Acorah Software Products - Accounts Production 16.5.460 false true true false 19 September 2025 13 September 2023 31 December 2024 31 December 2024 15135257 Mr Neal Harmon Mr Patrick Reilly Mr Michael Willardson Mr Paul Beare true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 15135257 2023-09-12 15135257 2024-12-31 15135257 2023-09-13 2024-12-31 15135257 frs-core:CurrentFinancialInstruments 2024-12-31 15135257 frs-core:ShareCapital 2024-12-31 15135257 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 15135257 frs-bus:PrivateLimitedCompanyLtd 2023-09-13 2024-12-31 15135257 frs-bus:FilletedAccounts 2023-09-13 2024-12-31 15135257 frs-bus:SmallEntities 2023-09-13 2024-12-31 15135257 frs-bus:Audited 2023-09-13 2024-12-31 15135257 frs-bus:SmallCompaniesRegimeForAccounts 2023-09-13 2024-12-31 15135257 1 2023-09-13 2024-12-31 15135257 frs-bus:Director1 2023-09-13 2024-12-31 15135257 frs-bus:Director2 2023-09-13 2024-12-31 15135257 frs-bus:Director3 2023-09-13 2024-12-31 15135257 frs-bus:CompanySecretary1 2023-09-13 2024-12-31 15135257 frs-countries:EnglandWales 2023-09-13 2024-12-31 15135257 frs-countries:UnitedStates 2023-09-13 2024-12-31
Registered number: 15135257
Angel Studios Distribution Limited
Financial Statements
For the Period 13 September 2023 to 31 December 2024
Paul Beare Ltd
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—4
Page 1
Balance Sheet
Registered number: 15135257
31 December 2024
Notes £ £
CURRENT ASSETS
Cash at bank and in hand 52,915
52,915
Creditors: Amounts Falling Due Within One Year 5 (392,946 )
NET CURRENT ASSETS (LIABILITIES) (340,031 )
TOTAL ASSETS LESS CURRENT LIABILITIES (340,031 )
NET LIABILITIES (340,031 )
CAPITAL AND RESERVES
Called up share capital 6 100
Profit and Loss Account (340,131 )
SHAREHOLDERS' FUNDS (340,031)
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 Michael Willardson
Director
19/09/2025
The notes on pages 2 to 4 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Angel Studios Distribution Limited is a private company, limited by shares, incorporated in England & Wales, registered number 15135257 . The registered office is 49 Greek Street, London, W1D 4EG.
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.
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.
2.2. Going Concern Disclosure
These financial statements show a net liabilities position of £340,031 at the balance sheet date.
The company has reviewed its funding requirements and with the continued support of its parent company the company will be able to meet its liabilities and obligations as they fall due.
Based on the above assurances, these financial statements are prepared on the going concern basis. The directors have a reasonable expectation that the company will continue in operational existence for the foreseeable future.
2.3. Significant judgements and estimations
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.
There are no key estimates or judgement uncertainties in the financial statements for the period ended 31 December 2024.
2.4. Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.
2.5. 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 balance sheet 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.
Basic financial assets, which include debtors and cash and bank balances, 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.
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2.6. 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 period, 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.
3. Average Number of Employees
Average number of employees, including directors, during the period was: 3
3
5. Creditors: Amounts Falling Due Within One Year
31 December 2024
£
Amounts owed to group undertakings 381,246
Other creditors 11,700
392,946
6. Share Capital
31 December 2024
£
Allotted, Called up and fully paid 100
On incorporation 100 ordinary £1 shares were issued and fully paid.
7. Related Party Disclosures
The company has taken advantage of exemption, under 33.1A of the Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland", not to disclose transactions with wholly owned subsidiaries within the group.
8. Controlling Parties
The company's immediate parent undertaking is Angel Studios Inc .
The ultimate parent undertaking is (incorporated in United States). Its registered office is 295 W Center Street, Provo, Utah, 84601 .
Copies of the group accounts may be obtained from the company's registered office.
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9. Audit Information
The auditor's report on the accounts of Angel Studios Distribution Limited for the period ended 31 December 2024 was unqualified.
The auditor's report was signed by Andrew Davis ACCA CTA FMAAT (Senior Statutory Auditor) for and on behalf of AMS Audit Limited , Statutory Auditor.
AMS Audit Limited
1 Hardman Street
Spinningfields
Manchester
M3 3HF
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