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Western Edge Pictures Limited

Financial Statements for the Year Ended 30 September 2024






Western Edge Pictures Limited

Company Information
for the Year Ended 30 September 2024







DIRECTORS: F E Goodwin
V H S Sivell





REGISTERED OFFICE: Unit 5
139-149 Fonthill Road
London
N4 3HF





REGISTERED NUMBER: 07764979 (England and Wales)





ACCOUNTANTS: BPU Limited
Chartered Accountants
Radnor House
Greenwood Close
Cardiff Gate Business Park
Cardiff
CF23 8AA

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Western Edge Pictures Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Western Edge Pictures Limited for the year ended 30 September 2024 which comprise the Profit & Loss Account, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Western Edge Pictures Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Western Edge Pictures Limited and state those matters that we have agreed to state to the Board of Directors of Western Edge Pictures Limited, as a body, in this report in accordance with icaew/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Western Edge Pictures Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Western Edge Pictures Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Western Edge Pictures Limited. You consider that Western Edge Pictures Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Western Edge Pictures Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






BPU Limited
Chartered Accountants


27 June 2025

Western Edge Pictures Limited (Registered number: 07764979)

Balance Sheet
30 September 2024

2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible assets 3 210,244 209,922
Tangible assets 4 7,906 8,672
218,150 218,594

CURRENT ASSETS
Debtors 5 25,519 23,595
Cash at bank and in hand 18,825 32,904
44,344 56,499
CREDITORS
Amounts falling due within one year 6 120,151 121,915
NET CURRENT LIABILITIES (75,807 ) (65,416 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

142,343

153,178

CREDITORS
Amounts falling due after more than
one year

7

140,587

141,880
NET ASSETS 1,756 11,298

CAPITAL AND RESERVES
Called up share capital 122 122
Retained earnings 1,634 11,176
SHAREHOLDERS' FUNDS 1,756 11,298

Western Edge Pictures Limited (Registered number: 07764979)

Balance Sheet - continued
30 September 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit & Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 June 2025 and were signed on its behalf by:





V H S Sivell - Director


Western Edge Pictures Limited (Registered number: 07764979)

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


1. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Film production costs included as fixed assets on film completion are amortised in line with income on a pound for pound basis.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures, fittings & equipment - 25% straight line

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

Western Edge Pictures Limited (Registered number: 07764979)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024


3. INTANGIBLE FIXED ASSETS
Film
development
costs
£
COST
At 1 October 2023 240,922
Additions 322
At 30 September 2024 241,244
AMORTISATION
At 1 October 2023
and 30 September 2024 31,000
NET BOOK VALUE
At 30 September 2024 210,244
At 30 September 2023 209,922

4. TANGIBLE FIXED ASSETS
Fixtures,
fittings &
equipment
£
COST
At 1 October 2023 21,873
Additions 2,343
At 30 September 2024 24,216
DEPRECIATION
At 1 October 2023 13,201
Charge for year 3,109
At 30 September 2024 16,310
NET BOOK VALUE
At 30 September 2024 7,906
At 30 September 2023 8,672

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Other debtors & prepayments 25,519 23,595

Western Edge Pictures Limited (Registered number: 07764979)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Taxes & social security costs 19,178 16,993
Other creditors & accruals 100,973 104,922
120,151 121,915

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£ £
Other creditors 140,587 141,880

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£ £
Other creditors 104,450 104,450

Ffilm Cymru Wales hold a fixed and floating charge over the assets of the company as security against the other creditor's balance.