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Registered number: 09697325
An Film And Television Limited
Unaudited Financial Statements
For The Year Ended 31 July 2024
Byrne & Company Chartered Accountant
Suite 1532
26 Upper Pembroke Street
Dublin 2
D02X 361
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—8
Page 1
Balance Sheet
Registered number: 09697325
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 327,487 370,588
Investment Properties 5 91,351 91,351
418,838 461,939
CURRENT ASSETS
Debtors 6 31,491 22,289
Investments 7 30,000 30,000
Cash at bank and in hand 172,207 300,721
233,698 353,010
Creditors: Amounts Falling Due Within One Year 8 (29,352 ) (46,860 )
NET CURRENT ASSETS (LIABILITIES) 204,346 306,150
TOTAL ASSETS LESS CURRENT LIABILITIES 623,184 768,089
Creditors: Amounts Falling Due After More Than One Year 9 (35,511 ) (61,084 )
NET ASSETS 587,673 707,005
CAPITAL AND RESERVES
Called up share capital 11 1 1
Profit and Loss Account 587,672 707,004
SHAREHOLDERS' FUNDS 587,673 707,005
Page 1
Page 2
For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Allan Niblo
Director
25th February 2025
The notes on pages 3 to 8 form part of these financial statements.
Page 2
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Notes to the Financial Statements
1. General Information
An Film And Television Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09697325 . The registered office is 79 Longton Avenue, London, London, SE26 6RF.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Significant judgements and estimations
The directors consider the accounting estimates and assumptions below to be its critical accounting estimates and judgements:
Going Concern
The directors have prepared budgets and cash flows for a period of at least twelve months from the date of the approval of the financial statements which demonstrate that there is no material uncertainty regarding the company's ability to meet its liabilities as they fall due, and to continue as a going concern. On this basis the directors consider it appropriate to prepare the financial statements on a going concern basis. Accordingly, these financial statements do not include any adjustments to the carrying amounts and classification of assets and liabilities that may arise if the company was unable to continue as a going concern.
Impairment of Trade Debtors
The company trades with a varied number of customers on credit terms. Some debts due many not be paid through the default of a small number of customers. The company uses estimates based on historical experience and current information in determining the level of debts for which an impairment charge is required. The level of impairment required is reviewed on an ongoing basis. The total amount of trade debtors is £21,737 (2023: £22,289).
Useful Lives of Tangible and Intangible Fixed Assets
Long-lived assets comprising primarily of fixtures and fittings, plant and machinery and motor vehicles represent a significant portion of total assets. The annual depreciation and amortisation charge depends primarily on the estimated lives of each type of asset and, in certain circumstances, estimates of residual values. The directors regularly review these useful lives and change them if necessary to reflect current conditions. In determining these useful lives management consider technological change, patterns of consumption, physical condition and expected economic utilisation of the assets. Changes in the useful lives can have a significant impact on the depreciation and amortisation charge for the financial year. The net book value of Tangible Fixed Assets subject to depreciation at the financial year end date was £327,487 (2023: £370,588).
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
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2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 2% on cost
Plant & Machinery 20% on cost
Motor Vehicles 25% on cost
Fixtures & Fittings at varying rates on cost
Computer Equipment 20% on cost
2.5. Investment Properties
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised inprofit or loss.
Investment properties are properties owned by the company that are held for long-term rental income or for capital appreciation or both. Investment properties are initially recognised at cost, including transaction costs when ownership of the property is transferred. Where recognition criteria are met, the carrying value includes subsequent costs to add to or replace part of an investment property. Subsequent to initial recognition, investment properties are stated at fair value, which reflects market conditions at the reporting date.
Gains or losses arising from changes in the fair values of investment properties are included in profit or loss of the statement of comprehensive income in the period in which they arise.
2.6. Financial Instruments
The ordinary share capital of the company is presented as equity.
2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
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2.8. Cash and cash equivalents
Cash consists of cash on hand and demand deposits. Cash equivalents consist of short term highly liquid investments that are readily convertible to known amounts of cash that are subject to an insignificant risk of change in value.
2.9. Loans and borrowings
All loans made by the company are initially recorded at the amount of cash advanced plus transaction costs incurred, unless the arrangement constitutes, in effect, a financing transaction, in which case it is measured at the present value of future payments discounted at a market rate of interest for a similar debt instrument. Subsequently loans made by the company are stated at amortised cost using the effective interest rate method less impairment, where there is objective evidence of impairment.
All borrowings by the company, with the exception of loans from directors who are natural persons and shareholders in the company (or close members of the family of such persons), are initially recorded at the amount of cash received less separately incurred transaction costs, unless the arrangement constitutes, in effect, a financing transaction, in which case it is measured at the present value of future payments discounted at a market rate of interest for a similar debt instrument. Subsequently, borrowings are stated at amortised cost using the effective interest rate method.
Loans from directors who are natural persons and shareholders in the company (or close members of the family of such persons) are initially measured at transaction price and not discounted on subsequent measurement.
The computation of amortised cost includes any issue costs, transaction costs and fees, and any discount or premium on settlement, and the effect of this is to amortise these amounts over the expected borrowing period. Loans with no stated interest rate and repayable within one year or on demand are not amortised. Loans and borrowings are classified as current assets or liabilities unless the borrower has an unconditional right to defer settlement of the liability for at least twelve months after the financial year end date.
2.10. Impairment of financial assets
At the end of each reporting period, the company assesses whether there is objective evidence of impairment of any financial assets that are measured at cost or amortised cost, including unlisted investments, loans, trade debtors and cash. If there is objective evidence of impairment, impairment losses are recognised in the Profit and Loss account in that financial year.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 August 2023 365,942 25,104 65,990 24,175
As at 31 July 2024 365,942 25,104 65,990 24,175
...CONTINUED
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Depreciation
As at 1 August 2023 53,939 15,063 32,996 9,047
Provided during the period 18,297 5,021 16,498 3,019
As at 31 July 2024 72,236 20,084 49,494 12,066
Net Book Value
As at 31 July 2024 293,706 5,020 16,496 12,109
As at 1 August 2023 312,003 10,041 32,994 15,128
Computer Equipment Total
£ £
Cost
As at 1 August 2023 1,331 482,542
As at 31 July 2024 1,331 482,542
Depreciation
As at 1 August 2023 909 111,954
Provided during the period 266 43,101
As at 31 July 2024 1,175 155,055
Net Book Value
As at 31 July 2024 156 327,487
As at 1 August 2023 422 370,588
5. Investment Property
2024
£
Fair Value
As at 1 August 2023 and 31 July 2024 91,351
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 21,737 22,289
Other debtors 9,754 -
31,491 22,289
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7. Current Asset Investments
2024 2023
£ £
Other investments, held for sale 30,000 30,000
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 5,878 5,878
Bank loans and overdrafts 19,261 10,000
Other creditors 3,321 22,825
Taxation and social security 892 8,157
29,352 46,860
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 35,511 41,616
Bank loans - 19,468
35,511 61,084
10. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 5,878 5,878
Later than one year and not later than five years 35,511 41,616
41,389 47,494
41,389 47,494
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
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12. Directors Advances, Credits and Guarantees
Transactions with directors
As at 1 August 2023 Amounts advanced Amounts repaid Amounts written off As at 31 July 2024
£ £ £ £ £
Mr Allan Niblo (15,832 ) - (15,504 ) - (328 )
13. Dividends
2024 2023
£ £
On equity shares:
Interim dividend paid 63,000 30,000
14. Ultimate Controlling Party
The company's ultimate controlling party is Allan Niblo by virtue of his ownership of 100% of the issued share capital in the company.
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