Silverfin false false 28/02/2025 18/02/2024 28/02/2025 D R Mackinnon 18/02/2024 18 February 2026 The company was incorporated on 18 February 2024.
The principal activity of the company was the provision of consultancy services in the film and television industry SC799501 2025-02-28 SC799501 bus:Director1 2025-02-28 SC799501 core:CurrentFinancialInstruments 2025-02-28 SC799501 core:ShareCapital 2025-02-28 SC799501 core:RetainedEarningsAccumulatedLosses 2025-02-28 SC799501 core:OtherPropertyPlantEquipment 2024-02-17 SC799501 2024-02-17 SC799501 core:OtherPropertyPlantEquipment 2025-02-28 SC799501 bus:OrdinaryShareClass1 2025-02-28 SC799501 2024-02-18 2025-02-28 SC799501 bus:FilletedAccounts 2024-02-18 2025-02-28 SC799501 bus:SmallEntities 2024-02-18 2025-02-28 SC799501 bus:AuditExemptWithAccountantsReport 2024-02-18 2025-02-28 SC799501 bus:PrivateLimitedCompanyLtd 2024-02-18 2025-02-28 SC799501 bus:Director1 2024-02-18 2025-02-28 SC799501 core:OtherPropertyPlantEquipment core:TopRangeValue 2024-02-18 2025-02-28 SC799501 core:OtherPropertyPlantEquipment 2024-02-18 2025-02-28 SC799501 bus:OrdinaryShareClass1 2024-02-18 2025-02-28 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC799501 (Scotland)

# RUGGED ISLAND FILMS LTD

### Unaudited Financial Statements
For the financial period from 18 February 2024 to 28 February 2025
Pages for filing with the registrar

RUGGED ISLAND FILMS LTD

## Unaudited Financial Statements

For the financial period from 18 February 2024 to 28 February 2025

Contents

RUGGED ISLAND FILMS LTD

## STATEMENT OF FINANCIAL POSITION

As at 28 February 2025
RUGGED ISLAND FILMS LTD

## STATEMENT OF FINANCIAL POSITION (continued)

As at 28 February 2025

| Note | 28.02.2025
|  | £
Fixed assets |  |
Tangible assets | 3 | 1,052
|  | 1,052
Current assets |  |
Debtors | 4 | 25,138
Cash at bank and in hand |  | 32,860
|  | 57,998
Creditors: amounts falling due within one year | 5 | ( 20,459)
Net current assets |  | 37,539
Total assets less current liabilities |  | 38,591
Net assets |  | 38,591
Capital and reserves |  |
Called-up share capital | 6 | 1
Profit and loss account |  | 38,590
Total shareholder's funds |  | 38,591

For the financial period ending 28 February 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 member has not required the Company to obtain an audit of its financial statements for the financial period in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Comprehensive Income has not been delivered.

The financial statements of Rugged Island Films Ltd (registered number: SC799501) were approved and authorised for issue by the Director on 18 February 2026. They were signed on its behalf by:

D R Mackinnon Director |

RUGGED ISLAND FILMS LTD

## NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 18 February 2024 to 28 February 2025
RUGGED ISLAND FILMS LTD

## NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 18 February 2024 to 28 February 2025

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.

##### General information and basis of accounting

Rugged Island Films Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is 5 Galtrigill, Dunvegan, Isle Of Skye, IV55 8ZZ, Scotland, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

##### Going concern

The director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

##### Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business of provision of consultancy services in the film and television industry, and is shown net of VAT and other sales related taxes.

##### Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

##### Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. | 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

##### Impairment of assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

##### Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand,.

##### Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

#### 2. Employees

| Period from 18.02.2024 to 28.02.2025
| Number
Monthly average number of persons employed by the Company during the period, including the director | 1

#### 3. Tangible assets

| Plant and machinery etc. |  | Total
| £ |  | £
Cost |  |  |
At 18 February 2024 | 0 |  | 0
Additions | 1,122 |  | 1,122
At 28 February 2025 | 1,122 |  | 1,122
Accumulated depreciation |  |  |
At 18 February 2024 | 0 |  | 0
Charge for the financial period | 70 |  | 70
At 28 February 2025 | 70 |  | 70
Net book value |  |  |
At 28 February 2025 | 1,052 |  | 1,052

#### 4. Debtors

| 28.02.2025
| £
Amounts owed by Group undertakings | 2,000
Other debtors | 23,138
| 25,138

#### 5. Creditors: amounts falling due within one year

| 28.02.2025
| £
Taxation and social security | 9,972
Other creditors | 10,487
| 20,459

#### 6. Called-up share capital

| 28.02.2025
| £
Allotted, called-up and fully-paid |
1 Ordinary shares share of £ 1.00 | 1

#### 7. Related party transactions

Transactions with the entity's director

| 28.02.2025
| £
Balance at 28 February 2025 | 18,572