Caseware UK (AP4) 2023.0.135 2023.0.135 2024-07-312024-07-312023-08-01falseMotion picture production activities23falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10003702 2023-08-01 2024-07-31 10003702 2022-08-01 2023-07-31 10003702 2024-07-31 10003702 2023-07-31 10003702 c:Director1 2023-08-01 2024-07-31 10003702 c:Director2 2023-08-01 2024-07-31 10003702 c:Director3 2023-08-01 2024-07-31 10003702 c:Director3 2024-07-31 10003702 c:RegisteredOffice 2023-08-01 2024-07-31 10003702 d:CurrentFinancialInstruments 2024-07-31 10003702 d:CurrentFinancialInstruments 2023-07-31 10003702 d:CurrentFinancialInstruments d:WithinOneYear 2024-07-31 10003702 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 10003702 d:ShareCapital 2024-07-31 10003702 d:ShareCapital 2023-07-31 10003702 d:RetainedEarningsAccumulatedLosses 2024-07-31 10003702 d:RetainedEarningsAccumulatedLosses 2023-07-31 10003702 c:OrdinaryShareClass1 2023-08-01 2024-07-31 10003702 c:OrdinaryShareClass1 2024-07-31 10003702 c:OrdinaryShareClass1 2023-07-31 10003702 c:FRS102 2023-08-01 2024-07-31 10003702 c:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 10003702 c:FullAccounts 2023-08-01 2024-07-31 10003702 c:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 10003702 d:Subsidiary1 2023-08-01 2024-07-31 10003702 d:Subsidiary1 1 2023-08-01 2024-07-31 10003702 6 2023-08-01 2024-07-31 10003702 e:PoundSterling 2023-08-01 2024-07-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 10003702









FP FILMS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024

 
FP FILMS LIMITED
 
 
COMPANY INFORMATION


Directors
D D Beesley 
I K Morris 
M A Lesbirel (resigned 19 February 2024)




Registered number
10003702



Registered office
Somerset House C/O Fudge Park Productions
New Wing, Somerset House

Strand

WC2R 1LA




Accountants
Ecovis Wingrave Yeats UK Limited
Chartered Accountants

3rd Floor, Waverley House

7-12 Noel Street

London

W1F 8GQ





 
FP FILMS LIMITED
 

CONTENTS



Page
Balance Sheet
 
1 - 2
Notes to the Financial Statements
 
3 - 6


 
FP FILMS LIMITED
REGISTERED NUMBER: 10003702

BALANCE SHEET
AS AT 31 JULY 2024

2024
2023
Note
£
£

Fixed assets
  

Investments
 6 
2
2

  
2
2

Current assets
  

Debtors: amounts falling due within one year
 7 
426
834

Cash at bank and in hand
  
17,087
21,608

  
17,513
22,442

Creditors: amounts falling due within one year
 8 
(11,531)
(11,579)

Net current assets
  
 
 
5,982
 
 
10,863

Total assets less current liabilities
  
5,984
10,865

  

Net assets
  
5,984
10,865


Capital and reserves
  

Called up share capital 
 9 
2
2

Profit and loss account
  
5,982
10,863

  
5,984
10,865


Page 1

 
FP FILMS LIMITED
REGISTERED NUMBER: 10003702
    
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 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 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 8 January 2025.




................................................
D D Beesley
Director

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

Page 2

 
FP FILMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1.


General information

FP Films Limited is a private company, limited by shares, registered in England and Wales, registration number 10003702. The registered office is Somerset House C/O Fudge Park Productions, New Wing, Somerset House, Strand, United Kingdom, WC2R 1LA.

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 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.

The following principal accounting policies have been applied:

 
2.2

Exemption from preparing consolidated financial statements

The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.

 
2.3

Going concern

The directors are committed to ensuring that the Company can meet its liabilities as and when they fall due for a period of at least 12 months from the date of approval of these financial statements. As a result, the directors consider it appropriate that these financial statements are prepared on the going concern basis.

 
2.4

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:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
FP FILMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.5

Financial instruments

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

 
2.6

Taxation

Tax is recognised in profit or loss 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 balance sheet date in the countries where the Company operates and generates income.

Page 4

 
FP FILMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.7

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

Revenue recognition of production income

Production revenue and expenses are recognised by reference to the stage of completion of contract activity where the outcome of the contract can be estimated reliably, otherwise revenue is recognised only to the extent of recoverable contract costs incurred.


4.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 3).


5.


Taxation

The Company has tax losses of £6,109 (2023 - £1,228) to utilise against future taxable profits. 


6.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 August 2023
2



At 31 July 2024
2





Subsidiary undertaking


The following was a subsidiary undertaking of the Company:

Name

Class of shares

Holding

High Window Films Ltd
Ordinary
100%

Page 5

 
FP FILMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

7.


Debtors

2024
2023
£
£


Other debtors
424
832

Called up share capital not paid
2
2

426
834



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
48
96

Other creditors
7,183
7,183

Accruals and deferred income
4,300
4,300

11,531
11,579


Other creditors includes £7,181 (2023 - £7,181) owed to a related party by virtue of common control. This amount is unsecured, interest-free and repayable on demand.


9.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



2 (2023 - 2) Ordinary shares of £1.00 each
2
2



10.


Related party transactions

FP Films Limited has taken the exemption under FRS 102, section 33 Related Party Disclosures paragraph 33.1A, whereby the company is not required to disclose transactions with other wholly owned subsidiaries. 
During the prior year, the company entered into transactions in the ordinary course of the business with a company under common control, totalling £20,138. An amount of £7,181 
(2023 - £7,181) remains outstanding at the year end and is included within other creditors (note 8). The amount outstanding is unsecured, interest-free and repayable on demand.

 
Page 6