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Registered number: 04325267









LUPUS FILMS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2024

 
LUPUS FILMS LIMITED
REGISTERED NUMBER: 04325267

STATEMENT OF FINANCIAL POSITION
AS AT 30 NOVEMBER 2024

2024
2023
£
£

Fixed assets
  

Tangible assets
 4 
93,932
106,232

Investments
 5 
451
451

  
94,383
106,683

Current assets
  

Debtors: amounts falling due within one year
 6 
194,634
798,678

Cash at bank and in hand
 7 
1,419,192
1,262,073

  
1,613,826
2,060,751

Creditors: amounts falling due within one year
 8 
(99,358)
(464,491)

Net current assets
  
 
 
1,514,468
 
 
1,596,260

Total assets less current liabilities
  
1,608,851
1,702,943

Provisions for liabilities
  

Deferred tax
 9 
(20,845)
(23,035)

  
 
 
(20,845)
 
 
(23,035)

Net assets
  
1,588,006
1,679,908


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
1,588,004
1,679,906

  
1,588,006
1,679,908


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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.
 
Page 1

 
LUPUS FILMS LIMITED
REGISTERED NUMBER: 04325267
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 NOVEMBER 2024


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 28 August 2025.




R Fielding
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
LUPUS FILMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

1.


General information

Lupus Films Limited is a private company limited by shares and registered in England and Wales. The address of the registered office is 124 Finchley Road, London, NW3 5JS and the address of its principal place of business is 339 Upper Street, London, N1 0PB.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

 
2.3

Revenue

Revenue comprises animation production services and studio rental and is recognised in the Statement of Income and Retained Earnings in the period in which the service is performed.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the lease term.

Page 3

 
LUPUS FILMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

2.Accounting policies (continued)

 
2.5

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Statement of Financial Position, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


Page 4

 
LUPUS FILMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

2.Accounting policies (continued)

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Short-term leasehold property
-
5 years straight line
Fixtures and fittings
-
25% reducing balance
Office equipment
-
25% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.10

Debtors

Short term debtors are measured at transaction price, less any impairment.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.12

Creditors

Short term creditors are measured at the transaction price.

 
2.13

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 5

 
LUPUS FILMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

2.Accounting policies (continued)

 
2.14

Dividends

Equity dividends are recognised when they become legally payable. Equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 0 (2023 - 14).


4.


Tangible fixed assets





Short-term leasehold property
Plant and machinery
Total

£
£
£



Cost or valuation


At 1 December 2023
73,560
343,622
417,182


Additions
-
14,251
14,251



At 30 November 2024

73,560
357,873
431,433



Depreciation


At 1 December 2023
59,492
251,458
310,950


Charge for the year on owned assets
3,517
23,034
26,551



At 30 November 2024

63,009
274,492
337,501



Net book value



At 30 November 2024
10,551
83,381
93,932



At 30 November 2023
14,068
92,164
106,232

Page 6

 
LUPUS FILMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

5.


Fixed asset investments





Unlisted investments

£



Cost or valuation


At 1 December 2023
451



At 30 November 2024
451





6.


Debtors

2024
2023
£
£


Trade debtors
130,403
638,106

Amounts owed by group undertakings
9,999
100,000

Other debtors
15,592
19,000

Prepayments and accrued income
38,640
41,572

194,634
798,678



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
1,419,192
1,262,073

1,419,192
1,262,073


Page 7

 
LUPUS FILMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
8,001
18,929

Corporation tax
2,451
196,269

Other taxation and social security
65,950
168,568

Other creditors
2,253
3,815

Accruals and deferred income
20,703
76,910

99,358
464,491



9.


Deferred taxation




2024


£






At beginning of year
(23,035)


Charged to profit or loss
2,190



At end of year
(20,845)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(20,845)
(23,035)

(20,845)
(23,035)


10.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £8,744 (2023 - £11,689) . Contributions totalling £1,531 (2023 - £3,185) were payable to the fund at the reporting date and are included in creditors.

Page 8

 
LUPUS FILMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

11.


Commitments under operating leases

At 30 November 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
50,000
50,000

Later than 1 year and not later than 5 years
112,500
162,500

162,500
212,500


12.


Related party transactions

During the year dividends totalling £287,422 (2023: £322,450) were paid to the directors of the Company.


13.


Controlling party

Throughout the current and preceeding year, the Company was under the control of its directors, by virtue of their shareholding.

 
Page 9