Independent Distribution Limited Filleted accounts for Companies House (small and micro)

INDEPENDENT DISTRIBUTION LIMITED - Company Information

1 false false false false false false false false false true false false false false false false No description of principal activity 2022-01-01 Sage Accounts Production Advanced 2021 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 05549580 2022-01-01 2022-12-31 05549580 2022-12-31 05549580 2021-12-31 05549580 bus:RegisteredOffice 2022-01-01 2022-12-31 05549580 bus:OrdinaryShareClass1 2022-01-01 2022-12-31 05549580 bus:LeadAgentIfApplicable 2022-01-01 2022-12-31 05549580 bus:Director1 2022-01-01 2022-12-31 05549580 core:WithinOneYear 2022-12-31 05549580 core:WithinOneYear 2021-12-31 05549580 core:ShareCapital 2022-12-31 05549580 core:ShareCapital 2021-12-31 05549580 core:RetainedEarningsAccumulatedLosses 2022-12-31 05549580 core:RetainedEarningsAccumulatedLosses 2021-12-31 05549580 bus:SmallEntities 2022-01-01 2022-12-31 05549580 bus:Audited 2022-01-01 2022-12-31 05549580 bus:FullAccounts 2022-01-01 2022-12-31 05549580 bus:SmallCompaniesRegimeForAccounts 2022-01-01 2022-12-31 05549580 bus:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 05549580 bus:OrdinaryShareClass1 2022-12-31 05549580 bus:OrdinaryShareClass1 2021-12-31

COMPANY REGISTRATION NUMBER: 05549580

Independent Distribution Limited

Filleted Financial Statements

31 December 2022

Independent Distribution Limited

Financial Statements

Year ended 31 December 2022

Contents	Page

Officers and professional advisers	1

Statement of financial position	2

Notes to the financial statements	3

Independent Distribution Limited

Officers and Professional Advisers

Director	Mr L Roeg

Registered office	Ground Floor Hanway House,
	24-26 Hanway Street
	London,
	England
	W1T 1UH

Auditor	Riverside Accountancy Lancaster Limited
	Chartered accountants & statutory auditor
	Second Floor, Riverside Offices
	26 St George's Quay
	Lancaster
	LA1 1RD

Bankers	Coutts & Co
	440 Strand
	London
	WC2R 0QS

Independent Distribution Limited

Statement of Financial Position

31 December 2022

	2022	2021
Note	£	£

Current assets

Debtors	4	3,461	3,432
Cash at bank and in hand		3,212	902
		-------	-------
		6,673	4,334

Creditors: amounts falling due within one year	5	48,150	47,739
		--------	--------
Net current liabilities		41,477	43,405
		--------	--------
Total assets less current liabilities		( 41,477)	( 43,405)
		--------	--------
Net liabilities		( 41,477)	( 43,405)
		--------	--------

Capital and reserves

Called up share capital	6	1	1
Profit and loss account		( 41,478)	( 43,406)
		--------	--------
Shareholders deficit		( 41,477)	( 43,405)
		--------	--------

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.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 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 20 September 2023 , and are signed on behalf of the board by:

Mr L Roeg
Director

Company registration number: 05549580

Independent Distribution Limited

Notes to the Financial Statements

Year ended 31 December 2022

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Ground Floor Hanway House,, 24-26 Hanway Street, London,, W1T 1UH, England.

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 on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

During the past couple of years the company has been developing its portfolio of digital rights. It is the intention of the company to continue these activities and accordingly will in a least the medium term, continue to be dependent upon the support of its parent company. Its parent company has undertaken not to seek repayment until at least 31 December 2023 unless the company is in a position to do so. The company's cash flow forecast for the period to 31 December 2023 suggests that the company will require additional support for at least that period. The company has received assurances from its parent that it anticipates being able to meet any funding requirements in that period. Based on these undertakings the directors considers its appropriate to prepare the financial statements on a going concern basis.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

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. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Debtors

	2022	2021
	£	£
Other debtors	3,461	3,432
	-------	-------

5. Creditors: amounts falling due within one year

	2022	2021
	£	£
Other creditors	48,150	47,739
	--------	--------

6. Called up share capital

Issued, called up and fully paid

	2022		2021
	No.	£	No.	£
Ordinary shares of £ 1 each	1	1	1	1
	----	----	----	----

7. Summary audit opinion

The auditor's report for the year dated 20 September 2023 was unqualified.

The senior statutory auditor was Penelope Bowden ACA , for and on behalf of Riverside Accountancy Lancaster Limited .

8. Controlling party

The immediate parent company is Independent Film Productions Limited a company registered in England and Wales, and ultimate parent company is Living Capital Group Limited, a company incorporated in Malta. The ultimate controlling party is Andreas Versteegh, a national and resident of Sweden. Mr Versteegh owns and controls 100% of Living Capital Group Limited. The ultimate controlling party that produces consolidated accounts is Living Capital Group Limited whose registered office is Nouv, Triq MRO, Frank Gallea, Zebbug, ZBG 9019 Malta.