Registration number: 02897614

Out Takes Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 6

Out Takes Limited

Company Information

Directors

Mr D Brown Mrs LJ Brown

Company secretary

Mr D Brown

Registered office

86 Combe Avenue London SE3 7PX

Accountants

DJM Accountants & Consultancy Limited 71-75 Shelton Street Covent Garden London WC2H 9JQ

Out Takes Limited

(Registration number: 02897614)
Balance Sheet as at 31 July 2025

	Note	2025 £	2024 £
Fixed assets
Intangible assets	4	277,211	277,211
Tangible assets	5	422	562
		277,633	277,773
Current assets
Stocks	6	-	1,240
Debtors	7	1,631	1,631
Cash at bank and in hand		853	752
		2,484	3,623
Creditors: Amounts falling due within one year	8	(76,560)	(83,233)
Net current liabilities		(74,076)	(79,610)
Net assets		203,557	198,163
Capital and reserves
Called up share capital	9	2	2
Retained earnings		203,555	198,161
Shareholders' funds		203,557	198,163

For the financial year ending 31 July 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 21 April 2026 and signed on its behalf by:
 

......................................... Mr D Brown Company secretary and director

Out Takes Limited

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

1	General information

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

The address of its registered office is:
86 Combe Avenue
London
SE3 7PX

These financial statements were authorised for issue by the Board on 21 April 2026.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

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, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
	25% on reducing balance

Out Takes Limited

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

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Intangible assets	Written off over its' useful life

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

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.

3	Staff numbers

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

Out Takes Limited

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

4	Intangible assets

	Internally generated software development costs  £	Total £
Cost or valuation
At 1 August 2024	277,211	277,211
At 31 July 2025	277,211	277,211
Amortisation
Carrying amount
At 31 July 2025	277,211	277,211
At 31 July 2024	277,211	277,211

5	Tangible assets

	Fixtures and fittings £	Total £
Cost or valuation
At 1 August 2024	71,039	71,039
At 31 July 2025	71,039	71,039
Depreciation
At 1 August 2024	70,477	70,477
Charge for the year	140	140
At 31 July 2025	70,617	70,617
Carrying amount
At 31 July 2025	422	422
At 31 July 2024	562	562

Out Takes Limited

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

6

Stocks

	2025 £	2024 £
Work in progress	-	1,240

7

Debtors

Current	2025 £	2024 £
Other debtors	1,631	1,631
	1,631	1,631

8

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £
Due within one year
Taxation and social security	665	8,323
Accruals and deferred income	2,000	-
Other creditors	73,895	74,910
	76,560	83,233

9	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary of £1 each	2	2	2	2