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REGISTERED NUMBER: 10241382 (England and Wales)















FILM ART LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023






FILM ART LIMITED (REGISTERED NUMBER: 10241382)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FILM ART LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTOR: Mr A Psimadis





SECRETARY:





REGISTERED OFFICE: 12 Oliver Close
London
W4 3RL





REGISTERED NUMBER: 10241382 (England and Wales)





ACCOUNTANTS: T. PA Accountancy Services Limited
Hale House
Unit 5
296a Green Lanes
Palmers Green
London
N13 5TP

FILM ART LIMITED (REGISTERED NUMBER: 10241382)

BALANCE SHEET
30 JUNE 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 6,414 6,005

CURRENT ASSETS
Cash at bank and in hand 28,412 20,831

CREDITORS
Amounts falling due within one year 5 4,498 4,129
NET CURRENT ASSETS 23,914 16,702
TOTAL ASSETS LESS CURRENT
LIABILITIES

30,328

22,707

CREDITORS
Amounts falling due after more than one year 6 8,200 10,969
NET ASSETS 22,128 11,738

CAPITAL AND RESERVES
Called up share capital 7 1 1
Retained earnings 8 22,127 11,737
SHAREHOLDERS' FUNDS 22,128 11,738

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

FILM ART LIMITED (REGISTERED NUMBER: 10241382)

BALANCE SHEET - continued
30 JUNE 2023


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 18 November 2023 and were signed by:





Mr A Psimadis - Director


FILM ART LIMITED (REGISTERED NUMBER: 10241382)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023


1. STATUTORY INFORMATION

Film Art 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.
Plant and machinery - 25% on reducing balance
Computer equipment - 25% on reducing balance

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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 1 ) .

FILM ART LIMITED (REGISTERED NUMBER: 10241382)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


4. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 July 2022 12,862 2,895 15,757
Additions 2,548 - 2,548
At 30 June 2023 15,410 2,895 18,305
DEPRECIATION
At 1 July 2022 8,616 1,136 9,752
Charge for year 1,699 440 2,139
At 30 June 2023 10,315 1,576 11,891
NET BOOK VALUE
At 30 June 2023 5,095 1,319 6,414
At 30 June 2022 4,246 1,759 6,005

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Corporation tax payable 3,514 3,170
Directors' current accounts 134 134
Accrued expenses 850 825
4,498 4,129

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bounce Back Loan 8,200 10,969

Amounts falling due in more than five years:

Repayable by instalments
Bounce Back Loan 8,200 10,969

FILM ART LIMITED (REGISTERED NUMBER: 10241382)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1 Ordinary £1 1 1

8. RESERVES
Retained
earnings
£   

At 1 July 2022 11,737
Profit for the year 15,390
Dividends (5,000 )
At 30 June 2023 22,127