Westend Films Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 06481717

Westend Films Limited

Filleted Unaudited Financial Statements

31 December 2024

Westend Films Limited

Statement of Financial Position

31 December 2024

	2024		2023
Note	£	£	£

Fixed assets

Intangible assets	5	757,000	851,625
Tangible assets	6	1	1
Investments	7	101	101
		---------	---------
		757,102	851,727

Current assets

Stocks		260,905	610,366
Debtors	8	271,864	703,948
Cash at bank and in hand		1,208,283	955,608
		------------	------------
		1,741,052	2,269,922

Creditors: amounts falling due within one year	9	839,955		1,480,253
		------------		------------
Net current assets			901,097	789,669
			------------	------------
Total assets less current liabilities			1,658,199	1,641,396
			------------	------------
Net assets			1,658,199	1,641,396
			------------	------------

Capital and reserves

Called up share capital	4,859	4,859
Share premium account	1,004,268	1,004,268
Profit and loss account	649,072	632,269
	------------	------------
Shareholders funds	1,658,199	1,641,396
	------------	------------

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 comprehensive income 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.

Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Westend Films Limited

Statement of Financial Position (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 27 November 2025 , and are signed on behalf of the board by:

M Amsellem

Director

Company registration number: 06481717

Westend Films 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 99 Kenton Road, Harrow, Middlesex HA3 0AN. The company's registered number is 06481717 .

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 and are prepared in UK Sterling, which is the functional and presentation currency of the company.

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.

Judgements and key sources of estimation uncertainty

In the application of the Company's accounting policies, management are required to make judgements, estimates and assumptions about the carrying amounts 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 estimates. The following summarises the judgements, estimates and assumptions that may cause amounts recognised or or disclosed to change in following reporting periods: Intangible assets The amortisation policy for intangible assets in relation to film rights is based on management's experience of the length of time for which the rights will generate future income. Because of the inherent uncertainty, these estimated values may differ significantly from the values that would have been used had a ready market for the film rights existed, and it is reasonably possible that the difference could be material. Furthermore, there is no assurance that, upon liquidation, the Company will realise the values presented herein.

Revenue recognition

The turnover shown in the profit and loss account represents commissions and recovery of expenses earned on transactions as an agent and amounts invoiced for other services during the year exclusive of Value Added Tax.

Taxation

Current tax is provided for at amounts expected to be paid using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. The taxation expense may also include amounts receivable or payable from or to fellow subsidiary or parent company in lieu of tax losses surrendered or claimed.

Foreign currencies

Assets and liabilities in foreign currencies are translated into UK Sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into UK Sterling at the rate of exchange ruling at the beginning of the month of the transaction. Exchange differences are taken into account in arriving at the operating profit.

Intangible assets

Intangible assets which are the Film Rights, acquired as part of a business combination are recorded at the fair value at the acquisition date. Film Rights are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Film Rights	-	5% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

The tangible asset is stated at cost less accumulated depreciation and any provisions for impairment

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:

	Office Equipment	-	33% straight line

Investments

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

Stock

Stock represents recoverable expenses from the distribution of films and are valued at lower of cost or net realisable value. Where it is evident that the expense will not be recouped, provision will be made.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. All financial instruments are initially measured at fair value, which generally equates to acquisition cost and are subsequently measured at amortised cost using the effective interest rate method. Trade and other debtors are recognised and carried at invoiced amounts less provisions for any doubtful debts, if any. Bad debts, if any, are written off when identified. Cash and cash equivalents are included in the balance sheet at cost. Cash and cash equivalents comprise cash at bank and in hand and short term deposits with an original maturity of three months or less.

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.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 3 (2023: 3 ).

5. Intangible assets

	Film Rights
	£
Cost
At 1 January 2024 and 31 December 2024	1,892,500
	------------
Amortisation
At 1 January 2024	1,040,875
Charge for the year	94,625
	------------
At 31 December 2024	1,135,500
	------------
Carrying amount
At 31 December 2024	757,000
	------------
At 31 December 2023	851,625
	------------

The directors of the company believe the Film Rights are to be amortised over 20 years since initial recognition on the basis that the value was evaluated on 20 years projections.

6. Tangible assets

	Equipment
	£
Cost
At 1 January 2024 and 31 December 2024	3,224
	-------
Depreciation
At 1 January 2024 and 31 December 2024	3,223
	-------
Carrying amount
At 31 December 2024	1
	-------
At 31 December 2023	1
	-------

7. Investments

	Shares in group undertakings
	£
Cost
At 1 January 2024 and 31 December 2024	101
	----
Impairment
At 1 January 2024 and 31 December 2024	–
	----

Carrying amount
At 31 December 2024	101
	----
At 31 December 2023	101
	----

8. Debtors

	2024	2023
	£	£
Trade debtors	900	5,100
Amounts owed by group undertakings and undertakings in which the company has a participating interest	1,080	1,698
Other debtors	269,884	697,150
	---------	---------
	271,864	703,948
	---------	---------

The amounts owed by group undertakings are unsecured, interest free, and repayable on demand.

9. Creditors: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	798,009	1,319,830
Amounts owed to group undertakings and undertakings in which the company has a participating interest	–	8,118
Corporation tax	300	–
Social security and other taxes	18,485	128,225
Other creditors	–	1,080
Other creditors	23,161	23,000
	---------	------------
	839,955	1,480,253
	---------	------------

The amounts owed to group undertakings are unsecured, interest free, and repayable on demand.

10. Charges

Lonely Dragon Limited, 1010 Holdings LLC, Magnolia Mae Films LLC, The British Film Institute, British Broadcasting Corporation, Nottinghill Films Limited, UK Film Council and Film4, a Division of Channel Four Television Corporation hold a charge over the company's rights title and interest in certain films and sound recordings. The charges are restricted on income arising only from certain specific individual film titles.

11. Directors' advances, credits and guarantees

During the previous year the company advanced a loan of £70,000 on which interest of £1,528 was charged to one of the directors. Further interest of £1,182 was charged during the year and the full amount of the loan was repaid together with interest and the amount outstanding at the balance sheet date was £NIL (2023: £71,528)

12. Related party transactions

The company has taken advantage of the exemption conferred by FRS 102 from disclosing details of transactions with other wholly owned group companies. The company received commission and other revenue of £2,763 (2023: £2,947) from entities in which there are common directors. At the balance sheet date, included within debtors is £NIL (2023: £1,698) due from related party. Included within creditors is £1,080 (2023: £8,118) due to the related party.

13. Controlling party

The company was not under the control of a single party throughout the current year and previous year.