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Registered number: 12270703 VENTURELAND LIMITED FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 31 DECEMBER 2024
VENTURELAND LIMITED REGISTERED NUMBER: 12270703 CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2024
|  |  |  | As restated
|  | 2024 |  | 2023
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 4 |  | 9,308 |  | 6,332
Investments | 5 |  | 218,285 |  | 213,285
|  |  | 227,593 |  | 219,617
Current assets |  |  |  |  |
Stocks | 6 | - |  | 1,749,419 |
Debtors: amounts falling due within one year | 7 | 2,995,994 |  | 2,921,275 |
Cash at bank and in hand | 8 | 5,975,926 |  | 3,314,550 |
|  | 8,971,920 |  | 7,985,244 |
Creditors: amounts falling due within one year | 9 | (6,527,988) |  | (6,334,666) |
Net current assets |  |  | 2,443,932 |  | 1,650,578
Net assets |  |  | 2,671,525 |  | 1,870,195
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 1 |  | 1
Profit and loss account |  |  | 2,671,524 |  | 1,870,194
|  |  | 2,671,525 |  | 1,870,195
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 consolidated 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 by:
J Battsek
Director
Date: 10 September 2025
The notes on pages 3 to 12 form part of these financial statements. Page 1
VENTURELAND LIMITED REGISTERED NUMBER: 12270703 COMPANY STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2024
|  |  |  | As restated
|  | 2024 |  | 2023
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 4 |  | 9,308 |  | 6,332
Investments | 5 |  | 219,691 |  | 214,391
|  |  | 228,999 |  | 220,723
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 7 | 3,001,222 |  | 2,050,692 |
Cash at bank and in hand | 8 | 1,055,192 |  | 768,520 |
|  | 4,056,414 |  | 2,819,212 |
Creditors: amounts falling due within one year | 9 | (1,613,888) |  | (1,173,370) |
Net current assets |  |  | 2,442,526 |  | 1,645,842
Net assets |  |  | 2,671,525 |  | 1,866,565
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 1 |  | 1
Profit and loss account brought forward |  | 1,866,564 |  | 1,621,009 |
Profit for the year |  | 804,960 |  | 245,555 |
Profit and loss account carried forward |  |  | 2,671,524 |  | 1,866,564
|  |  | 2,671,525 |  | 1,866,565
The company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. 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 consolidated 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 by:
J Battsek
Director
Date: 10 September 2025
The notes on pages 3 to 12 form part of these financial statements. Page 2
VENTURELAND LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
1. | General information
Ventureland Limited is a private company limited by shares incorporated in the United Kingdom and registered in England and Wales. The address of its registered office is 4th Floor, 25 Store Street, London, WC1E 7BL. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The consolidated 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 company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of income and retained earnings in these financial statements. The following principal accounting policies have been applied:
| 2.2 | Basis of consolidation
The consolidated financial statements present the results of the company and its own subsidiaries ("the group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full. The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Statement of financial position, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated statement of comprehensive income from the date on which control is obtained. They are deconsolidated from the date control ceases. In accordance with the transitional exemption available in FRS 102, the group has chosen not to retrospectively apply the standard to business combinations that occurred before the date of transition to FRS 102.
| 2.3 | Foreign currency translation
Functional and presentation currency The company's functional and presentational currency is GBP. Transactions and balances The individual financial statements of each group entity are presented in the currency of the primary economic environment in which the entity operates. These, and the results and financial position reported in the Consolidated Financial Statements, are presented in Sterling (£). Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are recognised in the Consolidated Statement of Comprehensive Income in the period in which they arise. Page 3
VENTURELAND LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.4 | Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the group and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: 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 completetion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and third party costs, 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.
| 2.5 | Cost of sales
Production costs incurred in producing a film or television programme are recognised in the Consolidated Statement of Comprehensive Income as cost of sales in the period in which they are incurred.
| 2.6 | Operating leases: the group as lessee
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.
| 2.7 | Taxation
The tax expense for the year comprises current tax and is recognised in profit or loss. 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 and the group operate and generate income. The group is eligible to claim a tax credit on film or television programme production costs. The tax credit comprises relief based on total net costs and an additional deduction for enhanceable expenditure. The group claims a payment based on the amount of enhanced expenditure and carries losses arising from total net costs forward against future profits.
| 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. Page 4
VENTURELAND LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.8 | Tangible fixed assets (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following basis:
|  |  |  | Computer equipment | - | 33% |
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. Investments in unlisted group shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Consolidated statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.
