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Company Registration number: 03944689

Fulcrum Films Limited

Annual Report and Unaudited
Financial Statements


for the Period from 1 April 2023 to
30 September 2024

 

Fulcrum Films Limited

Contents

Pages

Balance sheet

1 to 2

Notes to the financial statements

3 to 8

 

Fulcrum Films Limited

Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

-

525

Tangible assets

5

-

315,201

 

-

315,726

Current assets

 

Stocks

6

20,233

249,659

Debtors

7

97,511

257,407

Cash at bank and in hand

 

227,322

62,504

 

345,066

569,570

Creditors: Amounts falling due within one year

8

(126,168)

(213,728)

Net current assets

 

218,898

355,842

Total assets less current liabilities

 

218,898

671,568

Creditors: Amounts falling due after more than one year

8

-

(21,667)

Provisions for liabilities

-

(59,510)

Net assets

 

218,898

590,391

Capital and reserves

 

Called up share capital

40,000

40,000

Retained earnings

178,898

550,391

Shareholders' funds

 

218,898

590,391

 

Fulcrum Films Limited

Balance Sheet as at 30 September 2024 (continued)

For the financial period ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Company registration number: 03944689

Approved and authorised by the Board on 22 April 2025 and signed on its behalf by:
 

.........................................
Mr R A Clarke
Director

 

Fulcrum Films Limited

Notes to the financial statements for the Period from 1 April 2023 to 30 September 2024

1

GENERAL INFORMATION

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Quarry House
Great Corby
Carlisle
CA4 8NE
 

These financial statements were authorised for issue by the Board on 22 April 2025.

2

ACCOUNTING POLICIES

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the entity. Monetary amounts in these financial statements are rounded to the nearest £.

 

Fulcrum Films Limited

Notes to the financial statements for the Period from 1 April 2023 to 30 September 2024 (continued)

2

ACCOUNTING POLICIES (continued)

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. Actual results may differ from these estimates.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Foreign currency transactions are initially recorded in the functional currency, by applying the spot rate exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the statement of income and retained earnings.

Taxation

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
 

The current corporation 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 taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Fulcrum Films Limited

Notes to the financial statements for the Period from 1 April 2023 to 30 September 2024 (continued)

2

ACCOUNTING POLICIES (continued)

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Computer equipment

10% reducing balance

Property improvements

5 years straight line

Plant and machinery

10% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Fulcrum Films Limited

Notes to the financial statements for the Period from 1 April 2023 to 30 September 2024 (continued)

2

ACCOUNTING POLICIES (continued)

Financial instruments

Classification
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
 Recognition and measurement
Basic financial instruments are initially recognised at the transaction price.
 Impairment
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

3

STAFF NUMBERS

The average number of persons employed by the company (including directors) during the period, was 18 (2023 - 17).

 

Fulcrum Films Limited

Notes to the financial statements for the Period from 1 April 2023 to 30 September 2024 (continued)

4

INTANGIBLE ASSETS

Goodwill
 £

Website
 £

Total
£

Cost or valuation

At 1 April 2023

31,060

9,750

40,810

Disposals

(31,060)

(9,750)

(40,810)

At 30 September 2024

-

-

-

Amortisation

At 1 April 2023

31,060

9,225

40,285

Amortisation eliminated on disposals

(31,060)

(9,225)

(40,285)

At 30 September 2024

-

-

-

Carrying amount

At 30 September 2024

-

-

-

At 31 March 2023

-

525

525

5

TANGIBLE ASSETS

Property improvements
£

Plant and machinery
£

Computer equipment
£

Total
£

Cost or valuation

At 1 April 2023

5,849

733,872

44,899

784,620

Additions

-

5,025

-

5,025

Disposals

(5,849)

(738,897)

(44,899)

(789,645)

At 30 September 2024

-

-

-

-

Depreciation

At 1 April 2023

5,849

433,704

29,866

469,419

Eliminated on disposal

(5,849)

(433,704)

(29,866)

(469,419)

At 30 September 2024

-

-

-

-

Carrying amount

At 30 September 2024

-

-

-

-

At 31 March 2023

-

300,167

15,034

315,201

 

Fulcrum Films Limited

Notes to the financial statements for the Period from 1 April 2023 to 30 September 2024 (continued)

6

STOCKS

2024
£

2023
£

Stock and work in progress

20,233

249,659

7

DEBTORS

Current

2024
£

2023
£

Trade debtors

83,405

243,719

Prepayments

-

13,688

Other debtors

14,106

-

 

97,511

257,407

8

CREDITORS

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

 

Bank loans and overdrafts

139

10,000

Trade creditors

 

16,786

160,091

Taxation and social security

 

31,011

18,856

Accruals and deferred income

 

18,111

4,375

Other creditors

 

60,121

20,406

 

126,168

213,728

Creditors: amounts falling due after more than one year

2024
£

2023
£

Due after one year

 

Loans and borrowings

-

21,667