ACCOUNTS - Final Accounts

Commitments under operating leases

At 30 June 2022 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

MICHAEL GRANDAGE COMPANY LIMITED - Company Information

Caseware UK (AP4) 2021.0.152 2021.0.152 2022-06-302022-06-3042021-07-01falseNo description of principal activity4falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 07656513 2021-07-01 2022-06-30 07656513 2020-07-01 2021-06-30 07656513 2022-06-30 07656513 2021-06-30 07656513 c:Director1 2021-07-01 2022-06-30 07656513 d:OtherPropertyPlantEquipment 2021-07-01 2022-06-30 07656513 d:OtherPropertyPlantEquipment 2022-06-30 07656513 d:OtherPropertyPlantEquipment 2021-06-30 07656513 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2021-07-01 2022-06-30 07656513 d:CurrentFinancialInstruments 2022-06-30 07656513 d:CurrentFinancialInstruments 2021-06-30 07656513 d:CurrentFinancialInstruments d:WithinOneYear 2022-06-30 07656513 d:CurrentFinancialInstruments d:WithinOneYear 2021-06-30 07656513 d:ShareCapital 2022-06-30 07656513 d:ShareCapital 2021-06-30 07656513 d:SharePremium 2022-06-30 07656513 d:SharePremium 2021-06-30 07656513 d:RetainedEarningsAccumulatedLosses 2022-06-30 07656513 d:RetainedEarningsAccumulatedLosses 2021-06-30 07656513 c:FRS102 2021-07-01 2022-06-30 07656513 c:AuditExempt-NoAccountantsReport 2021-07-01 2022-06-30 07656513 c:FullAccounts 2021-07-01 2022-06-30 07656513 c:PrivateLimitedCompanyLtd 2021-07-01 2022-06-30 07656513 d:WithinOneYear 2022-06-30 07656513 d:WithinOneYear 2021-06-30 07656513 d:BetweenOneFiveYears 2022-06-30 07656513 d:BetweenOneFiveYears 2021-06-30 07656513 6 2021-07-01 2022-06-30 iso4217:GBP xbrli:pure

Registered number: 07656513

MICHAEL GRANDAGE COMPANY LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2022

MICHAEL GRANDAGE COMPANY LIMITED

REGISTERED NUMBER: 07656513

STATEMENT OF FINANCIAL POSITION

AS AT 30 JUNE 2022

		2022		2021
Note		£		£

Fixed assets
Tangible assets	5		1,726		2,302
Investments	6		3		3
			1,729		2,305
Current assets
Investment in Productions	7	149,191		104,691
Debtors: amounts falling due within one year	8	700,060		30,860
Cash at bank and in hand		787,387		424,410
		1,636,638		559,961
Creditors: amounts falling due within one year	9	(470,982)		(146,235)
Net current assets			1,165,656		413,726
Total assets less current liabilities			1,167,385		416,031

Net assets			1,167,385		416,031

Capital and reserves
Called up share capital	100	100
Share premium account	249,997	249,997
Profit and loss account	917,288	165,934
	1,167,385	416,031

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MICHAEL GRANDAGE COMPANY LIMITED

REGISTERED NUMBER: 07656513

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 30 JUNE 2022

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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.

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 23 February 2023.

M Grandage

Director

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MICHAEL GRANDAGE COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2022

1.	General information

Michael Grandage Company Limited is a private company limited by shares and incorporated in England and Wales. The address of the registered office is Fourth Floor, Wyndham's Theatre, Charing Cross Road, London, WC2H 0DA.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

2.3

Turnover

Turnover 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 comprises revenue recognised by the company in respect of general management fees, profit shares, royalties, merchandise, producer fees and agent commissions exclusive of Value Added Tax.

2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

2.5

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants of a revenue nature are recognised in the statement of income and retained earnings in the same period as the related expenditure.

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MICHAEL GRANDAGE COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2022

2.Accounting policies (continued)

2.6

Pensions

The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.

2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Other fixed assets

25% reducing balance

2.9

Valuation of investments

Investments held as fixed assets are shown at cost less provision for impairment.

2.10

Associates and joint ventures

Associates and Joint Ventures are held at cost less impairment.

2.11

Investments in productions

Investments in productions are carried forward at the lower of cost and estimated net realisable value.

2.12

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties.

2.13

Dividends

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

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MICHAEL GRANDAGE COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2022

3.	Judgments in applying accounting policies and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the reporting date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates.
Accruals
The company makes an estimate of accruals at the year end based on invoices received after the year end and work undertaken which has not been invoiced based on quotations or estimates of amounts that may be due for payment.
Tangible assets
Tangible assets are depreciated over their useful lives taking into account residual values where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending upon a number of factors. In re-assessing the assets' lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account.

Employees

The average monthly number of employees, including directors, during the year was 4 (2021 - 4).

5.	Tangible fixed assets

		Other fixed assets
		£
	Cost or valuation
	At 1 July 2021	19,588
	At 30 June 2022	19,588
	Depreciation
	At 1 July 2021	17,286
	Charge for the year on owned assets	576
	At 30 June 2022	17,862
	Net book value
	At 30 June 2022	1,726
	At 30 June 2021	2,302

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MICHAEL GRANDAGE COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2022

6.	Fixed asset investments

	Investments in subsidiary companies	Investments in associates	Total
	£	£	£
Cost or valuation
At 1 July 2021	2	1	3
At 30 June 2022	2	1	3

7.	Investment in productions
		2022	2021
		£	£

	Work in progress	149,191	104,691

Debtors

					2022	2021
					£	£


Other debtors	2,586	5,606
Prepayments and accrued income	697,474	25,254
	700,060	30,860

9.	Creditors: Amounts falling due within one year
		2022	2021
		£	£

Credit Card	775	200
Corporation tax	293,720	46,502
Other taxation and social security	2,034	2,844
Other creditors	14,878	4,106
Accruals and deferred income	159,575	92,583
	470,982	146,235

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MICHAEL GRANDAGE COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2022

10.	Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £1,938 (2021: £2,105). Amounts owed to the fund at the reporting date totalled £521 (2021: £657).

Not later than 1 year	31,500	15,750
Later than 1 year and not later than 5 years	115,500	-
	147,000	15,750

12.	Related party transactions
	There were no transactions with related parties that are material and have not been conducted under normal market conditions.

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