Cipher Films Limited - Accounts to registrar (filleted) - small 18.2
Cipher Films Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Financial Statements for the Year Ended 30 August 2021 |
| for |
| Cipher Films Limited |
| Cipher Films Limited (Registered number: 04859237) |
| Contents of the Financial Statements |
| for the Year Ended 30 August 2021 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Cipher Films Limited |
| Company Information |
| for the Year Ended 30 August 2021 |
| DIRECTORS: |
| SECRETARIES: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| 24 Picton House |
| Hussar Court |
| Waterlooville |
| Hampshire |
| PO7 7SQ |
| Cipher Films Limited (Registered number: 04859237) |
| Balance Sheet |
| 30 August 2021 |
| 30.8.21 | 30.8.20 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investments | 5 |
| Film Production Costs | 6 |
| CURRENT ASSETS |
| Debtors | 7 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 8 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
| CAPITAL AND RESERVES |
| Called up share capital | 9 |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Cipher Films Limited (Registered number: 04859237) |
| Notes to the Financial Statements |
| for the Year Ended 30 August 2021 |
| 1. | STATUTORY INFORMATION |
| Cipher Films Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| Accounts are rounded to the nearest pound. |
| The accounts represent the company as an individual entity. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Tangible fixed assets |
| Plant and machinery | - |
| Office Equipment | - |
| Investments in subsidiaries |
| Investments in subsidiary undertakings are recognised at cost. |
| 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. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| Research and development |
| Any development expenditure incurred on future or current productions, before a formal production arrangement is in place is expensed as incurred. |
| Going concern |
| 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 and parent company support will be given if needed. Hence the directors consider it is appropriate to adopt the going concern basis of accounting in preparing the financial statements. |
| Cipher Films Limited (Registered number: 04859237) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 August 2021 |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2020 - NIL). |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and | Office |
| machinery | Equipment | Totals |
| £ | £ | £ |
| COST |
| At 31 August 2020 |
| and 30 August 2021 |
| DEPRECIATION |
| At 31 August 2020 |
| Charge for year |
| At 30 August 2021 |
| NET BOOK VALUE |
| At 30 August 2021 |
| At 30 August 2020 |
| 5. | FIXED ASSET INVESTMENTS |
| Shares in |
| group |
| undertakings |
| £ |
| COST |
| At 31 August 2020 |
| and 30 August 2021 |
| NET BOOK VALUE |
| At 30 August 2021 |
| At 30 August 2020 |
| 6. | FILM PRODUCTION COSTS |
| Total |
| £ |
| FAIR VALUE |
| At 31 August 2020 |
| and 30 August 2021 |
| DEPRECIATION |
| At 31 August 2020 |
| and 30 August 2021 | 391,979 |
| NET BOOK VALUE |
| At 30 August 2021 |
| At 30 August 2020 |
| Cipher Films Limited (Registered number: 04859237) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 August 2021 |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30.8.21 | 30.8.20 |
| £ | £ |
| Amounts owed by group undertakings |
| Other debtors |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30.8.21 | 30.8.20 |
| £ | £ |
| Trade creditors |
| Amounts owed to group undertakings |
| Taxation and social security |
| Other creditors |
| 9. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 30.8.21 | 30.8.20 |
| value: | £ | £ |
| Ordinary | £1 | 13,333 | 13,333 |
| 10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| 11. | FINANCIAL COMMITMENTS, GUARANTEES AND CONTINGENT LIABILITIES |
| The company entered into a sale and lease back transaction in 2006 whereby the risk and rewards of ownership have not been substantially transferred to the lessor. The finance lease is matched by a defeasance deposit such that the principal on deposit and the interest earned will be sufficient to cover the rental obligations of the lease. These deposits may only be used to settle the finance lease liabilities and therefore do not represent separate assets and liabilities, consequently these have been netted off in the accounts. |
| The value of the original loan was £882,862, (of which £154,726 is in respect of finance charges) this is to be settled by the deposit of £728,136 and interest generated of £154,726. The primary period of the agreement runs for fifteen years to April 2020. The remaining gross repayments at 31 August 2018 fall due as follows: £69,977 within one year, £141,562 within two to five years. The contingent liability would only crystallise upon the failure of the bank holding the deposit. |
| On 4 April 2011 the deposit was transferred back to the sale and leaseback partnership at the Bank of Ireland. As the deposit and lease creditor are considered to be neither an asset or a liability respectively of the company, the interest receivable and payable has not been reflected in these accounts. |
| Cipher Films Limited (Registered number: 04859237) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 August 2021 |
| 12. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to directors subsisted during the years ended 30 August 2021 and 30 August 2020: |
| 30.8.21 | 30.8.20 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| At the year end the directors owed the company £157,348 (2020: £157,348) Included within August 2020 accounts is a provision for directors loan write off totalling £157,348. |
| 13. | ULTIMATE CONTROLLING PARTY |
| The ultimate controlling party is |