Film Plug Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: SC714881

Film Plug Ltd

Filleted Unaudited Financial Statements

31 December 2024

Film Plug Ltd

Financial Statements

Year ended 31 December 2024

Contents	Page

Chartered accountants report to the director on the preparation of the unaudited statutory financial statements	1

Statement of financial position	2

Notes to the financial statements	3

Film Plug Ltd

Chartered Accountants Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of Film Plug Ltd

Year ended 31 December 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Film Plug Ltd for the year ended 31 December 2024, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at www.icas.com/accountspreparationguidance. This report is made solely to the director of Film Plug Ltd. Our work has been undertaken solely to prepare for your approval the financial statements of Film Plug Ltd and state those matters that we have agreed to state to you in this report in accordance with the requirements of ICAS as detailed at www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Film Plug Ltd and its director for our work or for this report.

It is your duty to ensure that Film Plug Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Film Plug Ltd. You consider that Film Plug Ltd is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of Film Plug Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

GILLILAND & COMPANY Chartered Accountants

216 West George Street Glasgow G2 2PQ

4 December 2025

Film Plug Ltd

Statement of Financial Position

31 December 2024

	2024		2023
Note	£	£	£

Fixed assets

Tangible assets	4		1,072	811

Current assets

Debtors	5	5,017	4,967
Cash at bank and in hand		295	1
		-------	-------
		5,312	4,968

Creditors: amounts falling due within one year	6	6,148		4,367
		-------		-------
Net current (liabilities)/assets			( 836)	601
			-------	-------
Total assets less current liabilities			236	1,412
			----	-------
Net assets			236	1,412
			----	-------

Capital and reserves

Called up share capital	1	1
Profit and loss account	235	1,411
	----	-------
Shareholders funds	236	1,412
	----	-------

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 his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 4 December 2025 , and are signed on behalf of the board by:

Mr S Gillespie
Director

Company registration number: SC714881

Film Plug Ltd

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in Scotland. The address of the registered office is 216 West George Street, Glasgow, G2 2PQ, Scotland.

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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are 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 of value

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

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. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

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:

	Plant and machinery	-	33% straight line

4. Tangible assets

	Plant and machinery
	£
Cost
At 1 January 2024	1,382
Additions	1,082
	-------
At 31 December 2024	2,464
	-------
Depreciation
At 1 January 2024	571
Charge for the year	821
	-------
At 31 December 2024	1,392
	-------
Carrying amount
At 31 December 2024	1,072
	-------
At 31 December 2023	811
	-------

5. Debtors

	2024	2023
	£	£
Trade debtors	4,200	360
Director's loan account	817	4,561
Other debtors	–	46
	-------	-------
	5,017	4,967
	-------	-------

6. Creditors: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	179	1,919
Accruals and deferred income	850	800
Corporation tax	3,407	1,648
Social security and other taxes	1,712	–
	-------	-------
	6,148	4,367
	-------	-------

7. Director's advances, credits and guarantees

At the period end, £817 was payable by the director to the company (2023: £4,561). During the year, £10,000 was repaid by the director and £7,256 advanced to the director. The loan is interest free, unsecured and repayable on demand.

8. Controlling party

The company was under the control of Mr S Gillespie , director and shareholder throughout the current period.