Company Registration No. 12964422 (England and Wales)
Jessop Avenue (No.18) Limited
Annual report and unaudited financial statements
for the year ended 31 March 2024
Jessop Avenue (No.18) Limited
Company information
Directors
Jonathan Cavendish
Philip Robertson
Andrew Serkis
Company number
12964422
Registered office
71 Queen Victoria Street
London
EC4V 4BE
Jessop Avenue (No.18) Limited
Contents
Page
Directors' report
1
Income statement
2
Statement of financial position
3
Notes to the financial statements
4 - 9
Jessop Avenue (No.18) Limited
Directors' report
For the year ended 31 March 2024
1

The directors present their annual report and financial statements for the year ended 31 March 2024.

Principal activities

The principal activity of the company continued to be that of acting as a holding company for a group of production companies.

Directors

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

Jonathan Cavendish
Philip Robertson
Andrew Serkis
Going concern considerations

The directors have confirmed their intention to continue to provide financial support where required to enable the company and its subsidiaries to meet its obligations for the foreseeable future. Accordingly, the board of directors are satisfied that it is appropriate to prepare the accounts on a going concern basis.

Small companies exemption

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

On behalf of the board
Philip Robertson
Director
26 March 2025
Jessop Avenue (No.18) Limited
Income statement
For the year ended 31 March 2024
2
2024
2023
£
£
Other gains and losses
103,660
-
Profit before taxation
103,660
-
0
Tax on profit
-
0
-
0
Profit for the financial year
103,660
-
0

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

Jessop Avenue (No.18) Limited
Statement of financial position
As at 31 March 2024
3
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
6
233,199
233,199
Current assets
Debtors
8
2,001
2,001
Creditors: amounts falling due within one year
9
(4,690)
(106,005)
Net current liabilities
(2,689)
(104,004)
Net assets
230,510
129,195
Capital and reserves
Called up share capital
10
135,200
135,200
Profit and loss reserves
95,310
(6,005)
Total equity
230,510
129,195

For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These 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 board of directors and authorised for issue on 26 March 2025 and are signed on its behalf by:
Philip Robertson
Director
Company Registration No. 12964422
Jessop Avenue (No.18) Limited
Notes to the financial statements
For the year ended 31 March 2024
4
1
Accounting policies
Company information

Jessop Avenue (No.18) Limited is a private company limited by shares incorporated in England and Wales. The registered office is 71 Queen Victoria Street, London, United Kingdom, EC4V 4BE.

1.1
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 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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.

1.2
Going concern

The directors have confirmed their intention to continue to provide financial support where required totrue enable the company to meet its obligations for the foreseeable future. Accordingly, the board of directors are satisfied that it is appropriate to prepare the accounts on a going concern basis.

1.3
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.4
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.

Jessop Avenue (No.18) Limited
Notes to the financial statements (continued)
For the year ended 31 March 2024
1
Accounting policies (continued)
5
1.5
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.

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.

1.6
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.

1.7
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.

Jessop Avenue (No.18) Limited
Notes to the financial statements (continued)
For the year ended 31 March 2024
6
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.

3
Employees

The average monthly number of persons (excluding directors) employed by the company during the period was nil (2023: nil).

4
Directors' remuneration

The company did not pay emoluments to the directors in the year (2023: £Nil).

5
Dividends
2024
2023
£
£
Dividends payable on irredeemable preference shares
2,345
2,345
6
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
233,199
233,199
7
Subsidiaries

Details of the company's subsidiaries at 31 March 2024 are as follows:

