Registered number:
00697555
EON PRODUCTIONS LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2016
|
EON PRODUCTIONS LIMITED
COMPANY INFORMATION
|
|
|
|
|
Barbara Broccoli OBE
(appointed
1 January 2016
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Chartered Accountants
&
Statutory Auditors
|
|
|
|
|
|
|
|
|
|
|
|
|
|
EON PRODUCTIONS LIMITED
CONTENTS
|
|
|
|
|
|
Independent Auditors' Report
|
|
Consolidated Statement of Comprehensive Income
|
|
Consolidated Statement of Financial Position
|
|
Company Statement of Financial Position
|
|
Consolidated Statement of Changes in Equity
|
|
Company Statement of Changes in Equity
|
|
Consolidated Statement of Cash Flows
|
|
Notes to the Financial Statements
|
|
|
EON PRODUCTIONS LIMITED
GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2016
The principal activity of the company and its group is film production and ancillary activities.
During the year the group was involved in the production of the film "Film Stars Don't Die in Liverpool".
The directors consider the results of the group for the year to be in line with expectations. The results for the year were considered satisfactory by the directors who anticipate continued growth and profitability in the foreseable future.
Principal risks and uncertainties
|
The management of the business and the process of film production are subject to a number of risks. The key business risks and uncertainties affecting the group are considered to relate to the normal commercial risks involved in the production of a film and the delivery of it at the required time.
The principal financial instruments of the group comprise bank balances, debtors and creditors. The main purpose of these instruments is to raise funds to finance the group's operations.
In respect of bank balances, liquidity risk is managed by actively monitoring balances and ensuring that funds are in place to meet liabilities as and when they fall due.
Debtors are managed in respect of credit and cash flow risk by policies concerning the credit offered to customers and the regular monitoring of amounts outstanding for both time and credit limits.
Creditors' liquidity risk is managed by ensuring sufficient funds are available to meet amounts due.
Currency risk is managed by monitoring movements in exchange rates in an effort to reduce any negative impact of those movements.
Financial key performance indicators
|
Given the nature of the business, the directors are of the opinion that analysis using key performance indicators is not necessary for an understanding of the development, performance or position of the business.
This report was approved by the board
and signed on its behalf.
Michael Wilson OBE
Director
|
|
|
Page 1
|
EON PRODUCTIONS LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2016
The directors present their report and the financial statements for the year ended 31 December 2016.
The directors who served during the year were:
|
|
Barbara Broccoli OBE
(appointed
1 January 2016
)
|
The profit for the year, after taxation, amounted to £
345,733
(2015 -
£
777,565
)
.
The company did not pay a dividend during the year.
Directors' responsibilities statement
|
The directors are responsible for preparing the Group Strategic Report, the Directors' Report and the consolidated
financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year
. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the Group and of the profit or loss of the Group for that period.
In preparing these financial statements, the directors are required to:
∙
select suitable accounting policies for the Group's financial statements and then apply them consistently;
∙
make judgments and accounting estimates that are reasonable and prudent;
∙
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
∙
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and the Group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Matters covered in the strategic report
|
As permitted by Paragraph 1A of Schedule 7 to the Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008 certain matters which are required to be disclosed in the Directors' Report have been omitted as they are included in the Strategic Report. These matters relate to financial instruments and future developments.
Page 2
|
EON PRODUCTIONS LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2016
Disclosure of information to auditors
|
Each of the persons who are
directors at the time when this Directors' Report is approved has confirmed that:
∙
so far as the director is aware, there is no relevant audit information of which the company and the Group's auditors are unaware, and
∙
the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the company and the Group's auditors are aware of that information.
Under section 487(2) of the Companies Act 2006, Nyman Libson Paul will be deemed to have been reappointed as auditors 28 days after these financial statements were sent to members or 28 days after the latest date prescribed for filing the accounts with the registrar, whichever is earlier.
This report was approved by the board and signed on its behalf.
Michael Wilson OBE
Director
|
|
|
Page 3
|
EON PRODUCTIONS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE SHAREHOLDERS OF EON PRODUCTIONS LIMITED
We have audited the financial statements of Eon Productions Limited for the year ended 31 December 2016, set out on pages 6 to 24. The relevant financial reporting framework that has been applied in their preparation is applicable law and the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice),
including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
This report is made solely to the company's members, as a body,
in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.
Respective responsibilities of Directors and Auditors
|
As explained more fully in the Directors' Responsibilities Statement on page 2, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view. Our responsibility is to audit and express an opinion on the financial statements in accordance with applicable law and International Standards on Auditing (UK and Ireland). Those standards require us to comply with the Financial Reporting Council's Ethical Standards for Auditors.
