Company registration number 11349353 (England and Wales)
REWIND PRODUCTIONS LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
REWIND PRODUCTIONS LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
REWIND PRODUCTIONS LTD
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Debtors
3
1,875,914
923,308
Cash at bank and in hand
1,233
1,331
Net current assets
1,877,147
924,639
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
1,877,146
924,638
Total equity
1,877,147
924,639

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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

The financial statements were approved by the board of directors and authorised for issue on 20 August 2025 and are signed on its behalf by:
Solomon Rogers
Director
Company registration number 11349353 (England and Wales)
REWIND PRODUCTIONS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
1
Accounting policies
Company information

Rewind Productions Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 20 High Street, St.Albans, England, AL3 4EL.

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 considered the resources available for the company to continue operational existence. The company is reliant on the immediate parent entity for its continued activity and revenue generation. Such support is dependent upon the ultimate parent company’s own operational existence and the completion of a continuing round of fundraising with the next round being expected to take place during Q3 2025. Although the Directors believe the ultimate parent entity will be able to provide sufficient support to the company for the foreseeable future there is a material uncertainty until the round of fundraising is completed. Nevertheless the directors have adopted the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided to the parent company in the normal course of business, and is shown net of VAT and other sales related taxes.

1.4
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 and cash and bank balances, 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.

1.5
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.

1.6
Taxation

The tax income represents the sum of the tax currently receivable.

REWIND PRODUCTIONS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 3 -
Current tax

The tax currently recoverable is based on the expected tax rebate for the year as a result of the video games tax credit. 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 receivable for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

2
Employees

There were no employees during current and previous year.

3
Debtors
2024
2023
Amounts falling due within one year:
£
£
Corporation tax recoverable
1,875,914
655,567
Amounts owed by group undertakings
-
0
267,741
1,875,914
923,308
4
Ultimate parent undertaking and controlling party

The immediate parent company is Magnopus Ltd, a company incorporated in the England and Wales with registered office at 20 High Street, St. Albans, England, AL3 4EL

 

The ultimate parent company is Magnopus Holdings Inc., a company incorporated in the USA with registered office at 523 West 6th Street, Suite 330, Los Angeles, 90014, USA.

 

The results for the year ended 31 December 2024 are included in the consolidated accounts of Magnopus LLC.

 

The address of the parent's registered office is 523 West 6th Street, Suite 330, Los Angeles, 90014, USA.

 

5
Related party transactions

The company has taken advantage of the exemption available in FRS 102 Section 33.1(a), from disclosing transactions 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.

6
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 is unqualified and includes the following:

REWIND PRODUCTIONS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
6
Audit report information
(Continued)
- 4 -
Opinion

In our opinion the financial statements:

Material uncertainty relating to going concern

We draw attention to Note 1.2 in the financial statements which indicates that the company is reliant on the support of the ultimate parent entity to continue as a going concern. Such support is dependent upon the ultimate parent entity completing a continued round of fundraising, the next fundraising round is expected to take place in Q3 2025. However as this is not guaranteed, there is uncertainty over the ability of the ultimate parent entity to continue to support the company. As such a material uncertainty exists that may cause a significant doubt on the company's ability to continue as a going concern. Our opinion is not modified in respect of this matter.

 

In auditing the financial statements, we have concluded that the directors use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

 

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Senior Statutory Auditor:
Mandy Janes
Statutory Auditor:
HW Fisher Audit
Date of audit report:
20 August 2025
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