ACCOUNTS - Final Accounts

B24 LIMITED - Company Information

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Registered number: 06138577

B24 LIMITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2019

B24 LIMITED

REGISTERED NUMBER: 06138577

BALANCE SHEET

AS AT 31 DECEMBER 2019

		2019		2018
Note		£		£


Current assets
Debtors: amounts falling due within one year	4	111,204		100
Bank and cash balances		52,082		103,896
		163,286		103,996
Creditors: amounts falling due within one year	5	(163,186)		(103,896)
Net current assets			100		100

Net assets			100		100

Capital and reserves
Called up share capital	100	100
	100	100

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 24 December 2020.

John Roebuck

Director

The notes on pages 2 to 4 form part of these financial statements.

Page 1

B24 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2019

1.	General information

B24 Limited is a private company limited by shares incorporated in the United Kingdom and registered in England. The address of its registered office is 124 Finchley Road, London, NW3 5JS and the address of its principal place of business is Pinewood Studios, Pinewood Road, Iver Heath, Buckinghamshire, SL0 0NH.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland and the Companies Act 2006.
The following principal accounting policies have been applied:

2.2

Going concern

The directors have reviewed their intentions for the company and decided that the financial statements should be drawn up on a basis other than a going concern basis. As a result, all assets have been reflected as current assets and recorded at their recoverable values.

2.3

Revenue

Turnover represents amounts receivable for services in respect of film production and 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. Turnover is measured as the fair value of the consideration received or receivable excluding value added tax.

2.4

Debtors

Short term debtors are measured at transaction price, less any impairment.

2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

2.6

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other receivables and payables, and loans from connected parties.

2.7

Creditors

Short term creditors are measured at the transaction price.

2.8

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid.

Page 2

B24 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2019

2.Accounting policies (continued)

2.9

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is GBP.

Transactions and balances

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling at the balance sheet date.

At each period end foreign currency monetary items are translated using the closing rate.

2.10

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.11

Taxation

The company is eligible to claim a tax credit on film production costs. The tax credit comprises relief based on total net costs and an additional deduction for enhanceable expenditure. The company claims a payment based on the amount of the enhanced expenditure and carries losses arising from total net costs forward against future profits. The tax credit is recognised in the statement of income and retained earnings.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

Employees

The average monthly number of employees, including directors, during the year was 5 (2018 - 5).

Debtors

					2019	2018
					£	£


Other debtors	700	100
Tax recoverable	110,504	-
	111,204	100

Page 3

B24 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2019

5.	Creditors: Amounts falling due within one year
		2019	2018
		£	£

	Other creditors	163,186	103,896

6.	Related party transactions
	The company is exempt from disclosing related party transactions with companies that are wholly owned within the group.

7.	Controlling party

The parent company is Eon Productions Limited, a company registered in England and Wales, whose registered office address is 124 Finchley Road, London, NW3 5JS.

8.	Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2019 was unqualified.

The audit report was signed on 24 December 2020 by Paul Taiano (Senior statutory auditor) on behalf of Nyman Libson Paul.

Page 4