Company Registration No. 15867581 (England and Wales)
MLP ZOG SPV
Annual report and unaudited financial statements
for the Period ended 31 March 2025
MLP ZOG SPV
Company information
Directors
Mr Martin Pope
(Appointed 31 July 2024)
Michael Rose
(Appointed 31 July 2024)
Company number
15867581
Registered office
c/o Magic Light Pictures Limited
4th Floor
41-42 Foley Street
London
W1W 7TS
MLP ZOG SPV
Contents
Page
Directors' report
1
Accountants' report
2
Income statement
3
Statement of financial position
4
Notes to the financial statements
5 - 9
MLP ZOG SPV
Directors' report
For the period ended 31 March 2025
1

The directors present their annual report and financial statements for the Period ended 31 March 2025.

Principal activities

The principal activity of the company is the production of children's television programmes.

Results and dividends

The results for the Period are set out on page 3.

Directors

The directors who held office during the Period and up to the date of signature of the financial statements were as follows:

Mr Martin Pope
(Appointed 31 July 2024)
Michael Rose
(Appointed 31 July 2024)
Small companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

On behalf of the board
Mr Martin Pope
Director
5 September 2025
MLP ZOG SPV
Accountants' report to the Board of Directors on the preparation of the unaudited statutory financial statements of MLP ZOG SPV for the Period ended 31 March 2025
2

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of MLP ZOG SPV for the Period ended 31 March 2025 set out on pages 3 to 9 from the company’s accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/regulation.

This report is made solely to the B oard of D irectors of MLP ZOG SPV, as a body, in accordance with the terms of our engagement letter dated 31 January 2025. Our work has been undertaken solely to prepare for your approval the financial statements of MLP ZOG SPV and state those matters that we have agreed to state to the B oard of D irectors of MLP ZOG SPV, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than MLP ZOG SPV and its B oard of D irectors as a body, for our work or for this report.

It is your duty to ensure that MLP ZOG SPV has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and result of MLP ZOG SPV. You consider that MLP ZOG SPV is exempt from the statutory audit requirement for the Period.

We have not been instructed to carry out an audit or a review of the financial statements of MLP ZOG SPV. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory f inancial statements.

Saffery LLP
Accountants
71 Queen Victoria Street
London
EC4V 4BE
8 September 2025
MLP ZOG SPV
Income statement
For the period ended 31 March 2025
3
Period
ended
31 March
2025
Notes
£
Turnover
3
2,163,241
Cost of sales
(2,786,027)
Gross (loss)/profit
(622,786)
Administrative expenses
(17,500)
Other operating income
703,582
Profit before taxation
63,296
Tax on profit
5
(63,296)
Profit for the financial Period
-
0

The income statement has been prepared on the basis that all operations are continuing operations.

MLP ZOG SPV
Statement of financial position
As at 31 March 2025
4
2025
Notes
£
£
Current assets
Debtors
6
1,783,638
Cash at bank and in hand
34,479
1,818,117
Creditors: amounts falling due within one year
7
(1,818,017)
Net current assets
100
Capital and reserves
-
Called up share capital
9
100

For the financial Period ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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.

T he members have not required the company to obtain an audit of its financial statements for the Period in question in accordance with section 476.

These financial statements have been prepared 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 5 September 2025 and are signed on its behalf by:
Mr Martin Pope
Director
Company Registration No. 15867581
MLP ZOG SPV
Notes to the financial statements
For the period ended 31 March 2025
5
1
Accounting policies
Company information

MLP ZOG SPV is a private company limited by shares incorporated in England and Wales. The registered office is c/o Magic Light Pictures Limited, 4th Floor, 41-42 Foley Street, London, W1W 7TS.

1.1
Reporting period

The financial statements are presented for a period shorter than a year of 8 months. The period was shortened to bring the company into line with the group period end.

1.2
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.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.3
Going concern

A true t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.4
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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 completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, 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 it is probable will be recover ed.

1.5
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.

MLP ZOG SPV
Notes to the financial statements (continued)
For the period ended 31 March 2025
1
Accounting policies (continued)
6
1.6
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 statement of financial position 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.

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 paymen ts 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. A m ounts 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.

1.7
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.

1.8
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 income statement 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.

MLP ZOG SPV
Notes to the financial statements (continued)
For the period ended 31 March 2025
1
Accounting policies (continued)
7
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.

1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.10
Government grants

Government grants are recognised at the fair value of the asset receive d or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

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.

MLP ZOG SPV
Notes to the financial statements (continued)
For the period ended 31 March 2025
8
3
Turnover and other revenue
2025
£
Turnover analysed by class of business
2,163,241
2025
£
Other revenue
Grants received
703,582
4
Operating profit
2025
Operating profit for the period is stated after (crediting):
£
Government grants
(703,582)
5
Taxation
2025
£
Current tax
UK corporation tax on profits for the current period
63,296

The actual charge for the Period can be reconciled to the expected charge/(credit) for the Period based on the profit or loss and the standard rate of tax as follows:

2025
£
Profit before taxation
63,296
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00%
15,824
47,472
Taxation charge for the period
63,296
MLP ZOG SPV
Notes to the financial statements (continued)
For the period ended 31 March 2025
9
6
Debtors
2025
Amounts falling due within one year:
£
Trade debtors
547,608
Other debtors
704,103
Prepayments and accrued income
531,927
1,783,638
7
Creditors: amounts falling due within one year
2025
Notes
£
Trade creditors
405,572
Amounts owed to group undertakings
1,116,032
Deferred income
8
278,913
Accruals and deferred income
17,500
1,818,017
8
Deferred income
2025
£
Other deferred income
278,913
9
Share capital
2025
2025
Ordinary share capital
Number
£
Issued and fully paid
of £1 each
100
100
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