COMPANY REGISTRATION NUMBER:
09737725
|
Filleted Financial Statements |
|
|
Statement of Financial Position |
|
31 December 2024
Current assets
|
Debtors |
5 |
1,278 |
– |
|
Cash at bank and in hand |
79,061 |
86,502 |
|
-------- |
-------- |
|
80,339 |
86,502 |
|
|
|
|
|
Creditors: amounts falling due within one year |
6 |
(
80,338) |
(
86,501) |
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-------- |
-------- |
|
Net current assets |
1 |
1 |
|
---- |
---- |
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Total assets less current liabilities |
1 |
1 |
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---- |
---- |
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Net assets |
1 |
1 |
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---- |
---- |
|
|
|
|
Capital and reserves
|
Called up share capital |
7 |
1 |
1 |
|
---- |
---- |
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Shareholders funds |
1 |
1 |
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---- |
---- |
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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 comprehensive income 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
26 August 2026
, and are signed on behalf of the board by:
Company registration number:
09737725
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Notes to the Financial Statements |
|
Year ended 31 December 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 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.
Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Going concern
After making enquiries, the Directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the financial statements. In establishing whether to continue to report under the going concern assumption we have considered the following points: - The impact on the day to day trade of the business - The impact on the ability of our suppliers to meet our needs - The impact of our staff's ability to perform their duties - The impact on our cash position of a period of minimum activity After considering all factors, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the accounts.
Significant estimation technique adopted
Accruals are estimated by reference to purchase orders raised at the period end and estimates to complete. Payments received on account are estimated by reference to percentage of completion of the television production, as noted in "Revenue recognition" below.
Comparatives
The accounts cover the year from 1 January 2024 to 31 December 2024. The comparatives cover the period from 1 March 2023 to 31 December 2023.
The previous accounting period was shortened to align the company with the wider non-UK group, hence the figures are not entirely comparable.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying small entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under section 1A of FRS 102: (a) No cash flow statement has been presented for the company. (b) Disclosures in respect of financial instruments have not been presented.
Revenue recognition
Turnover relates to the production of the television series entitled "McMafia". It represents the value of the work done in the period, including estimates of amounts not invoiced and is stated after trade discounts, other taxes and net of VAT. 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.
Cash and cash equivalents
Cash and cash equivalents includes cash on hand, deposits held at call with financial institutions, other short-term, highly liquid investments with original maturities of three months or less that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value, bank overdrafts, and amounts in transit from payment processors for credit card and debit card transactions.
All cash and cash equivalents are at the company's free disposal.
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.
4.
Employees
The company has been incorporated to produce a television series called "McMafia". In common with the film and television industry the majority of crew are hired on short term contracts for the duration of principal photography or are self-employed.
None of the Directors received any form of remuneration.
5.
Debtors
|
2024 |
2023 |
|
£ |
£ |
|
VAT recoverable |
1,278 |
– |
|
------- |
---- |
|
|
|
6.
Creditors:
amounts falling due within one year
|
2024 |
2023 |
|
£ |
£ |
|
Trade creditors |
28,559 |
– |
|
Accruals and deferred income |
18,131 |
43,214 |
|
Social security and other taxes |
– |
5,026 |
|
Other creditors |
33,648 |
38,261 |
|
-------- |
-------- |
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80,338 |
86,501 |
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-------- |
-------- |
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7.
Called up share capital
Issued, called up and fully paid
|
2024 |
2023 |
|
No. |
£ |
No. |
£ |
|
Ordinary shares of £ 1 each |
1 |
1 |
1 |
1 |
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---- |
---- |
---- |
---- |
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|
|
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8.
Contingent liabilities
Charges have been made against the television series in favour of the following parties to secure their interests in the copyright of and title to the television series: Barclays Bank PLC (satisfied 19 February 2025) Original Talent Limited (satisfied 20 February 2025)
9.
Events after the end of the reporting period
Subsequent to the year-end, all equity shares held by Original Talent Limited (the immediate parent of Cuba Pictures Limited), were sold to Pulse Films Limited. As a result of this transaction, Pulse Films Limited has become the immediate parent undertaking of Cuba Pictures Limited. This represents a significant non-adjusting event occurring after the balance sheet date and does not reflect conditions existing at the reporting date; therefore, no adjustments have been made to the amounts recognised in these financial statements. 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.
10.
Summary audit opinion
The auditor's report dated
26 August 2026
was
unqualified
.
The senior statutory auditor was
Stephen Joberns
, for and on behalf of
Moore Kingston Smith LLP
.
11.
Related party transactions
The company has taken advantage of Section 33 of FRS 102 from disclosing transactions entered into between two or more members of a group, where any subsidiary undertaking which is a party to the transaction is wholly owned by a member of that group. No transactions took place such as are required to be disclosed under FRS 102 Section 1A.
12.
Controlling party
Cuba Pictures Limited is the immediate parent company of
CPL Godman Limited
. United Talent Agency UK Limited is the smallest group for which consolidated accounts including CPL Godman Limited
are prepared. The consolidated accounts of United Talent Agency UK Limited are available from its registered office, 1 Newman Street, London, United Kingdom, W1T 1PB. The Directors consider the ultimate parent undertaking to be United Talent Agency LLC, a company incorporated in the USA.