COMPANY REGISTRATION NUMBER:
13780627
|
Magnolia Mae Firebrand Limited |
|
|
Filleted Unaudited Financial Statements |
|
|
Magnolia Mae Firebrand Limited |
|
|
Statement of Financial Position |
|
31 March 2026
Fixed assets
Current assets
|
Debtors |
5 |
623 |
15,096 |
|
Cash at bank and in hand |
1,806 |
4,015 |
|
------- |
-------- |
|
2,429 |
19,111 |
|
|
|
|
|
Creditors: amounts falling due within one year |
6 |
8,391 |
19,111 |
|
------- |
-------- |
|
Net current liabilities |
5,962 |
– |
|
------- |
---- |
|
Total assets less current liabilities |
(
5,961) |
1 |
|
------- |
---- |
|
Net (liabilities)/assets |
(
5,961) |
1 |
|
------- |
---- |
|
|
|
|
Capital and reserves
|
Called up share capital |
1 |
1 |
|
Profit and loss account |
(
5,962) |
– |
|
------- |
---- |
|
Shareholder (deficit)/funds |
(
5,961) |
1 |
|
------- |
---- |
|
|
|
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.
For the year ending 31 March 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
-
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
|
Magnolia Mae Firebrand Limited |
|
|
Statement of Financial Position (continued) |
|
31 March 2026
These financial statements were approved by the
board of directors
and authorised for issue on
30 July 2026
, and are signed on behalf of the board by:
|
Ms Gabrielle Tana |
|
|
Director |
|
|
|
Company registration number:
13780627
|
Magnolia Mae Firebrand Limited |
|
|
Notes to the Financial Statements |
|
Year ended 31 March 2026
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 99 Kenton Road, Harrow, England, HA3 0AN.
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.
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.
Intangible assets
Intangible assets are initially recorded at cost and are subsequently stated at cost less any accumulated amortisation and impairment losses. Intangible asset represents residual value of the completed film "Firebrand".
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
|
Intangible asset |
- |
Intangible asset represents residual value of completed film "Firebrand." |
|
|
|
|
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
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.
Intangible assets
|
Intangible asset |
|
£ |
|
Cost |
|
|
At 1 April 2025 and 31 March 2026 |
4,757,794 |
|
------------ |
|
Amortisation |
|
|
At 1 April 2025 and 31 March 2026 |
4,757,793 |
|
------------ |
|
Carrying amount |
|
|
At 31 March 2026 |
1 |
|
------------ |
|
At 31 March 2025 |
1 |
|
------------ |
|
|
5.
Debtors
|
2026 |
2025 |
|
£ |
£ |
|
Trade debtors |
– |
15,096 |
|
Other debtors |
623 |
– |
|
---- |
-------- |
|
623 |
15,096 |
|
---- |
-------- |
|
|
|
6.
Creditors:
amounts falling due within one year
|
2026 |
2025 |
|
£ |
£ |
|
Trade creditors |
891 |
– |
|
Other creditors |
7,500 |
19,111 |
|
------- |
-------- |
|
8,391 |
19,111 |
|
------- |
-------- |
|
|
|
7.
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 film production costs: - Carolyn Marks Blackwood - Magnolia Mae Films Limited - MBK Productions Limited The company has written off production advances from the parties as these were only repayable out of the income generated from the exploitation of the film.
8.
Controlling party
The Company’s ultimate parent company and ultimate controlling party is
Magnolia Mae Films LLC
, incorporated in USA. The company’s immediate controlling party is Magnolia Mae Productions Limited; a company incorporated in England and Wales.