Twelve Town Limited

	Page
Statement of Financial Position	1
Notes to the Financial Statements	2—4

Registered number: 09782625

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Investments	6		50		50

			50		50
Creditors: Amounts Falling Due Within One Year	7	(303,035 )		(312,715 )

NET CURRENT ASSETS (LIABILITIES)			(303,035 )		(312,715 )

TOTAL ASSETS LESS CURRENT LIABILITIES			(302,985 )		(312,665 )

Creditors: Amounts Falling Due After More Than One Year	8		(5,668,963 )		(5,665,063 )

NET LIABILITIES			(5,971,948 )		(5,977,728 )

CAPITAL AND RESERVES
Called up share capital	9		100		100
Income Statement			(5,972,048 )		(5,977,828 )

SHAREHOLDERS' FUNDS			(5,971,948)		(5,977,728)

For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.

On behalf of the board

Mr Peter Gerwe

Director

12 September 2025

The notes on pages 2 to 4 form part of these financial statements.

1. General Information

Twelve Town Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09782625 . The registered office is Suite 2a, 7th Floor, City Reach, 5 Greenwich View Place, London, E14 9NN.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Going Concern Disclosure

At the balance sheet date, the company's liabilities exceeded its assets. The company has received assurance from its sole shareholder that it will continue to give financial support to the company for the forseeable future.

On this basis, the directors consider it appropriate to prepare the accounts on a going concern basis. However, should the financial support mentioned above not be forthcoming, the going concern basis used in preparing the company's accounts may be invalid and adjustment would have to be made to reduce the value of assets to their realisable amount and to provide for any further liabilities which might arise. The accounts do not include any adjustment to the company's assets or liabilities that might be necessary should this basis not continue to be appropriate.

2.3. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.4. Intangible Fixed Assets and Amortisation - Other Intangible

Other intangible assets is a Trade Mark. It is amortised to the income statement over its estimated economic life of 5 years.

2.5. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Leasehold	20% Straight line method
Fixtures & Fittings	25% Reducing balance method
Computer Equipment	33% Straight line method

2.6. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2.7. Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

2.8. Registrar Filing Requirements

The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the income statement, directors report, and notes to the financial statements relating to the income statement.

3. Average Number of Employees

Average number of employees, excluding directors, during the year was: NIL (2023: NIL)

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Twelve Town Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

4. Intangible Assets

	Other
	£
Cost
As at 1 January 2024	8,884

As at 31 December 2024	8,884

Amortisation
As at 1 January 2024	8,884

As at 31 December 2024	8,884

Net Book Value
As at 31 December 2024	-

As at 1 January 2024	-

5. Tangible Assets

	Fixtures & Fittings	Computer Equipment	Total
	£	£	£
Cost
As at 1 January 2024	873	1,802	2,675

As at 31 December 2024	873	1,802	2,675

Depreciation
As at 1 January 2024	873	1,802	2,675

As at 31 December 2024	873	1,802	2,675

Net Book Value
As at 31 December 2024	-	-	-

As at 1 January 2024	-	-	-

6. Investments

	Unlisted
	£
Cost
As at 1 January 2024	50

As at 31 December 2024	50

Provision
As at 1 January 2024	-

As at 31 December 2024	-

Net Book Value
As at 31 December 2024	50

As at 1 January 2024	50

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Twelve Town Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

7. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	262,897	272,667
Bank loans and overdrafts	10,000	10,000
Corporation tax	12,000	12,000
Other creditors	110	20
Directors' loan accounts	18,028	18,028

	303,035	312,715

8. Creditors: Amounts Falling Due After More Than One Year

	2024	2023
	£	£
Bank loans	5,000	15,000
Corporation tax	115,756	129,256
Loan from Pinewood- Shepperton Studios Ltd	693,107	693,107
Amounts owed to group undertakings	4,855,100	4,827,700

	5,668,963	5,665,063

Included in other borrowings is a loan from Pinewood-Shepperton Studios Ltd of £693,107 (2022: £693,107). The loan bears interest at 3% plus LIBOR per annum and has repayment dates of 1 January 2023, 1 January 2024 and 1 January 2025.

The amounts due to group undertakings are loans which do not bear interest.

On 24 June 2020, the company obtained an unsecured Bounce Back Loan from Coutts in the sum of £50,000. The loan is repayable over 72 months on a fixed interest rate of 2.5% from the date of the drawdown.

The company submitted R&D claims in 2017 and 2018, which were paid by HMRC, but now rejected. HMRC have agreed for the tax recovered to be repaid to them at the rate of £1,000 per month.

9. Share Capital

	2024	2023
Allotted, called up and fully paid	£	£
50 Ordinary A shares of £ 1.000 each	50	50
50 Ordinary B shares of £ 1.000 each	50	50

	100	100

10. Contingent Liabilities

A contingent liability amounting to $187,500 (£148,081) exists in respect of consultancy fees that will become payable upon the successful production of a TV series.

11. Ultimate Controlling Party

The company's ultimate controlling party is Storyfirst Ltd by virtue of their ownership of 100% of the issued share capital in the company.

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