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REGISTERED NUMBER: 09985149 (England and Wales)


















Overdrive Pictures Ltd

Unaudited Financial Statements

for the Year Ended 29 February 2024






Overdrive Pictures Ltd (Registered number: 09985149)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Overdrive Pictures Ltd

Company Information
for the Year Ended 29 February 2024







DIRECTOR: Mr A G Do





REGISTERED OFFICE: 606, Delta Office Park
Welton Road
Swindon
Wiltshire
SN5 7XF





REGISTERED NUMBER: 09985149 (England and Wales)





ACCOUNTANTS: AMS Accountancy Limited
Delta 606
Welton Road
Delta Office Park
Swindon
Wiltshire
SN5 7XF

Overdrive Pictures Ltd (Registered number: 09985149)

Balance Sheet
29 February 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 587 1,046

CURRENT ASSETS
Debtors 5 51 1
Cash at bank 2,270 5,155
2,321 5,156
CREDITORS
Amounts falling due within one year 6 (1,522 ) (2,657 )
NET CURRENT ASSETS 799 2,499
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,386

3,545

CAPITAL AND RESERVES
Called up share capital 7 1 1
Retained earnings 1,385 3,544
SHAREHOLDERS' FUNDS 1,386 3,545

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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.

Overdrive Pictures Ltd (Registered number: 09985149)

Balance Sheet - continued
29 February 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 16 September 2024 and were signed by:





Mr A G Do - Director


Overdrive Pictures Ltd (Registered number: 09985149)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Overdrive Pictures Ltd 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 - 20% on cost
Fixtures and fittings - 25% on cost
Computer equipment - 33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

3. EMPLOYEES AND DIRECTORS

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

Overdrive Pictures Ltd (Registered number: 09985149)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 March 2023 215 870 2,861 3,946
Additions - - 620 620
At 29 February 2024 215 870 3,481 4,566
DEPRECIATION
At 1 March 2023 117 523 2,260 2,900
Charge for year 43 239 797 1,079
At 29 February 2024 160 762 3,057 3,979
NET BOOK VALUE
At 29 February 2024 55 108 424 587
At 28 February 2023 98 347 601 1,046

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 50 -
Other debtors 1 1
51 1

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 158 -
Taxation and social security 1,088 1,965
Other creditors 276 692
1,522 2,657

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1 Ordinary £1 1 1

Overdrive Pictures Ltd (Registered number: 09985149)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 29 February 2024 and 28 February 2023:

2024 2023
£    £   
Mr A G Do
Balance outstanding at start of year - 833
Amounts repaid - (833 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -