BIG SCREEN PRODUCTIONS 7 LLP

• ⚠

  Material uncertainty over going concern

  It is the intention of the members to cease trading in the Partnership in the foreseeable future and therefore as required by Financial Reporting Standard 102 Section 1A, the members have prepared the financial statements on the basis that the Partnership is no longer a going concern. No material adjustments arose as a result of ceasing to apply the going concern basis.

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

• Turnover

  -153.2%

  £102,893 → -£54,713

• Cash

  +87.4%

  £212,001 → £397,285

• Net assets

  -55.7%

  £32,813 → £14,542

• Employees

  —

  Not reported

• Profit before tax

  +103.8%

  £96,014 → £195,639

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Margin ratios are hidden where reported turnover is too small relative to profit to yield a meaningful figure — typical of holding companies whose income is mostly subsidiary dividends rather than trading revenue. Sector-distribution context coming next.

Accounting basis

FRS 102 §1A

Reporting scope

Standalone (parent only)

Abridged

Yes — abridged accounts (limited disclosure)

Auditor

Moore Kingston Smith LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“It is the intention of the members to cease trading in the Partnership in the foreseeable future and therefore as required by Financial Reporting Standard 102 Section 1A, the members have prepared the financial statements on the basis that the Partnership is no longer a going concern. No material adjustments arose as a result of ceasing to apply the going concern basis.”

Significant events

• “On 26 July 2019, Inside Track Productions LLP, Ingenious Film Partners 2 LLP and Ingenious Games LLP received the decision of the Upper Tribunal on their appeals against the decisions of the First-tier Tax Tribunal regarding enquiry closure notices issued by HMRC.”
• “The Upper Tribunal concluded that the Partnerships were not 'trading' and did not have a 'view to profit', leading to the Partnerships being taxed as body corporates subject to corporation tax.”
• “The Partnerships were granted permission to appeal the decision of the Upper Tribunal on the issues of 'trading' and 'view to profit' by the Court of Appeal in February 2020, with the appeal hearing in March 2021.”
• “The Court of Appeal's decision was received on 4 August 2021, finding in favour of the Inside Track and IFP Partnerships on "trading" and "view to profit" but dismissing Ingenious Games' appeal on the issue of "trading".”
• “Ingenious Games' application to the Supreme Court of Appeal requesting permission to appeal the Court of Appeal's decision was refused.”
• “The tax treatment for BSP 7 remains to be confirmed as part of an ongoing HMRC enquiry, with no provision for potential tax impact made in the financial statements due to inability to reasonably quantify the liability.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

16

last 12 months

Capital events

0

last 24 months

Officers appointed

0

last 12 months

Officers resigned

1

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.