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Registered number: 08874124
39 Pictures Ltd
Unaudited Financial Statements
For The Year Ended 29 February 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 08874124
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 11,862 15,655
11,862 15,655
CURRENT ASSETS
Debtors 6 26,108 38,366
Cash at bank and in hand 9,590 15,950
35,698 54,316
Creditors: Amounts Falling Due Within One Year 7 (24,921 ) (16,070 )
NET CURRENT ASSETS (LIABILITIES) 10,777 38,246
TOTAL ASSETS LESS CURRENT LIABILITIES 22,639 53,901
PROVISIONS FOR LIABILITIES
Deferred Taxation (1,825 ) (1,787 )
NET ASSETS 20,814 52,114
CAPITAL AND RESERVES
Called up share capital 100 100
Profit and Loss Account 20,714 52,014
SHAREHOLDERS' FUNDS 20,814 52,114
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For the year ending 29 February 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 directors acknowledge their 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 Profit and Loss Account.
On behalf of the board
Mrs Sarah Chapman
Director
10 October 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
39 Pictures Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08874124 . The registered office is 7 Christie Way, Christie Fields, Manchester, M21 7QY.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the entity
2.2. Turnover
When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period.

When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.
2.4. 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 33% straight line
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.6. 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.
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2.7. Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Intangible Assets
Goodwill
£
Cost
As at 1 March 2023 7,520
As at 29 February 2024 7,520
Amortisation
As at 1 March 2023 7,520
As at 29 February 2024 7,520
Net Book Value
As at 29 February 2024 -
As at 1 March 2023 -
5. Tangible Assets
Fixtures & Fittings
£
Cost
As at 1 March 2023 44,671
Additions 5,455
Disposals (22,028 )
As at 29 February 2024 28,098
Depreciation
As at 1 March 2023 29,016
Provided during the period 9,169
Disposals (21,949 )
As at 29 February 2024 16,236
Net Book Value
As at 29 February 2024 11,862
As at 1 March 2023 15,655
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6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 11,641 3,574
Other debtors 14,467 34,792
26,108 38,366
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 4,913 51
Other creditors 3,970 4,270
Taxation and social security 16,038 11,749
24,921 16,070
8. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 6,668 6,668
Later than one year and not later than five years 2,778 9,446
9,446 16,114
9. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 March 2023 Amounts advanced Amounts repaid Amounts written off As at 29 February 2024
£ £ £ £ £
Mrs Sarah Chapman 15,397 32,425 (45,149 ) - 2,673
Mr Stephen Chapman 15,397 32,425 (45,149 ) - 2,673
The above loan is unsecured, interest free and repayable on demand.
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