Chief of Station UK Limited Filleted accounts for Companies House (small and micro)

CHIEF OF STATION UK LTD - Company Information

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COMPANY REGISTRATION NUMBER: 14408733

Chief of Station UK Limited

Filleted Unaudited Financial Statements

30 November 2023

Chief of Station UK Limited

Statement of Financial Position

30 November 2023

	30 Nov 23	30 Apr 23
Note	£	£

Current assets

Stocks		11,904,422	9,859,261
Debtors	5	1,333,012	1,098,359
Cash at bank and in hand		29,090	318,833
		-------------	-------------
		13,266,524	11,276,453

Creditors: amounts falling due within one year	6	12,077,666	10,505,811
		-------------	-------------
Net current assets		1,188,858	770,642
		------------	---------
Total assets less current liabilities		1,188,858	770,642
		------------	---------

Capital and reserves

Called up share capital	1	1
Profit and loss account	1,188,857	770,641
	------------	---------
Shareholders funds	1,188,858	770,642
	------------	---------

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 period ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 9 February 2024 , and are signed on behalf of the board by:

Mr E Kioussis
Director

Company registration number: 14408733

Chief of Station UK Limited

Notes to the Financial Statements

Period from 1 May 2023 to 30 November 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 3 Beaufort Close, Marlow, SL7 1EN, England.

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.

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.

Stocks

Stocks consist of work in progress and represent the development costs of film productions. The costs are recorded at the lower of cost and net realisable value, and are net of Value Added Tax.

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.

4. Employee numbers

The average number of persons employed by the company during the period amounted to 1 (2023: 1 ).

5. Debtors

	30 Nov 23	30 Apr 23
	£	£
Other debtors	1,333,012	1,098,359
	------------	------------

6. Creditors: amounts falling due within one year

	30 Nov 23	30 Apr 23
	£	£
Trade creditors	140,000	15,000
Other creditors	903	903
Production Advances	11,936,763	10,489,908
	-------------	-------------
	12,077,666	10,505,811
	-------------	-------------

7. Contingencies

Charges have been made against the company's assets including its rights, title and interest in and to the film, in favour of Argonault Entertainment L.P. and City National Bank who have advanced funds to finance film production costs.