IMMOTION_GROUP_LIMITED - Accounts

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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

Immotion Group Limited is a private company limited by shares incorporated in England and Wales. The registered office is East Wing, Ground Floor The Victoria, Mediacity, Manchester, M50 3SP.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

Cash at bank and in hand are basic financial assets and include cash in hand and deposits held at call with banks.

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

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 company after deducting all of its liabilities.

Basic financial liabilities, including creditors and loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

On incorporation, 3 ordinary £1 shares were issued at par, which were subsequently sub-divided into 300 ordinary 1p shares.

On 12th December 2017 9,067 1p ordinary shares were issued at par.

On 12th December 2017 16,000 1p ordinary shares with an aggregate nominal value of £160 were issued at £100 each in exchange for the issued share capital of Studio Liddell Limited.

On 21st December 2017 6,030 1p ordinary shares with an aggregate nominal value of £60.30 were issued at £100 each in exchange for the issued share capital of C2K Entertainment Inc.

On 22nd December 2017 5,913 1p ordinary shares with an aggregate nominal value of £59.13 were issued for a total consideration of £591,300.

As the income statement has been omitted from the filing copy of the financial statements the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

The audit report contains an emphasis of matter as per note 9.

After the balance sheet date on 8th January 2018, 9,105 1p ordinary shares with an aggregate nominal value of £91.05 were issued at £100 each in exchange for the issued share capital of VR Acquisition (Holdings) Limited.

After the balance sheet date on 1st February 2018, 3,908 1p ordinary shares with an aggregate nominal value of £39.08 were issued at £100 each in exchange for cash.

The following amounts were outstanding at the reporting end date:

The following amounts were outstanding at the reporting end date:

In accordance with Section 1AC.35 the company has not disclosed transactions with its wholly owned subsidiary companies.

These revised financial statements and relevant notes were issued because of the correction of the original financial statements. The original financial statements omitted some group and related party transactions and the directors felt it appropriate to update all relevant financial statements in the entities affected, regardless of materiality. Our opinion is not modified in this respect.