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Company No: 09289854 (England and Wales)

JMC FILMS LIMITED

Unaudited Financial Statements
For the financial year ended 31 October 2024
Pages for filing with the registrar

JMC FILMS LIMITED

Unaudited Financial Statements

For the financial year ended 31 October 2024

Contents

JMC FILMS LIMITED

COMPANY INFORMATION

For the financial year ended 31 October 2024
JMC FILMS LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 October 2024
DIRECTOR Joseph Cornish
REGISTERED OFFICE 22 Chancery Lane
London
WC2A 1LS
United Kingdom
COMPANY NUMBER 09289854 (England and Wales)
JMC FILMS LIMITED

BALANCE SHEET

As at 31 October 2024
JMC FILMS LIMITED

BALANCE SHEET (continued)

As at 31 October 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 2,333 5,982
Investments 4 1,663,798 1,621,069
1,666,131 1,627,051
Current assets
Debtors 5 323,676 21,816
Cash at bank and in hand 147,961 185,349
471,637 207,165
Creditors: amounts falling due within one year 6 ( 492,750) ( 424,845)
Net current liabilities (21,113) (217,680)
Total assets less current liabilities 1,645,018 1,409,371
Net assets 1,645,018 1,409,371
Capital and reserves
Called-up share capital 1 1
Profit and loss account 1,645,017 1,409,370
Total shareholder's funds 1,645,018 1,409,371

For the financial year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of JMC Films Limited (registered number: 09289854) were approved and authorised for issue by the Director on 19 June 2025. They were signed on its behalf by:

Joseph Cornish
Director
JMC FILMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2024
JMC FILMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

JMC Films Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 22 Chancery Lane, London, WC2A 1LS, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Turnover is recognised in the period in which services are provided.

Interest income

Interest on deposits and fixed interest securities are accounted for an accruals basis.

Dividend income

Dividends are accounted for on an ex-dividend accruals basis.

Taxation

Current tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, 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 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
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 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.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Investments
Investments which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss.

Ordinary share capital

The ordinary share capital of the company is presented as equity.

Dividends

Interim dividends are recognised when paid to the company's shareholders. Final dividends are recognised as a liability in the financial statements when approved by the members.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the company during the year, including the director 2 2

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 November 2023 26,479 26,479
At 31 October 2024 26,479 26,479
Accumulated depreciation
At 01 November 2023 20,497 20,497
Charge for the financial year 3,649 3,649
At 31 October 2024 24,146 24,146
Net book value
At 31 October 2024 2,333 2,333
At 31 October 2023 5,982 5,982

4. Fixed asset investments

Listed investments Total
£ £
Cost or valuation before impairment
At 01 November 2023 1,621,069 1,621,069
Additions 771,707 771,707
Disposals ( 886,603) ( 886,603)
Movement in fair value 157,625 157,625
At 31 October 2024 1,663,798 1,663,798
Carrying value at 31 October 2024 1,663,798 1,663,798
Carrying value at 31 October 2023 1,621,069 1,621,069

The fair value of listed investments was determined with reference to the quoted market price at the reporting date. The cost of the shares on acquisition was £1,525,880 .

5. Debtors

2024 2023
£ £
Trade debtors 323,676 21,816

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 38,863 0
Taxation and social security 176,366 219,392
Other creditors 277,521 205,453
492,750 424,845

7. Deferred tax

2024 2023
£ £
At the beginning of financial year ( 1,496) ( 1,562)
(Charged)/credited to the Profit and Loss Account ( 28,466) 66
At the end of financial year ( 29,962) ( 1,496)

8. Related party transactions

Transactions with the entity's director

2024 2023
£ £
Balance owed to the director brought forward 199,057 44,023
Repayments made to the director during the year (403,636) (253,348)
Advances made to the company during the year 444,637 408,382
Balance owed to director carried forward 240,058 199,057

During the year, the director advanced a loan to the company of £444,637 (2023 - £408,382). During the year, the company repaid £403,636 (2023 - £253,348) to the director. The loan from the director is interest free and repayable on demand. However, if the director loan account becomes overdrawn, the loan is interest bearing at HMRC's official rate of interest and is repayable on demand. At the balance sheet date the amount due to the director was £240,058 (2023- £199,057).