ROTH PRODUCTIONS LTD
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Notes to the Accounts |
for the period from 1 December 2019 to 31 May 2021
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1 |
Accounting policies |
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Basis of preparation |
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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).
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Turnover |
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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 as "Rat on the Highway" (the Film). The turnover recognised by the Company relates only to this Film.
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Cost of sales |
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Production cost of the Film is recognised in the profit & loss account as cost of sales for the amount of funding received from the Acquirer. Balance Production cost is carried forward as Work in progress and is deemed recoverable from future income/revenue of the Film.
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Work in progress |
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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 on the basis that it is deemed recoverable from the future income/revenue of the Film.
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Taxation |
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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.
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Foreign currency translation |
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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.
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2 |
Employees |
2021 |
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2019 |
Number |
Number |
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Average number of persons employed by the company |
0 |
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5 |
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3 |
Debtors |
2021 |
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2019 |
£ |
£ |
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VAT receivable |
- |
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61,531 |
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Other debtors |
556,157 |
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428,001 |
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556,157 |
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489,532 |
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4 |
Creditors: amounts falling due within one year |
2021 |
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2019 |
£ |
£ |
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Bank loans and overdrafts |
50,000 |
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- |
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VAT payable |
3,312 |
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- |
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Trade creditors |
300,937 |
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667,765 |
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Taxation and social security costs |
4,875 |
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11,379 |
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Other creditors |
530,140 |
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292,040 |
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889,264 |
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971,184 |
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5 |
Related party transactions |
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For the period ending 31 May 2021, Vaishali Paatil invoiced the company for £1,666 (30/11/2019 - £50,000) towards reimbursement of expenses incurred for the Film which are fully paid.
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6 |
Controlling party |
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Mr. Mohan Chelladurai is the ultimate controlling party on the basis of more than 75% ownership and control of the Company.
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7 |
Other information |
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ROTH PRODUCTIONS LTD is a private company limited by shares and incorporated in England. Its registered office is: |
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23-24 Greek Street |
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London |
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W1D 4DZ |