Filmcast Extrusions Limited 02683570 false 2023-10-01 2024-09-30 2024-09-30 The principal activity of the company is investment properties. Digita Accounts Production Advanced 6.30.9574.0 true true 02683570 2023-10-01 2024-09-30 02683570 2024-09-30 02683570 bus:OrdinaryShareClass1 2024-09-30 02683570 core:CurrentFinancialInstruments 2024-09-30 02683570 core:CurrentFinancialInstruments core:WithinOneYear 2024-09-30 02683570 bus:SmallEntities 2023-10-01 2024-09-30 02683570 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 02683570 bus:FilletedAccounts 2023-10-01 2024-09-30 02683570 bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 02683570 bus:RegisteredOffice 2023-10-01 2024-09-30 02683570 bus:Director1 2023-10-01 2024-09-30 02683570 bus:OrdinaryShareClass1 2023-10-01 2024-09-30 02683570 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 02683570 core:UKTax 2023-10-01 2024-09-30 02683570 countries:EnglandWales 2023-10-01 2024-09-30 02683570 2022-10-01 2023-09-30 02683570 2023-09-30 02683570 bus:OrdinaryShareClass1 2023-09-30 02683570 core:CurrentFinancialInstruments 2023-09-30 02683570 core:CurrentFinancialInstruments core:WithinOneYear 2023-09-30 02683570 core:UKTax 2022-10-01 2023-09-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 02683570

Prepared for the registrar

Filmcast Extrusions Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 September 2024

 

Filmcast Extrusions Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

Filmcast Extrusions Limited

Company Information

Directors

M P Urquhart

Dr N C Trilk

Registered office

C/O Advanced Coated Products Limited
The Vineyards Industrial Estate
Gloucester Road
Cheltenham
Gloucestershire
GL51 8NH

Solicitors

Penningtons Manches Cooper LLP
Apex Plaza
Forbury Road
Reading
Berkshire
RG1 1AX

Bankers

Coutts & Co
440 Strand
London
WC2R 0QS

Accountants

Hazlewoods LLP
Chartered Accountants
Staverton Court
Staverton
Cheltenham
GL1 0UX

 

Filmcast Extrusions Limited

(Registration number: 02683570)
Balance Sheet as at 30 September 2024

Note

2024
£ 000

2023
£ 000

Current assets

 

Debtors

5

166

594

Creditors: Amounts falling due within one year

6

(49)

(494)

Net assets

 

117

100

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

17

-

Shareholders' funds

 

117

100

For the financial year 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 year 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 accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime of the Companies Act 2006 and in accordance with FRS 102 Section 1A Small Entities.

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:
 

.........................................
M P Urquhart
Director

   
     
 

Filmcast Extrusions Limited

Notes to the Unaudited Financial Statements for the Year Ended 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:
C/O Advanced Coated Products Limited
The Vineyards Industrial Estate
Gloucester Road
Cheltenham
Gloucestershire
GL51 8NH

 

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 were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' effective January 2016 and has taken advantage of the small company exemptions available in Section 1A of FRS 102 to produce reduced disclosure accounts.

Basis of preparation

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

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Going concern

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
 

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the rental of the company's property in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax.

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.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in the profit and loss account, except that a charge 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.

 

Filmcast Extrusions Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Investment property

Investment property is included in the balance sheet at its open market value in accordance with the Financial Reporting Standard 102 (effective January 2016) and is not depreciated. This treatment is contrary to the Companies Act 2006 which states that fixed assets should be depreciated but is, in the opinion of the directors, necessary in order to give a true and fair view of the financial position of the company.

The investment property is a long leasehold property. It is held for long term investment and is revalued annually by the directors. Any revaluation surplus or deficit is transferred to the revaluation reserve unless a deficit on the investment property is expected to be permanent, in which case it is charged straight to the profit and loss account.

Depreciation is only one of many factors reflected in the annual valuation of the property and accordingly the amount of depreciation which might otherwise have been charged cannot be separately identified or quantified.

Trade debtors

Trade debtors are amounts due from customers performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. All trade debtors are repayable within one year and hence are included at the undiscounted cost of cash expected to be received. 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 debtors.

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 all are repayable within one year and hence are included at the undiscounted amount of cash expected to be paid.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Financial instruments


Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.

 

Filmcast Extrusions Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

4

Taxation

Tax charged/(credited) in the profit and loss account

2024
£ 000

2023
£ 000

Current taxation

UK corporation tax adjustment to prior periods

(17)

(36)

 

5

Debtors

2024
£ 000

2023
£ 000

Trade debtors

3

3

Receivables from related parties

163

591

166

594

 

6

Creditors

2024
£ 000

2023
£ 000

Due within one year

Taxation and social security

2

447

Accruals and deferred income

6

6

Other creditors

41

41

49

494

 

7

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No. 000

£ 000

No. 000

£ 000

Ordinary shares of £1 each

100

100

100

100

         
 

8

Parent undertaking

The company's parent is Brightborough Holdings Limited, a company incorporated in England and Wales.