Company Registration No. 08166381 (England and Wales)
See-Saw Productions Limited
Financial statements
for the year ended 30 June 2024
Pages for filing with the registrar
See-Saw Productions Limited
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 6
See-Saw Productions Limited
Balance sheet
As at 30 June 2024
1
2024
2023
Notes
£
£
£
£
Current assets
Debtors
4
76,121
65,842
Cash at bank and in hand
16,092
2,219
92,213
68,061
Creditors: amounts falling due within one year
5
(1,056,018)
(791,156)
Net current liabilities
(963,805)
(723,095)
Capital and reserves
Called up share capital
6
3
3
Profit and loss reserves
8
(963,808)
(723,098)
Total equity
(963,805)
(723,095)

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

These financial statements have been prepared and delivered 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 31 March 2025 and are signed on its behalf by:
Emile Sherman
Director
Company Registration No. 08166381
See-Saw Productions Limited
Notes to the financial statements
For the year ended 30 June 2024
2
1
Accounting policies
Company information

See-Saw Productions Limited is a private company limited by shares incorporated in England and Wales. The registered office is 3rd Floor, 45 Folgate Street, London, E1 6GL.

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 company balance sheet shows net liabilities as at 30 June 20true24 of £963,805 (30 June 2023: £723,095). The directors have pledged to support the company for 12 months from the date of their approval of these financial statements. Given this support, the directors consider it appropriate to prepare the financial statements on a going concern basis.

1.3
Turnover

The turnover shown in the profit and loss account represents amounts receivable in respect of film development and production during the year, exclusive of Value Added Tax.

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 balance sheet 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.

See-Saw Productions Limited
Notes to the financial statements (continued)
For the year ended 30 June 2024
1
Accounting policies (continued)
3
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
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Where items recognised in other comprehensive income or equity are chargeable to or deductible for tax purposes, the resulting current or deferred tax expense or income is presented in the same component of comprehensive income or equity as the transaction or other event that resulted in the tax expense or income. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

See-Saw Productions Limited
Notes to the financial statements (continued)
For the year ended 30 June 2024
1
Accounting policies (continued)
4
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 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.

 

In the directors' opinion there are no critical judgements or key areas of estimation uncertainty in the financial statements.

3
Employees

The average monthly number of persons (excluding directors) employed by the company during the year was:

2024
2023
Number
Number
Total
-
0
-
0
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
-
0
3,750
Other debtors
76,121
62,092
76,121
65,842

Amounts owed by group undertakings due within one year are unsecured, interest free and repayable on demand.

See-Saw Productions Limited
Notes to the financial statements (continued)
For the year ended 30 June 2024
5
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
3,900
70,055
Amounts owed to parent undertaking
874,524
592,854
Taxation and social security
4,796
-
0
Other creditors
172,798
128,247
1,056,018
791,156

Amounts owed to parent undertakings due within one year are unsecured, interest free and repayable on demand.

6
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary share of £1 each
3
3
3
3
7
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
Moses Nyachae
Statutory Auditors:
Saffery LLP
Date of audit report:
1 April 2025
8
Profit and loss reserves
2024
2023
£
£
At the beginning of the year
(723,098)
(242,309)
Loss for the year
(240,710)
(480,789)
At the end of the year
(963,808)
(723,098)
9
Related party transactions

The company has taken advantage of the exemption under paragraph 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 wholly owned by a member of that group.

See-Saw Productions Limited
Notes to the financial statements (continued)
For the year ended 30 June 2024
6
10
Controlling party

As at 30 June 2024, the company is controlled by its parent company, See-Saw Films Limited, a company incorporated in England and Wales.

The largest and smallest group for which accounts are prepared, and to which the company belongs, is See-Saw Films Limited. Copies of the group accounts can be obtained from 45 Folgate Street, London, United Kingdom E1 6GL.

On 5th March 2025, 51% of the total issued share capital in See-Saw Films Limited was acquired by M&A Holdco Breteuil, a company incorporated in France and a subsidiary of Mediawan Holding SAS. On and from 5th March 2025 the Company's ultimate controlling parent company is Mediawan Holding SAS, a company incorporated in France who is a leading independent content production, distribution and licensing.

 

 

 

 

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