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REGISTERED NUMBER: 10283186 (England and Wales)















Unaudited Financial Statements for the Year Ended 31st July 2024

for

OUTBACK FILMS LTD

OUTBACK FILMS LTD (REGISTERED NUMBER: 10283186)






Contents of the Financial Statements
for the Year Ended 31st July 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


OUTBACK FILMS LTD

Company Information
for the Year Ended 31st July 2024







DIRECTOR: Mr R Pimlott





REGISTERED OFFICE: 41 St Thomas's Road
Chorley
Lancashire
PR7 1JE





REGISTERED NUMBER: 10283186 (England and Wales)





ACCOUNTANTS: BK Plus - Chorley
Chartered Certified Accountants
41 St Thomas's Road
Chorley
Lancashire
PR7 1JE

OUTBACK FILMS LTD (REGISTERED NUMBER: 10283186)

Balance Sheet
31st July 2024

31.7.24 31.7.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 66,477 79,825

CURRENT ASSETS
Debtors 5 7,194 3,137
Cash at bank 81,565 71,927
88,759 75,064
CREDITORS
Amounts falling due within one year 6 29,874 35,893
NET CURRENT ASSETS 58,885 39,171
TOTAL ASSETS LESS CURRENT
LIABILITIES

125,362

118,996

PROVISIONS FOR LIABILITIES 12,631 15,167
NET ASSETS 112,731 103,829

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 112,631 103,729
SHAREHOLDERS' FUNDS 112,731 103,829

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st July 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 6th January 2025 and were signed by:



Mr R Pimlott - Director


OUTBACK FILMS LTD (REGISTERED NUMBER: 10283186)

Notes to the Financial Statements
for the Year Ended 31st July 2024

1. STATUTORY INFORMATION

Outback Films Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Revenue recognition
Revenue is measured at the fair value of the consideration received or receivable and represents amounts received for services rendered, stated net of discounts and of Value Added Tax.
Income is recognised when services have been rendered to customers.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 15% on reducing balance
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Impairment of assets
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carry amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments' of FRS 102 to all its 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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


OUTBACK FILMS LTD (REGISTERED NUMBER: 10283186)

Notes to the Financial Statements - continued
for the Year Ended 31st July 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Cash and cash equivalents
Cash and cash equivalents includes cash in hand, deposits held with banks, and bank overdrafts. Bank overdrafts, when applicable, are shown within borrowings in current liabilities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1st August 2023 4,983 128,146 2,318 34,193 169,640
Additions - 4,652 - - 4,652
At 31st July 2024 4,983 132,798 2,318 34,193 174,292
DEPRECIATION
At 1st August 2023 3,192 78,308 1,192 7,123 89,815
Charge for year 270 10,681 282 6,767 18,000
At 31st July 2024 3,462 88,989 1,474 13,890 107,815
NET BOOK VALUE
At 31st July 2024 1,521 43,809 844 20,303 66,477
At 31st July 2023 1,791 49,838 1,126 27,070 79,825

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade debtors 5,374 1,295
Amounts recoverable on contract - 1,476
Other debtors 947 -
Prepayments 873 366
7,194 3,137

OUTBACK FILMS LTD (REGISTERED NUMBER: 10283186)

Notes to the Financial Statements - continued
for the Year Ended 31st July 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade creditors 89 62
Tax 8,523 5,911
VAT 2,568 4,114
Other creditors 3,409 7,364
Directors' current accounts 14,185 17,417
Accrued expenses 1,100 1,025
29,874 35,893

7. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The balance of the loan due to the director at the balance sheet date was £14,185 (2023: £17,417). There is no interest payable on this loan and no formal agreement of settlement date.

8. ULTIMATE CONTROLLING PARTY

Mr R and Mrs K Pimlott are the company's controlling party by virtue of their 100% holding of the issued ordinary share capital.