ACCOUNTS - Final Accounts

SLY FOX FILMS LIMITED - Company Information

Caseware UK (AP4) 2022.0.179 2022.0.179 2022-12-312022-12-3112022-01-01falsetrueNo description of principal activity1trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 01669978 2022-01-01 2022-12-31 01669978 2021-01-01 2021-12-31 01669978 2022-12-31 01669978 2021-12-31 01669978 c:Director1 2022-01-01 2022-12-31 01669978 d:Buildings d:ShortLeaseholdAssets 2022-01-01 2022-12-31 01669978 d:Buildings d:ShortLeaseholdAssets 2022-12-31 01669978 d:Buildings d:ShortLeaseholdAssets 2021-12-31 01669978 d:PlantMachinery 2022-01-01 2022-12-31 01669978 d:FurnitureFittings 2022-01-01 2022-12-31 01669978 d:FurnitureFittings 2022-12-31 01669978 d:FurnitureFittings 2021-12-31 01669978 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 01669978 d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 01669978 d:CurrentFinancialInstruments 2022-12-31 01669978 d:CurrentFinancialInstruments 2021-12-31 01669978 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 01669978 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 01669978 d:ShareCapital 2022-12-31 01669978 d:ShareCapital 2021-12-31 01669978 d:RetainedEarningsAccumulatedLosses 2022-12-31 01669978 d:RetainedEarningsAccumulatedLosses 2021-12-31 01669978 c:OrdinaryShareClass1 2022-01-01 2022-12-31 01669978 c:OrdinaryShareClass1 2022-12-31 01669978 c:FRS102 2022-01-01 2022-12-31 01669978 c:AuditExempt-NoAccountantsReport 2022-01-01 2022-12-31 01669978 c:FullAccounts 2022-01-01 2022-12-31 01669978 c:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 01669978 d:AcceleratedTaxDepreciationDeferredTax 2022-12-31 01669978 d:AcceleratedTaxDepreciationDeferredTax 2021-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 01669978

SLY FOX FILMS LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022


SLY FOX FILMS LIMITED

CONTENTS

	Page
Statement of Financial Position	1
Notes to the Financial Statements	2 - 5


SLY FOX FILMS LIMITED REGISTERED NUMBER:01669978

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2022

		2022		2021
Note		£		£

Fixed assets
Tangible assets	4		21,581		19,522
Current assets
Debtors: amounts falling due within one year	5	1,642		1,600
Cash at bank and in hand		14,235		57,711
		15,877		59,311
Current liabilities
Creditors: amounts falling due within one year	6	(9,035)		(31,402)
Net current assets			6,842		27,909
Total assets less current liabilities			28,423		47,431
Provisions for liabilities
Deferred tax	7		(1,407)		(4,831)
Net assets			27,016		42,600

Capital and reserves
Called up share capital	8	2	2
Profit and loss account		27,014	42,598
		27,016	42,600

The director considers 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 director acknowledges her 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 comprehensive income 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 28 September 2023.

L M James

Director

The notes on pages 2 to 5 form part of these financial statements.

Page 1


SLY FOX FILMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

1.	General information

The Company's legal form is that of a private limited company incorporated in England and Wales. The Company's registered office is 5 Elstree Gate, Elstree Way, Borehamwood, Hertfordshire, WD6 1JD.
The principal activity of the company continued to be that of film production services and the exploitation of film rights on films it has previously produced.
The functional and presentational currency of the company is £ Sterling,

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.

The following principal accounting policies have been applied:

2.2

Revenue

Turnover comprises revenue recognised by the company in respect of services supplied during the year, exclusive of Value Added Tax.
Revenue is recognised on delivery of services.

2.3

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, using the straight-line method.

Depreciation is provided on the following basis:

				Improvements to premises	-	5%	Straight line
				Plant & machinery	-	20%	Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.4

Debtors

Short term debtors are measured at the transaction price, less any impairment.

Page 2


SLY FOX FILMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

2.6

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors.

2.7

Creditors

Short term creditors are measured at the transaction price.

2.8

Dividends

Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2.9

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Employees

The director was the only employee of the Company during the current and preceding periods.

Page 3


SLY FOX FILMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

4.	Tangible fixed assets

	Improve-ments to premises	Fixtures & fittings	Total
	£	£	£
Cost
At 1 January 2022	15,575	31,444	47,019
Additions	-	4,537	4,537
At 31 December 2022	15,575	35,981	51,556
Depreciation
At 1 January 2022	622	26,875	27,497
Charge for the year on owned assets	779	1,699	2,478
At 31 December 2022	1,401	28,574	29,975
Net book value
At 31 December 2022	14,174	7,407	21,581
At 31 December 2021	14,953	4,569	19,522

Debtors

					2022	2021
					£	£


Other debtors	1,470	-
Prepayments and accrued income	172	1,600
	1,642	1,600

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

Taxation and social security	4,807	11,795
Other creditors	1,743	17,462
Accruals and deferred income	2,485	2,145
	9,035	31,402

Page 4


SLY FOX FILMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

7.	Deferred taxation

		2022
		£

	At beginning of year	(4,831)
	Charged to profit or loss	3,424
	At end of year	(1,407)

The provision for deferred taxation is made up as follows:
	2022	2021
	£	£

Accelerated capital allowances

(1,407)

(4,831)

8.	Share capital
		2022	2021
		£	£

Allotted, called up and fully paid

2 Ordinary shares of £1.00 each	2	2

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