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COMPANY REGISTRATION NUMBER: 07742316
Foray Films Limited
Filleted Unaudited Financial Statements
31 August 2024
Foray Films Limited
Financial Statements
Year ended 31 August 2024
Contents
Pages
Chartered accountants report to the director on the preparation of the unaudited statutory financial statements
1
Statement of financial position
2 to 3
Notes to the financial statements
4 to 6
Foray Films Limited
Chartered Accountants Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of Foray Films Limited
Year ended 31 August 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Foray Films Limited for the year ended 31 August 2024, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the director of Foray Films Limited in accordance with the terms of our engagement letter dated 10 April 2024. Our work has been undertaken solely to prepare for your approval the financial statements of Foray Films Limited and state those matters that we have agreed to state to you in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Foray Films Limited and its director for our work or for this report.
It is your duty to ensure that Foray Films Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Foray Films Limited. You consider that Foray Films Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of Foray Films Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
HEBBLETHWAITES Chartered Accountants
2 Westbrook Court Sharrow Vale Road Sheffield S11 8YZ
28 April 2025
Foray Films Limited
Statement of Financial Position
31 August 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
2,447
2,835
Current assets
Debtors
6
44
70
Cash at bank and in hand
24,113
24,750
--------
--------
24,157
24,820
Creditors: amounts falling due within one year
7
2,352
3,775
--------
--------
Net current assets
21,805
21,045
--------
--------
Total assets less current liabilities
24,252
23,880
Provisions
Taxation including deferred tax
465
539
--------
--------
Net assets
23,787
23,341
--------
--------
Foray Films Limited
Statement of Financial Position (continued)
31 August 2024
2024
2023
Note
£
£
Capital and reserves
Called up share capital
100
100
Profit and loss account
23,687
23,241
--------
--------
Shareholders funds
23,787
23,341
--------
--------
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 31 August 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 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 17 April 2025 , and are signed on behalf of the board by:
Mr A Alty
Director
Company registration number: 07742316
Foray Films Limited
Notes to the Financial Statements
Year ended 31 August 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 55a Sydenham Park Road, London, SE26 4DL.
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.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax
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.
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:
Equipment
-
15% reducing balance
Depreciation has been charged, at the above rate, for the whole of the year, regardless of the date of acquisition of fixed assets during the year.
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.
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.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Tangible assets
Equipment
Total
£
£
Cost
At 1 September 2023 and 31 August 2024
10,450
10,450
--------
--------
Depreciation
At 1 September 2023
7,615
7,615
Charge for the year
388
388
--------
--------
At 31 August 2024
8,003
8,003
--------
--------
Carrying amount
At 31 August 2024
2,447
2,447
--------
--------
At 31 August 2023
2,835
2,835
--------
--------
6. Debtors
2024
2023
£
£
Other debtors
44
70
----
----
7. Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
412
784
Social security and other taxes
137
Other creditors
1,803
2,991
-------
-------
2,352
3,775
-------
-------