ACCOUNTS - Final Accounts preparation

Registered number: 13600784

PROJECT 237 LIMITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

PROJECT 237 LIMITED

REGISTERED NUMBER: 13600784

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2024

	2024	2024	2023	2023
Note	£	£	£	£


Current assets
Debtors: amounts falling due within one year	4	3,952		1,379,539
Cash at bank and in hand		143,884		290,458
		147,836		1,669,997
Creditors: amounts falling due within one year	5	(159,371)		(1,669,897)
Net current (liabilities)/assets			(11,535)		100

Net (liabilities)/assets			(11,535)		100

Capital and reserves
Called up share capital	6	100	100
Profit and loss account		(11,635)	-
		(11,535)	100

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 by:

N Howson

Director

Date: 29 September 2025

The notes on pages 2 to 5 form part of these financial statements.

Page 1

PROJECT 237 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.	General information

The principal activity of the company is that of the production of broadcast content for distribution.
Project 237 Limited is a private company limited by shares incorporated in the United Kingdom and registered in England and Wales. The address of its registered office is 7 Savoy Court, London, WC2R 0EX.
The comparative figures cover the period from 3 September 2022 to 31 December 2023.

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 following principal accounting policies have been applied:

2.2

Going concern

The company was originally established as a special purpose vehicle to produce specific broadcast content for a third party, following which the company would no longer be required. In line with the company's business model, that project has now completed and as a result, the directors intend to carry out an orderly and controlled closure of the company, which will result in its winding up and dissolution.
As a result, the directors have prepared the financial statements on a basis other than going concern. This has not had any impact on the carrying value of the company's assets or liabilities and the directors have received assurances from the company's parent undertaking that sufficient resources will be made available to meet all ongoing external obligations and winding up costs.

2.3

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is Pound Sterling.

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.

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.

Page 2

PROJECT 237 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.4

Revenue

Turnover in the Statement of comprehensive income relates to amounts earned in relation to television programme production.
Production funding is recognised in the Statement of comprehensive income over the period of the production. Where production funds received exceed costs incurred to date, the balance is treated as deferred income and held on the Statement of financial position until further costs are incurred. At that point the deferred income is released to the Statement of comprehensive income.

2.5

Cost of sales

Production costs incurred in producing a television programme are recognised in the Statement of comprehensive income as cost of sales in the period in which they are incurred.

2.6

Taxation

Tax is recognised in the Statement of comprehensive income. 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.
The company is eligible to claim a tax credit on television programme production costs. The tax credit comprises relief based on total net costs and an additional deduction for enhanceable expenditure. The company claims a payment based on the amount of enhanced expenditure and carries losses arising from total net costs forward against future profits.

2.7

Debtors

Short-term debtors are measured at the transaction price, less any impairment.

2.8

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.

2.9

Creditors

Short-term creditors are measured at the transaction price.

2.10

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors.

Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 4).

Page 3

PROJECT 237 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Debtors

					2024	2023
					£	£


Other debtors	3,952	116,161
Tax recoverable	-	1,263,378
	3,952	1,379,539

5.	Creditors: Amounts falling due within one year
		2024	2023
		£	£

Trade creditors	12,135	183,879
Amounts owed to group undertakings	110,518	550,408
Other creditors	-	927,610
Accruals and deferred income	36,718	8,000
	159,371	1,669,897

6.	Share capital
		2024	2023
		£	£

Allotted, called up and fully paid

100 (2023 - 100) Ordinary shares of £1.00 each	100	100

There is a single class of Ordinary share. There are no restrictions on the distribution of dividends paid and the repayment of capital.

Related party transactions

No disclosure has been made of transactions with other wholly owned group companies in accordance with FRS 102 Section 1A paragraph 1AC.35.
During the year, Footwork Productions Limited, a connected company by virtue of its interest in DRJB Holdings Limited, charged fees amounting to £nil (2023: £1,746,096) to the company. At the balance sheet date, the amount due to Footwork Productions Limited was £nil (2023: £nil).

Page 4

PROJECT 237 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

8.	Controlling party

At the balance sheet date, the parent of the smallest group for which consolidated accounts have been drawn up of which this company is a member is DRJB Holdings Limited, a company registered in England and Wales, whose registered office is 7 Savoy Court, London, WC2R 0EX.

9.	Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified.

The audit report was signed on 29 September 2025 by Richard Gilbert (Senior statutory auditor) on behalf of SRLV Audit Limited.

Page 5