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Registration number: 01749602

Three SSS Films Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 April 2024

 

Three SSS Films Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Three SSS Films Limited

Company Information

Director

Mr M Adams

Company secretary

Mr M Adams

Registered office

15 Alverton Street
Penzance
Cornwall
TR18 2QP

Accountants

D.J. Reynolds & Co.
Chartered Accountants
15 Alverton Street
Penzance
Cornwall
TR18 2QP

 

Three SSS Films Limited

(Registration number: 01749602)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

13,152

15,473

Current assets

 

Stocks

5

3,626

21,004

Cash at bank and in hand

 

11

11

 

3,637

21,015

Creditors: Amounts falling due within one year

6

(20,785)

(9,364)

Net current (liabilities)/assets

 

(17,148)

11,651

Total assets less current liabilities

 

(3,996)

27,124

Creditors: Amounts falling due after more than one year

6

(61,563)

(62,508)

Net liabilities

 

(65,559)

(35,384)

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

(65,659)

(35,484)

Shareholders' deficit

 

(65,559)

(35,384)

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The member has not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

 

Three SSS Films Limited

(Registration number: 01749602)
Balance Sheet as at 30 April 2024

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 17 January 2025
 

.........................................
Mr M Adams
Company secretary and director

 

Three SSS Films Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
15 Alverton Street
Penzance
Cornwall
TR18 2QP

The principal place of business is:
12 Regent Square
Penzance
Cornwall
TR18 4BG

These financial statements were authorised for issue by the director on 17 January 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The company has suffered trading losses in the currentand previous years, leading to a deficit on the Balance Sheet. However, the financial statements have been prepared on a going concern basis, on the understading that the director will continue to financially support the company.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Three SSS Films Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

15% per annum, reducing balance basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

The cost of finished goods and work in progress comprises direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Borrowings

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments.

 

Three SSS Films Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Tangible assets

Other tangible assets
£

Total
£

Cost or valuation

At 1 May 2023

189,385

189,385

At 30 April 2024

189,385

189,385

Depreciation

At 1 May 2023

173,912

173,912

Charge for the year

2,321

2,321

At 30 April 2024

176,233

176,233

Carrying amount

At 30 April 2024

13,152

13,152

At 30 April 2023

15,473

15,473

5

Stocks

2024
£

2023
£

Consumables

3,626

21,004

 

Three SSS Films Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

5,106

5,946

Accruals and deferred income

 

1,893

2,476

Other creditors

 

13,786

942

 

20,785

9,364

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

61,563

62,508

7

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

         
 

Three SSS Films Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

8

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

1,563

2,508

Other borrowings

60,000

60,000

61,563

62,508

2024
£

2023
£

Current loans and borrowings

Bank borrowings

1,036

1,036

Bank overdrafts

4,070

4,910

5,106

5,946

9

Related party transactions

Transactions with the director

2024

At 1 May 2023
£

Payments to director
£

Funds introduced by director
£

At 30 April 2024
£

Mr M Adams

Interest free loan repayable on demand

60,868

(2,256)

15,086

73,698

         
       

 

2023

At 1 May 2022
£

Payments to director
£

Funds introduced by director
£

At 30 April 2023
£

Mr M Adams

Interest free loan repayable on demand

51,581

(9,554)

18,841

60,868