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

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COMPANY REGISTRATION NUMBER: 10327037

RPSD2 Limited

Filleted Unaudited Financial Statements

31 March 2022

RPSD2 Limited

Statement of Financial Position

31 March 2022

	2022	2021
Note	$	$

Current assets

Debtors	4	28,520	349,325

Creditors: amounts falling due within one year	5	27,499	374,027
		--------	---------
Net current assets/(liabilities)		1,021	( 24,702)
		-------	--------
Total assets less current liabilities		1,021	( 24,702)
		-------	--------
Net assets/(liabilities)		1,021	( 24,702)
		-------	--------

Capital and reserves

Called up share capital	130	130
Profit and loss account	891	( 24,832)
	-------	--------
Shareholder funds/(deficit)	1,021	( 24,702)
	-------	--------

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.

For the year ending 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act 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 23 November 2022 , 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 2022

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

	2022	2021
	$	$
Amounts owed by group undertakings and undertakings in which the company has a participating interest	28,520	1,125
Other debtors	–	348,200
	--------	---------
	28,520	349,325
	--------	---------

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

5. Creditors: amounts falling due within one year

	2022	2021
	$	$
Production advances	–	374,027
Other creditors	27,499	–
	--------	---------
	27,499	374,027
	--------	---------

Production advances are limited recourse advances to the company and are re-payable only from the income receivable from the exploitation of a motion film that the company has commissioned for production.

6. 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. Included in other creditors is $ 27,499 producer fees charged by a company with common director.

7. Controlling party

The company is a wholly owned subsidiary of Riverstone Pictures Limited , a company incorporated in Great Britain. There is not considered to be a single ultimate controlling party.