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

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COMPANY REGISTRATION NUMBER: 06413041

DNA Films Limited

Filleted Unaudited Financial Statements

30 June 2023

DNA Films Limited

Statement of Financial Position

30 June 2023

	2023		2022
Note	£	£	£

Fixed assets

Tangible assets	5	173,878	46,425
Investments	6	1,010	22
		---------	--------
		174,888	46,447

Current assets

Stocks		1,016,207	978,307
Debtors	7	683,799	643,699
Cash at bank and in hand		3,245,328	3,531,590
		------------	------------
		4,945,334	5,153,596

Creditors: amounts falling due within one year	8	( 1,000,613)		( 1,189,719)
		------------		------------
Net current assets			3,944,721	3,963,877
			------------	------------
Total assets less current liabilities			4,119,609	4,010,324

Creditors: amounts falling due after more than one year	9	–	( 43,854)
		------------	------------
Net assets		4,119,609	3,966,470
		------------	------------

Capital and reserves

Called up share capital	1,000	1,000
Profit and loss account	4,118,609	3,965,470
	------------	------------
Shareholders funds	4,119,609	3,966,470
	------------	------------

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.

For the year ending 30 June 2023 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 financial statements 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 financial statements .

DNA Films Limited

Statement of Financial Position (continued)

30 June 2023

These financial statements were approved by the board of directors and authorised for issue on 9 November 2023 , and are signed on behalf of the board by:

A Macdonald

Director

Company registration number: 06413041

DNA Films Limited

Notes to the Financial Statements

Year ended 30 June 2023

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.

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.

Production costs

(a) Projects in production

These represent acquisition or production costs incurred on incomplete productions and are disclosed at the lower of cost and net realisable value, having taken into account third party financing.

(b) Unamortised production costs

On delivery of the production, and in the subsequent life cycle of the project's exploitation, costs are written off to the profit and loss account against income on a cost recovery basis. However, where the recoverability of a specific completed project is not expected in full, a provision is made to the extent that future sales will not be sufficient to recoup the initial investment in that project.

Development costs

These costs represent amounts which have been invested in developing new projects. Where development advances received by the company are in the form of third party financing, development expenditure is matched against these advances to the extent that the advance is only repayable should any development project be subsequently produced. In all other circumstances, development costs are carried forward to the extent that they are deemed recoverable and are valued at the lower of cost and net realisable value.

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.

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.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Leasehold property	-	10% straight line
Plant and machinery	-	10% straight line
Office equipment	-	25% straight line
Motor vehicles	-	25% straight line

	Fixtures and fittings	-	25% straight line

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

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. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to Nil (2022: 3 ).

5. Tangible assets

	Land and buildings	Plant and machinery	Fixtures and fittings	Motor vehicles	Equipment	Total
	£	£	£	£	£	£
Cost
At 1 Jul 2022	20,659	15,912	67,426	91,245	33,121	228,363
Additions	270,655	–	–	–	–	270,655
	---------	--------	--------	--------	--------	---------
At 30 Jun 2023	291,314	15,912	67,426	91,245	33,121	499,018
	---------	--------	--------	--------	--------	---------
Depreciation
At 1 Jul 2022	20,159	15,911	67,425	45,622	32,821	181,938
Charge for the year	120,292	–	–	22,811	99	143,202
	---------	--------	--------	--------	--------	---------
At 30 Jun 2023	140,451	15,911	67,425	68,433	32,920	325,140
	---------	--------	--------	--------	--------	---------
Carrying amount
At 30 Jun 2023	150,863	1	1	22,812	201	173,878
	---------	--------	--------	--------	--------	---------
At 30 Jun 2022	500	1	1	45,623	300	46,425
	---------	--------	--------	--------	--------	---------

6. Investments

	Other investments other than loans
	£
Cost
At 1 July 2022	22
Additions	988
	-------
At 30 June 2023	1,010
	-------
Impairment
At 1 July 2022 and 30 June 2023	–
	-------

Carrying amount
At 30 June 2023	1,010
	-------
At 30 June 2022	22
	-------

7. Debtors

	2023	2022
	£	£
Trade debtors	37,480	162,062
Other debtors	646,319	481,637
	---------	---------
	683,799	643,699
	---------	---------

8. Creditors: amounts falling due within one year

	2023	2022
	£	£
Trade creditors	27,121	32,836
Social security and other taxes	15,264	201,763
Other creditors	958,228	955,120
	------------	------------
	1,000,613	1,189,719
	------------	------------

9. Creditors: amounts falling due after more than one year

	2023	2022
	£	£
Other creditors	–	43,854
	----	--------

10. Related party transactions

The company was under the control of A Macdonald through the current and previous period. A Macdonald is the managing director and majority shareholder.