Company Registration No. 14844052 (England and Wales)
Whoniverse2 Ltd
Annual report and financial statements
for the period ended 31 October 2024
Whoniverse2 Ltd
Company information
Directors
Mary Furlong
Julie Gardner
Natasha Hale
Pauline Tranter
Company number
14844052
Registered office
Wolf Studios Wales Trident Industrial Park
Glass Avenue
Cardiff
CF24 5EN
Independent auditor
Saffery LLP
71 Queen Victoria Street
London
ECV4 4BE
Whoniverse2 Ltd
Contents
Page
Strategic report
1
Directors' report
2
Directors' responsibilities statement
3
Independent auditor's report
4 - 6
Statement of comprehensive income
7
Statement of financial position
8
Statement of changes in equity
9
Notes to the financial statements
10 - 17
Whoniverse2 Ltd
Strategic report
For the period ended 31 October 2024
1

The directors present the strategic report for the period ended 31 October 2024.

Review of the business

During the period, the company was involved in the production of a television series. The company made a profit of £nil in the period. The company's net assets as at the balance sheet date is £1 (31 March 2024: £1).

Principal risks and uncertainties

The directors have reviewed the risks and resultant uncertainties facing the business as being the ability to secure future contracts. However the parent company has provided assurances that it will continue to support the company and provide the necessary finances for its future operations.

Development and performance

The directors do not anticipate any significant future developments in the company.

Key performance indicators

The directors consider the company's key financial performance indicators to be whether the programme is produced in line with the agreed budget. At the period end, the estimated cost of the programme was in line with the budget plus approved overages.

 

The directors consider the company's key non-financial performance indicators to be whether the programme being produced will qualify as British. This is required in order to access the High End Television Tax credit and Audio Visual Expenditure Credit. The programme has received an interim British High End Television Certificate in respect of the series it is producing and the directors do not currently anticipate any issues with the ability of the company to obtain the final certificate in respect of the series in due course.

On behalf of the board

Mary Furlong
Director
6 February 2025
Whoniverse2 Ltd
Directors' report
For the period ended 31 October 2024
2

The directors present their annual report and financial statements for the period ended 31 October 2024.

Principal activities

The principal activity of the company is that of television production.

Results and dividends

The results for the period are set out on page 7.

No ordinary dividends were paid. The directors do not recommend payment of a final dividend.

Directors

The directors who held office during the period and up to the date of signature of the financial statements were as follows:

Mary Furlong
Julie Gardner
Natasha Hale
Pauline Tranter
Auditor

Saffery LLP were appointed as auditor to the company and in accordance with section 485 of the Companies Act 2006, a resolution proposing that they be re-appointed will be put at a General Meeting.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

Medium-sized companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the medium-sized companies exemption.

On behalf of the board
Mary Furlong
Director
6 February 2025
Whoniverse2 Ltd
Directors' responsibilities statement
For the period ended 31 October 2024
3

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

 

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 (United Kingdom Accounting Standards and applicable law).

 

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 of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

 

 

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.

Whoniverse2 Ltd
Independent auditor's report
To the members of Whoniverse2 Ltd
4
Opinion

We have audited the financial statements of Whoniverse2 Ltd (the 'company') for the period ended 31 October 2024 which comprise the statement of comprehensive income, the statement of financial position, the statement of changes in equity and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

 

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

 

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

 

We have nothing to report in this regard.

Whoniverse2 Ltd
Independent auditor's report (continued)
To the members of Whoniverse2 Ltd
5

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

 

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors' report.

 

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

 

Responsibilities of directors

As explained more fully in the directors' responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

 

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud are detailed below.

 

Identifying and assessing risks related to irregularities:

We assessed the susceptibility of the company’s financial statements to material misstatement and how fraud might occur, including through discussions with the directors, discussions within our audit team planning meeting, updating our record of internal controls and ensuring these controls operated as intended. We evaluated possible incentives and opportunities for fraudulent manipulation of the financial statements. We identified laws and regulations that are of significance in the context of the company by discussions with directors and by updating our understanding of the sector in which the company operates.

 

Laws and regulations of direct significance in the context of the company include The Companies Act 2006 and UK Tax legislation, specifically legislation relating to creative industry tax credits.

Whoniverse2 Ltd
Independent auditor's report (continued)
To the members of Whoniverse2 Ltd
6

In addition, the company is subject to other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to its ability to operate or to avoid a material penalty. These include anti-bribery legislation, employment law and health and safety regulations.

 

Audit response to risks identified

We considered the extent of compliance with these laws and regulations as part of our audit procedures on the related financial statement items including a review of financial statement disclosures. We reviewed the company's records of breaches of laws and regulations, minutes of meetings and correspondence with relevant authorities to identify potential material misstatements arising. We discussed the company's policies and procedures for compliance with laws and regulations with members of management responsible for compliance.

