| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 December 2024 |
| for |
| Build Your Own Films Ltd |
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 December 2024 |
| for |
| Build Your Own Films Ltd |
| Build Your Own Films Ltd (Registered number: 10951071) |
| Contents of the Financial Statements |
| for the Year Ended 31 December 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Build Your Own Films Ltd |
| Company Information |
| for the Year Ended 31 December 2024 |
| Directors: |
| Secretary: |
| Registered office: |
| Registered number: |
| Build Your Own Films Ltd (Registered number: 10951071) |
| Balance Sheet |
| 31 December 2024 |
| 2024 | 2023 |
| Notes | £ | £ |
| Current assets |
| Stocks |
| Debtors | 4 |
| Cash at bank |
| Creditors |
| Amounts falling due within one year | 5 | ( |
) | ( |
) |
| Net current assets/(liabilities) | ( |
) |
| Total assets less current liabilities | ( |
) |
| Creditors |
| Amounts falling due after more than one year | 6 | ( |
) | ( |
) |
| Net liabilities | ( |
) | ( |
) |
| Capital and reserves |
| Called up share capital | 7 |
| Share premium |
| Retained earnings | ( |
) | ( |
) |
| Shareholders' deficit | ( |
) | ( |
) |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Build Your Own Films Ltd (Registered number: 10951071) |
| Notes to the Financial Statements |
| for the Year Ended 31 December 2024 |
| 1. | General information |
| Build Your Own Films Ltd is a private company, limited by shares, incorporated in United Kingdom under the Companies Act 2006. The company's registered number and registered office address can be found on the Company Information page. |
| 2. | Accounting policies |
| Basis of preparing the financial statements |
| Changes in accounting policies |
| The Company has applied the following standards and amendments for the first time for its annual reporting period commencing 1 January 2024: |
| • IAS 12, Income Taxes – International Tax Reform – Pillar Two Model Rules and Deferred Tax related to Assets and Liabilities arising from a single transaction – effective 1 January 2024, |
| • Amendments to IFRS 16, Lease Liability in a Sale-and-Leaseback – effective 1 January 2024, |
| • Amendments to IAS 7 and IFRS 7, Supplier Finance Arrangements - effective 1 January 2024, |
| • IAS 1, Presentation of Financial Statements – Disclosure of Accounting Policies – effective 1 January 2024 |
| The above amendments did not have any impact on the amounts recognised in prior periods and are not expected to have a material effect on the current or future periods. |
| New standards and interpretations not yet adopted |
| The company has not yet adopted certain new standards, amendments and interpretations to existing standards, which have been published but are not yet effective. These new pronouncements are listed below: |
| • Amendments to IAS 21, the Effects of Changes in Foreign Exchange Rates – effective 1 January 2025. |
| • IFRS 9, Financial Instruments – Amendments regarding the classification and measurement of financial instruments – effective 1 January 2026 |
| • IFRS 7, Financial Instruments: Disclosures – Amendments related to the disclosure of financial instruments' effects and risk management – effective 1 January 2026 |
| The above amendments will not have a material impact on the Build Your Own Films Ltd’s reported profit or equity to on the disclosures in the financial statements. |
| Turnover |
| For commissioned productions, turnover and attributable profit are recognised on an episodic basis once delivery of the production to the customer occurs. Both under and overspends are accounted for once known and are recognised in accordance with the episodic delivery pattern. Provision is made for any loss making contracts as soon as identified (i.e. expected overspend is in excess of originally anticipated margin). |
| Revenues on programmes distributed by third parties and other ancillary revenues are recognised once the company has been notified of sums due to it. |
| Stocks |
| Stock and work in progress should be valued at the lower of cost and net realisable value. Net realisable value should be based on estimated selling price less any further costs expected to be incurred to completion. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| Build Your Own Films Ltd (Registered number: 10951071) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 2. | Accounting policies - continued |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| Translation of foreign currencies |
| (a) Functional and presentation currency |
| Items included in the financial statements of the company are measured using the currency of the primary economic environment in which the company operates (‘the functional currency’). The financial statements are presented in ‘Pounds Sterling’ (£), which is also the company’s functional currency. |
| (b) Transactions and balances |
| Foreign currency transactions are translated into the functional currency using the exchange rates prevailing at the dates of the transactions or valuation where items are re-measured. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at year-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the income statement. |
| Going concern |
| The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Furthermore, the company’s corporate shareholder, All3Media Finance Limited, has undertaken to provide continuing financial support so that the company is able to pay its debts as and when they fall due. Thus they continue to adopt the going concern basis of accounting in preparing the annual financial statements. |
| Cash and cash equivalents |
| Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of changes in value. |
| Provisions |
| Provisions are recognised when the company has a present obligation as a result of a past event, it is probable that a transfer of economic benefits will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation. |
| 3. | Employees and directors |
| The average number of employees during the year was |
| 4. | Debtors: amounts falling due within one year |
| 2024 | 2023 |
| £ | £ |
| Trade debtors |
| Other debtors |
| VAT |
| Build Your Own Films Ltd (Registered number: 10951071) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 5. | Creditors: amounts falling due within one year |
| 2024 | 2023 |
| £ | £ |
| Trade creditors |
| Social security and other taxes |
| Other creditors |
| Accruals and deferred income |
| Included in the above creditors is deferred income of £53,250 (2023: £3,250). Deferred income of £50,000 as at 31 December 2024 relates to new contracts entered in the period. |
| 6. | Creditors: amounts falling due after more than one year |
| 2024 | 2023 |
| £ | £ |
| Other creditors |
| Included within Other creditors is a loan of £1,141,964 (31 December 2023: £415,424) from All3Media Finance Limited, a shareholder of the company. This loan carries an interest rate of 2% above the Sterling Overnight Index Average rate and is repayable on 31 December 2026. |
| 7. | Called up share capital |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2024 | 2023 |
| value: | £ | £ |
| A Ordinary Shares | £1 | 98 | 98 |
| B Ordinary Shares | £1 | 102 | 102 |
| 200 | 200 |
| 8. | Related party disclosures |
| The following amounts were owed to related parties at the balance sheet date: |
| 2024 | 2023 |
| £ | £ |
| Trade payables |
| All3Media Limited | (1,842 | ) | (320 | ) |
| Loan |
| All3Media Finance Limited | (1,141,964 | ) | (415,425 | ) |
| All3Media Limited and All3Media Finance Limited are companies of which V Turton is also a Director. All3Media Finance Limited has a significant shareholding in Build Your Own Films Ltd. |
| 9. | Ultimate controlling party |
| The directors consider that the company does not have an ultimate controlling party. |