1 February 2023 false No description of principal activity Taxfiler 2024.5 05505925business:PrivateLimitedCompanyLtd2023-02-012024-01-31 055059252023-01-31 055059252023-02-012024-01-31 05505925business:AuditExemptWithAccountantsReport2023-02-012024-01-31 05505925business:AbridgedAccounts2023-02-012024-01-31 055059252024-01-31 05505925business:Director12023-02-012024-01-31 05505925business:RegisteredOffice2023-02-012024-01-31 055059252023-01-31 05505925core:WithinOneYear2024-01-31 05505925core:WithinOneYear2023-01-31 05505925core:ShareCapitalcore:PreviouslyStatedAmount2024-01-31 05505925core:ShareCapitalcore:PreviouslyStatedAmount2023-01-31 05505925core:CapitalRedemptionReservecore:PreviouslyStatedAmount2024-01-31 05505925core:CapitalRedemptionReservecore:PreviouslyStatedAmount2023-01-31 05505925core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-01-31 05505925core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-01-31 05505925core:PreviouslyStatedAmount2024-01-31 05505925core:PreviouslyStatedAmount2023-01-31 05505925business:SmallEntities2023-02-012024-01-31 05505925countries:EnglandWales2023-02-012024-01-31 05505925core:ComputerEquipment2023-02-012024-01-31 05505925business:OrdinaryShareClass12023-02-012024-01-31 05505925business:OrdinaryShareClass12022-02-012023-01-31 055059252022-02-012023-01-31 iso4217:GBP xbrli:shares xbrli:pure
Company Registration No. 05505925 (England and Wales)
See Film First Limited Unaudited Filleted Abridged Financial Statements for the year ended 31 January 2024
See Film First Limited Unaudited Filleted Abridged Financial Statements Contents
Page
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See Film First Limited Company Information for the year ended 31 January 2024
Director
Mr Jeremy Mascarenhas
Company Number
05505925 (England and Wales)
Registered Office
37/38 Margaret Street London W1G 0JF
Accountants
Caseron Cloud Accounting Ltd 7 Swallow Drive Stowmarket Suffolk IP14 5BY
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See Film First Limited Statement of financial position as at 31 January 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
1 
1 
Investments
1,648,939 
1,223,939 
1,648,940 
1,223,940 
Current assets
Debtors
227,550 
759,489 
Cash at bank and in hand
5,849,745 
4,964,148 
6,077,295 
5,723,637 
Creditors: amounts falling due within one year
(683,102)
(1,272,240)
Net current assets
5,394,193 
4,451,397 
Net assets
7,043,133 
5,675,337 
Capital and reserves
Called up share capital
400 
400 
Capital redemption reserve
600 
600 
Profit and loss account
7,042,133 
5,674,337 
Shareholders' funds
7,043,133 
5,675,337 
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have 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.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 31 October 2024 and were signed on its behalf by
Mr Jeremy Mascarenhas Director Company Registration No. 05505925
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See Film First Limited Notes to the Accounts for the year ended 31 January 2024
1
Statutory information
See Film First Limited is a private company, limited by shares, registered in England and Wales, registration number 05505925. The registered office is 37/38 Margaret Street, London, W1G 0JF.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
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.
Interest income
Interest income is recognised using the effective interest method.
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.
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See Film First Limited Notes to the Accounts for the year ended 31 January 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.
Interest Paid and Finance Costs
Finance costs are charged to the profit and loss account over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
Provisions
Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.
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.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
33% straight line
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See Film First Limited Notes to the Accounts for the year ended 31 January 2024
4
Tangible fixed assets
Total 
£ 
Cost or valuation
At 1 February 2023
1,083 
At 31 January 2024
1,083 
Depreciation
At 1 February 2023
1,082 
At 31 January 2024
1,082 
Net book value
At 31 January 2024
1 
At 31 January 2023
1 
5
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
400 Ordinary shares of £1 each
400 
400 
6
Average number of employees
During the year the average number of employees was 1 (2023: 1).
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