During the planning meeting with the audit team, the engagement partner drew attention to the key areas which might involve non-compliance with laws and regulations or fraud. We enquired of management whether they were aware of any instances of non-compliance with laws and regulations or knowledge of any actual, suspected or alleged fraud. We addressed the risk of fraud through management override of controls by testing the appropriateness of journal entries and identifying any significant transactions that were unusual or outside the normal course of business. We assessed whether judgements made in making accounting estimates gave rise to a possible indication of management bias. At the completion stage of the audit, the engagement partner’s review included ensuring that the team had approached their work with appropriate professional scepticism and thus the capacity to identify non-compliance with laws and regulations and fraud.

There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Darren Drake
Senior Statutory Auditor
For and on behalf of Saffery LLP
7 February 2025
Statutory Auditors
71 Queen Victoria Street
London
ECV4 4BE
Whoniverse2 Ltd
Statement of comprehensive income
For the period ended 31 October 2024
7
Period
Period
ended
ended
31 October
31 March
2024
2024
Notes
£
£
Turnover
3
19,591,749
32,771,716
Cost of sales
(25,032,865)
(40,521,212)
Gross loss
(5,441,116)
(7,749,496)
Administrative expenses
(26,000)
(32,000)
Other operating income
5,467,116
3,800,760
Loss before taxation
-
0
(3,980,736)
Tax on loss
6
-
0
3,980,736
Profit for the financial period
-
0
-
0

The income statement has been prepared on the basis that all operations are continuing operations.

Whoniverse2 Ltd
Statement of financial position
As at 31 October 2024
8
31 October 2024
31 March 2024
Notes
£
£
£
£
Current assets
Debtors
7
8,413,030
11,286,459
Cash at bank and in hand
32,685
1,136,070
8,445,715
12,422,529
Creditors: amounts falling due within one year
8
(8,445,714)
(12,422,528)
Net current assets
1
1
Capital and reserves
-
-
Called up share capital
10
1
1
The financial statements were approved by the board of directors and authorised for issue on 6 February 2025 and are signed on its behalf by:
Mary Furlong
Director
Company Registration No. 14844052
Whoniverse2 Ltd
Statement of changes in equity
For the period ended 31 October 2024
9
Share capital
Notes
£
Balance at 3 May 2023
-
0
Period ended 31 March 2024:
Profit and total comprehensive income
-
Issue of share capital
10
1
Balance at 31 March 2024
1
Period ended 31 October 2024:
Profit and total comprehensive income
-
Balance at 31 October 2024
1
Whoniverse2 Ltd
Notes to the financial statements
For the period ended 31 October 2024
10
1
Accounting policies
Company information

Whoniverse2 Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Wolf Studios Wales Trident Industrial Park, Glass Avenue, Cardiff, CF24 5EN.

1.1
Reporting period

The reporting period commenced on 1 April 2024 and its period end is 31 October 2024, to align the stage of the production. The current period therefore covers less than 1 year.

1.2
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.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts 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.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:

 

 

The financial statements of the company are consolidated in the financial statements of Sony Group Corporation. These consolidated financial statements are available from its registered office, see Note 12.

1.3
Going concern

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

Whoniverse2 Ltd
Notes to the financial statements (continued)
For the period ended 31 October 2024
1
Accounting policies (continued)
11
1.4
Turnover

In respect of long-term contracts for ongoing services, turnover represents the value of work done in the period, including estimates for amounts not invoiced. Value of work done is respect of long-term contracts and contracts for ongoing services is determine by reference to the stage of completion.

 

The "percentage of completion method" is used to determine the appropriate amount to recognise in a given period. The stage of completion is measured by the proportion of contract costs incurred for work performed to date compared to the estimated total contract costs. Costs incurred in the period in connection with future activity on a contract are excluded from contract costs in determining the stage of completion. These costs are represented as stocks, prepayments or other assets depending on their nature, and provided it is probable they will be recovered.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
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 statement of financial position 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, 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.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Whoniverse2 Ltd
Notes to the financial statements (continued)
For the period ended 31 October 2024
1
Accounting policies (continued)
12
Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

 

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

 

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

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 payments 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. Amounts 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.

Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

 

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Whoniverse2 Ltd
Notes to the financial statements (continued)
For the period ended 31 October 2024
1
Accounting policies (continued)
13
Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.7
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.

1.8
Taxation

The tax expense represents the sum of the tax currently recoverable.

Current tax

The tax currently recoverable is based on relievable losses arising in the period as a the result of High End Television tax relief legislation. Relievable losses differ from net losses as reported in the income statement because they include an additional deduction relating to qualifying television development expenditure and exclude items of income or expense that are taxable or deductible in other periods and it further excludes items that are never taxable or deductible. The company’s tax position is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

1.9
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.

1.10
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.11
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

Amounts due from lessees under finance leases are recognised as receivables at the amount of the company’s net investment in the leases. Finance lease income is allocated to accounting periods so as to reflect a constant periodic rate of return on the company’s net investment outstanding in respect of leases.

