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REGISTERED NUMBER: 03986246 (England and Wales)











Unaudited Financial Statements

for the Year Ended 31 May 2023

for

Smudge Films Limited

Smudge Films Limited (Registered number: 03986246)






Contents of the Financial Statements
for the Year Ended 31 May 2023




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 6


Smudge Films Limited

Company Information
for the Year Ended 31 May 2023







DIRECTOR: S R Aboud



SECRETARY: K M Rowland



REGISTERED OFFICE: The Limes
32 Bridge Street
Thetford
Norfolk
IP24 3AG



REGISTERED NUMBER: 03986246 (England and Wales)



ACCOUNTANTS: Knights Lowe
The Limes
32 Bridge Street
Thetford
Norfolk
IP24 3AG



BANKERS: Lloyds TSB Bank plc
35 King Street
Thetford
Norfolk
IP24 2AX

Smudge Films Limited (Registered number: 03986246)

Balance Sheet
31 May 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,443 594

CURRENT ASSETS
Debtors 5 26,922 -
Cash at bank 23,817 40,622
50,739 40,622
CREDITORS
Amounts falling due within one year 6 21,559 45,196
NET CURRENT ASSETS/(LIABILITIES) 29,180 (4,574 )
TOTAL ASSETS LESS CURRENT LIABILITIES 30,623 (3,980 )

PROVISIONS FOR LIABILITIES 7 282 113
NET ASSETS/(LIABILITIES) 30,341 (4,093 )

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 30,241 (4,193 )
SHAREHOLDERS' FUNDS 30,341 (4,093 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

Smudge Films Limited (Registered number: 03986246)

Balance Sheet - continued
31 May 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 7 February 2024 and were signed by:





S R Aboud - Director


Smudge Films Limited (Registered number: 03986246)

Notes to the Financial Statements
for the Year Ended 31 May 2023

1. STATUTORY INFORMATION

Smudge 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.
Computers and cameras - 33% on cost
Fixtures and equipment - 15% on reducing balance

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, and loans from banks or other related parties.

(i) Financial assets

Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at market rate of interest.

(ii) Financial liabilities

Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at market rate of interest.

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.


Smudge Films Limited (Registered number: 03986246)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

2. ACCOUNTING POLICIES - continued
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.

Going concern
The financial statements have been prepared on the going concern basis which assumes that the company will continue as a going concern for the foreseeable future. The validity of this assumption depends on the company making positive net cash flows in the future. The director expects to make positive net cash flows and accordingly the director believes it appropriate to prepare the financial statements on a going concern basis.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2022 19,245
Additions 1,399
At 31 May 2023 20,644
DEPRECIATION
At 1 June 2022 18,651
Charge for year 550
At 31 May 2023 19,201
NET BOOK VALUE
At 31 May 2023 1,443
At 31 May 2022 594

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 26,922 -

Smudge Films Limited (Registered number: 03986246)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 17,470 18,246
Other creditors 4,089 26,950
21,559 45,196

7. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Capital allowances in excess of depreciation 282 113

Deferred
tax
£   
Balance at 1 June 2022 113
Provided during year 169
Movement in the year
Balance at 31 May 2023 282

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2023 and 31 May 2022:

2023 2022
£    £   
S R Aboud
Balance outstanding at start of year (22,960 ) 5,283
Amounts advanced 77,813 30,525
Amounts repaid (37,511 ) (58,768 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 17,342 (22,960 )