Registration number:
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OD Pictures Ltd
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OD Pictures Ltd
Contents
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Company Information |
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Director's Report |
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Statement of Income and Retained Earnings |
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Statement of Financial Position |
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Notes to the Unaudited Financial Statements |
OD Pictures Ltd
Company Information
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Director |
Mr O Deeks |
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Registered office |
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Accountants |
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OD Pictures Ltd
Director's Report for the Year Ended 31 March 2025
The director presents his report and the financial statements for the year ended 31 March 2025.
Director of the company
The director who held office during the year was as follows:
Small companies provision statement
This report has 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.
Approved by the Board on
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Mr O Deeks
Director
OD Pictures Ltd
Statement of Income and Retained Earnings for the Year Ended 31 March 2025
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Note |
2025 |
2024 |
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Turnover |
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Cost of sales |
( |
( |
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Gross profit |
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Administrative expenses |
( |
( |
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Operating profit |
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Other interest receivable and similar income |
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Interest payable and similar charges |
( |
( |
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1,133 |
(203) |
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Profit before tax |
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Taxation |
( |
( |
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Profit for the financial year |
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Retained earnings brought forward |
47,542 |
37,373 |
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Dividends paid |
( |
( |
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Retained earnings carried forward |
76,246 |
47,542 |
OD Pictures Ltd
Statement of Financial Position as at 31 March 2025
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Note |
2025 |
2024 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
2 |
2 |
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Retained earnings |
76,246 |
47,542 |
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Shareholders' funds |
76,248 |
47,544 |
For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
OD Pictures Ltd
Statement of Financial Position as at 31 March 2025
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.
Approved and authorised by the
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Mr O Deeks
Director
Company registration number: 09477162
OD Pictures Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
The principal activity of the company is that of the provision of camera services and the production of motion pictures.
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Accounting policies |
Statement of compliance
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' Section 1A and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.
Summary of significant accounting policies
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.
Going concern
The company made a profit for the year ended 31 March 2025 and had net assets of £76,248 at that date.
The company's services have remained in demand subsequent to 31 March 2025 and the company continues to trade profitably.
After making enquiries, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the director continues to adopt the going concern basis in preparing the financial statements.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company's activities and is shown net of sales/value added tax, returns, rebates and discounts.
Revenue is recognised based on the contractual stage of completion of the services provided.
OD Pictures Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025
Foreign currency transactions and balances
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a charge 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.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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.
Fixed Assets
Fixed assets are stated in the statement of financial position at cost less accumulated depreciation and accumulated impairment losses.
The cost of plant and machinery includes directly attributable incremental costs incurred in their acquisition and installation.
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:
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Asset class |
Depreciation method and rate |
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Plant and equipment |
5 years straight line |
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Motor vehicles |
4 years straight line |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
OD Pictures Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025
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 income statement 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.
Finance leases and hire purchase
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Statement of Financial Position as a finance lease obligation.
Lease payments are apportioned between finance costs in the Income Statement and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
Assets held under hire purchase contracts are capitalised at the lesser of fair value or present value of minimum lease payments in the statement of financial position. The present value of the minimum lease payments is calculated using the interest rate implicit in the lease. A corresponding liability is recognised at the same value in the statement of financial position. The asset is then depreciated over its useful life.
The minimum lease payments are apportioned between the finance charge recognised in the income statement and the reduction of the outstanding liability using the effective interest method. The finance charge in each period is allocated so as to produce a constant periodic rate of interest on the remaining balance of the liability.
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.
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Staff numbers |
The average number of persons employed by the company during the year, was
OD Pictures Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025
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Profit before tax |
Arrived at after charging/(crediting)
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2025 |
2024 |
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Depreciation expense |
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Tangible fixed assets |
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Motor vehicles |
Plant and equipment |
Total |
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Cost or valuation |
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At 1 April 2024 |
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Additions |
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Disposals |
- |
( |
( |
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At 31 March 2025 |
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Depreciation |
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At 1 April 2024 |
- |
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Charge for the year |
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At 31 March 2025 |
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Carrying amount |
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At 31 March 2025 |
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At 31 March 2024 |
- |
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OD Pictures Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025
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Debtors |
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2025 |
2024 |
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Trade debtors |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
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Note |
2025 |
2024 |
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Loans and borrowings |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Creditors: amounts falling due after more than one year
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Note |
2025 |
2024 |
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Loans and borrowings |
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OD Pictures Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025
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Loans and borrowings |
Current loans and borrowings
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2025 |
2024 |
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Bank loans |
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Hire purchase obligations |
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- |
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Non-current loans and borrowings
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2025 |
2024 |
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Bank loans |
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Hire purchase obligations |
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- |
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Obligations under hire purchase agreements are secured on the assets involved.
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Transactions with directors |
At 31 March 2025 an amount of £69,893 (2024: £83,346) was due from the director. During the year advances of £132,218 and repayments of £147,995 were made. Interest of £2,324 (2024: £1,499) is payable to the company at 2.25% p.a. There are no fixed terms.