ACCOUNTS - Final Accounts

Commitments under operating lease

At 30 June 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

MICHAEL GRANDAGE COMPANY LIMITED - Company Information

Caseware UK (AP4) 2022.0.179 2022.0.179 2023-06-302023-06-302022-07-01falseNo description of principal activity44falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 07656513 2022-07-01 2023-06-30 07656513 2021-07-01 2022-06-30 07656513 2023-06-30 07656513 2022-06-30 07656513 c:Director1 2022-07-01 2023-06-30 07656513 d:OtherPropertyPlantEquipment 2022-07-01 2023-06-30 07656513 d:OtherPropertyPlantEquipment 2023-06-30 07656513 d:OtherPropertyPlantEquipment 2022-06-30 07656513 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 07656513 d:CurrentFinancialInstruments 2023-06-30 07656513 d:CurrentFinancialInstruments 2022-06-30 07656513 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 07656513 d:CurrentFinancialInstruments d:WithinOneYear 2022-06-30 07656513 d:ShareCapital 2023-06-30 07656513 d:ShareCapital 2022-06-30 07656513 d:SharePremium 2023-06-30 07656513 d:SharePremium 2022-06-30 07656513 d:RetainedEarningsAccumulatedLosses 2023-06-30 07656513 d:RetainedEarningsAccumulatedLosses 2022-06-30 07656513 c:FRS102 2022-07-01 2023-06-30 07656513 c:AuditExempt-NoAccountantsReport 2022-07-01 2023-06-30 07656513 c:FullAccounts 2022-07-01 2023-06-30 07656513 c:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 07656513 d:WithinOneYear 2023-06-30 07656513 d:WithinOneYear 2022-06-30 07656513 d:BetweenOneFiveYears 2023-06-30 07656513 d:BetweenOneFiveYears 2022-06-30 07656513 6 2022-07-01 2023-06-30 iso4217:GBP xbrli:pure

Registered number: 07656513

MICHAEL GRANDAGE COMPANY LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2023

MICHAEL GRANDAGE COMPANY LIMITED

REGISTERED NUMBER: 07656513

STATEMENT OF FINANCIAL POSITION

AS AT 30 JUNE 2023

		2023		2022
Note		£		£

Fixed assets
Tangible assets	5		1,294		1,726
Investments	6		3		3
			1,297		1,729
Current assets
Investment in Productions	7	37,500		149,191
Debtors: amounts falling due within one year	8	491,248		700,060
Cash at bank and in hand		912,344		787,387
		1,441,092		1,636,638
Creditors: amounts falling due within one year	9	(370,297)		(470,982)
Net current assets			1,070,795		1,165,656
Total assets less current liabilities			1,072,092		1,167,385

Net assets			1,072,092		1,167,385

Capital and reserves
Called up share capital	100	100
Share premium account	249,997	249,997
Profit and loss account	821,995	917,288
	1,072,092	1,167,385

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MICHAEL GRANDAGE COMPANY LIMITED

REGISTERED NUMBER: 07656513

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 30 JUNE 2023

The directors consider 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 directors acknowledge their 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 income and retained earnings 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 19 March 2024.

M Grandage

Director

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MICHAEL GRANDAGE COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

1.	General information

Michael Grandage Company Limited is a private company limited by shares and incorporated in England and Wales. The address of the registered office is Fourth Floor, Wyndham's Theatre, Charing Cross Road, London, WC2H 0DA.

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.

2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

2.3

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Turnover comprises revenue recognised by the company in respect of general management fees, profit shares, royalties, merchandise, producer fees and agent commissions exclusive of Value Added Tax.

2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

2.5

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants of a revenue nature are recognised in the statement of income and retained earnings in the same period as the related expenditure.

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MICHAEL GRANDAGE COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

2.6

Pensions

The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.

2.7

Taxation

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.

2.8

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.

Depreciation is provided on the following basis:

Other fixed assets

25% reducing balance

2.9

Valuation of investments

Investments held as fixed assets are shown at cost less provision for impairment.

2.10

Associates and joint ventures

Associates and Joint Ventures are held at cost less impairment.

2.11

Investments in productions

Investments in productions are carried forward at the lower of cost and estimated net realisable value.

2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid.

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MICHAEL GRANDAGE COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

3.	Judgments in applying accounting policies and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the reporting date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates.
Accruals
The company makes an estimate of accruals at the year end based on invoices received after the year end and work undertaken which has not been invoiced based on quotations or estimates of amounts that may be due for payment.
Tangible assets
Tangible assets are depreciated over their useful lives taking into account residual values where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending upon a number of factors. In re-assessing the assets' lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account.

Employees

The average monthly number of employees, including directors, during the year was 4 (2022 - 4).

5.	Tangible fixed assets

		Other fixed assets
		£
	Cost or valuation
	At 1 July 2022	19,588
	At 30 June 2023	19,588
	Depreciation
	At 1 July 2022	17,862
	Charge for the year on owned assets	432
	At 30 June 2023	18,294
	Net book value
	At 30 June 2023	1,294
	At 30 June 2022	1,726

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MICHAEL GRANDAGE COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

6.	Fixed asset investments

	Investments in subsidiary companies	Investments in associates	Total
	£	£	£
Cost or valuation
At 1 July 2022	2	1	3
At 30 June 2023	2	1	3

7.	Investment in productions
		2023	2022
		£	£

	Work in progress	37,500	149,191

Debtors

					2023	2022
					£	£


Other debtors	23,962	2,586
Prepayments and accrued income	467,286	697,474
	491,248	700,060

9.	Creditors: Amounts falling due within one year
		2023	2022
		£	£

Credit Card	-	775
Corporation tax	293,124	293,720
Other taxation and social security	5,134	2,034
Other creditors	5,025	14,878
Accruals and deferred income	67,014	159,575
	370,297	470,982

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MICHAEL GRANDAGE COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

10.	Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £2,199 (2022: £1,938). Amounts owed to the fund at the reporting date totalled £607 (2022: £521).

Not later than 1 year	31,500	31,500
Later than 1 year and not later than 5 years	84,032	115,500
	115,532	147,000

12.	Related party transactions
	There were no transactions with related parties that are material and have not been conducted under normal market conditions.

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