British Pathe Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 02222005

British Pathe Limited

Filleted Financial Statements

30 September 2024

British Pathe Limited

Statement of Financial Position

30 September 2024

	2024		2023
Note	£	£	£

Fixed assets

Intangible assets	5	6,814,916	6,806,641
Tangible assets	6	7,972	12,500
Investments	7	56	56
		------------	------------
		6,822,944	6,819,197

Current assets

Debtors	8	6,794,736	6,844,453
Cash at bank and in hand		201,124	285,920
		------------	------------
		6,995,860	7,130,373

Creditors: amounts falling due within one year	9	( 577,652)		( 1,022,304)
		------------		------------
Net current assets			6,418,208	6,108,069
			-------------	-------------
Total assets less current liabilities			13,241,152	12,927,266
			-------------	-------------
Net assets			13,241,152	12,927,266
			-------------	-------------

Capital and reserves

Called up share capital	100	100
Revaluation reserve	6,278,070	6,278,070
Profit and loss account	6,962,982	6,649,096
	-------------	-------------
Shareholders funds	13,241,152	12,927,266
	-------------	-------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

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.

These financial statements were approved by the board of directors and authorised for issue on 25 September 2025 , and are signed on behalf of the board by:

A S White

Director

Company registration number: 02222005

British Pathe Limited

Notes to the Financial Statements

Year ended 30 September 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 10 Orange Street, Haymarket, London, WC2H 7DQ.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The company made a profit of £1,167,314 (2022: £1,219,280) and had net assets of £12,958,902 (2022: £13,191,588) at the balance sheet date. The director has considered the basis of preparation of the financial statements and have concluded that it is appropriate to prepare these on the going concern basis. The director of the company is confident that they will be able to continue trading for at least 12 months from the signing of the financial statements.

Disclosure exemptions

The entity satisfies the criteria of being a qualifying small entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under section 1A of FRS 102: (a) No cash flow statement has been presented for the company. (b) Disclosures in respect of financial instruments have not been presented.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Intangible assets

Intangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any intangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. British Pathe have reviewed their intangible assets in the current year and have decided to separately recognise four types of intangible assets; Archive Footage - this is archive film/tv footage that is retained and licensed by British Pathe and used in TV and Film projects by third parties. Website Development - this is website development platform costs to sell and distribute Archive Footage. Transcoded Media - This is archive film/tv footage that has been converted to specific formats to allow streaming of footage. TV/Film Projects - this is TV and Film Projects that British Pathe are developing.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

Archive Footage	-	350 years
Website Development	-	5 years
TV/Film Projects	-	3 - 7 years
Transcoded Footage	-	20 years

During the current period, a review was carried out of the intangible asset classes as currently available industry estimates indicated a significant change in the recognised amortisation rate and longevity of useful economic life of the Archive Footage .As such, in line with the accounting policies previously adopted by British Pathe the amortisation rate is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Plant and machinery	-	20% to 33.33% straight line

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Financial instruments

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 entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 7 (2023: 7 ).

5. Intangible assets

	Archive Footage	Website Development	TV/Film Projects	Transcoded Media	Total
	£	£	£	£	£
Cost
At 1 October 2023	6,684,285	102,301	9,104	87,884	6,883,574
Additions	–	–	–	69,582	69,582
Disposals	–	( 11,521)	–	–	( 11,521)
Transfers	( 103,441)	–	–	103,441	–
Other movements	( 8,720)	–	–	–	( 8,720)
	------------	---------	-------	---------	------------
At 30 September 2024	6,572,124	90,780	9,104	260,907	6,932,915
	------------	---------	-------	---------	------------
Amortisation
At 1 October 2023	38,213	29,634	–	9,086	76,933
Charge for the year	18,117	19,409	2,731	12,330	52,587
Disposals	–	( 11,521)	–	–	( 11,521)
	------------	---------	-------	---------	------------
At 30 September 2024	56,330	37,522	2,731	21,416	117,999
	------------	---------	-------	---------	------------
Carrying amount
At 30 September 2024	6,515,794	53,258	6,373	239,491	6,814,916
	------------	---------	-------	---------	------------
At 30 September 2023	6,646,072	72,667	9,104	78,798	6,806,641
	------------	---------	-------	---------	------------

6. Tangible assets

	Plant and machinery	Total
	£	£
Cost
At 1 October 2023	22,894	22,894
Additions	2,467	2,467
	--------	--------
At 30 September 2024	25,361	25,361
	--------	--------
Depreciation
At 1 October 2023	10,394	10,394
Charge for the year	6,995	6,995
	--------	--------
At 30 September 2024	17,389	17,389
	--------	--------
Carrying amount
At 30 September 2024	7,972	7,972
	--------	--------
At 30 September 2023	12,500	12,500
	--------	--------

7. Investments

	Shares in group undertakings
	£
Cost
At 1 October 2023 and 30 September 2024	56
	----
Impairment
At 1 October 2023 and 30 September 2024	–
	----

Carrying amount
At 30 September 2024	56
	----
At 30 September 2023	56
	----

8. Debtors

	2024	2023
	£	£
Trade debtors	281,661	318,334
Amounts owed by group undertakings and undertakings in which the company has a participating interest	6,390,355	6,391,965
Other debtors	122,720	134,154
	------------	------------
	6,794,736	6,844,453
	------------	------------

9. Creditors: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	38,736	68,240
Corporation tax	300,806	607,411
Social security and other taxes	25,804	3,549
Other creditors	212,306	343,104
	---------	------------
	577,652	1,022,304
	---------	------------

HBSC Bank PLC holds fixed and floating charges dated 30 May 2017 covering all the property or undertaking of the company, the outstanding charge contains a negative pledge.

10. Summary audit opinion

The auditor's report dated 29 September 2025 was unqualified .

The senior statutory auditor was Stewart Jell , for and on behalf of Moore Kingston Smith LLP .

11. Related party transactions

No related party transactions were carried out by the company that needed to be disclosed under FRS 102.

12. Controlling party

The ultimate parent undertaking is Archive Investments Limited , a company registered in England and controlled by a director, Mr T C Parker .