Clear Cut Pictures Limited - Limited company accounts 25.1

REGISTERED NUMBER: 02828689 (England and Wales)

Report of the Director and

Unaudited Consolidated Financial Statements for the Year Ended 30 June 2026

for

Clear Cut Pictures Limited

Page

Company Information

1

Report of the Director

2

Consolidated Income Statement

3

Consolidated Balance Sheet

4

Company Balance Sheet

6

Notes to the Consolidated Financial Statements

8

DIRECTOR:

H G Queiro

REGISTERED OFFICE:

44-48 Bloomsbury Street

London

WC18 3QJ

REGISTERED NUMBER:

02828689 (England and Wales)

ACCOUNTANTS:

OPPENHEIMS Chartered Accountants

Statutory Auditors

1a Waltham Court

Milley Lane

Reading

Berkshire

RG10 9AA

The director presents his report with the financial statements of the company and the group for the year ended 30 June 2026.

DIRECTOR

H G Queiro held office during the whole of the period from 1 July 2025 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

H G Queiro - Director

18 August 2026

TURNOVER

4,402,485

4,115,948

Cost of sales

202,196

127,113

GROSS PROFIT

4,200,289

3,988,835

Administrative expenses

4,145,654

4,353,406

OPERATING PROFIT/(LOSS)

4

54,635

(364,571

)

Interest receivable and similar income

8,031

15,346

62,666

(349,225

)

Gain/loss on revaluation of investment
property

44,769

11,533

PROFIT/(LOSS) BEFORE TAXATION

107,435

(337,692

)

Tax on profit/(loss)

5

1,456

145

PROFIT/(LOSS) FOR THE FINANCIAL
YEAR

105,979

(337,837

)

Profit/(loss) attributable to:

Owners of the parent

105,979

(337,837

)

FIXED ASSETS

Tangible assets

7

268,625

332,207

Investments

8

-

268,625

332,207

CURRENT ASSETS

Debtors

9

855,646

1,010,483

Investments

10

390,338

245,569

Prepayments and accrued income

38,761

74,413

Cash at bank

786,468

655,106

2,071,213

1,985,571

CREDITORS

Amounts falling due within one year

11

451,795

444,787

NET CURRENT ASSETS

1,619,418

1,540,784

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,888,043

1,872,991

ACCRUALS AND DEFERRED INCOME

5,173

96,100

NET ASSETS

1,882,870

1,776,891

CAPITAL AND RESERVES

Called up share capital

25,000

Other reserves

68,639

Retained earnings

1,789,231

1,683,252

SHAREHOLDERS' FUNDS

1,882,870

1,776,891

The company and the group are entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2026.

The members have not required the company and the group to obtain an audit of its financial statements for the year ended 30 June 2026 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the group keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company and the group as at the end of each financial year and of the group's profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company and the group.

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

The financial statements were approved by the director and authorised for issue on 18 August 2026 and were signed by:

H G Queiro - Director

FIXED ASSETS

Tangible assets

7

174,324

216,958

Investments

8

40,000

214,324

256,958

CURRENT ASSETS

Debtors

9

790,533

970,564

Investments

10

390,338

245,569

Cash at bank

598,515

536,899

1,779,386

1,753,032

CREDITORS

Amounts falling due within one year

11

945,180

1,007,418

NET CURRENT ASSETS

834,206

745,614

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,048,530

1,002,572

ACCRUALS AND DEFERRED INCOME

5,173

96,100

NET ASSETS

1,043,357

906,472

CAPITAL AND RESERVES

Called up share capital

25,000

Retained earnings

1,018,357

881,472

SHAREHOLDERS' FUNDS

1,043,357

906,472

Company's profit/(loss) for the financial year

136,885

(404,454

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2026 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

The financial statements were approved by the director and authorised for issue on 18 August 2026 and were signed by:

H G Queiro - Director

1.	STATUTORY INFORMATION

Clear Cut Pictures Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the General Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on cost and in accordance with the property

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is not recognised in respect of all timing differences that have originated but not reversed at the balance sheet date on the grounds that there are losses available and future capital expenditure will offset any reversal of timing differences.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

At 30th June 2026 the maximum potential reversal (net of losses) is £nil and deferred tax not provided

£nil.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 53 (2025 - 58 ) .

The average number of employees by undertakings that were proportionately consolidated during the year was 2 (2025 - 2 ) .

4.	OPERATING PROFIT/(LOSS)

The operating profit (2025 - operating loss) is stated after charging:

30.6.26

30.6.25

£

Depreciation - owned assets

151,074

228,250

5.

TAXATION

Analysis of the tax charge

The tax charge on the profit for the year was as follows:

30.6.26

30.6.25

£

Current tax:

UK corporation tax

1,456

145

Tax on profit/(loss)

1,456

145

At 30th June 202 there were group tax losses of £610,000 (2025 - £649,000) available to set against future profits.

6.	INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.

7.	TANGIBLE FIXED ASSETS

Group

Plant and

machinery

etc

£

COST

At 1 July 2025

2,960,642

Additions

87,492

At 30 June 2026

3,048,134

DEPRECIATION

At 1 July 2025

2,628,435

Charge for year

151,074

At 30 June 2026

2,779,509

NET BOOK VALUE

At 30 June 2026

268,625

At 30 June 2025

332,207

Company

Plant and

machinery

etc

£

COST

At 1 July 2025

2,684,811

Additions

87,492

At 30 June 2026

2,772,303

DEPRECIATION

At 1 July 2025

2,467,853

Charge for year

130,126

At 30 June 2026

2,597,979

NET BOOK VALUE

At 30 June 2026

174,324

At 30 June 2025

216,958

8.	FIXED ASSET INVESTMENTS

Company

Shares in

group

undertakings

£

COST

At 1 July 2025

and 30 June 2026

40,000

NET BOOK VALUE

At 30 June 2026

40,000

At 30 June 2025

40,000

9.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group

Company

30.6.26

30.6.25

30.6.26

30.6.25

£

Trade debtors

558,911

615,035

493,898

575,216

Other debtors

296,735

395,448

296,635

395,348

855,646

1,010,483

790,533

970,564

10.	CURRENT ASSET INVESTMENTS

Group

Company

30.6.26

30.6.25

30.6.26

30.6.25

£

Listed investments

390,338

245,569

390,338

245,569

11.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group

Company

30.6.26

30.6.25

30.6.26

30.6.25

£

Trade creditors

196,400

220,700

183,178

193,668

Amounts owed to group undertakings

-

521,305

603,906

Taxation and social security

231,660

204,084

217,668

190,630

Other creditors

23,735

20,003

23,029

19,214

451,795

444,787

945,180

1,007,418

12.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2026 and 30 June 2025:

30.6.26

30.6.25

£

H G Queiro

Balance outstanding at start of year

-

50,000

Amounts repaid

-

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

-

13.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is H G Queiro.