QM Film Productions Ltd Filleted accounts for Companies House (small and micro)
QM Film Productions Ltd Filleted accounts for Companies House (small and micro)
COMPANY REGISTRATION NUMBER:
11684818
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Statement of Financial Position |
2022 |
2021 |
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Note |
£ |
£ |
Current assets
Debtors |
6 |
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Cash at bank and in hand |
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--------- |
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Creditors: amounts falling due within one year |
7 |
(
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(
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--------- |
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Net current assets |
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---- |
---- |
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Total assets less current liabilities |
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---- |
---- |
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Net assets |
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---- |
---- |
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Capital and reserves
Called up share capital |
8 |
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---- |
---- |
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Shareholders funds |
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---- |
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In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
Director's responsibilities:
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The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476
;
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The director acknowledges his 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 November 2023
, and are signed on behalf of the board by:
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Director |
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Company registration number:
11684818
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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 77 Dean Street, London, W1D 3SH, England.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
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 film, as noted in "Revenue recognition" below.
Comparatives
The accounts cover the year from 1 January 2022 to 31 December 2022. The comparatives cover the period from 1 December 2020 to 31 December 2021.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying small entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under section 1A of FRS 102: (a) No cash flow statement has been presented for the company. (b) Disclosures in respect of financial instruments have not been presented.
Revenue recognition
Income tax
Financial instruments
4.
Employees
The company has been incorporated to produce a film entitled "The Queen Mary". In common with the film and television industry the majority of crew are hired on short term contracts for the duration of principal photography or are self-employed.
None of the Directors received any form of remuneration.
5.
Tax on loss
Major components of tax income
Period from |
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Year to |
1 Dec 20 to |
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31 Dec 22 |
31 Dec 21 |
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£ |
£ |
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Current tax:
UK current tax income |
(
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(
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Tax on loss |
(
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(
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Reconciliation of tax income
The tax assessed on the loss on ordinary activities for the year is lower than (2021: lower than) the
standard rate of corporation tax in the UK
of
19
% (2021:
19
%).
Period from |
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Year to |
1 Dec 20 to |
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31 Dec 22 |
31 Dec 21 |
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£ |
£ |
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Loss on ordinary activities before taxation |
(
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(
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Film tax relief |
(255,709) |
(1,133,327)
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6.
Debtors
2022 |
2021 |
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£ |
£ |
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Trade debtors |
– |
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Prepayments and accrued income |
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VAT recoverable |
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Corporation tax recoverable |
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Other debtors |
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7.
Creditors:
amounts falling due within one year
2022 |
2021 |
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£ |
£ |
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Trade creditors |
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Accruals and deferred income |
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Social security and other taxes |
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Production loan |
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Other creditors |
– |
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8.
Called up share capital
Issued, called up and fully paid
2022 |
2021 |
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No. |
£ |
No. |
£ |
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100 |
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100 |
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9.
Contingent liabilities
10.
Related party transactions
All transactions related to the production of the film "The Queen Mary" and arose on an arm's length basis through the normal course of business. The company has taken advantage of Section 33 of FRS 102 from disclosing transactions entered into between two or more members of a group, where any subsidiary undertaking which is party to the transaction is wholly owned by a member of that group. No further transactions with related parties were undertaken such as are required to be disclosed under FRS 102 Section 1A.
11.
Controlling party
The company was under the joint control of
L Sylvest
& Rocket Science Industries Limited
.