Company registration number 14852472 (England and Wales)
FORUM FILMS LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
FORUM FILMS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
FORUM FILMS LIMITED
BALANCE SHEET
AS AT 30 JUNE 2024
30 June 2024
- 1 -
2024
Notes
£
£
Fixed assets
Intangible assets
3
748,524
Current assets
Debtors
4
1,690
Cash at bank and in hand
1,695
3,385
Creditors: amounts falling due within one year
5
(53,610)
Net current liabilities
(50,225)
Net assets
698,299
Capital and reserves
Called up share capital
6
720,200
Profit and loss reserves
(21,901)
Total equity
698,299
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial period ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 22 October 2024 and are signed on its behalf by:
C J R Smith
Director
Company registration number 14852472 (England and Wales)
FORUM FILMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024
- 2 -
1
Accounting policies
Company information
Forum Films Limited is a private company limited by shares incorporated in England and Wales. The registered office is 22 Wycombe End, Beaconsfield, Buckinghamshire, HP9 1NB.
1.1
Reporting period
The entity's reporting period is greater than one year as these are the first financial statements prepared since the entity incorporated on 8 May 2023.
1.2
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.3
Intangible fixed assets other than goodwill
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Film production costs are capitalised as intangible fixed assets where the company holds the rights to the film, the costs of production can be reliably measured and there is an intention for future cash flows to be generated.
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives. The useful economic lives is based upon the expected revenues receivable from the distribution of television programme rights. Where no economic inflows yet arise from the intangible fixed assets, no amortisation has been provided.
1.4
Financial instruments
The company has elected to apply the provisions of Section 11 ”Basic Financial Instruments” to all of its financial instruments.
Financial instruments are recognised in the company’s balance sheet when the company becomes party to the contractual provisions of the instrument.
Basic financial assets
Short term debtors are measured at transaction price less any provision for impairment. Loans receivable are measured initially at fair value, net of transaction costs and are subsequently carried at amortised costs using the effective interest method, less any provision for impairment.
Basic financial liabilities
Short term creditors are measured at transaction price. Other financial liabilities, including bank loans and other loans, are measured initially at fair value, net of transaction costs and are subsequently carried at amortised costs using the effective interest method.
FORUM FILMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JUNE 2024
- 3 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was:
2024
Number
Total
2
3
Intangible fixed assets
Other
£
Cost
At 8 May 2023
Additions
748,524
At 30 June 2024
748,524
Amortisation and impairment
At 8 May 2023 and 30 June 2024
Carrying amount
At 30 June 2024
748,524
4
Debtors
2024
Amounts falling due within one year:
£
Other debtors
1,690
5
Creditors: amounts falling due within one year
2024
£
Trade creditors
49,610
Other creditors
4,000
53,610
6
Called up share capital
2024
2024
Ordinary share capital
Number
£
Issued and not fully paid
Ordinary shares of £1 each
720,200
720,200