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Registration number: 15157406

Affine Films Limited

Annual Report and Unaudited Financial Statements

for the Period from 22 September 2023 to 30 September 2024

image-name
 

Affine Films Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Affine Films Limited

Company Information

Directors

Miss Madeleine Anne Sanderson

Mrs Jane Margaret Fearn

Company secretary

Miss Madeleine Anne Sanderson

Registered office

2/4 Ash Lane
Rustington
Littlehampton
West Sussex
BN16 3BZ

Accountants

Lucraft Hodgson & Dawes LLP
2/4 Ash Lane
Rustington
West Sussex
BN16 3BZ

 

Affine Films Limited

(Registration number: 15157406)
Balance Sheet as at 30 September 2024

Note

2024
£

Current assets

 

Stocks

4

209,419

Debtors

5

59,441

 

268,860

Creditors: Amounts falling due within one year

6

(199,576)

Total assets less current liabilities

 

69,284

Creditors: Amounts falling due after more than one year

6

(75,000)

Net liabilities

 

(5,716)

Capital and reserves

 

Called up share capital

7

2

Profit and loss account

(5,718)

Shareholders' deficit

 

(5,716)

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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been 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.

Approved and authorised by the Board on 17 June 2025 and signed on its behalf by:
 

.........................................
Miss Madeleine Anne Sanderson
Company secretary and director

 

Affine Films Limited

Notes to the Unaudited Financial Statements for the Period from 22 September 2023 to 30 September 2024

1

General information

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

The address of its registered office is:
2/4 Ash Lane
Rustington
Littlehampton
West Sussex
BN16 3BZ
United Kingdom

These financial statements were authorised for issue by the Board on 17 June 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.

These financial statements are presented in Sterling, which is also the company's functional currency. The financial statements are rounded to the nearest £1.

Going concern

The financial statements have been prepared on a going concern basis.

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.

 

Affine Films Limited

Notes to the Unaudited Financial Statements for the Period from 22 September 2023 to 30 September 2024

2

Accounting policies (continued)

Tax

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 taxable income.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Affine Films Limited

Notes to the Unaudited Financial Statements for the Period from 22 September 2023 to 30 September 2024

2

Accounting policies (continued)

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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2.

4

Stocks

2024
£

Work in progress

209,419

209,419

5

Debtors

Current

Note

2024
£

Trade debtors

 

5,347

Amounts owed by related parties

9

816

Prepayments

 

273

Other debtors

 

53,005

   

59,441

 

Affine Films Limited

Notes to the Unaudited Financial Statements for the Period from 22 September 2023 to 30 September 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

Due within one year

 

Loans and borrowings

8

180,429

Trade creditors

 

15,134

Taxation and social security

 

1,462

Accruals and deferred income

 

2,551

 

199,576

Creditors: amounts falling due after more than one year

Note

2024
£

Due after one year

 

Loans and borrowings

8

75,000

 

75,000

7

Share capital

8

Loans and borrowings

2024
£

Non-current loans and borrowings

Other borrowings

75,000

75,000

 

Affine Films Limited

Notes to the Unaudited Financial Statements for the Period from 22 September 2023 to 30 September 2024

8

Loans and borrowings (continued)

2024
£

Current loans and borrowings

Bank overdrafts

174

Other borrowings

180,255

180,429

9

Related party transactions

Transactions with directors

 

Affine Films Limited

Notes to the Unaudited Financial Statements for the Period from 22 September 2023 to 30 September 2024

9

Related party transactions (continued)

Directors' remuneration

The directors' remuneration for the period was as follows:

2024
£

Remuneration

24,000

24,000