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Registration number: 03081973

Icon Films Limited
Unaudited Filleted Financial Statements
for the Year Ended 31 March 2025

Pages for filing with Registrar

Icon Films Limited

Contents

Company Information | 1
Balance Sheet | 2 to 3
Notes to the Unaudited Financial Statements | 4 to 10

Icon Films Limited

Company Information

Directors | L P Marshall P H Marshall

Registered office | 56 Kingsdown Parade Kingsdown Parade Bristol BS6 5UQ

Registered number | 03081973

Accountant | Corrigan Accountants Limited 1st Floor 25 King Street Bristol BS1 4PB

Icon Films Limited

(Registration number: 03081973)
Balance Sheet as at 31 March 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 4 | 56,871 | 84,296
Current assets |  |  |
Debtors | 5 | 757,034 | 899,527
Cash at bank and in hand |  | 2,485,335 | 1,375,648
|  | 3,242,369 | 2,275,175
Creditors: Amounts falling due within one year | 6 | (641,580) | (437,494)
Net current assets |  | 2,600,789 | 1,837,681
Net assets |  | 2,657,660 | 1,921,977
Capital and reserves |  |  |
Called up share capital | 7 | 100 | 100
Profit and loss account |  | 2,657,560 | 1,921,877
Total equity |  | 2,657,660 | 1,921,977

Icon Films Limited

(Registration number: 03081973)
Balance Sheet as at 31 March 2025

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.

Directors' 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 directors acknowledge their 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’.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised for issue by the Board on 23 February 2026 and signed on its behalf by:

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

L P Marshall
Director

Icon Films Limited

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

1 | Statutory information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
56 Kingsdown Parade Kingsdown Parade
Bristol
BS6 5UQ

2 | Accounting policies

Summary of significant accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented.

Statement of compliance

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

Basis of preparation

These financial statements have been prepared using the historical cost convention.
The financial statements are prepared in pounds sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Going concern

The accounts have been prepared on a going concern basis which assumes that the company has sufficient funds to continue to trade for the foreseeable future. The directors have indicated their willingness to continue to support the company and accordingly the accounts have been prepared on the basis that the company is a going concern.

Revenue recognition

Turnover comprises amounts receivable by the company in respect of television production, distribution income and royalty income, exclusive of Value Added Tax and trade discounts.
Amounts receivable for work carried out in producing television programmes is recognised on the basis of the value of costs incurred related to the production activity. Gross profit on production activity is recognised based upon the stage of completion of the production and in accordance with the underlying contract. Overspends are recognised as soon as they arise and underspends are recognised on completion of the production.
Amounts receivable for distribution income are recognised when receivable.
Amounts receivable for royalty income are recognised when receivable, which is when the company has been notified of sums due to it.

Icon Films Limited

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

Foreign currency transactions and balances

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.
Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise on monetary items.

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 Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on enacted or substantively enacted tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax assets are recognised only to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilised.

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:

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.

Leasehold improvements | depreciated over the life of the lease
Vehicles | 5 years straight line
Fixtures and fittings | 6.67 years stright line
Office equipment | 4 years straight line
Computer equipment | 6.67 years straight line

Icon Films Limited

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

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Leases

Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.
Where the company sublets property under an operating lease, income from the sublease is recognised on a straight-line basis over the sublease term unless another systematic basis is more representative. The company remains liable under the head lease and discloses any continuing obligations if material.

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.

Icon Films Limited

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

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.

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense.
The cost of any unused holiday entitlement is recognised in the period in which the employees' services are received.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2024 - 5).

Icon Films Limited

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

4 | Tangible fixed assets

| Leasehold improvements £ | Furniture, fittings and equipment £ | Motor vehicles £ | Office equipment £ | Computer equipment £ | Total £
Cost
At 1 April 2024 | 235,910 | 419,752 | 23,775 | 12,531 | 198,785 | 890,753
Additions | - | - | - | 1,560 | - | 1,560
Disposals | - | (419,752) | (15,538) | (6,636) | (4,760) | (446,686)
At 31 March 2025 | 235,910 | - | 8,237 | 7,455 | 194,025 | 445,627
Depreciation
At 1 April 2024 | 156,835 | 419,752 | 23,775 | 12,531 | 193,564 | 806,457
Charge for the year | 23,722 | - | - | 278 | 4,985 | 28,985
Eliminated on disposal | - | (419,752) | (15,538) | (6,636) | (4,760) | (446,686)
At 31 March 2025 | 180,557 | - | 8,237 | 6,173 | 193,789 | 388,756
Carrying amount
At 31 March 2025 | 55,353 | - | - | 1,282 | 236 | 56,871
At 31 March 2024 | 79,075 | - | - | - | 5,221 | 84,296

5 | Debtors: amounts falling due within one year

| 2025 £ | 2024 £
Trade debtors | 47,315 | 258,193
Prepayments | 93,028 | 10,848
Other debtors | 159,413 | 159,413
Directors' loan accounts | 457,278 | 471,073
| 757,034 | 899,527

Icon Films Limited

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

6 | Creditors

| 2025 £ | 2024 £
Amounts falling due within one year |  |
Trade creditors | 28,643 | 25,492
Taxation and social security | 219,474 | 42,828
Other creditors | 942 | 801
Accruals and deferred income | 131,064 | 144,671
Corporation tax | 261,457 | 223,702
| 641,580 | 437,494

7 | Share capital

Allotted, called up and fully paid shares

| 2025 | 2024
| No. | £ | No. | £
Ordinary shares of £1 each | 100 | 100 | 100 | 100

8 | Obligations under leases and hire purchase contracts

Operating leases - lessee

The total of future minimum lease payments is as follows:

| 2025 £ | 2024 £
| 332,618 | 486,134

The amount of non-cancellable operating lease payments recognised as an expense during the year was £153,516 (2024 - £186,409).

Operating leases - lessor

The total of future minimum lease payments is as follows:

| 2025 £ | 2024 £
Total lease commitments | 283,446 | 316,032

Total contingent rents recognised as income in the period are £64,588 (2024 - £Nil).

Icon Films Limited

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

9 | Related party transactions

During the period, the Company paid dividends to its directors totalling £Nil (2024 - £Nil).
During the year, the Company paid £10,651 (2024 - £5,923) to daughters of the directors, with respect to employment services.
During the year, the Company made payments of £Nil (2024 - £5,200) to a company under common control in respect of membership fees. At the year end, a balance of £Nil (2024 - £Nil) was owed.

Transactions with directors

2025 | At 1 April 2024 £ | Advances to director £ | Repayments by director £ | At 31 March 2025 £
Directors | 471,073 | 232,197 | (245,992) | 457,278

2024 | At 1 April 2023 £ | Advances to director £ | Repayments by director £ | At 31 March 2024 £
Directors | 449,086 | 27,250 | (5,263) | 471,073

Interest is being charged at 2.25% and the loan is repayable on demand.