COMPANY REGISTRATION NUMBER:
NI699984
|
Filleted Unaudited Financial Statements |
|
|
Statement of Financial Position |
|
14 August 2025
Current assets
|
Stocks |
– |
7,105,368 |
|
Debtors |
4 |
39,493 |
77,771 |
|
Cash at bank and in hand |
3,928 |
31,805 |
|
-------- |
------------ |
|
43,421 |
7,214,944 |
|
|
|
|
|
Creditors: amounts falling due within one year |
5 |
43,420 |
7,214,943 |
|
-------- |
------------ |
|
Net current assets |
1 |
1 |
|
---- |
---- |
|
Total assets less current liabilities |
1 |
1 |
|
---- |
---- |
|
|
|
|
Capital and reserves
|
Called up share capital |
1 |
1 |
|
---- |
---- |
|
Shareholder funds |
1 |
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 comprehensive income has not been delivered.
For the year ending 14 August 2025 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 his responsibilities for complying with the requirements of the Act 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
7 August 2026
, and are signed on behalf of the board by:
Company registration number:
NI699984
|
Notes to the Financial Statements |
|
Year ended 14 August 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 9 Irish Street, Downpatrick, County Down, BT30 6BN, 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 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.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. 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 tax on loss represents the sum of the tax currently recoverable. The tax currently recoverable is based on relievable losses arising in the period as a result of film tax relief legislation. Relievable losses differ from net losses as reported in the profit and loss account because they include an additional deduction relating to qualifying film production expenditure and exclude items of income or expenditure that are taxable or deductible in other periods, as well as items that are never taxable or deductible. The company's tax position is calculated using tax rates that have been enacted or substantively enacted by the reporting date.
Stocks
Stocks consist of work in progress and represent film productions costs. The costs are recorded at the lower of cost and net realisable value and are net of Value Added Tax.
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. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
4.
Debtors
|
2025 |
2024 |
|
£ |
£ |
|
Other debtors |
39,493 |
77,771 |
|
-------- |
-------- |
|
|
|
5.
Creditors:
amounts falling due within one year
|
2025 |
2024 |
|
£ |
£ |
|
Trade creditors |
– |
53,767 |
|
Social security and other taxes |
– |
50 |
|
Production advances |
37,530 |
7,161,126 |
|
Other creditors |
5,890 |
– |
|
-------- |
------------ |
|
43,420 |
7,214,943 |
|
-------- |
------------ |
|
|
|
6.
Contingencies
Charges have been made against the company's assets including its rights, title and interest in and to the film, in favour of PMP World Breaker LLC who have advanced funds to finance film production costs.