| 2.10 | Stocks
Stocks take the form of work in progress. Work in progress relates to direct production costs, net of tax credits, incurred on film and television productions not yet delivered. Production costs are recognised in the income statement as soon as the production is delivered and the related sale is recognised At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss
| 2.11 | Debtors
Short-term debtors are measured at transaction price, less any impairment.
| 2.12 | 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.
| 2.13 | Creditors
Short-term creditors are measured at the transaction price. Page 5
VENTURELAND LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.14 | Financial instruments
The group has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments. Financial instruments are recognised in the group's Statement of financial position when the group becomes party to the contractual provisions of the instrument. The group only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans to/from related parties and investments in ordinary shares. Investments in non-derivative instruments that are equity to the issuer are measured: - at fair value with changes recognised in the Consolidated Statement of Income and Retained Earnings if the shares are publicly traded or their fair value can otherwise be measured reliably; - at cost less impairment for all other investments.
3. | Employees
| The average monthly number of employees, including the directors, during the year was as follows:
|  |  | Group | Group | Company | Company
|  |  | 2024 | 2023 | 2024 | 2023
|  |  | No. | No. | No. | No.
|  | Administration and production | 17 | 14 | 14 | 11
Page 6
VENTURELAND LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
4. | Tangible fixed assets
| Group and Company
|  | Computer equipment
|  | £
| Cost |
| At 1 January 2024 | 24,188
| Additions | 3,800
| Disposals | (2,366)
| At 31 December 2024 | 25,622
| Depreciation |
| At 1 January 2024 | 17,856
| Charge for the year on owned assets | 5,265
| Disposals | (6,807)
| At 31 December 2024 | 16,314
| Net book value |
| At 31 December 2024 | 9,308
| At 31 December 2023 | 6,332
Page 7
VENTURELAND LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
5. | Fixed asset investments
| Group
|  | Trade investments
|  | £
| Prior Year Adjustment | 213,285
| At 1 January 2024 (as restated) | 213,285
| Additions | 5,000
| At 31 December 2024 | 218,285
| Company
|  | Investments in subsidiary companies | Trade investments | Total
|  | £ | £ | £
| Cost |  |  |
| At 1 January 2024 (as previously stated) | 1,106 | - | 1,106
| Prior Year Adjustment | - | 213,285 | 213,285
| At 1 January 2024 (as restated) | 1,106 | 213,285 | 214,391
| Additions | 400 | 5,000 | 5,400
| Disposals | (100) | - | (100)
| At 31 December 2024 | 1,406 | 218,285 | 219,691
Page 8
VENTURELAND LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
| Subsidiary undertakings
| The following were subsidiary undertakings of the company:
| Name | Registered office | Class of shares | Holding
| Exodus Films Ltd | Note 1 | Ordinary | 100%
| SAR Films Limited | Note 1 | Ordinary | 100%
| TBH Productions Limited | Note 1 | Ordinary | 100%
| AR90 Ltd | Note 1 | Ordinary | 100%
| Shaken Not Stirred Ltd | Note 1 | Ordinary | 100%
| Slinky Films Ltd | Note 1 | Ordinary | 100%
| G&R Films Ltd | Note 1 | Ordinary | 100%
| Lions Production Ltd | Note 1 | Ordinary | 100%
| Lights Out Ltd | Note 1 | Ordinary | 100%
| 16 Voices Ltd | Note 1 | Ordinary | 100%
| OTR Productions Limited | Note 1 | Ordinary | 100%
| ALI Film Ltd | Note 1 | Ordinary | 100%
| Mountain Movie Ltd | Note 1 | Ordinary | 100%
| Fever Films Limited | Note 1 | Ordinary | 100%
| ASO Films Ltd | Note 1 | Ordinary | 100%
| Les Trois Films Ltd | Note 1 | Ordinary | 100%
| Immortal Film Ltd | Note 1 | Ordinary | 100%
| Note 1 The registered office is 23 Snowbell Road Kingsnorth, Ashford, Kent, England, TN23 3NF. The following subsidiaries were exempt from audit by virtue of S479A of the Companies Act 2006: Exodus Films Ltd - registered number: 09552294 SAR Films Limited - registered number: 11677725 TBH Productions Limited - registered number: 12844110 AR90 Ltd - registered number: 13047891 Shaken Not Stirred Ltd - registered number: 13048823 Slinky Films Ltd - registered number: 13047860 G&R Films Ltd - registered number: 13286972 Lions Production Ltd - registered number: 13486012 Lights Out Ltd - registered number: 14399873 16 Voices Ltd - registered number: 14539579 OTR Productions Limited - registered number: 14561477 ALI Film Limited - registered number: 14992434 Mountain Movie Limited - registered number: 15215384 Fever Films Ltd - registered number: 15411468 ASO Films Ltd - registered number: 15411451 Les Trois Films Ltd - registered number: 15496422 Immortal Films Ltd - registered number: 16145117 Burger Productions Limited, which was 100% owned by Ventureland Limited, was dissolved in May 2024.
