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Registration number: 3274598

One Day Films Limited
Annual Report and
Unaudited Financial Statements

31 March 2024

 

One Day Films Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 5

 

One Day Films Limited

Balance Sheet
31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,881

2,068

Current assets

 

Stocks

5

53,197

3,402

Debtors

6

594

482

Cash at bank and in hand

 

2,030

1,249

 

55,821

5,133

Creditors: Amounts falling due within one year

7

(181,891)

(128,330)

Net current liabilities

 

(126,070)

(123,197)

Net liabilities

 

(124,189)

(121,129)

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

(124,289)

(121,229)

Shareholders' deficit

 

(124,189)

(121,129)

For the financial year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 5 August 2024 and signed on its behalf by:

.........................................

Professor E K O Knudsen

Director

Company Registration Number: 3274598

 

One Day Films Limited

Notes to the Unaudited Financial Statements
Year Ended 31 March 2024

1

General information

The Company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Tower House
269 Walmersley Road
Bury
Lancashire
BL9 6NX
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

These financial statements have been produced on a going concern basis as the company has the continued support of its directors.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

 

One Day Films Limited

Notes to the Unaudited Financial Statements
Year Ended 31 March 2024

Government grants

Government grants in respect of capital expenditure are credited to a deferred income account and are released to profit over the expected useful lives of the relevant assets by equal annual instalments. Grants of a revenue nature are credited to income so as to match them with the expenditure to which they relate.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures, tools and equipment

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

One Day Films Limited

Notes to the Unaudited Financial Statements
Year Ended 31 March 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 3 (2023 - 3).

4

Tangible assets

Fixtures and fittings
£

Total
£

Cost or valuation

At 1 April 2023

8,795

8,795

Additions

353

353

At 31 March 2024

9,148

9,148

Depreciation

At 1 April 2023

6,727

6,727

Charge for the year

540

540

At 31 March 2024

7,267

7,267

Carrying amount

At 31 March 2024

1,881

1,881

At 31 March 2023

2,068

2,068

 

One Day Films Limited

Notes to the Unaudited Financial Statements
Year Ended 31 March 2024

5

Stocks

2024
£

2023
£

Other inventories

53,197

3,402

6

Debtors

Current

2024
£

2023
£

Prepayments

594

482

 

594

482

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Other creditors

181,891

128,330

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100