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OSWALD FILMS LTD

Registered Number
11653061
(England and Wales)

Unaudited Financial Statements for the Year ended
31 October 2024

OSWALD FILMS LTD
Company Information
for the year from 1 November 2023 to 31 October 2024

Director

Mr C Griffiths

Registered Address

Portland House Oak Green
Cheadle Hulme
Cheadle
SK8 6QL

Registered Number

11653061 (England and Wales)
OSWALD FILMS LTD
Balance Sheet as at
31 October 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets319,54324,413
19,54324,413
Current assets
Debtors5,3924,757
Cash at bank and on hand4,8739,388
10,26514,145
Creditors amounts falling due within one year4(11,931)(14,547)
Net current assets (liabilities)(1,666)(402)
Total assets less current liabilities17,87724,011
Creditors amounts falling due after one year5(8,889)(10,139)
Provisions for liabilities6(2,199)(3,248)
Net assets6,78910,624
Capital and reserves
Called up share capital11
Profit and loss account6,78810,623
Shareholders' funds6,78910,624
The financial statements were approved and authorised for issue by the Director on 3 February 2025, and are signed on its behalf by:
Mr C Griffiths
Director
Registered Company No. 11653061
OSWALD FILMS LTD
Notes to the Financial Statements
for the year ended 31 October 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.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 sale of goods and from the rendering of services.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
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
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Plant and machinery25
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
Trade and other creditors
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.
Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
2.Average number of employees

20242023
Average number of employees during the year01
3.Tangible fixed assets

Land & buildings

Plant & machinery

Office Equipment

Total

££££
Cost or valuation
At 01 November 233,899-35,73439,633
Additions--327327
At 31 October 243,899-36,06139,960
Depreciation and impairment
At 01 November 23--15,22015,220
Charge for year-5,197-5,197
At 31 October 24-5,19715,22020,417
Net book value
At 31 October 243,899(5,197)20,84119,543
At 31 October 233,899-20,51424,413
4.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables893938
Bank borrowings and overdrafts3,0074,040
Taxation and social security7,7417,512
Other creditors2811,248
Accrued liabilities and deferred income9809
Total11,93114,547
5.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts8,88910,139
Total8,88910,139
6.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)2,1993,248
Total2,1993,248