Company Registration No. 06748913 (England and Wales)
Cinemanx Productions Two Limited
Unaudited accounts
for the period from 26 March 2023 to 31 March 2024
Cinemanx Productions Two Limited
Unaudited accounts
Contents
Cinemanx Productions Two Limited
Company Information
for the period from 26 March 2023 to 31 March 2024
Directors
S J Ingrassia
K S Ellis
Company Number
06748913 (England and Wales)
Registered Office
CANNON PLACE
78 CANNON STREET
LONDON
EC4N 6AF
ENGLAND
Cinemanx Productions Two Limited
Statement of financial position
as at 31 March 2024
Cash at bank and in hand
87,238
99,013
Creditors: amounts falling due within one year
(121,338)
(115,566)
Net current liabilities
(31,468)
(13,547)
Net liabilities
(31,468)
(13,547)
Called up share capital
2
2
Profit and loss account
(31,470)
(13,549)
Shareholders' funds
(31,468)
(13,547)
For the period ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 13 February 2025 and were signed on its behalf by
S J Ingrassia
Director
Company Registration No. 06748913
Cinemanx Productions Two Limited
Notes to the Accounts
for the period from 26 March 2023 to 31 March 2024
Cinemanx Productions Two Limited is a private company, limited by shares, registered in England and Wales, registration number 06748913. The registered office is CANNON PLACE, 78 CANNON STREET, LONDON, EC4N 6AF, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous period, and also have been consistently applied within the same accounts.
Repayment of the amounts due from Cinemanx Limited and its subsidiary entities (the "Cinemanx Group") to The Isle of Man Treasury (see note 7) will not be called for repayment until a full review of the financial position of the Cinemanx Group has been completed and the Isle of Man Treasury has confirmed that they will not enforce repayment where the company has insufficient liquid assets to satisfy any demand for repayment, thus allowing the company to continue as a going concern.
The accounts are presented in £ sterling.
Income and expenditure is recognised on an accruals bases.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Cash and cash equivalents
Cash and cash equivalents in the statement of financial position comprise cash at banks and in hand.
Short-term debtors and creditors
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in profit or loss in other operating expenses.
Group financial statements
Group financial statements have not been prepared as the group is exempt from preparing consolidated financial statements under FRS102 as it has taken advantage of the exemption afforded for small companies.
Under FRS 102, the company is exempt from the requirement to prepare a statement of cash flows on the grounds that it qualifies as a small entity.
Cinemanx Productions Two Limited
Notes to the Accounts
for the period from 26 March 2023 to 31 March 2024
Amounts falling due within one year
Accrued income and prepayments
2,100
2,055
5
Creditors: amounts falling due within one year
2024
2023
Trade creditors
3,196
1,352
Amounts owed to group undertakings and other participating interests
101,507
101,507
Other creditors
12,911
11,047
Loan payable to the shareholder of £101,507 (2023: £101,507) (see note 9). The loan is secured over the Assigned Property (see note 7).
Charges have been registered in favour of Cinemanx Limited against the film "The Disappearance of Alice Creed" (the "Assigned Property") to secure the outstanding debts of the company and Cinemanx Films Two Limited, the company's immediate parent (see note 9).
7
Transactions with related parties
As at the reporting date, two of the directors of the company were also directors of Boston Limited (“Boston”). During the period, an amount of GBP16,959 (2023: GBP9,021) was paid to Boston in their capacity as administrators of the company, an amount of GBP3,714 (2023: GBP1,661) was accrued, an amount of GBP2,100 (2023: GBP2,055) was prepaid and an amount of GBP3,196 (2023: GBP1,352) was owed as at the reporting date. All services have been provided on an arm’s length basis at the standard commercial terms of Boston.
As at the reporting date, the entire issued share capital of the company was held by Cinemanx Films Two Limited. The ultimate beneficial owner is Cinemanx Limited. In December 2020 Cinemanx Limited was acquired by the Isle of Man Treasury, a department of the Isle of Man Government.
9
Post balance sheet events
Since the reporting date, the company entered into a loan facility with Cinemanx Limited and subsequently has granted loan facilities up to GBP100,000 to fellow subsidiaries, Cinemanx Films One Limited and Cinemanx Films Three Limited. The loans are unsecured, interest free and repayable after service of written demand to the extent that there are sufficient liquid assets to satisfy the demand and only after the payment of all other liabilities.
10
Average number of employees
During the period the average number of employees was 0 (2023: 0).