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Registered number: 09734764














HANDY FILMS LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

 
HANDY FILMS LIMITED
 

CONTENTS



Page
Statement of financial position
 
1
Notes to the financial statements
 
2 - 5


 
HANDY FILMS LIMITED
REGISTERED NUMBER:09734764

STATEMENT OF FINANCIAL POSITION
AS AT 31 AUGUST 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
-
312

Current assets
  

Debtors: amounts falling due within one year
 5 
-
125

Cash at bank and in hand
  
1,953
4,046

  
1,953
4,171

Current liabilities
  

Creditors: amounts falling due within one year
 6 
(19,012)
(5,585)

Net current liabilities
  
 
 
(17,059)
 
 
(1,414)

  

Net liabilities
  
(17,059)
(1,102)


Capital and reserves
  

Called up share capital 
 7 
100
100

Profit and loss account
  
(17,159)
(1,202)

  
(17,059)
(1,102)


The Director considers 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 Director acknowledges her 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 12 May 2025.




C L Handford
Director

The notes on pages 2 to 5 form part of these financial statements.

Page 1

 
HANDY FILMS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1.


General information

Handy Films Limited is a limited liability company registered in England and Wales. Its registered office address is at 21 Heaven Tree Close, Islington, London, United Kingdom, N1 2PW.
The principal activity of the Company during the year was that of consultancy services.
The Company's functional and presentational currency is £ sterling.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover is measured at the fair value of amounts receivable in respect of services provided in the year, net of trade discounts and excluding Value Added Tax. Revenue from consultancy services is recognised when all contractual obligations have been met.

 
2.3

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.4

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 reporting date in the countries where the Company operates and generates income.


Page 2

 
HANDY FILMS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Computer equipment
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Financial instruments


The Company only enters into transactions that result in basic financial instruments such as trade and other debtors, trade and other creditors, cash at bank and in hand, loans to/from related parties.
Trade debtors, other debtors and loans to related parties are recognised initially at the transaction price less attributable transaction costs. Trade creditors, other creditors and loans from related parties are recognised initially at transaction price plus attributable transaction costs. Subsequently they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade and other debtors, and loans to related parties.
Cash and cash equivalents comprise cash balances and call deposits. Bank overdrafts that are repayable on demand and form an integral part of the company's cash management.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

Page 3

 
HANDY FILMS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

4.


Tangible fixed assets





Computer equipment

£



Cost or valuation


At 1 September 2023
1,249



At 31 August 2024

1,249



Depreciation


At 1 September 2023
937


Charge for the year on owned assets
312



At 31 August 2024

1,249



Net book value



At 31 August 2024
-



At 31 August 2023
312


5.


Debtors

2024
2023
£
£


Trade debtors
-
125



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
1,800
-

Other creditors
15,412
1,985

Accruals and deferred income
1,800
3,600

19,012
5,585


Page 4

 
HANDY FILMS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

7.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary shares of £1 each
100
100



8.


Pension commitments

The company contributes to a defined contributions pension scheme. The assets of the scheme are held seperately from those of the company in a independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £8,342 (2023 - £3,033). Contributions totalling £Nil (2023 - £Nil) were payable to the fund at reporting date and are included in creditors. 

 
Page 5