Filleted

Registration number: 07374975

Film Photography Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Financial Statements	3 to 8

Film Photography Limited

Company Information

Director

Mr C P Resnick

Registered office

Llys Deri Parc Pensarn Carmarthen SA31 2NF

Film Photography Limited

(Registration number: 07374975)
Balance Sheet as at 30 September 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	6	1,628	2,126
Current assets
Stocks	7	110,274	107,600
Debtors	8	354	242
Cash at bank and in hand		5,157	4,290
		115,785	112,132
Creditors: Amounts falling due within one year	9	(69,452)	(70,313)
Net current assets		46,333	41,819
Net assets		47,961	43,945
Capital and reserves
Called up share capital		1	1
Profit and loss account		47,960	43,944
Total equity		47,961	43,945

For the financial year ending 30 September 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 accounts for the year in question in accordance with section 476; and
•	The director acknowledges his 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 special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

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 by the director on 11 May 2026
 

......................................... Mr C P Resnick Director

Film Photography Limited

Notes to the Financial Statements for the Year Ended 30 September 2025

1	General information

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

The address of its registered office is:
Llys Deri
Parc Pensarn
Carmarthen
SA31 2NF

The principal place of business is:
Penrallt
Blaenffos
Boncath
Pembrokeshire
SA37 0JB

These financial statements were authorised for issue by the director on 11 May 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

The financial statements have been prepared on a going concern basis.

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.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Film Photography Limited

Notes to the Financial Statements for the Year Ended 30 September 2025

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

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
Office equipment	20% reducing balance
Motor vehicles	25% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

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
Goodwill	Fully amortised

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.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Film Photography Limited

Notes to the Financial Statements for the Year Ended 30 September 2025

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.

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2024 - 1).

4	Profit before tax

Arrived at after charging/(crediting)

	2025 £	2024 £
Depreciation expense	498	335

Film Photography Limited

Notes to the Financial Statements for the Year Ended 30 September 2025

5	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 October 2024	9,643	9,643
At 30 September 2025	9,643	9,643
Amortisation
At 1 October 2024	9,643	9,643
At 30 September 2025	9,643	9,643
Carrying amount
At 30 September 2025	-	-

Revalued assets for the year ended 30 September 2024

6	Tangible assets

	Office equipment £	Motor vehicles  £	Total £
Cost or valuation
At 1 October 2024	2,169	1,700	3,869
At 30 September 2025	2,169	1,700	3,869
Depreciation
At 1 October 2024	1,495	248	1,743
Charge for the year	135	363	498
At 30 September 2025	1,630	611	2,241
Carrying amount
At 30 September 2025	539	1,089	1,628
At 30 September 2024	674	1,452	2,126

7

Stocks

	2025 £	2024 £
Stocks	110,274	107,600

Film Photography Limited

Notes to the Financial Statements for the Year Ended 30 September 2025

8

Debtors

	2025 £	2024 £
Other debtors	354	242
	354	242

9

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Bank loans and overdrafts	11	2,596	47
Trade creditors		-	124
Taxation and social security		1,271	880
Directors' loan accounts	12	63,059	66,856
Other creditors		2,526	2,406
		69,452	70,313