Scope of the audit of the financial statements
|
An audit involves obtaining evidence about the amounts and disclosures in the financial statements sufficient to give reasonable assurance that the financial statements are free from material misstatement, whether caused by fraud or error. This includes an assessment of whether the accounting policies are appropriate to the Group's and the parent company's circumstances and have been consistently applied and adequately disclosed; the reasonableness of significant accounting estimates made by the directors; and the overall presentation of the financial statements. In addition, we read all the financial and non-financial information in the Group Strategic Report and the Directors' Report to identify material inconsistencies with the audited financial statements and to identify any information that is apparently materially incorrect based on, or materially inconsistent with, the knowledge acquired by us in the course of performing the audit. If we become aware of any apparent material misstatements or inconsistencies we consider the implications for our report.
Opinion on financial statements
|
In our opinion the financial statements:
∙
give a true and fair view of the state of the Group's and the parent company's affairs as at 31 December 2016 and of the Group's
profit or loss for the year then ended;
∙
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
∙
have been prepared in accordance with the requirements of the Companies Act 2006.
Page 4
|
EON PRODUCTIONS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE SHAREHOLDERS OF EON PRODUCTIONS LIMITED (CONTINUED)
Opinion on other matter prescribed by the Companies Act 2006
|
In our opinion, based on the work undertaken in the course of the audit, the information given in the Group Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with those financial statements and such reports have been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
|
In the light of our knowledge and understanding of the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report and the Directors' Report.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
∙
adequate accounting records have not been kept
by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
∙
the parent company
financial statements are not in agreement with the accounting records and returns; or
∙
certain disclosures of directors' remuneration specified by law are not made; or
∙
we have not received all the information and explanations we require for our audit
.
Kenneth Dias
(Senior Statutory Auditor)
for and on behalf of
Nyman Libson Paul
Chartered Accountants
Statutory Auditors
Regina House
124 Finchley Road
London
NW3 5JS
28 September 2017
Page 5
|
EON PRODUCTIONS LIMITED
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2016
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amounts written off unlisted investments
|
|
|
|
Interest receivable and similar income
|
|
|
|
Interest payable and similar charges
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Owners of the parent company
|
|
|
|
|
|
|
|
There were no recognised gains and losses for 2016 or 2015 other than those included in the consolidated statement of comprehensive income.
|
There was no other comprehensive income for 2016 (2015:£
NIL).
|
The notes on pages 12 to 24 form part of these financial statements.
|
Page 6
|
EON PRODUCTIONS LIMITED
REGISTERED NUMBER:
00697555
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
AS AT
31 DECEMBER 2016
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Debtors due within 1 year
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Creditors: amounts falling due within one year
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Capital redemption reserve
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The financial statements were approved and authorised for issue by the board and were signed on its behalf by
:
The notes on pages 12 to 24 form part of these financial statements.
Page 7
|
EON PRODUCTIONS LIMITED
REGISTERED NUMBER:
00697555
COMPANY STATEMENT OF FINANCIAL POSITION
AS AT
31 DECEMBER 2016
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Debtors: amounts falling due within one year
|
|
|
|
|
|
Current asset investments
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Creditors: amounts falling due within one year
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Capital redemption reserve
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The financial statements were approved and authorised for issue by the board and were signed on its behalf by
:
The notes on pages 12 to 24 form part of these financial statements.
Page 8
|
EON PRODUCTIONS LIMITED
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED
31 DECEMBER 2016
|
|
Capital redemption reserve
|
|
Equity attributable to owners of parent company
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Comprehensive income for the year
|
|
|
|
|
|
|
|
|
|
|
|
Total comprehensive income for the year
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Comprehensive income for the year
|
|
|
|
|
|
|
|
|
|
|
|
Total comprehensive income for the year
|
|
|
|
|
|
|
|
|
|
|
|
Page 9
|
EON PRODUCTIONS LIMITED
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED
31 DECEMBER 2016
|
|
Capital redemption reserve
|
|
|
|
|
|
|
|
|
|
|
|
|
Comprehensive income for the year
|
|
|
|
|
|
|
|
|
|
Total comprehensive income for the year
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Comprehensive income for the year
|
|
|
|
|
|
|
|
|
|
Total comprehensive income for the year
|
|
|
|
|
|
|
|
|
|
Page 10
|
EON PRODUCTIONS LIMITED
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2016
Cash flows from operating activities
|
|
|
Profit for the financial year
|
|
|
|
|
|
Depreciation of tangible assets
|
|
|
Impairment of unlisted investments
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Increase / (decrease) in debtors
|
|
|
|
|
|
|
|
|
Net cash generated from operating activities
|
|
|
Cash flows from investing activities
|
|
|
Purchase of tangible fixed assets
|
|
|
Purchase of unlisted and other investments
|
|
|
Sale of unlisted and other investments
|
|
|
Purchase of short term unlisted investments
|
|
|
Sale of short term unlisted investments
|
|
|
|
|
|
Net cash from investing activities
|
|
|
Cash flows from financing activities
|
|
|
|
|
|
Net cash used in financing activities
|
|
|
Net increase in cash and cash equivalents
|
|
|
Cash and cash equivalents at beginning of year
|
|
|
Cash and cash equivalents at the end of year
|
|
|
|
|
|
Cash and cash equivalents at the end of year comprise:
|
|
|
|
|
|
|
|
|
|
|
|
Page 11
|
EON PRODUCTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2016
Eon Productions Limited is a private company limited by shares and incorporated in the United Kingdom. The address of its registered office is Regina House, 124 Finchley Road, London, NW3 5JS and the address of its principal place of business is Eon House, 138 Piccadilly, London, W1J 7NR.
