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Registered Number: 03837848
England and Wales
SANDS FILMS COSTUMES LIMITED
Unaudited Financial Statements
Period of accounts Start date: 01 January 2025 End date: 31 December 2025

Sands Films Costumes Limited Directors' Report For the year ended 31 December 2025
Director's report and financial statements The directors present report and unaudited accounts for the year ended 31 December 2025. Principal activities The principal activity of the company during the financial year continued to be the sale and rental of costumes as well as the running of stage and studio production facilities. The film 'The Man with the Plan' Beveridge has been completed within this year. Audit exemption Sands Films Costumes Limited has taken advantage of the exemption under Section 477 of the Companies Act 2006 and these financial statements are therefore unaudited. Directors The directors who served the company throughout the year were as follows:
C S Goodwin
O J M Stockman
Statement of directors' responsibilities The directors are responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice. Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (Financial Reporting Standard 102). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period. In preparing these financial statements, the directors are required to : select suitable accounting policies and then apply them consistently make judgements and accounting estimates that are reasonable and prudent state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions Small company regime This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime with Part 15 of the Companies Act 2006. This report was approved by the board and signed on its behalf by:
---------------------------------- C S Goodwin Director
Date approved: 05 June 2026 1

Registered Number: 03837848 Sands Films Costumes Limited Statement of Financial Position As at 31 December 2025
| Notes | 2025 £ |  | 2024 £
--- | --- | --- | --- | ---
Fixed assets |  |  |
Intangible fixed assets | 3 | 400,000 |  | 824,224
Tangible fixed assets | 4 | 4,098,834 |  | 4,203,250
|  | 4,498,834 |  | 5,027,474
Current assets |  |  |
Debtors | 5 | 34,713 |  | 31,171
Cash at bank and in hand |  | 4,345 |  | 383
|  | 39,058 |  | 31,554
Creditors: amount falling due within one year | 6 | (373,176) |  | (359,279)
Net current assets |  | (334,118) |  | (327,725)
Total assets less current liabilities |  | 4,164,716 |  | 4,699,749
Creditors: amount falling due after more than one year | 7 | (292,748) |  | (315,731)
Provisions for liabilities | 8 | (174,467) |  | (182,447)
Net assets |  | 3,697,501 |  | 4,201,571
Capital and reserves |  |  |
Called up share capital |  | 2,097,000 |  | 2,097,000
Revaluation Reserves | 9 | 1,254,712 |  | 1,259,448
Profit and loss account |  | 345,789 |  | 845,123
Shareholders' funds |  | 3,697,501 |  | 4,201,571
For the year ended 31 December 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. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 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. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies. The financial statements were approved by the board of directors on 05 June 2026 and were signed on its behalf by:
------------------------------- O J M Stockman Director
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Sands Films Costumes Limited Notes to the Financial Statements For the year ended 31 December 2025
General Information Sands Films Costumes Limited is a private company, limited by shares, registered in England and Wales, registration number 03837848, registration address 82 Saint Marychurch Street, London, SE16 4HZ. The presentation currency is £ sterling.
1. | Accounting policies Significant accounting policies Statement of compliance These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006. Basis of preparation The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies. The financial statements are prepared in sterling which is the functional currency of the company. Going concern basis The financial statements have been prepared on a going concern basis. The company's ongoing activities are dependent upon the continued support of the directors who have undertaken to provide such support for the foreseeable future. If the going concern basis were not appropriate, adjustments would have to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that may arise and to reclassify fixed assets as current assets and long term liabilities as current liabilities. Turnover Turnover is measured at the fair value of the consideration received or receivable and represents the amount receivable for goods supplied or services rendered by the company, net of Value Added Tax and trade discounts. Government grants Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred. Foreign currencies Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement. Taxation Taxation represents the sum of tax currently payable and deferred tax. Current tax is recognised for the amount of income tax payable in respect of the taxable profit for the current or past years and it is calculated using tax rates that have been enacted or substantially enacted by the end of the reporting period. Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profits. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period Deferred taxation Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date. Deferred tax is measured using 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. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Current and deferred tax assets and liabilities are not discounted. Intangible assets Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable. Following a fair value review this year, and as recorded in note 6, the intangible asset The Man with the Plan will be written down on a straight line basis in ten equal instalments commencing 1 January 2026. Tangible fixed assets Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and Buildings | 1% Straight Line
Plant and Machinery | 10% Straight Line
Fixtures and Fittings | 20% Straight Line
2. | Average number of employees Average number of employees during the year was 15 (2024 : 20).
3. | Intangible fixed assets
Cost | Other |  | Total
| £ |  | £
At 01 January 2025 | 824,224 |  | 824,224
Additions | 278,219 |  | 278,219
Disposals | - |  | -
At 31 December 2025 | 1,102,443 |  | 1,102,443
Amortisation
At 01 January 2025 | - |  | -
Charge for year | 702,443 |  | 702,443
On disposals | - |  | -
At 31 December 2025 | 702,443 |  | 702,443
Net book values
At 31 December 2025 | 400,000 |  | 400,000
At 31 December 2024 | 824,224 |  | 824,224
The intangible asset represents the costs of the film The Man with the Plan production of which was completed in 2025. The directors have considered the likely future income streams associated with the film and consider that a write down to a carrying value of £400,000 is appropriate. This will then be amortised in ten equal instalments over the subsequent ten years which is the expected life of the film. Income received from the film in future years will be shown separately in the accounts from the amounts amortised annually. Two tax credits, of £48,040 (2023) and £126,412 (2024), have been received via the Film Tax Credit Scheme and have been offset against the total cost of the film disclosed above. A further claim will be made in respect of the final costs incurred in 2025.
