Registration number: 07131822

Interval Films Ltd

Contents

Abridged Statement of Financial Position	1 to 2
Notes to the Unaudited Abridged Financial Statements	3 to 9

Interval Films Ltd

(Registration number: 07131822)
Abridged Statement of Financial Position as at 31 January 2025

	Note	2025 £		2024 £
Fixed assets
Intangible assets	4		47,591		62,540
Tangible assets	5		348,378		379,180
			395,969		441,720
Current assets
Debtors	6	74,190		47,560
Cash at bank and in hand		111,276		90,202
		185,466		137,762
Prepayments and accrued income		4,790		17,929
Creditors: Amounts falling due within one year	7.1	(116,155)		(98,261)
Net current assets			74,101		57,430
Total assets less current liabilities			470,070		499,150
Creditors: Amounts falling due after more than one year	7.2		(97,454)		(110,833)
Provisions for liabilities			(48,204)		(42,487)
Accruals and deferred income			(34,695)		(48,137)
Net assets			289,717		297,693
Capital and reserves
Called up share capital	8	10		10
Retained earnings		289,707		297,683
Shareholders' funds			289,717		297,693

Interval Films Ltd

(Registration number: 07131822)
Abridged Statement of Financial Position as at 31 January 2025

For the financial year ending 31 January 2025 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 accounts for the year in question in accordance with section 476; and
•	The director acknowledges his 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.

All of the company’s members have consented to the preparation of an Abridged Statement of Financial Position in accordance with Section 444(2A) 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 director has not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the director on 31 October 2025
 

......................................... Mr O G C Larkin Director

Interval Films Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2025

1	General information

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

The address of its registered office is:
Unit 1.11 Paintworks
Arnos Vale
Bristol
BS4 3EH
England

These financial statements were authorised for issue by the director on 31 October 2025.

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 abridged financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 Section 1A smaller entities 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' ('FRS 102') and the Companies Act 2006.

The presentation currency is (£) sterling.

Basis of preparation

These abridged 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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

Interval Films Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2025

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

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 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.

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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used.

Current and deferred tax assets and liabilities are not discounted.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Tangible assets

Tangible assets are stated in the statement of financial position 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.

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
Freehold property & improvements	0%
Plant & machinery	25% reducing balance basis
Furniture, fittings & equipment	25% reducing balance basis

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Website costs	33% straight line

Interval Films Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2025

Capitalised R&D development costs

Reducing balance basis over 5 years, starting once developed assets come into use.

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.

Trade debtors

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

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.

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.

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.

Leases

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.

Interval Films Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2025

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.

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.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an 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.
 

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 5 (2024 - 6).

Interval Films Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2025

4	Intangible assets

	Total £
Cost or valuation
At 1 February 2024	109,448
Additions acquired separately	7,414
At 31 January 2025	116,862
Amortisation
At 1 February 2024	46,908
Amortisation charge	22,363
At 31 January 2025	69,271
Carrying amount
At 31 January 2025	47,591
At 31 January 2024	62,540

5	Tangible assets

	Freehold Property & improvements £	Furniture, fittings and equipment  £	Motor vehicles  £	Total £
Cost or valuation
At 1 February 2024	155,562	523,256	120,536	799,354
Additions	-	23,299	10,171	33,470
At 31 January 2025	155,562	546,555	130,707	832,824
Depreciation
At 1 February 2024	-	369,080	51,094	420,174
Charge for the year	-	44,369	19,903	64,272
At 31 January 2025	-	413,449	70,997	484,446
Carrying amount
At 31 January 2025	155,562	133,106	59,710	348,378
At 31 January 2024	155,562	154,176	69,442	379,180

Included within the net book value of land and buildings above is £155,562 (2024 - £155,562) in respect of freehold land and buildings.
 

Interval Films Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2025

6

Debtors

	2025 £	2024 £
Trade debtors	74,190	47,560
	74,190	47,560

7

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Bank loans and overdrafts		29,440	29,021
Trade creditors		3,109	10,440
Taxation and social security		70,070	30,329
Other creditors		13,536	28,471
		116,155	98,261

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £29,440 (2024: £29,021).

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings		97,454	110,833

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £79,648 (2024: £109,088).

A legal mortgage charge dated 18th March 2016 exists with Yvonne Larkin which is secured by a 'all assets debenture'.

Interval Films Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2025

8	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary of £1 each	10	10	10	10