COMPANY REGISTRATION NUMBER:
15492462
|
Filleted Unaudited Accounts |
|
|
Statement of Financial Position |
|
28 February 2026
Current assets
|
Work in progress |
– |
15,781,563 |
|
Debtors |
5 |
4,867,560 |
3,299,289 |
|
Cash at bank and in hand |
105,137 |
34,662 |
|
------------ |
------------- |
|
4,972,697 |
19,115,514 |
|
|
|
|
|
Creditors: amounts falling due within one year |
6 |
(
4,972,597) |
(
19,115,414) |
|
------------ |
------------- |
|
Net current assets |
100 |
100 |
|
---- |
---- |
|
Total assets less current liabilities |
100 |
100 |
|
---- |
---- |
|
Net assets |
100 |
100 |
|
---- |
---- |
|
|
|
|
Capital and reserves
|
Called up share capital |
100 |
100 |
|
---- |
---- |
|
Shareholders funds |
100 |
100 |
|
---- |
---- |
|
|
|
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 comprehensive income has not been delivered.
For the year ending 28 February 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 members have not required the company to obtain an audit of its accounts 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 accounts
.
These accounts were approved by the
board of directors
and authorised for issue on
30 October 2026
, and are signed on behalf of the board by:
Company registration number:
15492462
Year ended 28 February 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 Boundary House, Cricket Field Road, Uxbridge, UB8 1QG, United Kingdom.
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 exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying small entity as defined by FRS102. As such, advantage has been taken on the following disclosure exemptions available under section 1A of FRS 102: (a) Disclosures in respect of each class of share capital have not been presented. (b) No cash flow statement has been presented for the company.
Comparatives
The accounts cover the year tp 28 February 2026. The comparatives cover the period from incorporation through to 28 February 2025, hence the results are not entirely comparable.
Judgements and key sources of estimation uncertainty
There are no material judgements or estimates used in the preparation of these financial statements.
Revenue recognition
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Revenue is recognised on delivery of the film.
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.
Work in progress
Work-in-progress relates to direct production costs, net of tax credits, subsidies and grants, incurred on productions not delivered during the period. Production costs are recognised in the profit and loss accounts as soon as the film is delivered and the related production revenue is recognised.
Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received. A grant that specifies performance conditions is recognised in income when the performance conditions are met, which for the company means recognising the income in line with production costs incurred.
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. 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 future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Intra-group borrowings are debt instruments and are initially measured at present value of the future cash flows and subsequently at amortised cost using an effective interest method.
4.
Employees
The company has been incorporated to produce a film entitled 'Son of Sardaar 2'. 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
|
2026 |
2025 |
|
£ |
£ |
|
Prepayments and accrued income |
767,023 |
– |
|
VAT recoverable |
|
|
|
AVEC recoverable |
|
|
|
Other debtors |
– |
7,000 |
|
------------ |
------------ |
|
4,867,560 |
3,299,289 |
|
------------ |
------------ |
|
|
|
6.
Creditors:
amounts falling due within one year
|
2026 |
2025 |
|
£ |
£ |
|
Trade creditors |
4,387,636 |
4,815,143 |
|
Accruals and deferred income |
572,100 |
13,893,321 |
|
Social security and other taxes |
– |
406,950 |
|
Other creditors |
12,861 |
– |
|
------------ |
------------- |
|
4,972,597 |
19,115,414 |
|
------------ |
------------- |
|
|
|
7.
Related party transactions
The company has taken advantage of the exemption, under the terms of FRS 102 Paragraph 33.1A, not to disclose related party transactions with wholly owned subsidiaries within the group. During the period all related party transactions that took place related to the production of the film entitled "Son of Sardaar 2" and arose on an arm's-length basis through the normal course of business. As such, no further transactions with related parties were undertaken such as are required to be disclosed under FRS 102 Section 1A.
8.
Controlling party
The immediate parent undertaking was Fusion Flicks Production Ltd. The ultimate controlling party is
Mr A Dalmia
, by virtue of majority shareholding.