Fragile Pixie Limited Filleted accounts for Companies House (small and micro)

FRAGILE PIXIE LIMITED - Company Information

0 false 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 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 11916047 2022-01-01 2022-12-31 11916047 2022-12-31 11916047 2021-12-31 11916047 2021-01-01 2021-12-31 11916047 2021-12-31 11916047 2020-12-31 11916047 bus:Director1 2022-01-01 2022-12-31 11916047 core:WithinOneYear 2022-12-31 11916047 core:WithinOneYear 2021-12-31 11916047 core:ShareCapital 2022-12-31 11916047 core:ShareCapital 2021-12-31 11916047 core:RetainedEarningsAccumulatedLosses 2022-12-31 11916047 core:RetainedEarningsAccumulatedLosses 2021-12-31 11916047 bus:SmallEntities 2022-01-01 2022-12-31 11916047 bus:AuditExemptWithAccountantsReport 2022-01-01 2022-12-31 11916047 bus:SmallCompaniesRegimeForAccounts 2022-01-01 2022-12-31 11916047 bus:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 11916047 bus:FullAccounts 2022-01-01 2022-12-31 11916047 1 2022-01-01 2022-12-31

COMPANY REGISTRATION NUMBER: 11916047

Fragile Pixie Limited

Filleted Unaudited Financial Statements

31 December 2022

Fragile Pixie Limited

Statement of Financial Position

31 December 2022

	2022	2021
Note	£	£

Current assets

Debtors	4	41,598	15,242
Cash at bank and in hand		17,399	4,010
		--------	--------
		58,997	19,252

Creditors: amounts falling due within one year	5	658,546	617,545
		---------	---------
Net current liabilities		599,549	598,293
		---------	---------
Total assets less current liabilities		( 599,549)	( 598,293)

Accruals and deferred income	5,234	6,490
	---------	---------
Net liabilities	( 604,783)	( 604,783)
	---------	---------

Capital and reserves

Called up share capital	100	100
Profit and loss account	( 604,883)	( 604,883)
	---------	---------
Shareholders deficit	( 604,783)	( 604,783)
	---------	---------

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 income and retained earnings has not been delivered.

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

Director's responsibilities:

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

- The director acknowledges his 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 18 September 2023 , and are signed on behalf of the board by:

Mr B Thompson
Director

Company registration number: 11916047

Fragile Pixie 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 Ealing Studios, Ealing Green, London, W5 5EP.

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

Going concern

The financial statements have been prepared on the going concern basis. The parent Company has agreed to provide continuing financial support to the Company for the foreseeable future, sufficient to enable it to meet its debts as they fall due.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of Value Added Tax.

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
	£	£
Trade debtors	28,575	14,056
Amounts owed by group undertakings and undertakings in which the company has a participating interest	–	1,186
Other debtors	13,023	–
	--------	--------
	41,598	15,242
	--------	--------

The amount due by group undertakings are unsecured, interest free and repayable on demand.

5. Creditors: amounts falling due within one year

	2022	2021
	£	£
Trade creditors	58,546	17,545
Production loans	600,000	600,000
	---------	---------
	658,546	617,545
	---------	---------

The amount due to group undertakings are unsecured, interest free and repayable on demand. 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. Charges

Northern Ireland Screen Commission, Paramount Pictures International Limited and Confit Productions Limited hold a charge on the company over all sums due or to become due which entitles it to the right, title, interest and benefits in and to the company's commissioned film.

7. 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.

8. Controlling party

The company is a wholly owned subsidiary of Fragile Films Limited , a company incorporated in England and Wales. B Thompson is considered to be the ultimate controlling party.