Capercaillie Media Limited - Accounts to registrar (filleted) - small 23.1.5

REGISTERED NUMBER: 10634061 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2023

for

CAPERCAILLIE MEDIA LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

K J Yau

SECRETARY:

Ms R A Sarpong

REGISTERED OFFICE:

13 - 14 Buckingham Street

London

WC2N 6DF

REGISTERED NUMBER:

10634061 (England and Wales)

ACCOUNTANTS:

Shipleys LLP

Chartered Accountants

5 Godalming Business Centre

Woolsack Way

Godalming

Surrey

GU7 1XW

FIXED ASSETS

Investments

4

2

4

CURRENT ASSETS

Debtors

5

3,408,463

3,278,098

Cash at bank

20,089

753,570

3,428,552

4,031,668

CREDITORS

Amounts falling due within one year

6

1,320

28,325

NET CURRENT ASSETS

3,427,232

4,003,343

TOTAL ASSETS LESS CURRENT LIABILITIES

3,427,234

4,003,347

CAPITAL AND RESERVES

Called up share capital

7

420,736

498,028

Share premium

3,798,150

4,495,854

Retained earnings

(791,652

)

(990,535

)

SHAREHOLDERS' FUNDS

3,427,234

4,003,347

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 13 December 2023 and were signed by:

K J Yau - Director

1.	STATUTORY INFORMATION

Capercaillie Media Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The accounts are prepared in Sterling, which is the functional and presentational currency of the entity.

Going concern

The directors have reviewed the forecasts for the company and have a reasonable expectation that the company has adequate resources to continue as a going concern for the foreseeable future, being at least twelve months from the date these financial statements have been approved.

Turnover

Turnover comprises the company's revenue in respect of production and exploitation of television programmes or films during the period exclusive of Value Added Tax. Fees are recognised once the right to the income has been earned.

Turnover also includes interest earned on loan finance provided during the period. Turnover is recognised in the period in which the interest and fees fall due in accordance with the loan agreement.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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 transaction. Exchange differences are taken into account in arriving at the operating result.

Fixed asset investments

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

impairment losses.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. In the current year grant accounting has only been applied to the Job Retention Scheme launched as part of HM Government's response to the COVID-19 pandemic. Government grants have been included within Other Operating Income.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - 1 ).

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2022

4

Disposals

(2

)

At 31 March 2023

2

NET BOOK VALUE

At 31 March 2023

2

At 31 March 2022

4

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Other debtors

3,408,463

3,278,098

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade creditors

-

3,746

Other creditors

1,320

24,579

1,320

28,325

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2023

2022

value:

£

£

4,207,351

A Ordinary Shares

£0.10

420,735

498,027

10

B Ordinary Shares

£0.10

1

1

420,736

498,028

On 30/11/2022 772,918 Ordinary A Shares were cancelled and £774,996.22 returned to share holders, an amount of £697,704.42 has been charged to share premium in accordance with CA2006 s 641.

Details of the various share rights attached to each type of share capital is included in the Articles of Association.

8.	OTHER FINANCIAL COMMITMENTS

As at the reporting date, the company had no financial or other commitments or contracts for capital expenditure in place (2022: £nil).

9.	RELATED PARTY DISCLOSURES

During the period, the company paid for expenses of £nil (2022: £nil) on behalf of Lion Killer Limited, a wholly owned subsidiary of the company. As at the reporting date, £nil (2022: £nil) was due from Lion Killer Limited to the company.

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