Registration number: 06660497

Glendale Picture Company Ltd

Contents

Company Information	1
Statement of Financial Position	2
Notes to the Financial Statements	3 to 6

Glendale Picture Company Ltd

Company Information

Director

T R Goligher

Registered office

130 Shaftesbury Avenue 2nd Floor London W1D 5EU

Accountants

Brebners Chartered Accountants 130 Shaftesbury Avenue London W1D 5AR

Glendale Picture Company Ltd

Statement of Financial Position as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	-	157
Current assets
Debtors	5	152,456	107,897
Cash at bank and in hand		5,799	9,688
		158,255	117,585
Creditors: Amounts falling due within one year	6	(80,082)	(44,873)
Net current assets		78,173	72,712
Net assets		78,173	72,869
Capital and reserves
Called up share capital		1	1
Retained earnings		78,172	72,868
Shareholders' funds		78,173	72,869

For the financial year ending 31 March 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 provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

The director has elected not to include a copy of the Income Statement within the financial statements, in accordance with the special provisions relating to companies subject to the small companies regime within the Companies Act 2006, section 444.

Approved and authorised by the director on 28 November 2025
 

.........................................

T R Goligher

Director

Company registration number: 06660497

Glendale Picture Company Ltd

Notes to the Financial Statements for the Year Ended 31 March 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:
130 Shaftesbury Avenue
2nd Floor
London
W1D 5EU

The principal activity of the company is that of film production, training and development services.

2	Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' Section 1A and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention and are presented in sterling, which is the functional currency of the entity.

Going concern

The company made a profit for the year ended 31 March 2025 and had net assets at that date amounting to £78,173.

The director has considered the current economic uncertainty and the director's view is that the impact on the company will be manageable as the upcoming trading outlook is promising. The director therefore believes that the company will continue to generate sufficient working capital to meet its liabilities as they fall due.

On the basis of above and after making enquiries, the director has a reasonable expectation that the company has adequate resources to continue in existence for the foreseeable future. Accordingly, the director continues to adopt the going concern basis in preparing the financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company's activities. Turnover is shown net of value added tax.

In respect of long-term contracts and contracts for ongoing services, turnover represents the value of work done in the year, including an estimate of amounts not invoiced. Turnover in respect of long-term contracts and contracts for ongoing services is recognised by reference to the stage of completion.

The company also receives contributions from third parties towards development costs of future film production. Revenue of this nature is recognised in the period in which all conditions in respect of the contributions have been met, in accordance with the agreement between the entities.

Glendale Picture Company Ltd

Notes to the Financial Statements for the Year Ended 31 March 2025

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a charge 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.

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 over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Furniture, fittings and equipment	3 years straight line

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.

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.

Glendale Picture Company Ltd

Notes to the Financial Statements for the Year Ended 31 March 2025

3	Staff numbers

The average number of persons employed by the company during the year, was 1 (2024 - 1).

4	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 April 2024	7,576	7,576
At 31 March 2025	7,576	7,576
Depreciation
At 1 April 2024	7,419	7,419
Charge for the year	157	157
At 31 March 2025	7,576	7,576
Carrying amount
At 31 March 2025	-	-
At 31 March 2024	157	157

5

Debtors

	2025 £	2024 £
Other debtors	152,456	107,897
	152,456	107,897

Glendale Picture Company Ltd

Notes to the Financial Statements for the Year Ended 31 March 2025

6

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £
Trade creditors	4,840	-
Taxation and social security	69,992	39,373
Accruals and deferred income	5,250	5,500
	80,082	44,873