Green Inc Film & Television Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: NI040344

Green Inc Film & Television Ltd

Filleted Unaudited Financial Statements

31 March 2025

Green Inc Film & Television Ltd

Statement of Financial Position

31 March 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	5	9,577	13,541
Investments	6	91	91
		-------	--------
		9,668	13,632

Current assets

Stocks		2,000	2,000
Debtors	7	263,789	249,248
Cash at bank and in hand		369,923	110,014
		---------	---------
		635,712	361,262

Creditors: amounts falling due within one year	8	359,281		169,506
		---------		---------
Net current assets			276,431	191,756
			---------	---------
Total assets less current liabilities			286,099	205,388

Provisions

Taxation including deferred tax	( 1,546)	( 852)
	---------	---------
Net assets	287,645	206,240
	---------	---------

Capital and reserves

Called up share capital	43	43
Capital redemption reserve	57	57
Profit and loss account	287,545	206,140
	---------	---------
Shareholders funds	287,645	206,240
	---------	---------

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 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 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 .

Green Inc Film & Television Ltd

Statement of Financial Position (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 24 December 2025 , and are signed on behalf of the board by:

Mr S Stewart
Director

Company registration number: NI040344

Green Inc Film & Television Ltd

Notes to the Financial Statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is 157-159 High Street, Holywood, Co. Down, BT18 9HU, Northern Ireland.

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.

Development expenditure

Pre contract development expenditure is written off in the period in which it is incurred except where it relates to a clearly defined project, the outcome of which has been assessed with reasonable certainty as to its success and commercial viability. In such cases, the expenditure is deferred to the extent that its recovery can be reasonably regarded as assured and the cost is written off against revenue in the period in which the programme revenue is recognised.

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

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Key sources of estimation uncertainty Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows: Revenue recognition The timing of revenue depends on the assessed stage of completion of service activity at the balance sheet date. Where revenues do not arise until the occurrence of a specified future event or outcome which is outside the control of the company, revenue is not recognised until that event occurs. Depreciation The company's statement of financial position reflects a tangible fixed asset class which is subject to depreciation. Depreciation rates are based upon the expected economic lives of the related tangible fixed assets. Any variation in the useful economic lives of the asset class will have an impact on the balance sheet and financial position of the company. The useful economic lives of tangible fixed assets are uncertain and, therefore, the actual economic life of an asset may be shorter or longer than expected. There have been no significant revisions to the estimated lives during the current financial year. Bad debts The company assesses whether there is objective evidence of impairment of any financial assets that are measured at cost or amortised cost - these include trade debtors. If there is objective evidence of impairment, the company recognises a bad debt in its statement of income immediately. However, it in making that assessment, events may subsequently occur which could indicate that a trade debtor has become impaired, or a previously impaired debt has become recoverable.

Revenue recognition

Turnover, excluding value added tax and discounts, comprises sales to third parties. The companies commissioning productions are invoiced in accordance with the contracted stage payments due as the production progresses. These are accounted for as received in the accounting period when invoiced. Long term contracts are included in the turnover on the basis of sales value of work performed during the year by reference to the total sales value and stage of completion of such contracts.

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. Full provision for deferred tax assets and liabilities is provided at average tax rates that are expected to apply in the periods in which the timing differences are expected to reverse. Deferred tax is provided for based on tax rates and laws that have been enacted or substantially enacted by the balance sheet date, on differences that arise between the recognition of gains and losses in the financial statements and their recognition in the tax computation. Differences arising on the revaluation of of fixed assets (if no commitment to sell), or gains on any asset sold that will benefit from rollover relief are not provided for. Deferred tax is measured on a non discounted basis.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Tangible assets

All fixed assets are initially recorded at historic cost.

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:

Property alterations	-	20% straight line
Fixtures and fittings	-	20% straight line
Motor vehicles	-	30% reducing balance
Equipment	-	25% reducing balance

The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.

Investments

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

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition. Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress. In the case of long term contracts, revenues and profits are computed based upon the directors best estimate of the degree of completion of the production, profits being determined after making provision against all anticipated costs. Long term contract balances included in stocks comprise costs incurred on long term contracts, net of amounts transferred to cost of sales, after deducting foreseeable losses and related payments on account. Costs include all direct production and development costs incurred in bringing a contract to its state of completion at the year end. Provisions for estimated losses on contracts are made in the period in which such losses are foreseen. Long term contract balances do not include attributable profit. The excess of payments received over amounts recorded as turnover is classified under creditors due within one year. Amounts recoverable on contracts, being the amount by which recorded turnover is in excess of payments on account, is classified under debtors. Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship (see hedge accounting policy). Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

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 9 (2024: 7 ).

5. Tangible assets

	Freehold property	Fixtures and fittings	Motor vehicles	Equipment	Total
	£	£	£	£	£
Cost
At 1 April 2024 and 31 March 2025	31,140	14,018	16,500	68,185	129,843
	--------	--------	--------	--------	---------
Depreciation
At 1 April 2024	31,140	14,018	4,920	66,224	116,302
Charge for the year	–	–	3,474	490	3,964
	--------	--------	--------	--------	---------
At 31 March 2025	31,140	14,018	8,394	66,714	120,266
	--------	--------	--------	--------	---------
Carrying amount
At 31 March 2025	–	–	8,106	1,471	9,577
	--------	--------	--------	--------	---------
At 31 March 2024	–	–	11,580	1,961	13,541
	--------	--------	--------	--------	---------

6. Investments

	Shares in group undertakings
	£
Cost
At 1 April 2024 and 31 March 2025	91
	----
Impairment
At 1 April 2024 and 31 March 2025	–
	----

Carrying amount
At 31 March 2025	91
	----
At 31 March 2024	91
	----

The company owns 100% of Green Inc Film and Television (Ireland) Ltd, a dormant company incorporated in the Republic of Ireland.

7. Debtors

	2025	2024
	£	£
Trade debtors	187,839	189,406
Amounts owed by group undertakings and undertakings in which the company has a participating interest	5,000	4,824
Other debtors	70,950	55,018
	---------	---------
	263,789	249,248
	---------	---------

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	488	274
Trade creditors	147,215	8,438
Corporation tax	63,977	76,111
Social security and other taxes	14,327	18,675
Other creditors	133,274	66,008
	---------	---------
	359,281	169,506
	---------	---------

9. Director's advances, credits and guarantees

During the period, the company received net funds of £249 from the director (2024 - the company advanced net funds of £22,161 to the director). At the balance sheet date the director owed £39,595 to the company (2024 - £39,844).

10. Controlling party

The company was under the control of Mr S Stewart throughout the current period.