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REGISTERED NUMBER: 05477336 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

LIQUID FILMS LIMITED

| LIQUID FILMS LIMITED (REGISTERED NUMBER: 05477336) |

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 3 |

| LIQUID FILMS LIMITED |

COMPANY INFORMATION

FOR THE YEAR ENDED 31 MARCH 2023

| DIRECTOR: | J B MacGregor

| REGISTERED OFFICE: | Room 73, Wrest House Wrest Park

| Silsoe

| Bedford

| MK45 4HR

| REGISTERED NUMBER: | 05477336 (England and Wales)

| ACCOUNTANTS: | MDG Business Associates Limited

| Room 73

| Wrest House

| Wrest Park

| Silsoe

| Bedfordshire

| MK45 4HR

| LIQUID FILMS LIMITED (REGISTERED NUMBER: 05477336) |

BALANCE SHEET

31 MARCH 2023

| 2023 | 2022 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 3,013 |  | 8,708 |  |

Investments | 5 | 39,189 |  | 29,865 |  |

42,202 |  | 38,573 |  |

CURRENT ASSETS

Stocks | 1,105 |  | - |  |

Debtors | 6 | 8,250 |  | 8,250 |  |

Cash at bank | 12,507 |  | 18,394 |  |

21,862 |  | 26,644 |  |

CREDITORS

Amounts falling due within one year | 7 | 9,751 |  | 10,714 |  |

NET CURRENT ASSETS | 12,111 |  | 15,930 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 54,313 |  | 54,503 |  |

CREDITORS

Amounts falling due after more than one year | 8 | 5,238 |  | 10,000 |  |

NET ASSETS | 49,075 |  | 44,503 |  |

CAPITAL AND RESERVES

Called up share capital | 9 | 100 |  | 100 |  |

Retained earnings | 48,975 |  | 44,403 |  |

SHAREHOLDERS' FUNDS | 49,075 |  | 44,503 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:

(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 3 October 2023 and were signed by:

J B MacGregor - Director

| LIQUID FILMS LIMITED (REGISTERED NUMBER: 05477336) |

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

1. | STATUTORY INFORMATION

| Liquid Films Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

| These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

| Turnover

| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

| Fixtures and fittings | - | 25% on cost

| Computer equipment | - | 25% on cost

| Stocks

| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

| Current or deferred taxation assets and liabilities are not discounted.

| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

| Hire purchase and leasing commitments

| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

| Business bounce back loan scheme

| The Bounce Back Loan Scheme (BBLS) enables smaller businesses to access finance more quickly during the Coronavirus outbreak. The scheme helps small and medium-sized businesses to borrow between £2,000 and up to 25% of their turnover. The maximum loan available is £50,000. The government guarantees 100% of the loan and there are no fees or interest to pay in the first 12 months. After 12 months the interest rate will be 2.5% a year.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 1 (2022 - 1 ) .

| LIQUID FILMS LIMITED (REGISTERED NUMBER: 05477336) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2023

4. | TANGIBLE FIXED ASSETS

| Fixtures |

| and |  | Computer |

| fittings |  | equipment |  | Totals

£ | £ | £ |

| Cost

| At 1 April 2022

| and 31 March 2023 | 21,910 |  | 3,411 |  | 25,321 |  |

| Depreciation

| At 1 April 2022 | 13,420 |  | 3,193 |  | 16,613 |  |

| Charge for year | 5,477 |  | 218 |  | 5,695 |  |

| At 31 March 2023 | 18,897 |  | 3,411 |  | 22,308 |  |

| Net book value

| At 31 March 2023 | 3,013 |  | - |  | 3,013 |  |

| At 31 March 2022 | 8,490 |  | 218 |  | 8,708 |  |

5. | FIXED ASSET INVESTMENTS

| Investments (neither listed nor unlisted) were as follows:

2023 | 2022 |

£ | £ |

| Art collection | 39,189 |  | 29,865 |  |

6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2023 | 2022 |

£ | £ |

| Trade debtors | 8,250 |  | 8,250 |  |

7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2023 | 2022 |

£ | £ |

| Bank loans and overdrafts | 2,381 |  | - |  |

| Corporation tax | 5,458 |  | 7,362 |  |

| Other creditors | 896 |  | 1,113 |  |

| Director's loan account | 266 |  | 1,489 |  |

| Accruals and deferred income | 750 |  | 750 |  |

9,751 |  | 10,714 |  |

| The bank loan relates to a Business Bounce Back Loan undertaken in the prior year. No interest is payable in year one and is charged at 2.5% per annum thereafter. There are no set repayment terms in place.

8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

2023 | 2022 |

£ | £ |

| Bank loans - 1-2 years | 5,238 |  | 10,000 |  |

| The bank loan relates to a Business Bounce Back Loan undertaken in the prior year. No interest is payable in year one and is charged at 2.5% per annum thereafter. There are no set repayment terms in place.

| LIQUID FILMS LIMITED (REGISTERED NUMBER: 05477336) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2023

9. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2023 | 2022 |

| value: | £ | £ |

| 100 | Ordinary | 1 | 100 |  | 100 |  |

10. | RELATED PARTY DISCLOSURES

| At the balance sheet date, the company owed a total amount of £266 (2022: £1,489) to the director. No interest has been charged on this loan during the year (2022: £Nil) and there are no set repayment terms in place.