4. | Tangible fixed assets
Cost or valuation | Land and Buildings |  | Plant and Machinery |  | Fixtures and Fittings |  | Total
| £ |  | £ |  | £ |  | £
At 01 January 2025 | 4,200,000 |  | 1,063,600 |  | 19,528 |  | 5,283,128
Additions | - |  | 14,000 |  | - |  | 14,000
Disposals | - |  | (208,100) |  | - |  | (208,100)
At 31 December 2025 | 4,200,000 |  | 869,500 |  | 19,528 |  | 5,089,028
Depreciation
At 01 January 2025 | 294,000 |  | 775,430 |  | 10,448 |  | 1,079,878
Charge for year | 42,000 |  | 72,510 |  | 3,906 |  | 118,416
On disposals | - |  | (208,100) |  | - |  | (208,100)
At 31 December 2025 | 336,000 |  | 639,840 |  | 14,354 |  | 990,194
Net book values
Closing balance as at 31 December 2025 | 3,864,000 |  | 229,660 |  | 5,174 |  | 4,098,834
Opening balance as at 01 January 2025 | 3,906,000 |  | 288,170 |  | 9,080 |  | 4,203,250
Freehold land and buildings were valued on 31 December 2017, with the report issued on 22 May 2018, by Matthews & Goodman, Property Advisers, in accordance with the 2017 edition of the RICS Valuation - Professional Standards (incorporation the International Valuation Standards) - Global and UK edition published by the Royal Institution of Chartered Surveyors, on the basis of vacant possession subject to a term lease of part of the property. If the freehold property were sold at the carried amount, a corporation tax liability of approximately £111,140 would arise. This amount has been included in the financial statements as part of the deferred tax provision. If land and buildings were measured using the cost model, the carrying amounts would have been as follows:
Particulars |  | 2025 £ |  | 2024 £
--- | --- | --- | --- | ---
Cost |  | 2,928,475 |  | 2,928,475
Accumulated depreciation |  | (349,427) |  | (321,139)
Carrying value |  | 2,579,048 |  | 2,607,336
5. | Debtors: amounts falling due within one year
| 2025 £ |  | 2024 £
--- | --- | --- | ---
Trade Debtors | 14,427 |  | 9,738
Provision for Doubtful Debts | - |  | (300)
Prepayments & Accrued Income | 5,588 |  | 21,733
Other Debtors | 14,594 |  | -
Directors' Current Accounts | 104 |  | -
| 34,713 |  | 31,171
6. | Creditors: amount falling due within one year
| 2025 £ |  | 2024 £
--- | --- | --- | ---
Trade Creditors | 38,370 |  | 33,282
Other borrowings | 77,419 |  | 78,822
Bank Loans & Overdrafts | 92,105 |  | 125,980
PAYE & Social Security | 14,484 |  | 26,554
Accruals and deferred income | 110,460 |  | 27,988
Other Creditors | 40,338 |  | 60,103
Directors' Current Accounts | - |  | 6,550
| 373,176 |  | 359,279
7. | Creditors: amount falling due after more than one year
| 2025 £ |  | 2024 £
--- | --- | --- | ---
Other borrowings | - |  | 162,440
Bank Loans & Overdrafts | 292,748 |  | 153,291
| 292,748 |  | 315,731
8. | Provisions for liabilities
| 2025 £ |  | 2024 £
--- | --- | --- | ---
Deferred Tax | 174,467 |  | 182,447
| 174,467 |  | 182,447
9. | Revaluation Reserves
| 2025 £ |  | 2024 £
--- | --- | --- | ---
Revaluation Reserve b/fwd | 1,259,448 |  | 1,264,184
Transfer to Profit and Loss Account | (12,716) |  | (12,716)
Deferred Tax Provided on Revaluation of Property | 7,980 |  | 7,980
| 1,254,712 |  | 1,259,448
10. | Loans and overdrafts
Particulars |  | 2025 £ |  | 2024 £
--- | --- | --- | --- | ---
Bank loan |  | 384,853 |  | 279,271
Other loans |  | 77,419 |  | 241,262
Total |  | 462,272 |  | 520,533
Payable within one year |  | 169,524 |  | 204,802
Payable after one year |  | 292,748 |  | 315,731
The bank loan is secured by a first charge on the company's freehold property and is repayable by monthly instalments including interest of approximately £6,776 (variable). The bank loan will be repaid in full by April 2031. A Coronavirus Business Interruption Loan of £200,000 was received in the year ended 31 December 2020. This loan is repayable by 60 equal monthly instalments of £3,333 which commenced in June 2021. Interest at 3.99% over the Bank of England Base Rate is chargeable on this loan. The first 12 months' interest was paid by the UK Government. Interest of approximately £3,400 was not payable in 2021 due to this Government support. This loan will be repaid in full in 2026.
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