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Registered number: 08766310
Fred Film Production Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—5
Page 1
Statement of Financial Position
Registered number: 08766310
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 4,042 4,112
4,042 4,112
CURRENT ASSETS
Debtors 5 169,980 166,259
Investments 6 302 302
Cash at bank and in hand 30,187 85,389
200,469 251,950
Creditors: Amounts Falling Due Within One Year 7 (146,834 ) (89,364 )
NET CURRENT ASSETS (LIABILITIES) 53,635 162,586
TOTAL ASSETS LESS CURRENT LIABILITIES 57,677 166,698
Creditors: Amounts Falling Due After More Than One Year 8 (14,167 ) (24,167 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (730 ) (743 )
NET ASSETS 42,780 141,788
CAPITAL AND RESERVES
Called up share capital 9 102 102
Income Statement 42,678 141,686
SHAREHOLDERS' FUNDS 42,780 141,788
Page 1
Page 2
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Mr A J Spring
Director
19/09/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Fred Film Production Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08766310 . The registered office is Oak Lodge Great Bedwyn, Marlborough, Wiltshire, SN8 3LY.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 15% reducing balance
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2022: 4)
3 4
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4. Tangible Assets
Fixtures & Fittings
£
Cost
As at 1 January 2023 7,424
Additions 655
As at 31 December 2023 8,079
Depreciation
As at 1 January 2023 3,312
Provided during the period 725
As at 31 December 2023 4,037
Net Book Value
As at 31 December 2023 4,042
As at 1 January 2023 4,112
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 142,600 120,800
Other debtors 27,380 45,459
169,980 166,259
6. Current Asset Investments
2023 2022
£ £
Shares in subsidiaries 302 302
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 909 -
Bank loans and overdrafts 10,002 10,000
Amounts owed to group undertakings 301 301
Other creditors 103,433 45,925
Taxation and social security 32,189 33,138
146,834 89,364
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 14,167 24,167
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9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 102 102
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