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

Whoniverse2 Ltd
Notes to the financial statements (continued)
For the period ended 31 October 2024
1
Accounting policies (continued)
14
1.12
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2
Critical accounting judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Tax credit

The key accounting estimate within the financial statements for this company is the valuation of the high-end TV tax credit available. The estimate is based on the assessment of the value of qualifying expenditure as per HMRC legislations and guidance plus assessment of the qualification of the underlying production as eligible for the tax relief.

AVEC

The other key accounting estimate within the financial statements for this company is the valuation of the Audio Visual Expenditure Credit available. The estimate is based on the assessment of the value of qualifying expenditure as per HMRC legislations and guidance plus assessment of the qualification of the underlying production as eligible for the credit.

 

In the directors' opinion, there were no other critical judgements or other estimation uncertainties in these financial statements.

3
Turnover and other revenue
2024
2024
£
£
Turnover analysed by class of business
Sales of television programme rights
19,591,749
32,771,716
Whoniverse2 Ltd
Notes to the financial statements (continued)
For the period ended 31 October 2024
3
Turnover and other revenue (continued)
15
2024
2024
£
£
Turnover analysed by geographical market
United Kingdom
19,591,749
32,771,716
2024
2024
£
£
Other revenue
Government grants
5,467,116
3,800,760

Government grants

Government grants received during the period relate entirely to the Audio Visual Expenditure Credit claimed in respect of a high end television production.

4
Operating profit/(loss)
2024
2024
Operating profit/(loss) for the period is stated after charging/(crediting):
£
£
Government grants
(5,467,116)
(3,800,760)
Fees payable to the company's auditor for the audit of the company's financial statements
15,500
18,000
Fees payable to the company's auditor for non-audit services
10,500
14,000
5
Employees

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

2024
2024
Number
Number
Production staff
124
125

Their aggregate remuneration comprised:

2024
2024
£
£
Wages and salaries
2,296,017
4,470,168
Social security costs
265,809
512,116
Pension costs
32,697
40,080
2,594,523
5,022,364
Whoniverse2 Ltd
Notes to the financial statements (continued)
For the period ended 31 October 2024
16
6
Taxation
2024
2024
£
£
Current tax
UK corporation tax on profits for the current period
-
0
(3,980,736)

The actual charge/(credit) for the period can be reconciled to the expected credit for the period based on the profit or loss and the standard rate of tax as follows:

2024
2024
£
£
Profit/(loss) before taxation
-
0
(3,980,736)
Expected tax credit based on the standard rate of corporation tax in the UK of
25% (period ended 31 March 2024: 25%)
-
0
(995,184)
Enhanced losses arising from the HETV tax credit
-
0
(3,601,748)
Losses carried forward
-
0
616,196
Taxation charge/(credit) for the period
-
(3,980,736)
7
Debtors
2024
2024
Amounts falling due within one year:
£
£
Corporation tax recoverable
-
0
3,980,736
Amounts owed by group undertakings
626,553
177,378
Government grants receivable
5,420,086
3,800,760
Other debtors
1,449,754
3,033,011
Prepayments and accrued income
916,637
294,574
8,413,030
11,286,459
8
Creditors: amounts falling due within one year
2024
2024
£
£
Trade creditors
6,264,000
371,803
Amounts owed to group undertakings
-
0
794,734
Other creditors
162,624
7,486,692
Accruals and deferred income
2,019,090
3,769,299
8,445,714
12,422,528
Whoniverse2 Ltd
Notes to the financial statements (continued)
For the period ended 31 October 2024
17
9
Retirement benefit schemes
2024
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
32,697
40,080

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

10
Share capital
October
March
October
March
2024
2024
2024
2024
Ordinary share capital
£
£
£
£
Issued and fully paid
Ordinary shares of £1 each
1
1
1
1
11
Related party transactions

The company has taken advantage of the exemption under paragraph 33.1a of FRS 102 from disclosing transactions entered into between two or more members of a group, where any subsidiary undertaking which is party to the transaction is wholly owned by a member of that group.

 

The company incurred costs of £619,587 (period ended 31 March 2024 £nil) with Pixomondo UK Limited, a company under common control. £320,000 of this was invoiced and paid in the period (period ended 31 March 2024: £nil). £299,587 was accrued at the period end and therefore outstanding (period ended 31 March 2024: £nil).

12
Ultimate controlling party

The company's immediate parent company is Bad Wolf Ltd, a company registered in England and Wales.

 

The company's ultimate parent company is Sony Group Corporation, a company registered in Japan.

 

The directors of Bad Wolf Ltd consider there to be no one ultimate controlling party.

 

The largest group in which the results of the company are consolidated is that headed by Sony Group Corporation. The financial statements for Sony Group Corporation are publicly available and can be obtained from Baker & McKenzie, 100 New Bridge Street, London EC4V 6JA.

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