2.
Accounting policies
|
|
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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in
the United Kingdom and the Republic of Ireland ('FRS 102') and the Companies Act 2006
.
The financial statements are presented in sterling (£).
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires Group management to exercise judgment in applying the Group's accounting policies (see note 3).
The following principal accounting policies have been applied:
The group financial statements consolidate the financial statements of Eon Productions Limited and all its subsidiary undertakings drawn up to 31 December each year.
The consolidated financial statements incorporate the financial statements of the company and its entities controlled by the group. Control is achieved where the group has the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities.
The results of subsidiaries acquired or disposed of during the year are included in total comprehensive income from the effective date of acquisition and up to the effective date of disposal, as appropriate using accounting policies consistent with those of the parent. All intra-group transactions, balances, income and expenses are eliminated in full on consolidation.
After reviewing the group's forecasts and projections, the directors have a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future. The group therefore continues to adopt the going concern basis in preparing its consolidated financial statements.
Page 12
|
EON PRODUCTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2016
2.
Accounting policies (continued)
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 provided at rates calculated to write off the cost less estimated residual value of all tangible fixed assets over their expected useful lives on the following basis:
Rentals paid under operating leases are charged to the profit or loss account on a straight line basis over the lease term.
Investments in subsidiaries are measured at cost less accumulated impairment.
Investments held as fixed asset investments are shown at cost less provision for impairment.
Short term debtors are measured at cost less accumulated impairment.
|
|
Cash and cash equivalents
|
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
Short term creditors are measured at the transaction price.
Page 13
|
EON PRODUCTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2016
2.
Accounting policies (continued)
Turnover is measured at the fair value of the consideration received or receivable, net of value added tax. Turnover includes revenue earned from film production, recharged costs and from the sale of merchandise.
Film production
A production fee is earned during the production of each feature film and is recognised evenly over the entire production period. Once the production of the feature film has been completed, the film is sold for a price equal to the total cost of production less the amount received in respect of UK Film Tax Credits.
Recharged costs
Certain administrative costs are recharged in line with an approved contract on a quarterly basis.
Merchandising income
The company operates as a licensing agent in respect of the group's merchandising deals. The company receives the gross merchandising receipts from its worldwide agents before deducting and paying out the various amounts owed to participants in line with their contracted rates.
|
|
Foreign currency translation
|
The individual financial statements of each group entity are presented in the currency of the primary economic environment in which the entity operates. These, and the results and financial position reported in the consolidated financial statements, are presented in Sterling (£).
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are recognised in profit or loss in the period in which they arise.
Exchange differences on production costs have been offset against production advances on the balance sheet. Other exchange gains and losses are recognised in the profit and loss account.
Tax is recognised in the Consolidated Statement of Comprehensive Income, 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 and the group operate and generate income.
Page 14
|
EON PRODUCTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2016
|
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 liabilites 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.
The following are the group's key sources of estimation uncertainty:
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.
Investments
At each reporting date the investments are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected investment is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.
Due to the unpredictable nature of the recoverability of investments, an impairment loss may subsequently reverse. If so, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, without going in excess of the amount which would have been determined had no impairment loss been recognised in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.
Debtors
The company makes an estimate of the recoverable value of trade and other debtors. When assessing impairment, management considers factors including the ageing profile and historical experience of each debtor.
