COMPANY REGISTRATION NUMBER:
16508861
|
Filleted Unaudited Accounts |
|
|
Statement of Financial Position |
|
30 June 2026
Current assets
|
Debtors |
5 |
79,257 |
|
Cash at bank and in hand |
167,805 |
|
--------- |
|
247,062 |
|
|
|
|
Creditors: amounts falling due within one year |
6 |
(
247,061) |
|
--------- |
|
Net current assets |
1 |
|
---- |
|
Total assets less current liabilities |
1 |
|
---- |
|
Net assets |
1 |
|
---- |
|
|
|
Capital and reserves
|
Called up share capital |
7 |
1 |
|
---- |
|
Shareholders funds |
1 |
|
---- |
|
|
|
These accounts 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 period ending 30 June 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its accounts for the period 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 accounts
.
These accounts were approved by the
board of directors
and authorised for issue on
28 October 2026
, and are signed on behalf of the board by:
Company registration number:
16508861
Period from 10 June 2025 to 30 June 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 4.04 The Tea Building, 56 Shoreditch High Street, London, E1 6JJ, England.
2.
Statement of compliance
These accounts 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 accounts 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 accounts 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 the exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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 period from incorporation on 10 June 2025 through to 30 June 2026, hence there are no comparative figures.
The accounting period has been extended to ensure that the accounting period and tax credit claim is conterminous.
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.
Government grants
A grant that becomes receivable as compensation for expenses or losses already incurred, or for the purpose of giving immediate financial support to the entity with no future related costs, is recognised in income in the period in which it becomes receivable. During the period, the Company was entitled to the Audio Visual Expenditure Credit ('AVEC') which provides a credit of 39% on qualifying UK production expenditure incurred in the period.
Revenue recognition
Turnover relates to the production of the television series entitled "I Spy S2" and "Thames View". It represented the value of the work done in the period, including estimates of amounts not invoiced an is stated after trade discounts, other taxes and net of VAT. Revenue from the rendering 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 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.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual agreements 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 an animation series. 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
|
30 Jun 26 |
|
£ |
|
Trade debtors |
4,500 |
|
Government grant receivable |
73,557 |
|
Other debtors |
1,200 |
|
-------- |
|
79,257 |
|
-------- |
|
|
6.
Creditors:
amounts falling due within one year
|
30 Jun 26 |
|
£ |
|
Trade creditors |
17,418 |
|
Amounts owed to group undertakings |
67,453 |
|
Accruals and deferred income |
131,488 |
|
Social security and other taxes |
22,802 |
|
Other creditors |
7,900 |
|
--------- |
|
247,061 |
|
--------- |
|
|
The loan has been secured against the anticipated future audio-visual expenditure credit.
7.
Called up share capital
Issued, called up and fully paid
|
30 Jun 26 |
|
No. |
£ |
|
Ordinary shares of £ 1 each |
1 |
1 |
|
---- |
---- |
|
|
|
8.
Related party transactions
During the year the following related-party transactions took place. All transactions related to the production of the animations "Thames View and I Spy, You Spy S2" and arose on an arm's-length basis through the normal course of business. No transaction with related parties were undertaken such as required to be disclosed under FRS 102.