Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312023-04-01falseFilm, radio, television and video production22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 6551947 2023-04-01 2024-03-31 6551947 2022-04-01 2023-03-31 6551947 2024-03-31 6551947 2023-03-31 6551947 c:Director1 2023-04-01 2024-03-31 6551947 c:Director2 2023-04-01 2024-03-31 6551947 d:PlantMachinery 2023-04-01 2024-03-31 6551947 d:PlantMachinery 2024-03-31 6551947 d:PlantMachinery 2023-03-31 6551947 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 6551947 d:OfficeEquipment 2023-04-01 2024-03-31 6551947 d:OfficeEquipment 2024-03-31 6551947 d:OfficeEquipment 2023-03-31 6551947 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 6551947 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 6551947 d:Goodwill 2023-04-01 2024-03-31 6551947 d:Goodwill 2024-03-31 6551947 d:Goodwill 2023-03-31 6551947 d:CurrentFinancialInstruments 2024-03-31 6551947 d:CurrentFinancialInstruments 2023-03-31 6551947 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 6551947 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 6551947 d:ShareCapital 2024-03-31 6551947 d:ShareCapital 2023-03-31 6551947 d:RetainedEarningsAccumulatedLosses 2024-03-31 6551947 d:RetainedEarningsAccumulatedLosses 2023-03-31 6551947 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2024-03-31 6551947 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-03-31 6551947 c:FRS102 2023-04-01 2024-03-31 6551947 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 6551947 c:AbridgedAccounts 2023-04-01 2024-03-31 6551947 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 6551947 2 2023-04-01 2024-03-31 6551947 d:Goodwill d:OwnedIntangibleAssets 2023-04-01 2024-03-31 6551947 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 6551947









SHOOT AND EDIT LTD








FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024


 
SHOOT AND EDIT LTD
REGISTERED NUMBER:6551947

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
3,000
3,750

Tangible assets
 5 
23,145
19,186

  
26,145
22,936

Current assets
  

Work in progress
 6 
12,326
-

Debtors
 7 
23,155
75,145

Cash at bank and in hand
 8 
206,987
137,757

  
242,468
212,902

Creditors: amounts falling due within one year
 9 
(56,276)
(50,165)

Net current assets
  
 
 
186,192
 
 
162,737

Total assets less current liabilities
  
212,337
185,673

Net assets
  
212,337
185,673


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
212,237
185,573

Shareholders' funds
  
212,337
185,673


Page 1


 
SHOOT AND EDIT LTD
REGISTERED NUMBER:6551947
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 21 November 2024.




Mr E S Saunders
Mrs MC Saunders
Director
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2


 
SHOOT AND EDIT LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

The Company is incorporated in England and Wales and is limited by shares.  The registered office is located at Yew Tree House, Lewes Road, Forest Row, East Sussex, RH18 5AA.
The Company's principal activity continues to be that of film, radio, television and video production. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates and value added tax. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3


 
SHOOT AND EDIT LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.6

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of income and retained earnings over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4


 
SHOOT AND EDIT LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.7
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant & machinery
-
25%
reducing balance
Office equipment
-
25%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

  
2.8

Work in progress

Work in progress and finished goods include labour and attributable overheads.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5


 
SHOOT AND EDIT LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.12

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 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.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Page 6


 
SHOOT AND EDIT LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.12
Financial instruments (continued)

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

 
2.13

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 -2).


4.


Intangible assets




Goodwill

£



Cost


At 1 April 2023
15,000



At 31 March 2024

15,000



Amortisation


At 1 April 2023
11,250


Charge for the year on owned assets
750



At 31 March 2024

12,000



Net book value



At 31 March 2024
3,000



At 31 March 2023
3,750



Page 7


 
SHOOT AND EDIT LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Tangible fixed assets





Plant & machinery
Office equipment
Total

£
£
£



Cost or valuation


At 1 April 2023
1,067
97,742
98,809


Additions
-
11,675
11,675



At 31 March 2024

1,067
109,417
110,484



Depreciation


At 1 April 2023
1,053
78,570
79,623


Charge for the year on owned assets
4
7,712
7,716



At 31 March 2024

1,057
86,282
87,339



Net book value



At 31 March 2024
10
23,135
23,145



At 31 March 2023
14
19,172
19,186


6.


Work in progress

2024
2023
£
£

Work in progress
12,326
-

12,326
-



7.


Debtors

2024
2023
£
£


Trade debtors
23,155
16,802

Other debtors
-
58,343

23,155
75,145


Page 8


 
SHOOT AND EDIT LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
206,987
137,757

206,987
137,757



9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Corporation tax
44,416
39,773

Other taxation and social security
8,484
7,515

Other creditors
613
239

Accruals and deferred income
2,763
2,638

56,276
50,165



10.


Financial instruments

2024
2023
£
£

Financial assets


Financial assets measured at fair value through profit or loss
206,987
137,757




Financial assets measured at fair value through profit or loss comprise cash at bank and in hand.


11.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £18,000 (2023 - £18,000).


12.


Transactions with directors

Included in other creditors due within one year is a loan from the directors, Mr E S Saunders and Mrs MC Saunders amounting to £(326) [2023 - £(NIL)]. 
Included in other debtors due within one year is a loan to the directors, Mr E S Saunders and Mrs MC Saunders amounting to £NIL (2023 - £58,343).  Interest has been charged at the H.M. Revenue and Customs official rate and the loan was repaid within 9 months of the year end.

Page 9


 
SHOOT AND EDIT LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

13.


Related party transactions

During the year £300 (2023 - £NIL) was paid to the director's sister for camera assistant work, which is included in cost of sales.


14.


Controlling party

The Company was controlled throughout the current and previous period by its directors, Mr E S Saunders and Mrs MC Saunders by virtue of the fact that they own all of the Company's ordinary issued share capital.

 
Page 10