Filmistan Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 07210996

Filmistan Limited

Filleted Unaudited Financial Statements

31 December 2024

Filmistan Limited

Balance Sheet

31 December 2024

	2024		2023
Note	£	£	£

Fixed assets

Tangible assets	5	4,715	1,412
Investments	6	116,671	37,280
		---------	--------
		121,386	38,692

Current assets

Closing WIP	46,131	–
Cash at bank and in hand	1,397	15,001
	--------	--------
	47,528	15,001

Creditors: amounts falling due within one year	7	( 307,768)		( 150,207)
		---------		---------
Net current liabilities			( 260,240)	( 135,206)
			---------	---------
Total assets less current liabilities			( 138,854)	( 96,514)

Provisions

Taxation including deferred tax	24,600	16,937
	---------	--------
Net liabilities	( 114,254)	( 79,577)
	---------	--------

Capital and reserves

Called up share capital	1	1
Profit and loss account	( 114,255)	( 79,578)
	---------	--------
Shareholders deficit	( 114,254)	( 79,577)
	---------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

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

- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Filmistan Limited

Balance Sheet (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 25 September 2025 , and are signed on behalf of the board by:

Mrs S Narula
Director

Company registration number: 07210996

Filmistan Limited

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Hyver Hall, Barnet Gate, Arkley, Hertfordshire, EN5 3JA.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis as the director consider that there are no material uncertainties that may cast significant doubt about the company’s ability to continue as a going concern. The director will continue to support the company in the foreseeable future.

Consolidation

The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Equipment	-	25% reducing balance

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Investments in associates

Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.

Investments in joint ventures

Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.

Work in progress

Work in progress is valued on the basis of direct costs plus attributable overheads based on normal production activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the balance sheet and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

Debtors

Basic financial assets, including trade and other debtors, are initially recognised at transaction price, 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. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents

Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors

Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, 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. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2023: 1 ).

5. Tangible assets

	Equipment	Total
	£	£
Cost
At 1 January 2024	5,689	5,689
Additions	4,877	4,877
	--------	--------
At 31 December 2024	10,566	10,566
	--------	--------
Depreciation
At 1 January 2024	4,277	4,277
Charge for the year	1,574	1,574
	--------	--------
At 31 December 2024	5,851	5,851
	--------	--------
Carrying amount
At 31 December 2024	4,715	4,715
	--------	--------
At 31 December 2023	1,412	1,412
	--------	--------

6. Investments

	Shares in group undertakings	Loans to group undertakings	Total
	£	£	£
Cost
At 1 January 2024	100	37,180	37,280
Additions	100	110,967	111,067
Disposals	–	( 31,676)	(31,676)
	----	---------	---------
At 31 December 2024	200	116,471	116,671
	----	---------	---------
Impairment
At 1 January 2024 and 31 December 2024	–	–	–
	----	---------	---------

Carrying amount
At 31 December 2024	200	116,471	116,671
	----	---------	---------
At 31 December 2023	100	37,180	37,280
	----	---------	---------

7. Creditors: amounts falling due within one year

	2024	2023
	£	£
Accruals and deferred income	4,578	947
Social security and other taxes	660	–
Director loan accounts	302,412	149,260
Other creditors	118	–
	---------	---------
	307,768	150,207
	---------	---------

8. Deferred tax

The deferred tax included in the balance sheet is as follows:

	2024	2023
	£	£
Included in provisions	( 24,600)	( 16,937)
	--------	--------

The deferred tax account consists of the tax effect of timing differences in respect of:

	2024	2023
	£	£
Unused tax losses	( 24,600)	( 16,937)
	--------	--------

9. Related party transactions

1. During the period, the director expended £153,152 ( 2023: £38,200) on behalf of the company. The balance due to the director at the balance sheet date was £302,412 (2023: £149,260). This loan is interest-free and has no fixed repayment term. 2. During the period the company made an interest free loan, repayable on demand, of £110,967 (2023: £37,180) to a group company of which £31,676 was repaid during the year. At the balance sheet date an amount of £116,471 (2023: £37,180) was repayable from the group company.