Blue Water Films Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 08000718 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

BLUE WATER FILMS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr J S Foote

REGISTERED OFFICE:

Eden House

Two Rivers Business Park

Witney

Oxfordshire

OX28 4BL

REGISTERED NUMBER:

08000718 (England and Wales)

ACCOUNTANTS:

Bronsens

Chartered Certified Accountants

Eden House

Two Rivers Business Park

Witney

Oxfordshire

OX28 4BL

FIXED ASSETS

Intangible assets

4

-

Tangible assets

5

9,489

18,015

9,489

18,015

CURRENT ASSETS

Debtors

6

1,214

4,582

Cash at bank

1,403

2,067

2,617

6,649

CREDITORS

Amounts falling due within one year

7

34,162

28,140

NET CURRENT LIABILITIES

(31,545

)

(21,491

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(22,056

)

(3,476

)

CREDITORS

Amounts falling due after more than one
year

8

(918

)

(629

)

PROVISIONS FOR LIABILITIES

9

(1,741

)

(3,347

)

NET LIABILITIES

(24,715

)

(7,452

)

CAPITAL AND RESERVES

Called up share capital

10

Retained earnings

(24,725

)

(7,462

)

SHAREHOLDERS' FUNDS

(24,715

)

(7,452

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 11 December 2025 and were signed by:

Mr J S Foote - Director

1.	STATUTORY INFORMATION

Blue Water Films Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The company meets its day to day working capital requirements through the bank facility and funds from the director. The company expects to be able to operate within these parameters. On this basis the director considers it appropriate to prepare the financial statements on the going concern basis. The director has confirmed that he will continue to introduce funds to the company in order to settle debts as and when required.

Turnover

Turnover represents net invoiced sales of goods and services, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Camera equipment

-

20% on cost

Computer equipment

-

33% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2024 - 1 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

and 31 March 2025

10,000

AMORTISATION

At 1 April 2024

and 31 March 2025

10,000

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

-

5.	TANGIBLE FIXED ASSETS

Camera

Computer

equipment

Totals

£

COST

At 1 April 2024

61,192

7,109

68,301

Additions

1,620

-

1,620

Disposals

(20,784

)

-

(20,784

)

At 31 March 2025

42,028

7,109

49,137

DEPRECIATION

At 1 April 2024

43,626

6,660

50,286

Charge for year

8,405

435

8,840

Eliminated on disposal

(19,478

)

-

(19,478

)

At 31 March 2025

32,553

7,095

39,648

NET BOOK VALUE

At 31 March 2025

9,475

14

9,489

At 31 March 2024

17,566

449

18,015

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:

Camera

equipment

£

COST

At 1 April 2024

11,270

Transfer to ownership

(11,270

)

At 31 March 2025

-

DEPRECIATION

At 1 April 2024

9,016

Transfer to ownership

(9,016

)

At 31 March 2025

-

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

2,254

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

Other debtors

120

Directors' current accounts

-

2,983

Tax

-

273

VAT

571

347

Prepayments

523

859

1,214

4,582

The directors loan account balance of £2,983 on 31 March 2024 was repaid to the company in full by 31 July 2024.

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

Bank loans and overdrafts

4,259

7,958

Trade creditors

435

863

Tax

-

1,381

Social security and other taxes

38

36

Other creditors

13,305

15,533

Directors' current accounts

14,152

-

Accrued expenses

1,973

2,369

34,162

28,140

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

31.3.25

31.3.24

£

Bank loans - 1-2 years

918

629

9.	PROVISIONS FOR LIABILITIES

31.3.25

31.3.24

£

Deferred tax

Accelerated capital allowances

1,741

3,347

Deferred

tax

£

Balance at 1 April 2024

3,347

Utilised during year

(1,606

)

Balance at 31 March 2025

1,741

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.25

31.3.24

value:

£

10

Ordinary

£1

10