Fiery Angel Limited is a private company limited by shares incorporated in England and Wales . The registered office is 27 Mortimer Street, London, W1T 3BL.
The financial statements are prepared in sterling , which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss .
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss , unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss , unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.
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 , bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts 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 transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
The average monthly number of persons (including directors) employed by the company during the year was:
Details of the company's subsidiaries at 31 March 2021 are as follows:
The above production companies are recognised at cost and incorporated in the United Kingdom.
Details of the company's associates at 31 March 2021 are as follows:
The above production companies are recognised at cost and incorporated in the United Kingdom.
Details of the company's joint ventures at 31 March 2021 are as follows:
The above production companies are recognised at cost and incorporated in the United Kingdom
As at the balance sheet date, the company had charges held against its property and undertakings in respect of loan facilities provided to it.
Fiery Dragons Ltd
Shares common directors with the company.
During the year, the company invoiced Fiery Dragons Ltd amounts totalling £10,938 (2020: £25,543) in respect of recharges.
As at the balance sheet date, the company was owed £848 (2020: the company owed Fiery Dragons Ltd £9,576) from Fiery Dragons Limited.
Edward Snape Ltd
Shares common directors with the company.
During the year, the company repaid Edward Snape Ltd £275,409 (2020: £Nil) in respect of loans advanced.
As at the balance sheet date, the company owed Edward Snape Ltd £Nil (2020: £275,409).
Fierylight 2010 Ltd
Shares common directors with the company.
During the year, the company invoiced Fierylight 2010 Ltd amounts totalling £866 (2020: £200,897) in respect of recharges. The company received £25,000 from Fierylight 2010 Ltd (2020: £Nil) in respect of loan repayments.
As at the balance sheet date, Fierylight 2010 Ltd owed the company £33,094 (2020: £50,000) in respect of recharges and loans advanced.
Fiery Development Ltd
Shares common directors with the company.
During the year, the company invoiced Fiery Development Ltd £Nil (2020: £7,530) in respect of recharges, and received monies totalling £40,000 (2020: £Nil) by way of a loan.
As at the balance sheet date, the company owed Fiery Development Ltd £40,000 (2020: £Nil).
Fiery Angel Entertainment Ltd
Shares common directors with the company.
During the year, the company invoiced Fiery Angel Entertainment Ltd amounts totalling £44,498 (2020: £139,950) in respect of recharges, and was invoiced amounts totalling £4,000 (2020: £4,000l) from Fiery Angel Entertainment Ltd in respect of recharges. The company received monies totalling £34,952 from Fiery Angel Entertainment Ltd (2020: £Nil) in respect of loan repayments.
As at the balance sheet date, Fiery Angel Entertainment Ltd owed the company £71,048 (2020: £91,995).
Fiery Light Kingdom Ltd
Shares common directors with the company.
During the year, the company invoiced Fiery Light Kingdom Ltd amounts totalling £Nil (2020: £28,013) in respect of producer fees and royalties, and received monies totalling £5,600 (2020: £Nil) in relation to investment monies returned.
As at the balance sheet date, Fiery Light Kingdom Ltd owed the company £Nil (2020: £Nil).
YF London Ltd
Shares common directors with the company.
During the year, the company invoiced YF London Ltd amounts totalling £Nil (2020: £9,517) in respect of recharges, and was invoiced £Nil (2020: £10,835) from YF London Ltd in respect of recharges.
As at the balance sheet date, YF London Ltd owed the company £Nil (2020: £Nil).
Hairspray 2020 Ltd
Shares common directors with the company
During the year, the company invoiced Hairspray 2020 Ltd amounts totalling £Nil (2020: £1,951) in respect of recharges.
As at the balance sheet date, the company was owed £1,951 (2020: £1,951).
Ho Bohemia Ltd
Shares common directors with the company
During the year, the company invoiced Ho Bohemia Ltd amounts totalling £27,638 (2020: £Nil) in respect of royalties, and was invoiced £65,733 (2020: £Nil) from Ho Bohemia Ltd in regards to licence fees.
As at the balance sheet date, the company was owed £3,885 (2020: £Nil) from Ho Bohemia Ltd in regards to producer profits.
Hairspray 2020 Ltd
Shares common directors with the company
During the year, the company invoiced Hairspray 2020 Ltd amounts totalling £Nil (2020: £1,951) in respect of recharges.
As at the balance sheet date, the company was owed £1,951 (2020: £1,951).
Ho Bohemia Ltd
Shares common directors with the company
During the year, the company invoiced Ho Bohemia Ltd amounts totalling £27,638 (2020: £Nil) in respect of royalties, and was invoiced £65,733 (2020: £Nil) from Ho Bohemia Ltd in regards to licence fees.
As at the balance sheet date, the company was owed £3,885 (2020: £Nil) from Ho Bohemia Ltd in regards to producer profits.