3 false false false false false false false false false false true false false false false false false No description of principal activity 2023-04-30 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 04023405 2023-04-30 2024-04-29 04023405 2024-04-29 04023405 2023-04-29 04023405 2022-04-30 2023-04-29 04023405 2023-04-29 04023405 2022-04-29 04023405 core:FurnitureFittings 2023-04-30 2024-04-29 04023405 core:MotorVehicles 2023-04-30 2024-04-29 04023405 bus:Director1 2023-04-30 2024-04-29 04023405 core:WithinOneYear 2024-04-29 04023405 core:WithinOneYear 2023-04-29 04023405 core:FurnitureFittings 2023-04-29 04023405 core:MotorVehicles 2023-04-29 04023405 core:FurnitureFittings 2024-04-29 04023405 core:MotorVehicles 2024-04-29 04023405 core:ShareCapital 2024-04-29 04023405 core:ShareCapital 2023-04-29 04023405 core:RetainedEarningsAccumulatedLosses 2024-04-29 04023405 core:RetainedEarningsAccumulatedLosses 2023-04-29 04023405 core:FurnitureFittings 2023-04-29 04023405 core:MotorVehicles 2023-04-29 04023405 bus:SmallEntities 2023-04-30 2024-04-29 04023405 bus:AuditExemptWithAccountantsReport 2023-04-30 2024-04-29 04023405 bus:SmallCompaniesRegimeForAccounts 2023-04-30 2024-04-29 04023405 bus:PrivateLimitedCompanyLtd 2023-04-30 2024-04-29 04023405 bus:FullAccounts 2023-04-30 2024-04-29
COMPANY REGISTRATION NUMBER: 04023405
CELTIC FILMS ENTERTAINMENT LIMITED
Filleted Unaudited Financial Statements
29 April 2024
CELTIC FILMS ENTERTAINMENT LIMITED
Statement of Financial Position
29 April 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
765
1,019
Current assets
Debtors
6
1,264
1,200
Cash at bank and in hand
18,815
17,104
--------
--------
20,079
18,304
Creditors: amounts falling due within one year
7
101,265
99,683
---------
--------
Net current liabilities
81,186
81,379
--------
--------
Total assets less current liabilities
( 80,421)
( 80,360)
Provisions
Taxation including deferred tax
20
20
--------
--------
Net liabilities
( 80,441)
( 80,380)
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 80,541)
( 80,480)
--------
--------
Shareholders deficit
( 80,441)
( 80,380)
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 29 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
CELTIC FILMS ENTERTAINMENT LIMITED
Statement of Financial Position (continued)
29 April 2024
These financial statements were approved by the board of directors and authorised for issue on 21 January 2025 , and are signed on behalf of the board by:
S.J. Sutherland
Director
Company registration number: 04023405
CELTIC FILMS ENTERTAINMENT LIMITED
Notes to the Financial Statements
Year ended 29 April 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 9 Orme Court, London, W2 4RL.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax, in respect of principal activity.
Income tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax. Deferred tax is measured on a discounted/an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures & Fittings
-
25% reducing balance
Motor Vehicles
-
25% reducing balance
Equipment
-
25 % reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2023: 3 ).
5. Tangible assets
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 30 April 2023 and 29 April 2024
26,719
19,455
6,718
52,892
--------
--------
-------
--------
Depreciation
At 30 April 2023
25,931
19,260
6,682
51,873
Charge for the year
197
48
9
254
--------
--------
-------
--------
At 29 April 2024
26,128
19,308
6,691
52,127
--------
--------
-------
--------
Carrying amount
At 29 April 2024
591
147
27
765
--------
--------
-------
--------
At 29 April 2023
788
195
36
1,019
--------
--------
-------
--------
6. Debtors
2024
2023
£
£
Amounts owed by associated undertakings - Celtic Entertainment Ltd
1,264
1,200
-------
-------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
37
37
Accruals and deferred income
45,386
45,600
Social security and other taxes
2,308
3,243
Director loan accounts
3,229
Amounts owed to associated undertakings
37,805
38,303
Other creditors
12,500
12,500
---------
--------
101,265
99,683
---------
--------
8. Related party transactions
During the year, the company received distribution income of £42,327 (2023: £43,983) from Sharpe Film Limited, which is under the control of Mr Stuart Sutherland, who is also a Director. Distribution fees of £NIL (2023: £189) were paid to Mr Stuart Sutherland, a director and shareholder of the company. Management fees of £25,334 (2023: £35,824) were paid to Mrs Mercedes Sutherland, a director of the company.