Registered number
SC408866
Tilt Films Limited
Filleted Accounts
For the year ended 31 October 2024
Tilt Films Limited
Registered number: SC408866
Balance Sheet
as at 31 October 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 31,074 -
Current assets
Stocks 93,494 87,749
Debtors 4 - 20
Cash at bank and in hand 67,824 3,518
161,318 91,287
Creditors: amounts falling due within one year 5 (131,254) (102,675)
Net current assets/(liabilities) 30,064 (11,388)
Total assets less current liabilities 61,138 (11,388)
Provisions for liabilities (937) -
Net assets/(liabilities) 60,201 (11,388)
Capital and reserves
Called up share capital 100 100
Profit and loss account 60,101 (11,488)
Shareholders' funds 60,201 (11,388)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the board on 24 June 2025
S E Neave
Director
Tilt Films Limited
for the year ended 31 October 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover relates to fees receivable in the year and advances from third parties in respect of projects, exclusive of value added tax.

In respect of long-term contracts and contracts for ongoing services, turnover represents the value of work carried out in the year, including estimates of amounts not invoiced. Turnover in respect of long term contracts and contracts for ongoing services is recognised by reference to the stage of completion.


Advances
The company receives advances from third parties to finance the development of specific projects. These advances are treated as current liabilities. The company takes these advances to the credit of the profit and loss account when the project is completed or abandoned.


Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold property 20% per annum on cost
Fixtures, fittings and equipment 25% per annum on cost
Stocks
Stocks represent development expenditure carried forward as work in progress and written off when projects are completed or not expected to be persued within a reasonable time.

Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any forseeable losses where appropriate. No element of profit is included in the valuation of work in progress.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that 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. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Leasehold property Fixtures fittings and equipment Total
£ £ £
Cost
At 1 November 2023 - - -
Additions 30,933 4,390 35,323
Disposals - - -
At 31 October 2024 30,933 4,390 35,323
Depreciation
Charge for the year 3,609 640 4,249
At 31 October 2024 3,609 640 4,249
Net book value
At 31 October 2024 27,324 3,750 31,074
At 31 October 2023 - - -
4 Debtors 2024 2023
£ £
Other debtors - 20
5 Creditors: amounts falling due within one year 2024 2023
£ £
Production advances 96,076 96,076
Taxation and social security costs 20,581 -
Other creditors 14,597 6,599
131,254 102,675
6 Other information
Tilt Films Limited is a private company limited by shares and incorporated in Scotland. Its registered office is International House, 38 Thistle Street, Edinburgh EH2 1EN.
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