2023-04-012024-03-312024-03-31false06480306NEPTUNE FILMS 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NEPTUNE FILMS LTD

Registered Number
06480306
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

NEPTUNE FILMS LTD
Company Information
for the year from 1 April 2023 to 31 March 2024

Director

FOTHERGILL, John Francis

Company Secretary

FOTHERGILL, John Francis

Registered Address

34 Harefield Road
London
SE4 1LU

Registered Number

06480306 (England and Wales)
NEPTUNE FILMS LTD
Statement of Financial Position
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets31,1201,834
1,1201,834
Current assets
Debtors-7,211
Cash at bank and on hand15,50517,575
15,50524,786
Creditors amounts falling due within one year4(12,804)(12,946)
Net current assets (liabilities)2,70111,840
Total assets less current liabilities3,82113,674
Provisions for liabilities5(280)(400)
Net assets3,54113,274
Capital and reserves
Called up share capital1,0001,000
Profit and loss account2,54112,274
Shareholders' funds3,54113,274
The financial statements were approved and authorised for issue by the Director on 28 November 2024, and are signed on its behalf by:
FOTHERGILL, John Francis
Director
Registered Company No. 06480306
NEPTUNE FILMS LTD
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Basis of preparation
The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. 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.
Employee benefits
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 obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in accruals in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. 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 disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Office Equipment5
Financial instruments
The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
2.Average number of employees

20242023
Average number of employees during the year11
3.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
At 01 April 236,0686,068
At 31 March 246,0686,068
Depreciation and impairment
At 01 April 234,2344,234
Charge for year714714
At 31 March 244,9484,948
Net book value
At 31 March 241,1201,120
At 31 March 231,8341,834
4.Creditors: amounts due within one year

2024

2023

££
Taxation and social security11,15011,848
Other creditors499-
Accrued liabilities and deferred income1,1551,098
Total12,80412,946
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
5.Provisions for liabilities
Provisions are made where an event has taken place that gives the company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate of the settlement can be made. The provision for deferred tax is made up of £280 in respect of accelerated capital allowances.

2024

2023

££
Net deferred tax liability (asset)280400
Total280400
6.Directors advances, credits and guarantees
On 1 April 2023 a director owed the company £11. During the period this director was advanced a further £5,408 and repaid £5,918. As of 31 March 2023, the company owed the director £499. No interest was charged on this loan.