CELTIC ENTERTAINMENT LIMITED Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 06322071

CELTIC ENTERTAINMENT LIMITED

Filleted Unaudited Financial Statements

29 July 2025

CELTIC ENTERTAINMENT LIMITED

Statement of Financial Position

29 July 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	5	1,179	1,475
Investments	6	25,000	25,000
		--------	--------
		26,179	26,475

Current assets

Debtors	7	42,232	45,088
Cash at bank and in hand		6,469	3,762
		--------	--------
		48,701	48,850

Creditors: amounts falling due within one year	8	249,765		179,980
		---------		---------
Net current liabilities			201,064	131,130
			---------	---------
Total assets less current liabilities			( 174,885)	( 104,655)

Creditors: amounts falling due after more than one year	9		–	396

Provisions

Taxation including deferred tax	224	547
	---------	---------
Net liabilities	( 175,109)	( 105,598)
	---------	---------

Capital and reserves

Called up share capital	2	2
Profit and loss account	( 175,111)	( 105,600)
	---------	---------
Shareholders deficit	( 175,109)	( 105,598)
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 29 July 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 financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

CELTIC ENTERTAINMENT LIMITED

Statement of Financial Position (continued)

29 July 2025

These financial statements were approved by the board of directors and authorised for issue on 29 July 2026 , and are signed on behalf of the board by:

S Sutherland
Director

Company registration number: 06322071

CELTIC ENTERTAINMENT LIMITED

Notes to the Financial Statements

Year ended 29 July 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 14 Stratford Road, London, W8 6QD.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for film distribution and production income, net of discounts and of Value Added Tax.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures and Fittings	-	20% reducing balance
Equipment	-	20% reducing balance

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Investments in associates

Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.

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. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2024: 1 ).

5. Tangible assets

	Fixtures and fittings	Equipment	Total
	£	£	£
Cost
At 30 July 2024 and 29 July 2025	1,545	6,585	8,130
	-------	-------	-------
Depreciation
At 30 July 2024	1,337	5,318	6,655
Charge for the year	42	254	296
	-------	-------	-------
At 29 July 2025	1,379	5,572	6,951
	-------	-------	-------
Carrying amount
At 29 July 2025	166	1,013	1,179
	-------	-------	-------
At 29 July 2024	208	1,267	1,475
	-------	-------	-------

6. Investments

	Other investments other than loans
	£
Cost
At 30 July 2024 and 29 July 2025	25,000
	--------
Impairment
At 30 July 2024 and 29 July 2025	–
	--------

Carrying amount
At 29 July 2025	25,000
	--------
At 29 July 2024	25,000
	--------

This consist of 100% holding in Duke Street Films Limited, a company in which Mr S. Sutherland is also a director. At the year end,the company owed Duke Street Films Limited £90,7666 (2024: £NIL),which is included within creditors.The balance was unsecured,interest-free and repayable on demand.

7. Debtors

	2025	2024
	£	£
Other debtors	42,232	45,088
	--------	--------

Included within other debtors is £39,849 (2024: £40,315) due from related entities under common directorship. The common director is also a shareholder of these related entities. These balances are unsecured, interest-free and repayable on demand.

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	4,543	1,032
Amounts owed to group undertakings	90,766	–
Corporation tax	–	238
Social security and other taxes	2,078	1,942
Other creditors	152,378	176,768
	---------	---------
	249,765	179,980
	---------	---------

Included within other creditors is £59,926 (2024:£60,576) due to an entity under common control and directorship, and £1,214 (2024:£1,214) due to an entity that shares a common director with the company. These balances are unsecured, interest-free and repayable on demand.

9. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	–	396
	----	----

10. Director's advances, credits and guarantees

During the year the director entered into the following advances and credits with the company:

	2025
	Balance brought forward	Advances/ (credits) to the director	Balance outstanding
	£	£	£
S Sutherland	( 87,878)	18,840	( 69,038)
	--------	--------	--------

	2024
	Balance brought forward	Advances/ (credits) to the director	Balance outstanding
	£	£	£
S Sutherland	( 35,378)	( 52,500)	( 87,878)
	--------	--------	--------

11. Related party transactions

During the year, Mr S Sutherland received director fees of £2,000 (2024: £5,000). The amount due to the director is unsecured, interest free and repayable on demand. meaning