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Registration number: 08509249

Proper Good Films Ltd

Annual Report and Unaudited Financial Statements
Year Ended 30 April 2025

image-name

Chartered Accountants

 

Proper Good Films Ltd

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 7

 

Proper Good Films Ltd

Company Information

Directors

Mr B T V Mann

Mrs K S Needles

Registered office

Studio 1
Silk Mill Studios Merchants Barton
Saxonvale
Frome
Somerset
BA11 1PT

Accountants

Edwards & Keeping
Chartered Accountants
Unity Chambers
34 High East Street
Dorchester
Dorset
DT1 1HA

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Proper Good Films Ltdfor the Year Ended 30 April 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Proper Good Films Ltd for the year ended 30 April 2025 as set out on pages 3 to 7 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
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Proper Good Films Ltd, as a body, in accordance with the terms of our engagement letter dated 2 April 2015. Our work has been undertaken solely to prepare for your approval the accounts of Proper Good Films Ltd and state those matters that we have agreed to state to the Board of Directors of Proper Good Films Ltd, 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 Proper Good Films Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Proper Good Films Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Proper Good Films Ltd. You consider that Proper Good Films Ltd 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 accounts of Proper Good Films Ltd. 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 accounts.






Edwards & Keeping
Chartered Accountants
Unity Chambers
34 High East Street
Dorchester
Dorset
DT1 1HA

18 August 2025

 

Proper Good Films Ltd

(Registration number: 08509249)
Balance Sheet as at 30 April 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

82,958

85,772

Current assets

 

Stocks

5

623

623

Debtors

6

33,887

38,476

 

34,510

39,099

Creditors: Amounts falling due within one year

7

(69,456)

(101,702)

Net current liabilities

 

(34,946)

(62,603)

Net assets

 

48,012

23,169

Capital and reserves

 

Called up share capital

8

2

2

Profit and loss account

48,010

23,167

Shareholders' funds

 

48,012

23,169

For the financial year ending 30 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 16 August 2025 and signed on its behalf by:
 


Mr B T V Mann
Director


Mrs K S Needles
Director

 
     
 

Proper Good Films Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 30 April 2025

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Studio 1
Silk Mill Studios Merchants Barton
Saxonvale
Frome
Somerset
BA11 1PT
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Proper Good Films Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 30 April 2025

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

10% straight line

Studio costs

not depreciated

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Proper Good Films Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 30 April 2025

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2024 - 3).

4

Tangible assets

Studio costs
£

Plant and machinery
£

Total
£

Cost or valuation

At 1 May 2024

64,715

47,091

111,806

Additions

-

2,194

2,194

Disposals

-

(8,304)

(8,304)

At 30 April 2025

64,715

40,981

105,696

Depreciation

At 1 May 2024

-

26,034

26,034

Charge for the year

-

3,245

3,245

Eliminated on disposal

-

(6,541)

(6,541)

At 30 April 2025

-

22,738

22,738

Carrying amount

At 30 April 2025

64,715

18,243

82,958

At 30 April 2024

64,715

21,057

85,772

5

Stocks

2025
£

2024
£

Other inventories

623

623

6

Debtors

Current

2025
£

2024
£

Trade debtors

29,669

38,476

Other debtors

4,218

-

 

33,887

38,476

 

Proper Good Films Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 30 April 2025

7

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Due within one year

 

Loans and borrowings

9

19,033

13,301

Taxation and social security

 

7,970

3,724

Accruals and deferred income

 

2,450

45,239

Other creditors

 

40,003

39,438

 

69,456

101,702

8

Share capital

Allotted, called up and fully paid shares

2025

2024

No.

£

No.

£

Ordinary share of £1 each

2

2

2

2

       

9

Loans and borrowings

Current loans and borrowings

2025
£

2024
£

Bank overdrafts

19,033

13,301

10

Dividends

2025

2024

£

£

Interim dividend of £500.00 (2024 - £1,000.00) per ordinary share

1,000

2,000