Acorah Software Products - Accounts Production 16.4.675 false true 30 September 2023 1 April 2022 false 1 October 2023 30 September 2024 30 September 2024 12517905 Mr Matthew Williams Mr Ben Arslanian iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12517905 2023-09-30 12517905 2024-09-30 12517905 2023-10-01 2024-09-30 12517905 frs-core:CurrentFinancialInstruments 2024-09-30 12517905 frs-core:Non-currentFinancialInstruments 2024-09-30 12517905 frs-core:ComputerEquipment 2024-09-30 12517905 frs-core:ComputerEquipment 2023-10-01 2024-09-30 12517905 frs-core:ComputerEquipment 2023-09-30 12517905 frs-core:ShareCapital 2024-09-30 12517905 frs-core:RetainedEarningsAccumulatedLosses 2024-09-30 12517905 frs-bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 12517905 frs-bus:FilletedAccounts 2023-10-01 2024-09-30 12517905 frs-bus:SmallEntities 2023-10-01 2024-09-30 12517905 frs-bus:AuditExempt-NoAccountantsReport 2023-10-01 2024-09-30 12517905 frs-bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 12517905 frs-core:UnlistedNon-exchangeTraded 2024-09-30 12517905 frs-core:UnlistedNon-exchangeTraded 2023-09-30 12517905 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2023-09-30 12517905 frs-core:AdditionsToInvestments frs-core:UnlistedNon-exchangeTraded 2024-09-30 12517905 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2024-09-30 12517905 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2023-09-30 12517905 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2024-09-30 12517905 frs-bus:Director1 2023-10-01 2024-09-30 12517905 frs-bus:CompanySecretary1 2023-10-01 2024-09-30 12517905 frs-core:CurrentFinancialInstruments 1 2024-09-30 12517905 frs-countries:EnglandWales 2023-10-01 2024-09-30 12517905 2022-03-31 12517905 2023-09-30 12517905 2022-04-01 2023-09-30 12517905 frs-core:CurrentFinancialInstruments 2023-09-30 12517905 frs-core:Non-currentFinancialInstruments 2023-09-30 12517905 frs-core:ShareCapital 2023-09-30 12517905 frs-core:RetainedEarningsAccumulatedLosses 2023-09-30 12517905 frs-core:CurrentFinancialInstruments 1 2023-09-30
Registered number: 12517905
Future Artists Entertainment Limited
Unaudited Financial Statements
For The Year Ended 30 September 2024
EAM London Limited
Chartered Tax Accountants
215-221 Borough High Street
London
SE1 1JA
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 12517905
30 September 2024 30 September 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 108 325
Investments 5 290,033 290,000
290,141 290,325
CURRENT ASSETS
Debtors 6 2,433,893 1,183,295
Cash at bank and in hand 347,038 79,894
2,780,931 1,263,189
Creditors: Amounts Falling Due Within One Year 7 (318,464 ) (116,581 )
NET CURRENT ASSETS (LIABILITIES) 2,462,467 1,146,608
TOTAL ASSETS LESS CURRENT LIABILITIES 2,752,608 1,436,933
Creditors: Amounts Falling Due After More Than One Year 8 (1,881,838 ) (1,320,846 )
NET ASSETS 870,770 116,087
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 870,670 115,987
SHAREHOLDERS' FUNDS 870,770 116,087
Page 1
Page 2
For the 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.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Matthew Williams
Director
18/08/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Future Artists Entertainment Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12517905 . The registered office is 195 Wardour Street, London, W1F 8ZG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Computer Equipment 33.3% straight line
2.4. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
Page 3
Page 4
3. Average Number of Employees
Average number of employees, including directors, during the year was: 6 (2023: 7)
6 7
4. Tangible Assets
Computer Equipment
£
Cost
As at 1 October 2023 650
As at 30 September 2024 650
Depreciation
As at 1 October 2023 325
Provided during the period 217
As at 30 September 2024 542
Net Book Value
As at 30 September 2024 108
As at 1 October 2023 325
5. Investments
Unlisted
£
Cost
As at 1 October 2023 290,000
Additions 33
As at 30 September 2024 290,033
Provision
As at 1 October 2023 -
As at 30 September 2024 -
Net Book Value
As at 30 September 2024 290,033
As at 1 October 2023 290,000
Interests in Subsidiaries
The company holds investments in the following subsidiaries:
Name
Country of Incorporation
Ownership %
Voting Rights %
ATB FAE Ltd
United Kingdom
100%
100%
Borderline FAE Ltd
United Kingdom
100%
100%
FAE Film BP Ltd
United Kingdom
100%
100%
FAE Film BW Ltd
United Kingdom
100%
100%
Mechanic Movie Ltd
United Kingdom
100%
100%
Rath Productions Ltd
United Kingdom
50%
50%
VBC Film Ltd
United Kingdom
100%
100%
The company controls these entities through direct shareholding. There are no significant restrictions on the ability of these subsidiaries to transfer funds to the parent. No non-controlling interests exist in these companies.
Page 4
Page 5
6. Debtors
30 September 2024 30 September 2023
£ £
Due within one year
Trade debtors 252,604 121,553
Other debtors 2,181,289 1,061,742
2,433,893 1,183,295
7. Creditors: Amounts Falling Due Within One Year
30 September 2024 30 September 2023
£ £
Trade creditors 27,396 4,549
Corporation tax 36 36
Other taxes and social security 26,111 16,384
VAT 213,752 84,171
Net wages 780 -
Credit cards 3,002 10,691
Accruals and deferred income 1,367 750
Director's loan account 46,020 -
318,464 116,581
8. Creditors: Amounts Falling Due After More Than One Year
30 September 2024 30 September 2023
£ £
Other creditors 1,881,838 1,320,846
9. Share Capital
30 September 2024 30 September 2023
£ £
Allotted, Called up and fully paid 100 100
Page 5