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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
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
 
 		 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:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. 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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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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