Company registration number SC290262 (Scotland)
FRIEL KEAN FILMS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
PAGES FOR FILING WITH REGISTRAR
FRIEL KEAN FILMS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
FRIEL KEAN FILMS LIMITED
BALANCE SHEET
AS AT
30 SEPTEMBER 2025
30 September 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
4
13,264
17,686
Current assets
Debtors
5
422,973
241,714
Cash at bank and in hand
677,096
356,606
1,100,069
598,320
Creditors: amounts falling due within one year
6
(1,076,831)
(575,209)
Net current assets
23,238
23,111
Total assets less current liabilities
36,502
40,797
Provisions for liabilities
(3,316)
(4,422)
Net assets
33,186
36,375
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
33,184
36,373
Total equity
33,186
36,375

For the financial year ended 30 September 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he 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 directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 23 June 2026 and are signed on its behalf by:
Mr J Kean
Director
Company registration number SC290262 (Scotland)
FRIEL KEAN FILMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 2 -
1
Accounting policies
Company information

Friel Kean Films Limited is a private company limited by shares incorporated in Scotland. The registered office is 37 Albyn Place, Aberdeen, United Kingdom, AB10 1YN.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

A true t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover in respect of contracts for on-going services is recognised by reference to the stage of completion and is stated net of VAT.

The nature, timing of satisfaction of performance obligations and significant payment terms of the company's major sources of revenue are as follows:

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
25% reducing balance

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.

1.5
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.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

FRIEL KEAN FILMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
1
Accounting policies
(Continued)
- 3 -
1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention 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.

Classification of financial liabilities

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.

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 paymen ts 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. A m ounts 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.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

The tax ation 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

Currrent 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.

FRIEL KEAN FILMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
1
Accounting policies
(Continued)
- 4 -
Deferred tax

Deferred tax is recognised in respect of all timing differences a t the reporting date. Unrelieved tax losses and other tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11
Retirement benefits

The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.

1.12
Leases
As lessee

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

1.13
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

FRIEL KEAN FILMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 5 -
2
Judgements and key sources of estimation uncertainty

In preparing the financial statements, management is required to make estimates and assumptions which affect reported income, expenses, assets, liabilities and disclosure of contingent liabilities. Use of available information and application of judgement are inherent in the formation of estimates, together with past experience and expectations of future events that are believed to be reasonable under the circumstances. Actual results in the future could differ from such estimates.

Critical judgements

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

Useful economic lives of tangible assets

The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual value of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets.

Impairment of debtors

The company makes an estimate of the recoverable value of trade and other debtors. When assessing impairment of trade and other debtors, management considers factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
6
13
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 October 2024 and 30 September 2025
142,672
Depreciation and impairment
At 1 October 2024
124,986
Depreciation charged in the year
4,422
At 30 September 2025
129,408
Carrying amount
At 30 September 2025
13,264
At 30 September 2024
17,686
FRIEL KEAN FILMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 6 -
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
368,261
173,228
Other debtors
54,712
68,486
422,973
241,714
6
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
681,417
468,000
Taxation and social security
-
0
48,832
Other creditors
395,414
58,377
1,076,831
575,209
7
Operating lease commitments
As lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2025
2024
£
£
Total commitments
25,800
38,000
8
Related party transactions
2025
2024
Amounts due to related parties
£
£
Entities over which the entity has control, joint control or significant influence
681,417
468,000

The following amounts were outstanding at the reporting end date:

2025
2024
Amounts due from related parties
£
£
Entities over which the entity has control, joint control or significant influence
-
60,000
2025-09-30 2024-10-01 false false false 23 June 2026 CCH Software CCH Accounts Production 2026.100 No description of principal activity Mr J Kean Ms M Friel Ms M Friel SC290262 2024-10-01 2025-09-30 SC290262 2025-09-30 SC290262 2024-09-30 SC290262 core:OtherPropertyPlantEquipment 2025-09-30 SC290262 core:OtherPropertyPlantEquipment 2024-09-30 SC290262 core:CurrentFinancialInstruments core:WithinOneYear 2025-09-30 SC290262 core:CurrentFinancialInstruments core:WithinOneYear 2024-09-30 SC290262 core:WithinOneYear 2025-09-30 SC290262 core:WithinOneYear 2024-09-30 SC290262 core:CurrentFinancialInstruments 2025-09-30 SC290262 core:CurrentFinancialInstruments 2024-09-30 SC290262 core:ShareCapital 2025-09-30 SC290262 core:ShareCapital 2024-09-30 SC290262 core:RetainedEarningsAccumulatedLosses 2025-09-30 SC290262 core:RetainedEarningsAccumulatedLosses 2024-09-30 SC290262 bus:Director1 2024-10-01 2025-09-30 SC290262 core:PlantMachinery 2024-10-01 2025-09-30 SC290262 2023-10-01 2024-09-30 SC290262 core:OtherPropertyPlantEquipment 2024-09-30 SC290262 core:OtherPropertyPlantEquipment 2024-10-01 2025-09-30 SC290262 bus:PrivateLimitedCompanyLtd 2024-10-01 2025-09-30 SC290262 bus:SmallCompaniesRegimeForAccounts 2024-10-01 2025-09-30 SC290262 bus:FRS102 2024-10-01 2025-09-30 SC290262 bus:AuditExemptWithAccountantsReport 2024-10-01 2025-09-30 SC290262 bus:Director2 2024-10-01 2025-09-30 SC290262 bus:CompanySecretary1 2024-10-01 2025-09-30 SC290262 bus:FullAccounts 2024-10-01 2025-09-30 xbrli:pure xbrli:shares iso4217:GBP