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Registered number: 02491774









FILM MEDICAL SERVICES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
FILM MEDICAL SERVICES LIMITED
REGISTERED NUMBER: 02491774

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
334,170
352,960

  
334,170
352,960

Current assets
  

Debtors: amounts falling due within one year
 5 
980,424
600,442

Cash at bank and in hand
 6 
1,271,861
1,583,018

  
2,252,285
2,183,460

Creditors: amounts falling due within one year
 7 
(462,850)
(447,441)

Net current assets
  
 
 
1,789,435
 
 
1,736,019

Total assets less current liabilities
  
2,123,605
2,088,979

Provisions for liabilities
  

Deferred tax
 8 
(80,851)
-

Net assets
  
2,042,754
2,088,979


Capital and reserves
  

Called up share capital 
 9 
200
200

Profit and loss account
  
2,042,554
2,088,779

  
2,042,754
2,088,979


Page 1

 
FILM MEDICAL SERVICES LIMITED
REGISTERED NUMBER: 02491774
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024

The director considers 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 director acknowledges his 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 comprehensive income 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 29 November 2024.




D I Burns
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

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

1.


General information

Film Medical Services Limited is a company limited by shares, incorporated in England and Wales. The address of the registered office is 3 Brook Business Centre, Cowley Mill Road, Uxbridge, UB8 2FX.
The company specialises in the hiring of theatrcial and film sets.

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 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, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to the Statement of comprehensive income on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Interest income

Interest income is recognised in the Statement of comprehensive income using the effective interest method.

Page 3

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

2.Accounting policies (continued)

 
2.5

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 the Statement of comprehensive income when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of comprehensive income 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 reporting 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 reporting 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.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
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

 
FILM MEDICAL SERVICES LIMITED
 
 
 
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:

Short-term leasehold property
-
10%
on reducing balance
Plant and machinery
-
10%
on reducing balance
Fixtures and fittings
-
15%
on reducing balance
Office equipment
-
15%
on 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 comprehensive income.

 
2.8

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.

 
2.9

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.

 
2.10

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.

 
2.11

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 10 (period ended 31 March 2023 - 15).

Page 5

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

4.


Tangible fixed assets





Land and Buildings
Plant and machinery
Fixtures and fittings
Computer equipment
Total

£
£
£
£
£



Cost


At 1 April 2023
66,675
822,339
205,512
27,774
1,122,300


Additions
-
22,606
-
45
22,651



At 31 March 2024

66,675
844,945
205,512
27,819
1,144,951



Depreciation


At 1 April 2023
55,801
557,807
140,991
14,741
769,340


Charge for the year
1,087
28,714
9,678
1,962
41,441



At 31 March 2024

56,888
586,521
150,669
16,703
810,781



Net book value



At 31 March 2024
9,787
258,424
54,843
11,116
334,170



At 31 March 2023
10,874
264,532
64,521
13,033
352,960

Page 6

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

5.


Debtors

2024
2023
£
£


Trade debtors
34,369
133,227

Other debtors
767,743
389,337

Prepayments and accrued income
178,312
77,878

980,424
600,442



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
1,271,861
1,583,018

1,271,861
1,583,018



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
104,605
51,491

Corporation tax
135,617
125,259

Other taxation and social security
38,219
75,357

Other creditors
140,045
180,394

Accruals and deferred income
44,364
14,940

462,850
447,441


Page 7

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

8.


Deferred taxation




2024


£






Charged to the Statement of comprehensive income
80,851



At end of year
80,851

The deferred taxation balance is made up as follows:

2024
2023
£
£


Accelerated capital allowances
81,095
-

Pension surplus
(244)
-

80,851
-


9.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



200 Ordinary shares of £1 each
200
200



10.


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 £5,709 (period ended 31 March 2023 - £168,064). Contributions totalling £977 (2023 - £2,795) were payable to the fund at the reporting date and are included in other creditors.


11.Transactions with directors

Included within other debtors is an amount of £544,095 (2023 - £249,194) due from the director of the company.


12.


Related party transactions

Included within debtors is an amount of £10,000 (2023 - £10,000) due from a company with common directors.

Page 8

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

13.


Controlling party

The ultimate controlling party is the director by virtue of his majority shareholding in the company.

 
Page 9