Company Registration No. 08424089 (England and Wales)
Organ Grinder Productions Limited
Annual report and unaudited financial statements
for the year ended 31 March 2024
Organ Grinder Productions Limited
Company information
Directors
Jonathan Cavendish
Andrew Serkis
Company number
08424089
Registered office
71 Queen Victoria Street
London
EC4V 4BE
Organ Grinder Productions Limited
Contents
Page
Directors' report
1
Statement of comprehensive income
2
Statement of financial position
3
Notes to the financial statements
4 - 7
Organ Grinder Productions 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 is that of film development.

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
Organ Grinder Productions Limited
Statement of comprehensive income
For the year ended 31 March 2024
2
2024
2023
£
£
Turnover
27,808
16,754
Cost of sales
(37,585)
(16,754)
Gross (loss)/profit
(9,777)
-
Administrative expenses
(3,472)
(3,305)
Operating loss
(13,249)
(3,305)
Other gains and losses
(28,900)
-
Loss before taxation
(42,149)
(3,305)
Taxation
-
0
-
0
Loss for the financial year
(42,149)
(3,305)
Total comprehensive income for the year
(42,149)
(3,305)

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

 

Organ Grinder Productions Limited
Statement of financial position
As at 31 March 2024
3
2024
2023
Notes
£
£
£
£
Current assets
Debtors
5
3,479
56,850
Cash at bank and in hand
6,204
257
9,683
57,107
Creditors: amounts falling due within one year
6
(61,973)
(67,248)
Net current liabilities
(52,290)
(10,141)
Capital and reserves
Called up share capital
7
1
1
Profit and loss reserves
(52,291)
(10,142)
Total equity
(52,290)
(10,141)

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 28 March 2025 and are signed on its behalf by:
Jonathan Cavendish
Director
Company Registration No. 08424089
Organ Grinder Productions Limited
Notes to the financial statements
For the year ended 31 March 2024
4
1
Accounting policies
Company information

Organ Grinder Productions 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 truerequired 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.

1.3
Turnover
Turnover represents amounts receivable on the sale of TV rights net of VAT.

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 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 are recoverable.

1.4
Intangible fixed assets other than goodwill

Development costs represent TV rights and are recognised at cost. They are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Amortisation 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:

Television programme rights
20%
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.

Organ Grinder Productions Limited
Notes to the financial statements (continued)
For the year ended 31 March 2024
1
Accounting policies (continued)
5
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 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.

1.7
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
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 are included in the income statement for the period.

2
Employees

The average monthly number of persons (excluding directors) employed by the company during the year was 0 (2023 - 0).

Organ Grinder Productions Limited
Notes to the financial statements (continued)
For the year ended 31 March 2024
6
3
Directors' remuneration

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

4
Intangible fixed assets
Television programme rights
£
Cost
At 1 April 2023 and 31 March 2024
6,366,665
Amortisation and impairment
At 1 April 2023 and 31 March 2024
6,366,665
Carrying amount
At 31 March 2024
-
0
At 31 March 2023
-
0
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
3,479
56,850
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
3,473
3,490
Amounts owed to group undertakings
56,500
33,950
Other creditors
2,000
29,808
61,973
67,248
7
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
Organ Grinder Productions Limited
Notes to the financial statements (continued)
For the year ended 31 March 2024
7
8
Financial commitments, guarantees and contingent liabilities
The company has entered into a fixed charge in favour of Aver Media Finance Limited in respect of the company's right, title and interest to the television programme over a loan facility made available by Aver Media Finance Limited.

The company has entered into a fixed and floating charge in favour of Sky UK Limited in respect of the company's right, title and interest to the television programme over funds made available by Sky UK Limited in order to produce the programme.
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.

10
Control

The immediate parent undertaking is Imaginarium TV 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.

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