Company Registration No. 08423238 (England and Wales)
Animal Farm Films Limited
Annual report and unaudited financial statements
for the year ended 31 March 2024
Animal Farm Films Limited
Company information
Directors
Jonathan Cavendish
Andrew Serkis
Company number
08423238
Registered office
71 Queen Victoria Street
London
EC4V 4BE
Animal Farm Films Limited
Contents
Page
Directors' report
1
Statement of comprehensive income
2
Statement of financial position
3
Notes to the financial statements
4 - 7
Animal Farm Films 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 film production.
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
Andrew Serkis
Going concern considerations
The directors have confirmed their intention to continue to provide financial support where required to 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.
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
Jonathan Cavendish
Director
28 March 2025
Animal Farm Films Limited
Statement of comprehensive income
For the year ended 31 March 2024
2
2024
2023
£
£
Cost of sales
(146,333)
(44,765)
Administrative expenses
(3,377)
(2,752)
Operating loss
(149,710)
(47,517)
Other gains and losses
77,310
-
Loss before taxation
(72,400)
(47,517)
Tax on loss
Loss for the financial year
(72,400)
(47,517)
Animal Farm Films Limited
Statement of financial position
As at 31 March 2024
3
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
4
1
1
Current assets
Debtors
6
1
1
Cash at bank and in hand
984
8,408
985
8,409
Creditors: amounts falling due within one year
7
(146,654)
(81,678)
Net current liabilities
(145,669)
(73,269)
Net liabilities
(145,668)
(73,268)
Capital and reserves
Called up share capital
8
1
1
Profit and loss reserves
(145,669)
(73,269)
Total equity
(145,668)
(73,268)
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 member has 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 28 March 2025 and are signed on its behalf by:
Jonathan Cavendish
Director
Company Registration No. 08423238
Animal Farm Films Limited
Notes to the financial statements
For the year ended 31 March 2024
4
1
Accounting policies
Company information
Animal Farm Films 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.
1.2
Going concern
The directors have confirmed their intention to continue to provide financial support where required to 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.true
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.
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.
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.
Animal Farm Films Limited
Notes to the financial statements (continued)
For the year ended 31 March 2024
1
Accounting policies (continued)
5
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
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
Employees
The average monthly number of persons (including directors) employed by the company during the year was 0 (2023: 0)
3
Directors' remuneration
During the year, the company incurred costs for the producing services of Jonathan Cavendish, a director of the company, totalling £90,000 (2023: £20,000).
Animal Farm Films Limited
Notes to the financial statements (continued)
For the year ended 31 March 2024
6
4
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
1
1
5
Joint ventures
Details of the company's joint ventures at 31 March 2024 are as follows:
Name of undertaking
Registered office
Interest
% Held
held
Direct
Indirect
Animal Farm Productions Limited
United Kingdom
Ordinary
50.00
-
Animal Farm Productions Limited is a joint venture with Aniventure Awesome Limited. The registered address of Animal Farm Productions Limited is 71 Queen Victoria Street, London, Uniter Kingdom, EC4V VBE.
In 2021, £1 of the company's investment in Animal Farm Productions Limited was sold to Aniventure Awesome Limited. Both parties have equal shares in the venture and neither party has overall control. Animal Farm Productions Limited's year end is 31 March.
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
1
Other debtors
1
1
1
7
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
2,868
Amounts owed to group undertakings
145,154
77,310
Other creditors
1,500
1,500
146,654
81,678
Animal Farm Films Limited
Notes to the financial statements (continued)
For the year ended 31 March 2024
7
8
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
9
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.
During the year, the company incurred costs for the producing services of Jonathan Cavendsih, a director of the company, totalling £90,000 (2023: £20,000). The balance outstanding at the year end is £Nil (2023: £Nil).
10
Ultimate controlling party
The immediate parent undertaking is Imaginarium Productions Limited, a company registered in England and Wales.
As at the year 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.