Company Registration No. 08423203 (England and Wales)
Imaginarium TV Limited
Annual report and unaudited financial statements
for the year ended 31 March 2024
Imaginarium TV Limited
Company information
Directors
Philip Robertson
Jonathan Cavendish
Andrew Serkis
Company number
08423203
Registered office
71 Queen Victoria Street
London
EC4V 4BE
Imaginarium TV Limited
Contents
Page
Directors' report
1
Statement of comprehensive income
2
Statement of financial position
3
Notes to the financial statements
4 - 8
Imaginarium TV 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 was that of television programme production.

Directors

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

Philip Robertson
Jonathan Cavendish
Andrew Serkis
Statement of directors' responsibilities

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.

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
Imaginarium TV Limited
Statement of comprehensive income
For the year ended 31 March 2024
2
2024
2023
Notes
£
£
Turnover
255,063
233,670
Cost of sales
(8,367)
-
0
Gross profit
246,696
233,670
Administrative expenses
(134,599)
(32,460)
Operating profit
112,097
201,210
Other gains and losses
(372,683)
-
(Loss)/profit before taxation
(260,586)
201,210
Taxation
-
0
-
0
(Loss)/profit for the financial year
(260,586)
201,210
Total comprehensive income for the year
(260,586)
201,210

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

Imaginarium TV Limited
Statement of financial position
As at 31 March 2024
3
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
5
1
1
Current assets
Debtors
7
279,152
385,107
Cash at bank and in hand
34,443
177,354
313,595
562,461
Creditors: amounts falling due within one year
8
(59,601)
(47,881)
Net current assets
253,994
514,580
Net assets
253,995
514,581
Capital and reserves
Called up share capital
9
1
1
Profit and loss reserves
253,994
514,580
Total equity
253,995
514,581

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. 08423203
Imaginarium TV Limited
Notes to the financial statements
For the year ended 31 March 2024
4
1
Accounting policies
Company information

Imaginarium TV Limited is a private company limited by shares incorporated in England and Wales. The registered office is 71 Queen Victoria Street, London, 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.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts. The financial statements present information about the company as an individual entity and not about its group.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computer equipment
3 year straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
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.

Imaginarium TV Limited
Notes to the financial statements (continued)
For the year ended 31 March 2024
1
Accounting policies (continued)
5

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.

1.5
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.

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 trade and other 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 receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as 'creditors: amounts falling due within one year' if payment is due within one year or less. If not, they are presented as 'creditors: amounts falling due after more than one year'. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Imaginarium TV Limited
Notes to the financial statements (continued)
For the year ended 31 March 2024
1
Accounting policies (continued)
6
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
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.

1.9
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

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 year was 0 (2023: 0).

Imaginarium TV Limited
Notes to the financial statements (continued)
For the year ended 31 March 2024
7
4
Tangible fixed assets
Computer equipment
£
Cost
At 1 April 2023 and 31 March 2024
1,249
Depreciation and impairment
At 1 April 2023 and 31 March 2024
1,249
Carrying amount
At 31 March 2024
-
0
At 31 March 2023
-
0
5
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
1
1
Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 1 April 2023 & 31 March 2024
1
Carrying amount
At 31 March 2024
1
At 31 March 2023
1
6
Subsidiaries

Under the provision of section 399 of the Companies Act 2006 the company is exempt from preparing consolidated financial statements and has not done so, therefore the financial statements show information about the company as an individual entity.

These financial statements are separate company financial statements for Imaginarium TV Limited.

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

Name of undertaking
Registered office
Nature of business
Class of shares held
% Held
Direct
Organ Grinder Productions Limited
United Kingdom
TV project development
Ordinary
100
Imaginarium TV Limited
Notes to the financial statements (continued)
For the year ended 31 March 2024
6
Subsidiaries (continued)
8
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)
£
£
Organ Grinder Productions Limited
(52,290)
(42,149)

The investments in subsidiaries are all stated at cost.

7
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
275,979
372,681
Other debtors
3,173
12,426
279,152
385,107
8
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
4,286
15,067
Amounts owed to group undertakings
38,104
-
0
Other creditors
17,211
32,814
59,601
47,881
9
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary share of £1 each
1
1
1
1
10
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.

11
Control

The parent undertaking at the year end date was Imaginarium Holdings Limited, a company registered in England and Wales.

 

As at the period end, Jonathan Cavendish and Andrew Serkis are considered to be the ultimate controlling parties, by virtue of their shareholding in the ultimate parent company, Jessop Avenue (No.18) Limited.

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