11:11 ENTERTAINMENT LIMITED |
Registered number: |
09706021 |
Balance Sheet |
as at 31 January 2023 |
|
Notes |
|
|
2023 |
|
|
2022 |
£ |
£ |
Current assets |
Work in progress |
|
|
1,176,451 |
|
|
351,718 |
Debtors |
3 |
|
339,585 |
|
|
94,593 |
Cash at bank and in hand |
|
|
33,255 |
|
|
72,042 |
|
|
|
1,549,291 |
|
|
518,353 |
|
Creditors: amounts falling due within one year |
4 |
|
(1,321,592) |
|
|
(531,858) |
|
Net current assets/(liabilities) |
|
|
|
227,699 |
|
|
(13,505) |
|
Net assets/(liabilities) |
|
|
|
227,699 |
|
|
(13,505) |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
2 |
|
|
2 |
Profit and loss account |
|
|
|
227,697 |
|
|
(13,507) |
|
Shareholders' funds |
|
|
|
227,699 |
|
|
(13,505) |
|
|
|
|
|
|
|
|
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
Derek Williamson |
Director |
Approved by the board on 10 October 2023 |
|
11:11 ENTERTAINMENT LIMITED |
Notes to the Accounts |
for the year ended 31 January 2023 |
|
|
1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. The Company is producing the British qualifying film titled "#BFF2" (the Film). All of the tunrover recognised by the Company relates only to this Film. The turnover in the profit & loss account relates to the advances/funding received from 11.11 Productions LLP, India in relation to the acquisition of the Film. |
|
|
Cost of sales |
|
Production cost of the Film is recognised in the profit & loss account as cost of sales for the amount of funding received. Balance production cost is carried forward as work in progress and is deemed recoverable from the future income/revenue of the Film. |
|
|
Work in progress |
|
Work in progress is measured at the lower of cost and estimated selling price less costs to complete and sell. Balance production cost of the Film at the balance sheet date is carried forward as work in progress on the basis that it is deemed recoverable from the future income/revenue of the Film. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. The tax credit claimed relates to the Film. Deferred tax assets based on timing differences is not applicable in respect of this Company's claim for film tax credits. |
|
|
Foreign currency translation |
|
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss. |
|
|
2 |
Employees |
2023 |
|
2022 |
Number |
Number |
|
|
Average number of persons employed by the company |
0 |
|
6 |
|
|
|
|
|
|
|
|
|
|
3 |
Debtors |
2023 |
|
2022 |
£ |
£ |
|
|
Trade debtors |
50,934 |
|
50,934 |
|
VAT receivable |
|
|
|
|
194 |
|
14,120 |
|
Other debtors |
288,457 |
|
29,539 |
|
|
|
|
|
|
339,585 |
|
94,593 |
|
|
|
|
|
|
|
|
|
|
4 |
Creditors: amounts falling due within one year |
2023 |
|
2022 |
£ |
£ |
|
|
Bank loans and overdrafts |
38,685 |
|
48,217 |
|
Advance for expenses |
- |
|
354,480 |
|
Trade creditors |
988,008 |
|
15,596 |
|
Taxation and social security costs |
- |
|
12,565 |
|
Other creditors |
294,899 |
|
101,000 |
|
|
|
|
|
|
1,321,592 |
|
531,858 |
|
|
|
|
|
|
|
|
|
|
5 |
Related party transactions |
|
|
During the year ending 31 January 2023 BreakThrough Nominees Limited invoiced the company for NIL (31 January 2022: £3,500). Brian Brake, director of BreakThrough Nominees Limited, was a nominee director of the Company and he has resigned on 01 October 2022. Brian Brake was not involved in the day to day running of the Company and had no beneficial or financial interest other than the above fee disclosed. |
|
|
6 |
Controlling party |
|
|
Mr Derek Williamson, the current Director & PSC of the Company, is the ultimate controlling party. |
|
|
7 |
Other information |
|
|
11:11 ENTERTAINMENT LIMITED is a private company limited by shares and incorporated in England. Its registered office is: |
|
c/o Suite F |
|
1-3 Canfield Place |
|
London |
|
NW6 3BT |