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Registered number: 04179899
LEOPARD FILMS LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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LEOPARD FILMS LIMITED
COMPANY INFORMATION
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L Bessell (resigned 14 March 2025)
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Ecovis Wingrave Yeats LLP
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Chartered Accountants & Statutory Auditor
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3rd Floor, Waverley House
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LEOPARD FILMS LIMITED
CONTENTS
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Statement of financial position
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Notes to the financial statements
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LEOPARD FILMS LIMITED
REGISTERED NUMBER: 04179899
STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Provisions for liabilities
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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 profit and loss account 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 26 September 2025.
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LEOPARD FILMS LIMITED
REGISTERED NUMBER: 04179899
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2024
The notes on pages 3 to 10 form part of these financial statements.
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LEOPARD FILMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Leopard Films Limited is a private company limited by shares, incorporated in England and Wales. The Company's registered office is 1-3 St Peter's Street, London, N1 8JD.
2.Accounting policies
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Basis of preparation of financial statements
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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 company is itself a parent company and is exempt from the requirement to prepare group accounts by virtue of section 400 of the Companies Act 2006. These financial statements therefore present information about the company as an individual undertaking and not about a group.
The following principal accounting policies have been applied:
The financial statements have been prepared on a going concern basis as the ultimate parent company, Argonon Ltd, has confirmed that it will provide such financial support as necessary to the Company to enable it to continue to meet its liabilities as they fall due.
The directors have considered the future funding requirements of the business and, based on management forecasts, have concluded that the Company will have sufficient funds to ensure that it can meet its financial liabilities as and when they fall due, for a period of at least 12 months from the date of signing these financial statements.
Turnover recognised in the Statement of comprehensive income represents amounts receivable for the work carried out in producing television programmes and is recognised over the period of the production. In respect of long term production contracts, revenue is included based on the proportion of costs incurred to date over total costs. Provision is made for any losses as soon as they are foreseen.
Royalty income is recognised in the financial statements on a receivable basis.
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LEOPARD FILMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
Fixtures, fittings and equipment
Fixtures, fittings and equipment that relate to art paintings are held at fair value which is assessed at the end of each reporting period.
Other fixtures, fittings and equipment are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives.
Depreciation is provided on the following basis:
Fixtures, fittings and equipment - 33 1/3% straight line
Other tangible fixed assets
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives.
Depreciation is provided on the following basis:
Leasehold improvements - 2% straight line
Plant & machinery - 33 1/3% straight line
Investments held as fixed assets are shown at cost less provision for impairment.
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling at the reporting date.
Transactions in foreign currencies are translated into sterling at the rate on the date of the transaction.
Exchange gains and losses are recognised in the Statement of comprehensive income.
The Company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Company to the fund in respect of the year.
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LEOPARD FILMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
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Current and deferred taxation
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The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of comprehensive income, 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.
Full provision is made for deferred tax assets and liabilties arising from all timing differences between the recognition of gains and losses in the financial statements and recognition in the tax computation.
A net deferred tax asset is recognised only if it can be regarded as more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.
Deferred tax asset and liabilities are calculated at the tax rates expected to be effective at the time the timing differences are expected to reverse.
Deferred tax assets and liabilities are discounted.
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.
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Cash and cash equivalents
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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.
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.
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LEOPARD FILMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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Judgments in applying accounting policies and key sources of estimation uncertainty
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Revenue recognition
Revenue from production services for third parties is recognised on a percentage-of-completion basis. Percentage-of-completion is based upon the proportion of costs incurred in the current period to total expected costs. The total expected costs on each production are reviewed by management on a regular basis.
Impairment of fixed asset investments
Investments held as fixed assets are shown as cost less provision for impairment. In assessing whether or not an impairment is necessary the Directors have considered the aggregate production businesses of the Leopard Group, subsidiaries of the Argonon Group of companies, and have concluded that no impairment is required.
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The operating profit/(loss) is stated after charging:
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Auditor's remuneration - Audit services
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Auditor's remuneration - Non-audit services
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During the year no director received any emoluments (2023 - £Nil).
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The average monthly number of employees, including directors, during the year was 3 (2023 - 3).
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LEOPARD FILMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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Fixtures, fittings and equipment
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There has been no depreciation of assets held within fixtures and fittings due to depreciation being not allowable as the asset life cannot be determined.
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Investments in subsidiary companies
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LEOPARD FILMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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Amounts owed by group undertakings
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Amounts owed by group undertakings are interest free, unsecured and repayable on demand.
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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Other taxation and social security
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Accruals and deferred income
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Amounts owed to group undertakings are interest free, unsecured and repayable on demand.
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LEOPARD FILMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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Charged to profit or loss
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The deferred taxation balance is made up as follows:
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Accelerated capital allowances
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Allotted, called up and fully paid
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2,500 (2023 - 2,500) Ordinary shares of £0.10 each
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Rights of shares:
The shares allotted above have full voting, dividend and capital distribution rights.
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Share premium
Includes only premiums received on issues of share capital. Any transaction costs associated with issuing of shares are deducted from share premium.
Merger reserve
The reserve was set up when the Group was formed in 2011. This includes the investments in Leopard USA Limited, Argonon International Limited and Leopard Pictures Ltd.
Profit and loss account
Includes all current and prior period retained profits and losses.
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LEOPARD FILMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
A cross guarantee is in place between Argonon Ltd and it's subsidiary undertakings with Barclays Bank Plc.
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Related party transactions
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Leopard Films Limited have taken the exemption under FRS 102, Section 33 Related Party Disclosures paragraph 33.1A, whereby the Company is not required to disclose transactions between two or more members of a group, provided that they are wholly owned.
During the year the Company received revenue totalling £108,781 (2023 - £114,958) from a group company which was not wholly owned.
As at the balance sheet date, the Company was owed £108,781 (2023 - £37,872) by a group company which was not wholly owned, and owed a group company which was not wholly owned £Nil (2023 - £Nil).
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Ultimate parent undertaking and controlling party
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The ultimate and immediate parent company is Argonon Ltd, a company registered in England and Wales. Copies of the group financial statements can be obtained from that company's registered office at 1-3 St Peter's Street, London, N1 8JD. This is the smallest and largest group for which group financial statements are prepared in respect of the entity.
The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified.
The audit report was signed on 26 September 2025 by Kate Barekati (Senior statutory auditor) on behalf of Ecovis Wingrave Yeats LLP.
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