SN Movie Productions Ltd Filleted accounts for Companies House (small and micro)
SN Movie Productions Ltd Filleted accounts for Companies House (small and micro)
COMPANY REGISTRATION NUMBER:
12351695
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Statement of Financial Position |
31 Dec 20 |
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Note |
£ |
Current assets
Debtors |
6 |
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Creditors: amounts falling due within one year |
7 |
(
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--------- |
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Net current assets |
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---- |
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Total assets less current liabilities |
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---- |
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Net assets |
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---- |
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Capital and reserves
Called up share capital |
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---- |
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Shareholders funds |
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---- |
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In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
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
;
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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
5 March 2021
, and are signed on behalf of the board by:
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Director |
Company registration number:
12351695
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Notes to the Accounts |
Period from 6 December 2019 to 31 December 2020
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 11 Portland Mews, London, W1F 8JL, England.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
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.
Comparatives
The accounts cover the period from incorporation through to 31 December 2020, 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.
Judgements and key sources of estimation uncertainty
Revenue recognition
Income tax
Financial instruments
4.
Employees
The company has been incorporated to produce a film entitled "Silent Night". 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.
Tax on loss
Major components of tax income
Period from |
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6 Dec 19 to |
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31 Dec 20 |
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£ |
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Current tax:
UK current tax income |
(
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--------- |
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Tax on loss |
(
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--------- |
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Reconciliation of tax income
The tax assessed on the loss on ordinary activities for the period is lower than the
standard rate of corporation tax in the UK
of
19
%.
Period from |
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6 Dec 19 to |
|
31 Dec 20 |
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£ |
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Loss on ordinary activities before taxation |
(
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--------- |
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Film tax relief |
(481,693) |
--------- |
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6.
Debtors
31 Dec 20 |
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£ |
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Prepayments and accrued income |
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VAT recoverable |
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Corporation tax recoverable |
481,693
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Other debtors |
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--------- |
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--------- |
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7.
Creditors:
amounts falling due within one year
31 Dec 20 |
|
£ |
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Bank loans and overdrafts |
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Trade creditors |
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Accruals and deferred income |
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Production loan |
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--------- |
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--------- |
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The loan has been secured against the anticipated future film tax credit.
8.
Related party transactions
During the period, all related-party transactions that took place related to the production of the film entitled "Silent Night" and arose on an arm's-length basis through the normal course of business. As such, no transactions with related parties were undertaken such as are required to be disclosed under FRS 102 Section 1A.
9.
Controlling party
In the opinion of the directors the immediate parent undertaking is
SN Movie Holdings Limited
, a company incorporated in England and Wales. During the period, there was no direct or ultimate controlling party.