited.
7.
Summary audit opinion
The auditor's report dated
11 June 2026
was
unqualified
.
The senior statutory auditor was
Chirag Sirish Malde FCCA
, for and on behalf of
Malde & Co
.
8.
Related party transactions
The company has taken advantage of the exemption under section 33 of FRS102 and has not disclosed related party transactions with the parent company as a wholly owned subsidiary.
9.
Controlling party
The immediate parent company is
Pulse Films Limited
whose registered office is Unit 1.08 50 York Way, London, N1 9AB. Their registered number is 05260268. Pulse Films Limited
is also the smallest and largest group in which the results of the company are consolidated and publicly available. The Directors of Pulse Films Limited consider the ultimate controlling party to be Fortress Investment Group LLC
,1345 Avenue of the Americas, 46th Floor, New York, NY 10105.