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Registered number:
FOR THE PERIOD ENDED 31 DECEMBER 2024
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OCTOBER FILMS HOLDINGS LIMITED
COMPANY INFORMATION
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OCTOBER FILMS HOLDINGS LIMITED
CONTENTS
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OCTOBER FILMS HOLDINGS LIMITED
GROUP STRATEGIC REPORT
FOR THE PERIOD ENDED 31 DECEMBER 2024
October Films Holdings Limited, henceforth referred to as the 'company', is an unquoted private limited company; the principal activity of which is that of being the holding company of the 'October Films' group of companies, henceforth collectively referred to as the 'group'. The principal activity of the group during the reporting period is that of the development, production and distribution of television programming.
The directors do not anticipate changes in the principal activities of the company and its group over the coming year.
The group’s financial performance for the reporting period and financial position as at 31 December 2024 are shown on pages 9 - 10 of the financial statements.
To ensure focus is maintained on the key priorities of the group, the board use a range of financial and nonfinancial performance indicators to monitor and manage the group's overall performance against operatingplans, financial budgets and forecasts.
In the opinion of the board, the KPI's relevant to the understanding of the development, performance and/orposition of the group are as follows:
The execution of the group's strategy is subject to a number of risks, and the board have overall responsibility for developing and implementing systems of internal control and risk management and for reviewing their overall effectiveness.
The board have in place guidelines, as outlined below, to manage key risks by taking appropriate steps to identify and mitigate such risks. Sales risk The group operates in a highly competitive market in which the group is at risk of losing valuable business to its competitors.
This report was approved by the board on 30 September 2025 and signed on its behalf.
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OCTOBER FILMS HOLDINGS LIMITED
DIRECTORS' REPORT
FOR THE PERIOD ENDED 31 DECEMBER 2024
The directors present their report and the financial statements for the period ended 31 December 2024.
The directors who served during the period were:
The loss for the period, after taxation, amounted to £798,196 (2023 - loss 85,180).
As of the date upon which this report was approved, the directors have not recommended payment of any dividend in respect of the financial performance for the period ended 31 December 2024.
The group funds its operations through its trading activities and, where applicable, external loan financing on specific commissions. Through its trading activities, the group is exposed to certain levels of credit, currency and liquidity risk.
The group’s credit risk is primarily attributable to its trade receivables which the group manages through the assessment of the credit risk of current and potential customers and ongoing review and collection of outstanding receivables. At the balance sheet date, the directors of October Films Holdings Limited were not aware of any actual or potentially significant concentrations of credit risk in regard to October Holdings Limited, as an individual entity, and its group. The group enters into transactions that are denominated in currencies other than its functional currency, primarily the US Dollar and Euro, and is therefore exposed to movements in foreign currency exchange rates. Where exchange rates change between reporting periods, fluctuations in the reported results of the group's operations may arise that are reflective of currency performance and not indicative of operating performance. The group will therefore use currency specific bank facilities and forward currency contracts, where considered financially appropriate, to manage exposure to movements in foreign currency exchange rates. Liquidity risk is monitored on an ongoing basis as part of the group's day to day control activities and through periodic financial reviews and forecast exercises with action taken as considered necessary. Such action may include the acquisition of commercial credit and bank overdraft facilities as well as the retention of cash balances; thereby ensuring appropriate funding facilities are continually available within the group.
There are no significant future developments to report as of the date this report was approved by the directors. The group is expected to continue trading as historically observed.
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OCTOBER FILMS HOLDINGS LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
The group's principal financial instruments comprise of bank balances, trade receivables and payables and, where necessary, forward currency contracts and credit facilities provided by financial institutions. Due to the nature of the financial instruments used by the company there is no exposure to price risk. The company does not follow any specific code or standard practice on the payment of trade payables. The company's policy is to adhere to agreed terms and conditions and ensure timely payment in accordance with these terms for all suppliers.
The group meets its day to day working capital requirements through the utilisation of its own funds and its bank facilities.
After reviewing the group's forecast and projection the directors have a reasonable expectation that the group have adequate resources to continue in operational existence for the foreseeable future. The directors therefore consider it appropriate to adopt the going concern basis in preparing the group's financial statements.
The directors are responsible for preparing the group strategic report, the directors' report and the consolidated financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Group's financial statements and then apply them consistently;
∙make judgments and accounting estimates that are reasonable and prudent;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and the Group and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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OCTOBER FILMS HOLDINGS LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
As of the date of this report being approved, there have been no significant events affecting the company that have transpired after the reporting date to delineate.
The auditors, Nyman Libson Paul LLP, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board on
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OCTOBER FILMS HOLDINGS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF OCTOBER FILMS HOLDINGS LIMITED
We have audited the financial statements of October Films Holdings Limited (the 'parent company') and its subsidiaries (the 'Group') for the period ended 31 December 2024, which comprise the consolidated statement of comprehensive income, the Consolidated Statement of Financial Position, the Company Statement of Financial Position, the Consolidated Statement of Cash Flows, the Consolidated Statement of Changes in Equity, the Company Statement of Changes in Equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group's or the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
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OCTOBER FILMS HOLDINGS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF OCTOBER FILMS HOLDINGS LIMITED (CONTINUED)
The other information comprises the information included in the Annual Report other than the financial statements and our auditors' report thereon. The directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the group strategic report and the directors' report for the financial period for which the financial statements are prepared is consistent with the financial statements; and
∙the group strategic report and the directors' report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the group strategic report or the directors' report.
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OCTOBER FILMS HOLDINGS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF OCTOBER FILMS HOLDINGS LIMITED (CONTINUED)
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these Group financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
We gained an understanding of the legal and regulatory framework applicable to the group/company and the industry in which it operates and considered the risk of acts by the group/company that were contrary to applicable laws and regulations, including fraud. We designed audit procedures to respond to the risk, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion. We focussed on laws and regulations which could give rise to a material misstatement in the financial statements, including, but not limited to, the Companies Act 2006 and UK tax legislation. Our tests included agreeing the financial statement disclosures to underlying supporting documentation and enquiries with management. There are inherent limitations in the audit procedures described above and, the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. We did not identify any key audit matters relating to irregularities, including fraud. As in all our audits, we also addressed the risk of management override of internal controls, including testing journals and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud. We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or noncompliance with laws and regulations throughout the audit.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditors' report.
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OCTOBER FILMS HOLDINGS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF OCTOBER FILMS HOLDINGS LIMITED (CONTINUED)
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Chartered Accountants
Statutory Auditors
124 Finchley Road
NW3 5JS
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OCTOBER FILMS HOLDINGS LIMITED
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE PERIOD ENDED 31 DECEMBER 2024
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OCTOBER FILMS HOLDINGS LIMITED
REGISTERED NUMBER: 14455363
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024
The financial statements were approved and authorised for issue by the board and were signed on its behalf on
The notes on pages 16 to 34 form part of these financial statements.
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OCTOBER FILMS HOLDINGS LIMITED
REGISTERED NUMBER: 14455363
COMPANY STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024
The financial statements were approved and authorised for issue by the board and were signed on its behalf on
The notes on pages 16 to 34 form part of these financial statements.
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