Merman Films Limited Filleted accounts for Companies House (small and micro)

MERMAN FILMS LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 09762672

Merman Films Limited

Filleted Unaudited Accounts

31 December 2022

Merman Films Limited

Statement of Financial Position

31 December 2022

	2022	2021
Note	£	£

Current assets

Debtors	4	22,440	22,368
Cash at bank and in hand		17,212	22,917
		--------	--------
		39,652	45,285

Creditors: amounts falling due within one year	5	( 27,422)	( 30,454)
		--------	--------
Net current assets		12,230	14,831
		--------	--------
Total assets less current liabilities		12,230	14,831
		--------	--------
Net assets		12,230	14,831
		--------	--------

Capital and reserves

Called up share capital	6	200	200
Profit and loss account		12,030	14,631
		--------	--------
Shareholders funds		12,230	14,831
		--------	--------

These accounts 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.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its accounts 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 accounts .

These accounts were approved by the board of directors and authorised for issue on 28 September 2023 , and are signed on behalf of the board by:

C C Mountford

Director

Company registration number: 09762672

Merman Films Limited

Notes to the Accounts

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 10 Orange Street, Haymarket, London, WC2H 7DQ, United Kingdom.

2. Statement of compliance

These accounts 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 accounts 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 accounts are prepared in sterling, which is the functional currency of the entity.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

Significant estimation technique adopted

Accruals are estimated by reference to purchase orders raised at the period end and estimates to complete. Payments received on account are estimated by reference to percentage of completion of the television production, as noted in "Turnover" above.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.

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.

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

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

4. Debtors

	2022	2021
	£	£
Trade debtors	–	21,810
Amounts owed by group undertakings	21,810	–
Prepayments and accrued income	340	–
VAT recoverable	90	558
Other debtors	200	–
	--------	--------
	22,440	22,368
	--------	--------

5. Creditors: amounts falling due within one year

	2022	2021
	£	£
Trade creditors	–	2,400
Amounts owed to group undertakings	15,422	–
Accruals and deferred income	12,000	–
Corporation tax	–	513
Other creditors	–	27,541
	--------	--------
	27,422	30,454
	--------	--------

6. Called up share capital

Issued, called up and fully paid

	2022		2021
	No.	£	No.	£
Ordinary shares of £ 1 each	200	200	200	200
	----	----	----	----

7. Related party transactions

No transactions with related parties were undertaken such as are required to be disclosed under FRS 102.