Page 9
VENTURELAND LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
6. | Stocks
|  | Group | Group
|  | 2024 | 2023
|  | £ | £
| Production costs | - | 1,749,419
|  | - | 1,749,419
7. | Debtors
|  | Group | Group As restated | Company | Company As restated
|  | 2024 | 2023 | 2024 | 2023
|  | £ | £ | £ | £
| Trade debtors | 38,527 | 417,182 | 38,167 | 103,312
| Amounts owed by group undertakings | 1,756,676 | 1,750,331 | 2,611,508 | 1,795,593
| Other debtors | 388,768 | 397,477 | 163,914 | 147,620
| Prepayments and accrued income | 25,099 | 81,738 | 11,880 | 4,167
| Tax recoverable | 786,924 | 274,547 | 175,753 | -
|  | 2,995,994 | 2,921,275 | 3,001,222 | 2,050,692
8. | Cash and cash equivalents
|  | Group | Group | Company | Company
|  | 2024 | 2023 | 2024 | 2023
|  | £ | £ | £ | £
| Cash at bank and in hand | 5,975,926 | 3,314,550 | 1,055,192 | 768,520
|  | 5,975,926 | 3,314,550 | 1,055,192 | 768,520
Page 10
VENTURELAND LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
9. | Creditors: Amounts falling due within one year
|  | Group | Group | Company | Company
|  | 2024 | 2023 | 2024 | 2023
|  | £ | £ | £ | £
| Trade creditors | 132,337 | 219,313 | 75,084 | 69,022
| Amounts owed to group undertakings | 6,524 | 8,563 | 1,406 | 1,106
| Corporation tax | - | 99,868 | - | 98,585
| Other taxation and social security | 369,049 | 246,143 | 311,486 | 162,012
| Other creditors | 1,872,427 | 835,130 | 1,014,918 | 809,145
| Accruals and deferred income | 4,147,651 | 4,925,649 | 210,994 | 33,500
|  | 6,527,988 | 6,334,666 | 1,613,888 | 1,173,370
10. | Prior year reclassification
During the current financial year, management identified that a loan previously disclosed within other debtors in the prior year’s balance sheet of £213,285 more appropriately meets the definition of a trade investment under FRS 102. As a result, the comparative figures for the year ended 31 December 2023 have been restated to reflect this reclassification. This adjustment has no impact on the profit and loss account or net assets for the prior period.
11. | Transactions with directors
The company has provided the directors with loans which are unsecured and repayable on demand. It charged interest at 2.25% during the year and at the reporting date the directors owed £133,714 (2023: £120,520) to the company.
12. | Related party transactions
| The company has taken advantage of the exemption contained in FRS102 section 33 "Related Party Disclosures" from disclosing transactions with companies that are a wholly owned member of the group. Included within Other creditors is an amount of £800,876 (2023: £801,502) owed by Ventureland Limited and an amount of £724 owed by OTR Productions Limited to Prettybird LLC, a company of which John Battsek and Kerstin Emhoff are directors. Included within Other creditors is an amount of £9,894 (2023: £nil) owed by Ventureland Limited to Prettybird Limited, a company of which Kerstin Emhoff is a director.
13. | Controlling party
Ventureland Limited is the head of the largest and smallest group which prepares consolidated financial statements. Its registered office address is 4th Floor, 25 Store Street, London, WC1E 7BL. Ventureland Limited's parent company is Ventureland LLC. There is no ultimate controlling party. Page 11
VENTURELAND LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
14. | Auditors' information
The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified. The audit report was signed on 12 September 2025 by Anthony Pins (Senior statutory auditor) on behalf of Nyman Libson Paul LLP.
Page 12