COMPANY REGISTRATION NUMBER:
15050845
|
Filleted Unaudited Financial Statements |
|
|
Statement of Financial Position |
|
30 April 2026
Current assets
|
Debtors |
4 |
775,152 |
3,309,301 |
|
Cash at bank and in hand |
76,378 |
640,052 |
|
--------- |
------------ |
|
851,530 |
3,949,353 |
|
|
|
|
|
Creditors: amounts falling due within one year |
5 |
851,529 |
3,949,352 |
|
--------- |
------------ |
|
Net current assets |
1 |
1 |
|
---- |
---- |
|
Total assets less current liabilities |
1 |
1 |
|
---- |
---- |
|
Net assets |
1 |
1 |
|
---- |
---- |
|
|
|
|
Capital and reserves
|
Called up share capital |
1 |
1 |
|
---- |
---- |
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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 income and retained earnings has not been delivered.
For the year ending 30 April 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 directors acknowledge their 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
30 July 2026
, and are signed on behalf of the board by:
Company registration number:
15050845
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Notes to the Financial Statements |
|
Year ended 30 April 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, HA3 0AN, 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.
Judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. Critical judgements The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements. Independent Film Credit The key accounting estimate within the financial statements for this company is the value of qualifying expenditure as per HMRC legislations and guidance plus assessment of the qualification of the underlying production as eligible for the tax relief. In the directors opinion, there were no other critical judgements or other estimation uncertainties in these financial statements.
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. 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.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
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
|
2026 |
2025 |
|
£ |
£ |
|
Trade debtors |
– |
1,399,628 |
|
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
1 |
1 |
|
Other debtors |
775,151 |
1,909,672 |
|
--------- |
------------ |
|
775,152 |
3,309,301 |
|
--------- |
------------ |
|
|
|
5.
Creditors:
amounts falling due within one year
|
2026 |
2025 |
|
£ |
£ |
|
Trade creditors |
435 |
871,441 |
|
Social security and other taxes |
8,625 |
647,994 |
|
Other creditors |
799,576 |
15,929 |
|
Other creditors |
42,893 |
2,413,988 |
|
--------- |
------------ |
|
851,529 |
3,949,352 |
|
--------- |
------------ |
|
|
|
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 the following who have advanced funds to finance film production costs: The Last Ripley LLC Head Gear Films Fn Ltd Carolyn Marks Blackwood
7.
Related party transactions
The company paid to Brouhaha Entertainment Limited, a company in which Ms. Gabrielle Tana is a director, £136,695 (2025: £193,845) in respect of producers services fees and reimbursement of expenses.
8.
Controlling party
The company's ultimate parent company and ultimate controlling party is
Switzerland Rights Limited
a company incorporated in England and Wales.