RPSD2 Limited Filleted accounts for Companies House (small and micro)

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COMPANY REGISTRATION NUMBER: 10327037

RPSD2 Limited

Filleted Financial Statements

31 March 2020

RPSD2 Limited

Statement of Financial Position

31 March 2020

	2020	2019
Note	$	$

Current assets

Debtors	4	1,125	376,184

Creditors: amounts falling due within one year	5	995	376,054
		-------	---------
Net current assets		130	130
		----	----
Total assets less current liabilities		130	130
		----	----

Capital and reserves

Called up share capital	130	130
	----	----
Shareholder funds	130	130
	----	----

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 30 September 2020 , and are signed on behalf of the board by:

Mr N Bower

Director

Company registration number: 10327037

RPSD2 Limited

Notes to the Financial Statements

Year ended 31 March 2020

1. General information

The company is a private company limited by shares, incorporated in England and Wales. The address of the registered office is 99 Kenton Road, Kenton, Harrow, Middlesex, HA3 0AN and its principal place of business is at 72 Wells Street, London, W1T 3QF. The company's registered number is 10327037 .

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 under the historical cost convention, as modified by the method used to translate the issued share capital to US dollars, and in accordance with applicable accounting standards. The statements are prepared in US Dollars which is the functional and presentation currency of the company.

Judgements and key sources of estimation uncertainty

In the application of the Company's accounting policies, management are required to make judgements, estimates and assumptions about the carrying amounts 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 estimates. The following summarises the judgements, estimates and assumptions that may cause amounts recognised or or disclosed to change in following reporting periods: Turnover Turnover is recognised only to the extent that it is receivable. Debtors and creditors The debtors which are to be recovered from the exploitation of a specific motion film and are unlikely to be recovered, then such amounts are written off in the statement of comprehensive income. Corresponding creditors which are to be repaid from the exploitation receipt of a specific motion film are also written off to the statement of comprehensive income at the same time.

Revenue recognition

Turnover is amounts receivable for services rendered.

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. The taxation expense may also include amounts receivable or payable from or to fellow subsidiary or parent company in lieu of tax losses surrendered or claimed.

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.

4. Debtors

	2020	2019
	$	$
Amounts owed by group undertakings and undertakings in which the company has a participating interest	1,125	1,184
Other debtors	–	375,000
	-------	---------
	1,125	376,184
	-------	---------

The amounts owed by group undertakings are unsecured, interest free and repayable on demand.

5. Creditors: amounts falling due within one year

	2020	2019
	$	$
Production advances	–	375,000
Other creditors	995	1,054
	----	---------
	995	376,054
	----	---------

6. Summary audit opinion

The auditor's report for the year dated 30 September 2020 was unqualified.

The senior statutory auditor was SIRISHKUMAR V MALDE FCCA , for and on behalf of Malde & Co .

7. Related party transactions

The company has taken advantage of the exemption conferred by FRS 102 from disclosing details of transactions with other wholly owned group companies.

8. Controlling party

The controlling party is Riverstone Pictures Limited . The parent undertaking of the largest and smallest group undertakings for which group accounts have been prepared is Riverstone Pictures Limited , whose registered office address is 99 Kenton Road, Kenton, Harrow, Middlesex HA3 0AN . Copies of the group accounts of Riverstone Pictures Limited are available from Companies House, Crown Way, Cardiff CF14 3UZ.