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REGISTERED NUMBER: 07031929 (England and Wales)















Financial Statements for the Year Ended 30 April 2024

for

Oyster Island Films Limited

Oyster Island Films Limited (Registered number: 07031929)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Oyster Island Films Limited

Company Information
for the Year Ended 30 April 2024







DIRECTOR: Dr S A Franklin



REGISTERED OFFICE: 103 Station Road
Hampton
Middlesex
TW12 2BD



REGISTERED NUMBER: 07031929 (England and Wales)



BANKERS: Lloyds Bank plc
75 Castle Street
Farnham
Surrey
GU9 7LT

Oyster Island Films Limited (Registered number: 07031929)

Balance Sheet
30 April 2024

2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 16,613 11,789

CURRENT ASSETS
Stocks 5 883 -
Debtors 6 19,779 18,047
Cash at bank 245 570
20,907 18,617
CREDITORS
Amounts falling due within one year 7 48,113 19,524
NET CURRENT LIABILITIES (27,206 ) (907 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(10,593

)

10,882

PROVISIONS FOR LIABILITIES - 2,240
NET (LIABILITIES)/ASSETS (10,593 ) 8,642

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (10,693 ) 8,542
SHAREHOLDERS' FUNDS (10,593 ) 8,642

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 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.

Oyster Island Films Limited (Registered number: 07031929)

Balance Sheet - continued
30 April 2024


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 25 June 2024 and were signed by:





Dr S A Franklin - Director


Oyster Island Films Limited (Registered number: 07031929)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Oyster Island 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.

Photographic equipment - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computers and website - 40% on reducing balance

The cost of developing a new web site is depreciated at 33.3% per annum on a straight line basis.

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.


Oyster Island Films Limited (Registered number: 07031929)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

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.

Publishing costs
The Company has incurred significant costs towards the production of a new book. The book was published in Autumn 2023. These costs have been charged to profit and loss as incurred on the basis that revenues from sales of the book are unlikely to exceed costs.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Photographic Computers
equipment Vehicles and website Totals
£ £ £ £
COST
At 1 May 2023 31,303 502 20,216 52,021
Additions 11,603 - - 11,603
At 30 April 2024 42,906 502 20,216 63,624
DEPRECIATION
At 1 May 2023 23,374 478 16,380 40,232
Charge for year 4,883 24 1,872 6,779
At 30 April 2024 28,257 502 18,252 47,011
NET BOOK VALUE
At 30 April 2024 14,649 - 1,964 16,613
At 30 April 2023 7,929 24 3,836 11,789

5. STOCKS
2024 2023
£ £
Stocks 883 -

Oyster Island Films Limited (Registered number: 07031929)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 17,818 16,308
Other debtors 1,961 1,739
19,779 18,047

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade creditors 11,603 -
Taxation and social security - 120
Other creditors 36,510 19,404
48,113 19,524

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The director, Dr S A Franklin, has maintained a loan account with the company throughout the year. The loan is maintained in credit and the balance due by the company to Dr Franklin at 30 April 2024 was £32,851 (2023: £17,352).