Company Registration No. SC795007 (England and Wales)
Pumpkin Films Limited
Annual report and unaudited financial statements
for the period ended 31 August 2024
Pumpkin Films Limited
Company information
Directors
N Alae-Carew
(Appointed 21 June 2024)
A Richman
(Appointed 12 January 2024)
J Kahn
(Appointed 12 January 2024)
Company number
SC795007
Registered office
3rd Floor
101 Portman Street
Glasgow
United Kingdom
G41 1EJ
Pumpkin Films Limited
Contents
Page
Directors' report
1
Accountants' report
2
Income statement
3
Statement of financial position
4
Notes to the financial statements
5 - 8
Pumpkin Films Limited
Directors' report
For the period ended 31 August 2024
1
The directors present their annual report and financial statements for the period ended 31 August 2024.
The company was incorporated on 12 January 2024 and started trading on the same date.
Principal activities
The principal activity of the company was that of motion picture production.
Directors
The directors who held office during the period and up to the date of signature of the financial statements were as follows:
N Alae-Carew
(Appointed 21 June 2024)
A Richman
(Appointed 12 January 2024)
J Kahn
(Appointed 12 January 2024)
Small companies exemption
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
On behalf of the board
N Alae-Carew
Director
4 July 2025
Pumpkin Films Limited
Accountants' report to the Board of Directors on the preparation of the unaudited statutory financial statements of Pumpkin Films Limited for the period ended 31 August 2024
2
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Pumpkin Films Limited for the period ended 31 August 2024 set out on pages 3 to 8 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 at icaew.com/regulation.
This report is made solely to the Board of Directors of Pumpkin Films Limited, as a body, in accordance with the terms of our engagement letter dated 17 April 2024. Our work has been undertaken solely to prepare for your approval the financial statements of Pumpkin Films Limited and state those matters that we have agreed to state to the Board of Directors of Pumpkin Films Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Pumpkin Films Limited and its Board of Directors as a body, for our work or for this report.
It is your duty to ensure that Pumpkin Films 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 result of Pumpkin Films Limited. You consider that Pumpkin Films Limited is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or a review of the financial statements of Pumpkin Films 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.
Saffery LLP
8 July 2025
Chartered Accountants
Pumpkin Films Limited
Income statement
For the period ended 31 August 2024
3
Period
ended
31 August
2024
£
Turnover
3,361,215
Cost of sales
(4,678,336)
Gross loss
(1,317,121)
Administrative expenses
(9,000)
Other operating income
1,449,568
Profit before taxation
123,447
Tax on profit
(123,447)
Profit for the financial period
The income statement has been prepared on the basis that all operations are continuing operations.
Pumpkin Films Limited
Statement of financial position
As at 31 August 2024
4
2024
Notes
£
£
Current assets
Debtors
4
3,147,089
Cash at bank and in hand
97,657
3,244,746
Creditors: amounts falling due within one year
5
(3,244,745)
Net current assets
1
Capital and reserves
-
Called up share capital
1
For the financial period ended 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 4 July 2025 and are signed on its behalf by:
N Alae-Carew
Director
Company Registration No. SC795007
Pumpkin Films Limited
Notes to the financial statements
For the period ended 31 August 2024
5
1
Accounting policies
Company information
Pumpkin Films Limited is a private company limited by shares incorporated in England and Wales. The registered office is 3rd Floor, 101 Portman Street, Glasgow, United Kingdom, G41 1EJ.
1.1
Reporting period
The financial statements presented are for a short period of 7.5 months from 12 January 2024 (date of incorporation) to 31 August 2024. As this is the first period of accounts there is no comparative period.
1.2
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.
1.4
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.5
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Pumpkin Films Limited
Notes to the financial statements (continued)
For the period ended 31 August 2024
1
Accounting policies (continued)
6
Basic financial assets
Basic financial assets, which include debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
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.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
1.6
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.7
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Pumpkin Films Limited
Notes to the financial statements (continued)
For the period ended 31 August 2024
1
Accounting policies (continued)
7
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Where items recognised in other comprehensive income or equity are chargeable to or deductible for tax purposes, the resulting current or deferred tax expense or income is presented in the same component of comprehensive income or equity as the transaction or other event that resulted in the tax expense or income. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.8
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.9
Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
2
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 amount 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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
Pumpkin Films Limited
Notes to the financial statements (continued)
For the period ended 31 August 2024
8
3
Employees
The average monthly number of persons (including directors) employed by the company during the period was:
2024
Number
Total
8
4
Debtors
2024
Amounts falling due within one year:
£
Other debtors
3,147,089
5
Creditors: amounts falling due within one year
2024
£
Trade creditors
2,352
Other creditors
3,242,393
3,244,745