Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312023-04-01falseMotion picture production55truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 12503486 2023-04-01 2024-03-31 12503486 2022-04-01 2023-03-31 12503486 2024-03-31 12503486 2023-03-31 12503486 2022-04-01 12503486 c:Director2 2023-04-01 2024-03-31 12503486 d:PlantMachinery 2023-04-01 2024-03-31 12503486 d:PlantMachinery 2024-03-31 12503486 d:PlantMachinery 2023-03-31 12503486 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 12503486 d:OfficeEquipment 2023-04-01 2024-03-31 12503486 d:OfficeEquipment 2024-03-31 12503486 d:OfficeEquipment 2023-03-31 12503486 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 12503486 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 12503486 d:CurrentFinancialInstruments 2024-03-31 12503486 d:CurrentFinancialInstruments 2023-03-31 12503486 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 12503486 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 12503486 d:ShareCapital 2024-03-31 12503486 d:ShareCapital 2023-03-31 12503486 d:RetainedEarningsAccumulatedLosses 2024-03-31 12503486 d:RetainedEarningsAccumulatedLosses 2023-03-31 12503486 d:AcceleratedTaxDepreciationDeferredTax 2024-03-31 12503486 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 12503486 c:FRS102 2023-04-01 2024-03-31 12503486 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 12503486 c:FullAccounts 2023-04-01 2024-03-31 12503486 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 12503486 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 12503486










FLYING PICTURES FILM SERVICES LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

 
FLYING PICTURES FILM SERVICES LIMITED
REGISTERED NUMBER: 12503486

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
-
26,439

Current assets
  

Debtors: amounts falling due within one year
 5 
4,000
6,016

Cash at bank and in hand
  
-
649,506

  
4,000
655,522

Creditors: amounts falling due within one year
 6 
(3,999)
(605,195)

Net current assets
  
 
 
1
 
 
50,327

Total assets less current liabilities
  
1
76,766

Provisions for liabilities
  

Deferred tax
 7 
-
(6,610)

Net assets
  
1
70,156


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
-
70,155

  
1
70,156


Page 1

 
FLYING PICTURES FILM SERVICES LIMITED
REGISTERED NUMBER: 12503486
    
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 9 October 2024.




P J Beckett
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
FLYING PICTURES FILM SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Flying Pictures Film Services Limited is a private Company limited by shares, incorporated in England and Wales (registered number: 12503486). Its registered office is Unit B4 West 12 Studios, 2a Askew Crescent, London, W12 9DP. The Company ceased trading on 31 March 2024. Prior to that, the principal activity of the Company was that of motion picture 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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The Company's functional and presentational currency is GBP.

The following principal accounting policies have been applied:

 
2.2

Current and deferred taxation

Tax is recognised in the Statement of Income and Retained Earnings.

The current 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.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Page 3

 
FLYING PICTURES FILM SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.3

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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows.

The depreciation rates used are:

Plant and machinery
-
33%
reducing balance
Office equipment
-
33%
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 the Statement of Income and Retained Earnings.

 
2.4

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as bank and cash balances, trade and other accounts receivable and payable, loans from banks and other third parties, and loans to and from related parties.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at the transaction price and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an 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.


3.


Employees

The average monthly number of employees, including directors, during the year was 5 (2023 - 5).

Page 4

 
FLYING PICTURES FILM SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Tangible fixed assets





Plant and machinery
Office equipment
Total

£
£
£





At 1 April 2023
48,135
333
48,468


Transfers intra group
(31,427)
(333)
(31,760)


Disposals
(16,708)
-
(16,708)



At 31 March 2024

-
-
-





At 1 April 2023
21,857
172
22,029


Charge for the year on owned assets
5,608
50
5,658


Transfers intra group
(19,189)
(222)
(19,411)


Disposals
(8,276)
-
(8,276)



At 31 March 2024

-
-
-



Net book value



At 31 March 2024
-
-
-



At 31 March 2023
26,278
161
26,439


5.


Debtors

2024
2023
£
£


Amounts owed by group undertakings
3,985
-

Other debtors
15
6,016

4,000
6,016


Page 5

 
FLYING PICTURES FILM SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
-
79

Amounts owed to group undertakings
-
601,116

Other taxation and social security
3,999
4,000

3,999
605,195



7.


Deferred taxation




2024
2023


£

£






At beginning of year
6,610
9,915


Charged to profit or loss
(6,610)
(3,305)



At end of year
-
6,610

The deferred taxation balance is made up as follows:

2024
2023
£
£


Accelerated capital allowances
-
6,610


8.


Controlling party

The ultimate holding Company of Flying Pictures Film Services Limited is Paramex Ventures Limited whose registered office is Unit B4 West 12 Studios, 2a Askew Crescent, London, W12 9DP.

 
Page 6