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Registered number: NI615555
Fine Point Films Ltd
Unaudited Financial Statements
For The Year Ended 31 May 2024
Allen Fleming CA Limited
Chartered Accountants & Chartered Tax Advisors
161-163 Upper Lisburn Road
Finaghy
Belfast
BT10 0LJ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: NI615555
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 17,425 21,222
Investments 5 25,000 25,000
42,425 46,222
CURRENT ASSETS
Debtors 6 658,124 624,493
Cash at bank and in hand 178,789 209,876
836,913 834,369
Creditors: Amounts Falling Due Within One Year 7 (1,209,322 ) (805,750 )
NET CURRENT ASSETS (LIABILITIES) (372,409 ) 28,619
TOTAL ASSETS LESS CURRENT LIABILITIES (329,984 ) 74,841
Creditors: Amounts Falling Due After More Than One Year 8 (26,091 ) (35,769 )
NET (LIABILITIES)/ASSETS (356,075 ) 39,072
CAPITAL AND RESERVES
Called up share capital 9 12 12
Profit and Loss Account (356,087 ) 39,060
SHAREHOLDERS' FUNDS (356,075) 39,072
Page 1
Page 2
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
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 Trevor Birney
Director
31 October 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Fine Point Films Ltd is a private company, limited by shares, incorporated in Northern Ireland, registered number NI615555 . The registered office is 2nd Floor Callender House, Upper Arthur Street, Belfast, BT1 4GJ.
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.
2.2. Turnover
Turnover comprises the invoiced value of services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 25% on cost
2.4. 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 year 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 asset reflects 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 or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 14 (2023: 9)
14 9
Page 3
Page 4
4. Tangible Assets
Fixtures & Fittings
£
Cost
As at 1 June 2023 55,382
Additions 899
As at 31 May 2024 56,281
Depreciation
As at 1 June 2023 34,160
Provided during the period 4,696
As at 31 May 2024 38,856
Net Book Value
As at 31 May 2024 17,425
As at 1 June 2023 21,222
5. Investments
Other
£
Cost
As at 1 June 2023 25,000
As at 31 May 2024 25,000
Provision
As at 1 June 2023 -
As at 31 May 2024 -
Net Book Value
As at 31 May 2024 25,000
As at 1 June 2023 25,000
Page 4
Page 5
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 1,800 6,230
Prepayments and accrued income 11,445 50,107
Other debtors 640,365 -
VAT 4,514 -
Amounts owed by group undertakings - 568,156
658,124 624,493
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 129,825 95,430
Corporation tax 111 27,986
Other taxes and social security 11,264 7,957
VAT - 33,318
Other creditors 72,945 374,585
Accruals and deferred income 406,603 129,411
Amounts owed to associates 588,574 137,063
1,209,322 805,750
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 26,091 35,769
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 12 12
Page 5