| 83 FILM LIMITED |
| Notes to the Accounts |
| for the year ended 22 November 2021 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
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|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. The Company is producing the British qualifying film '83 (working title) (the Film) during the current period. All of the tunrover recognised by the Company relates only to this Film. |
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|
Cost of sales |
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Production cost of the Film is recognised in the profit & loss account as cost of sales for the amount of acquisition advances/funding received. |
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Work in progress |
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Work in progress is measured at the lower of cost and estimated selling price less costs to complete and sell. Balance production cost of the film at the balance sheet date is carried forward as Work in progress on the basis that it is deemed recoverable from the future income/revenue of the Film. |
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|
| 2 |
Employees |
2021 |
|
2020 |
| Number |
Number |
|
|
Average number of persons employed by the company |
0 |
|
0 |
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|
| 3 |
Debtors |
2021 |
|
2020 |
| £ |
£ |
|
|
Trade debtors |
2,915,000 |
|
3,460,000 |
|
VAT receivable |
|
|
|
|
1,548 |
|
- |
|
Other debtors |
5,538 |
|
526,108 |
|
|
|
|
|
|
2,922,086 |
|
3,986,108 |
|
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|
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| 4 |
Creditors: amounts falling due within one year |
2021 |
|
2020 |
| £ |
£ |
|
|
Bank loans and overdrafts |
50,000 |
|
50,000 |
|
Other secured loans |
1,719,851 |
|
2,997,017 |
|
Trade creditors |
1,705,124 |
|
1,977,032 |
|
Taxation and social security costs |
181,772 |
|
178,616 |
|
Other creditors |
5,612,798 |
|
4,175,891 |
|
|
|
|
|
|
9,269,545 |
|
9,378,556 |
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| 5 |
Loans |
2021 |
|
2020 |
| £ |
£ |
|
Creditors include: |
|
|
Secured bank loans |
1,719,851 |
|
2,997,017 |
|
|
|
|
|
|
|
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|
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Included in Creditors are:
- Secured loan of £1,719,851 (22/11/2020: £2,997,017) from Epic Financial Holdings Pte Ltd, a Singapore based company. The loan is secured against the rights of the Film. |
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| 6 |
Controlling party |
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Mr Sumit Chadha, the PSC of the Company, is ultimate controlling party |
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| 7 |
Other information |
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83 FILM LIMITED is a private company limited by shares and incorporated in England. Its registered office is: |
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c/o Suite F |
|
1-3 Canfield Place |
|
London |
|
NW6 3BT |
