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REGISTERED NUMBER: 07763154 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Objectiv Pictures Limited

Objectiv Pictures Limited (Registered number: 07763154)






Contents of the Financial Statements
for the year ended 31 March 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Objectiv Pictures Limited

Company Information
for the year ended 31 March 2024







DIRECTOR: E Preston





REGISTERED OFFICE: 18a Bridge Street
Morpeth
Northumberland
NE61 1NB





REGISTERED NUMBER: 07763154 (England and Wales)

Objectiv Pictures Limited (Registered number: 07763154)

Statement of Financial Position
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 3,228 4,826

CURRENT ASSETS
Debtors 6 22,170 30,095

CREDITORS
Amounts falling due within one year 7 21,167 27,367
NET CURRENT ASSETS 1,003 2,728
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,231

7,554

CREDITORS
Amounts falling due after more than one year 8 (5,354 ) (5,000 )

PROVISIONS FOR LIABILITIES 10 (613 ) (917 )
NET (LIABILITIES)/ASSETS (1,736 ) 1,637

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (1,836 ) 1,537
SHAREHOLDERS' FUNDS (1,736 ) 1,637

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

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

Objectiv Pictures Limited (Registered number: 07763154)

Statement of Financial Position - continued
31 March 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 Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 7 October 2024 and were signed by:





E Preston - Director


Objectiv Pictures Limited (Registered number: 07763154)

Notes to the Financial Statements
for the year ended 31 March 2024

1. STATUTORY INFORMATION

Objectiv Pictures Limited ('The Company') is primarily engaged in motion picture production activities.

The company is a private company limited by shares and is incorporated in England and Wales. The address of the principle place of business and the registered office is 18a Bridge Street, Morpeth, Northumberland, NE61 1NB. The registered number can be found on the Company Information page.

The functional and presentational currency of the financial statements is the Pound Sterling (£).

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Summary of significant accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below.

These policies have been consistently applied to all years presented, unless otherwise stated.

Basis of preparing the financial statements
The financial statements are prepared on the going concern basis under the historical cost convention and comply with United Kingdom Accounting Standards and Companies Act 2006.

Going concern
The company meets it's day to day working capital requirements through a bank overdraft which is repayable on demand. The director considers that the facility will continue to be made available within which the company will be able to operate. These views are based on the company's plans, financial projections and discussions with the company's bankers.

On this basis the director considers it appropriate to prepare the financial statements on the going concern basis.

Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, net of discounts and of Value Added Tax.

Income is recognised after services have been fully provided to customers such that risks and rewards of ownership have transferred to them.

Objectiv Pictures Limited (Registered number: 07763154)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

3. ACCOUNTING POLICIES - continued

Tangible fixed assets
Tangible fixed assets are stated at historical cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided at the following annual rates so as to write off their cost less residual amounts over their estimated useful economic lives. Assets are also reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. An impairment loss is recognised for the amount by which the assets carrying amount exceeds its recoverable amount.

Plant and machinery- 25% on reducing balance
Fixtures and fittings- 25% on reducing balance
Computer equipment- 33% on cost

The residual values and useful lives of assets are reviewed and adjusted if appropriate at each statement of financial position date.

Financial instruments
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, bank loans and directors' loans.

Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method.

Directors' loans (being repayable on demand), trade debtors and trade creditors are measured at the discounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Objectiv Pictures Limited (Registered number: 07763154)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

3. ACCOUNTING POLICIES - continued

Impairment of assets
Assets not measured at fair value are reviewed for any indications that the asset maybe impaired at each statement of financial position date. If such indications exists the recoverable amount of the asset or the assets cash generating unit is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Any losses arising from impairment are recognised in the Statement of Comprehensive Income under the appropriate heading.

4. EMPLOYEES AND DIRECTORS

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

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 April 2023
and 31 March 2024 30,095 906 13,888 44,889
DEPRECIATION
At 1 April 2023 26,900 842 12,321 40,063
Charge for year 799 16 783 1,598
At 31 March 2024 27,699 858 13,104 41,661
NET BOOK VALUE
At 31 March 2024 2,396 48 784 3,228
At 31 March 2023 3,195 64 1,567 4,826



6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 450 2,600
Other debtors 21,720 27,495
22,170 30,095

Objectiv Pictures Limited (Registered number: 07763154)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 15,069 13,486
Trade creditors 2,717 2,150
Taxation and social security 1,952 10,302
Other creditors 1,429 1,429
21,167 27,367

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 5,354 5,000

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdrafts 12,069 10,486

The bank overdraft has been personally guaranteed by Mr E Preston.

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 613 917

Deferred
tax
£   
Balance at 1 April 2023 917
Credit to Statement of Comprehensive Income during year (304 )
Balance at 31 March 2024 613

Objectiv Pictures Limited (Registered number: 07763154)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
E Preston
Balance outstanding at start of year 27,495 27,670
Amounts repaid (6,263 ) (175 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 21,232 27,495