Jessop Avenue (No.18) Limited
Notes to the financial statements (continued)
For the year ended 31 March 2024
7
Subsidiaries (continued)
7
Name of undertaking
Registered office
Class of shares held
% Held
Direct
Indirect
Animal Farm Films Limited
United Kingdom
Ordinary
-
100.00
Breathe Films Limited
United Kingdom
Ordinary
-
100.00
Scary Goat Limited
United Kingdom
Ordinary
-
100.00
Caveman Films Holdings Limited
United Kingdom
Ordinary
-
100.00
Imaginarium TV Limited
United Kingdom
Ordinary
-
100.00
Organ Grinder Productions Limited
United Kingdom
Ordinary
-
100.00
Scribe Productions Limited
United Kingdom
Ordinary
-
100.00
Two Spirits Inc.
Hawaii
Ordinary
-
100.00
Imaginarium Productions Limited
United Kingdom
Ordinary
-
100.00
Spells Trouble Limited
United Kingdom
Ordinary
-
100.00
NOGOA Limited
United Kingdom
Ordinary
-
100.00
Imaginarium Holdings Limited
United Kingdom
Ordinary
100.00
-
Paper Rose Productions Limited
United Kingdom
Ordinary
-
100.00
The aggregate capital and reserves and the result for the year of the subsidiaries noted above was as follows:
Name of undertaking
Capital and Reserves
Profit/(Loss)
£
£
Animal Farm Films Limited
(145,668)
(72,400)
Caveman Films Holdings Limited
(38,299)
(216,799)
Imaginarium TV Limited
253,996
(260,585)
Organ Grinder Productions Limited
(52,290)
(42,149)
Scribe Productions Limited
(126,276)
256,584
Two Spirits Inc.
100
-
Imaginarium Productions Limited
1,635,774
(835,945)
Spells Trouble Limited
100
-
NOGOA Limited
18,009
-
Imaginarium Holdings Limited
(112,211)
231,481
Paper Rose Productions Limited
(1,239)
(760)

The investments in subsidiaries are all stated at cost.

8
Debtors
2024
2023
Amounts falling due within one year:
£
£
Unpaid share capital
2,001
2,001
Jessop Avenue (No.18) Limited
Notes to the financial statements (continued)
For the year ended 31 March 2024
8
9
Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings
-
0
103,660
Other creditors
4,690
2,345
4,690
106,005
10
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and not fully paid
Ordinary shares of £1 each
87,000
87,000
87,000
87,000
Ordinary 'A' shares of 10p each
13,000
13,000
1,300
1,300
100,000
100,000
88,300
88,300
2024
2023
2024
2023
Preference share capital
Number
Number
£
£
Issued and fully paid
Preference shares of 10p each
469,000
469,000
46,900
46,900
Preference shares classified as equity
46,900
46,900
Total equity share capital
135,200
135,200

On 9 August 2021 the company issued 84,999 Ordinary shares of £1 each and 482,000 Preference shares of £0.10 each in exchange for 567 Ordinary shares of £1 each in Imaginarium Holdings Limited. Merger relief was applied in accordance with Section 612 of Companies Act 2006 and as such, no share premium has been recognised on the issue.

 

On 2 March 2022, the company issued 2,000 Ordinary shares of £1 each in exchange for cash at par value. The balance of £2,000 remained unpaid at the reporting date and is included in within debtors.

 

On 2 March 2022, the company redesignated 13,000 Preference shares to Ordinary 'A' shares, both of £0.10 each.

11
Related party transactions

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

Jessop Avenue (No.18) Limited
Notes to the financial statements (continued)
For the year ended 31 March 2024
9
12
Ultimate controlling party

As at the year end, Johnathan Cavendish and Andrew Serkis are considered to be the ultimate controlling parties, by virtue of their shareholding in the company.

2024-03-312023-04-01falseCCH SoftwareCCH Accounts Production 2024.210Jonathan CavendishPhilip RobertsonAndrew Serkisfalsefalse0129644222023-04-012024-03-3112964422bus:Director12023-04-012024-03-3112964422bus:Director22023-04-012024-03-3112964422bus:Director32023-04-012024-03-3112964422bus:RegisteredOffice2023-04-012024-03-31129644222024-03-31129644222022-04-012023-03-31129644222023-03-3112964422core:CurrentFinancialInstrumentscore:WithinOneYear2024-03-3112964422core:CurrentFinancialInstrumentscore:WithinOneYear2023-03-3112964422core:CurrentFinancialInstruments2024-03-3112964422core:CurrentFinancialInstruments2023-03-3112964422core:ShareCapital2024-03-3112964422core:ShareCapital2023-03-3112964422core:RetainedEarningsAccumulatedLosses2024-03-3112964422core:RetainedEarningsAccumulatedLosses2023-03-3112964422core:ShareCapitalOrdinaryShares2024-03-3112964422core:ShareCapitalOrdinaryShares2023-03-3112964422bus:PrivateLimitedCompanyLtd2023-04-012024-03-3112964422bus:FRS1022023-04-012024-03-3112964422bus:AuditExempt-NoAccountantsReport2023-04-012024-03-3112964422bus:FullAccounts2023-04-012024-03-31xbrli:purexbrli:sharesiso4217:GBP