ACCOUNTS - Final Accounts preparation

Unaudited Financial Statements

ODO Productions 2 Limited

For the year ended 31 March 2025

Registered number: NI695207


ODO Productions 2 Limited

Company Information

Directors	Jakub Karwowski
	Colin Williams


Registered number	NI695207


Registered office	9 Church View
	Holywood
	Down
	BT18 9DP


Accountants	Grant Thornton Advisors (NI) LLP
	Chartered Accountants
	12 - 15 Donegall Square West
	Belfast
	BT1 6JH


Bankers	Coutts
	440 Strand
	London
	WC2R 0QS


ODO Productions 2 Limited

Contents

	Page
Accountants' report	1
Balance sheet	2
Notes to the financial statements	3 - 7

Independent Accountant's Report to the directors of the unaudited financial statements of ODO Productions 2 Limited for the year ended 31 March 2025

In order to assist you fulfil your duties under the Companies Act 2006, we have compiled the financial statements of ODO Productions 2 Limited for the year ended 31 March 2025, which comprise the Statement of comprehensive income, the Balance sheet and the related notes to the financial statements, including a summary of significant accounting policies, from the company's accounting records and from information and explanations you have given to us.

The financial statements have been prepared on the basis set out in the notes to the financial statements.

This report is made solely to the directors of ODO Productions 2 Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely that we might compile the financial statements that we have been engaged to compile, report to the company's directors that we have done so and state those matters that we have agreed to state to the directors of ODO Productions 2 Limited, as a body, in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than ODO Productions 2 Limited and its directors, as a body, for our work or for this report.

We have carried out this engagement in accordance with International Standard on Related Services 4410 (Revised) Compilation Engagements issued by the International Auditing and Assurance Standards Board (the ‘IAASB’’) and have complied with the ethical guidance laid down by the IESBA Code and Chartered Accountants Ireland relating to members undertaking the compilation of financial statements.

You have approved the financial statements for the year ended 31 March 2025 and you have acknowledged on the Balance sheet as at 31 March 2025 your duty to ensure that ODO Productions 2 Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view in accordance with the Companies Act 2006. You consider that ODO Productions 2 Limited is exempt from the statutory audit requirement for the year ended 31 March 2025.

We have not been instructed to carry out an audit or review the financial statements of ODO Productions 2 Limited. 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 financial statements.

Grant Thornton Advisors (NI) LLP
Chartered Accountants 12 - 15 Donegall Square West Belfast BT1 6JH

Date: 17 September 2025

Page 1


ODO Productions 2 Limited Registered number:NI695207

Balance sheet

As at 31 March 2025

		2025		2024
Note		£		£


Current assets
Debtors: amounts falling due within one year	5	839,107		2,050,374
Cash at bank and in hand	6	82,712		488,983
		921,819		2,539,357
Creditors: amounts falling due within one year	7	(921,818)		(2,539,356)
Net current assets			1		1
Total assets less current liabilities			1		1

Net assets			1		1

Capital and reserves
Called up share capital	8	1	1
		1	1

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.

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 comprehensive income 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 17 September 2025.

Colin Williams

Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2


ODO Productions 2 Limited

Notes to the financial statements

For the year ended 31 March 2025

1.	General information

ODO Productions 2 Limited is a private limited company limited by shares and incorporated in Northern Ireland. The company's registered office is at 9 Church View, Holywood, Down, Northern Ireland, BT18 9DP.
The principal activity of the company is television programme production activities.

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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

The financial statements are presented in Sterling (£).

The following principal accounting policies have been applied:

2.2

Going concern

The directors have assessed that there are adequate resources to meet the ongoing costs of the business for a minimum of 12 months from the date of signing the financial statements. For this reason the financial statements have been prepared on a going concern basis which presumes the realisation of assets and liabilities in the normal course of business.

Page 3


ODO Productions 2 Limited

Notes to the financial statements

For the year ended 31 March 2025

2.Accounting policies (continued)

2.3

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.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company 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:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 4


ODO Productions 2 Limited

Notes to the financial statements

For the year ended 31 March 2025

2.Accounting policies (continued)

2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

2.7

Taxation

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 balance sheet 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 balance sheet date, 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;

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met; and

∙Where they relate to timing differences in respect of interests in subsidiaries, associates, branches and joint ventures and the Company can control the reversal of the timing differences and such reversal is not considered probable in the foreseeable future.

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 balance sheet date.

2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 5


ODO Productions 2 Limited

Notes to the financial statements

For the year ended 31 March 2025

2.Accounting policies (continued)

2.9

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. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3.	Judgments in applying accounting policies and key sources of estimation uncertainty

Estimates and judgements are required when applying accounting policies. These are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
The company makes estimates and assumptions concerning the future, which can involve a high degree of judgement or complexity. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below:
Recoverability of debtors
Estimates are made in respect of the recoverable value of trade and other debtors. When assessing the level of provisions required, factors including current trading experience, historical experience and the ageing profile of debtors are considered.

Employees

The Company has no employees other than the directors, who did not receive any remuneration (2024 - £NIL).

Debtors

					2025	2024
					£	£


Trade debtors	438,271	-
Amounts owed by group undertakings	2,485	-
Other debtors	4,421	10,710
Prepayments and accrued income	93,250	1,798,897
Tax recoverable	300,680	240,767
	839,107	2,050,374

Page 6


ODO Productions 2 Limited

Notes to the financial statements

For the year ended 31 March 2025

6.	Cash and cash equivalents
		2025	2024
		£	£

Cash at bank and in hand	82,712	488,983
Less: bank overdrafts	-	(240)
	82,712	488,743

7.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Bank overdrafts	-	240
Other loans	309,763	548,745
Trade creditors	56,057	428,879
Amounts owed to group undertakings	371,900	790,749
Accruals and deferred income	184,098	770,743
	921,818	2,539,356

The loan is secured by way of a fixed and floating charge over the undertaking of the company. The loan balance is repayable within one year and subject to interest at a rate of 12% per annum.

8.	Share capital
		2025	2024
		£	£

Allotted, called up and fully paid

1 (2024 - 1) Ordinary share of £1.00	1	1

9.	Related party transactions
	The company has availed of the exemption under FRS102 section 33 which does not require disclosure of transactions entered into between any subsidiary undertaking which is wholly owned by a member of that group.

10.	Controlling party

The immediate parent undertaking is Sixteen South Studios Limited. The ultimate controlling party is deemed to be Sixteen South Group Limited by virtue of control.

Page 7