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.
|
In the opinion of the directors, it would seriously prejudice the company's interests to disclose the turnover by each class and provide a geographical analysis.
|
|
Management fees and sundry income
|
|
|
|
|
|
|
|
|
|
|
Page 15
|
EON PRODUCTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2016
|
|
|
The operating loss is stated after charging:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation of tangible fixed assets
|
|
|
|
Fees payable to the Group's auditor and its associates for the audit of the company's annual financial statements
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Staff costs, including directors' remuneration, were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The average monthly number of employees, including the directors, during the year was as follows:
|
|
The total employee benefits of the key management personnel of Eon Productions Limited and its group were £4,774,656 (2015: £4,710,582).
|
Page 16
|
EON PRODUCTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2016
|
The highest paid director received remuneration of £2,078.306 (2015 - £1,575,563)
|
|
Other interest receivable
|
|
|
|
|
|
|
|
Interest payable and similar charges
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Page 17
|
EON PRODUCTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2016
|
|
|
|
|
Current tax on profits for the year
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Foreign tax on income for the year
|
|
|
|
|
|
|
|
|
|
|
|
Factors affecting tax charge for the year
|
|
The tax assessed for the year is lower than
(2015 - lower than)
the standard rate of corporation tax in the UK of 20%
(2015 -
20.25
%)
. The differences are explained below:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit on ordinary activities before tax
|
|
|
|
Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 20% (2015 - 20.25%)
|
|
|
|
|
|
|
|
Expenses not deductible for tax purposes, other than goodwill amortisation and impairment
|
|
|
|
Depreciation and loss on disposal of assets
|
|
|
|
|
|
|
|
Amount written back off investments
|
|
|
|
|
|
|
|
Enhanced losses arising from UK Film Tax Credit
|
|
|
|
Difference between the rate of corporation tax and the rate of relief under UK Film Tax Credit
|
|
|
|
Total tax charge for the year
|
|
|
Page 18
|
EON PRODUCTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2016
|
Parent company profit for the year
|
|
The company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of Comprehensive Income in these financial statements. The profit after tax of the parent company for the year was £407,639 (2015 - £1,034,247)
|
|
|
|
Plant, equipment & fixtures
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Charge for the period on owned assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Page 19
|
EON PRODUCTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2016
13.
Tangible fixed assets (continued)
|
|
|
Plant, equipment & fixtures
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Charge for the period on owned assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Page 20
|
EON PRODUCTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2016
|
|
Other fixed asset investments
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investments in subsidiary companies
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Page 21
|
EON PRODUCTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2016
|
|
|
|
The Eon Screen Writers' Workshop Limited
|
|
|
Artistic & literary creation
|
|
|
|
|
|
|
|
|
|
|
|
|
Frozen Film Company Limited
|
|
|
|
Bad & Beautiful Productions Limited
|
|
|
|
Rhythm Section Productions Limited
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Prepayments and accrued income
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current asset investments
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Page 22
|
EON PRODUCTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2016
|
Creditors: Amounts falling due within one year
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Taxation and social security
|
|
|
|
|
|
|
|
|
|
|
|
Accruals and deferred income
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shares classified as equity
|
|
|
Allotted, called up and fully paid
|
|
|
|
|
|
|
|
|
|
201
Ordinary
shares of £
0.01
each
|
|
|
|
Commitments under operating leases
|
|
At 31 December 2016 the Group and the company had future minimum lease payments under non-cancellable operating leases as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Later than 1 year and not later than 5 years
|
|
|
|
|
|
|
|
|
|
|
Page 23
|
EON PRODUCTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2016
|
Related party transactions
|
|
Turnover includes £8,029,163 (2015: £189,292,356) arising from transactions with Danjaq LLC, a company whose directors are closely connected with the directors of Eon Productions Limited. The amount due from Danjaq LLC at the balance sheet date was £921,770 (2015: £338,908).
Eon Productions Limited paid rent and service charge totalling £383,623 (2015: £383,066) to Audley Productions Inc, a company whose directors are closely connected with the directors of Eon Productions Limited. Eon Productions Limited received £31,240 (2015: £51,851) of management and other fees from Audley Productions Inc.
During the year, Eon Productions Limited acquired a 6.6% investment in Punchdrunk Global Ltd, a company of which B Broccoli OBE is a director, paying a consideration of £500,000 for 5000 shares.
Eon Productions Limited invested £10,600 (2015: £5,000) in Strangers (UK) Limited and £nil (2015: £50,000) in Once (UK) Limited, companies of which B Broccoli OBE is a director. During the year, £15,600 (2015: £nil) was written off the Strangers (UK) Limited investment, leaving £nil (2015: £5,000) to be repaid to Eon Productions Limited at the year end. £82,500 was recovered from Once (UK) Limited, leaving £nil (2015: £50,000) outstanding from Once (UK) Limited.
Eon Productions Limited has a cross guarantee with the bankers of B23 Limited and B24 Limited.
The company is exempt from disclosing other related party transactions as they are with companies which are wholly owned within the group.
|
The company is under the control of Barbara Broccoli OBE and Michael Wilson OBE. There is no ultimate controlling party.
Page 24
|