ACCOUNTS - Final Accounts preparation

Registered number: 15674775

MAGNA HOLLYWOOD LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE PERIOD 24 APRIL 2024 TO 31 DECEMBER 2024


MAGNA HOLLYWOOD LIMITED REGISTERED NUMBER:15674775

BALANCE SHEET

AS AT 31 DECEMBER 2024

		2024
Note		£


Current assets
Stocks	4	2,838,004
Debtors: amounts falling due within one year	5	631,802
		3,469,806
Creditors: amounts falling due within one year	6	(3,515,398)
Net current liabilities			(45,592)
Total assets less current liabilities			(45,592)

Net liabilities			(45,592)

Capital and reserves
Called up share capital	7	100
Profit and loss account		(45,692)
		(45,592)

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

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.

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 by:

T Benski

Director

Date: 29 September 2025

The notes on pages 2 to 4 form part of these financial statements.

Page 1


MAGNA HOLLYWOOD LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2024

1.	General information

Magna Hollywood Limited is a private company, limited by shares, registered in England and Wales, registration number 15674775. The registered office address is Elsley Court, 20-22 Great Titchfield Street, London, W1W 8BE.
The company was incorporated on 24 April 2024 and commenced trade on the same date.
The principal activity of the company is that of motion picture production activities.

On 25 April 2024, a written resolution was passed to shorten the company's accounting reference date from 30 April 2025 to 31 December 2024.

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 Section 1A of the Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006.

2.2

Going concern

The financial statements have been prepared on the going concern basis as the directors have confirmed that they will continue to provide necessary funding in order for the company to maintain its operations and meet liabilities in full for at least the next 12 months. On this basis, the directors are satisfied that the financial statements should be prepared on a going concern basis.

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. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the profit and loss account within 'administrative expenses'. All other foreign exchange gains and losses are presented in profit or loss.

2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the period in which they are incurred.

Page 2


MAGNA HOLLYWOOD LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.5

Stocks

Work in progress represents the cost of film production activities. Production costs are amortised to the profit and loss account over the period in which the rights to the relevant film production are exploited by the company.

2.6

Debtors

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

2.7

Creditors

Short-term creditors are measured at the transaction price.

2.8

Financial instruments

The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as other debtors, other creditors and loans with related parties and investments in ordinary shares.

Employees

The average monthly number of employees, including directors, during the period was 2.

4.	Stocks
		2024
		£

	Production costs	2,838,004

Debtors

					2024
					£


	Amounts owed by group undertakings	611,802
	Other debtors	20,000
		631,802

Page 3


MAGNA HOLLYWOOD LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2024

6.	Creditors: amounts falling due within one year
		2024
		£

	Other loans	146,889
	Trade creditors	3,040
	Amounts owed to group undertakings	2,740
	Other taxation and social security	55,871
	Other creditors	131,692
	Accruals and deferred income	3,175,166
		3,515,398

Magna Studios Limited holds a floating and fixed charge which contains a negative pledge over the intellectual property in the film in respect of all the amounts due from the company.
British Broadcasting Corporation holds a floating and fixed charge which contains a negative pledge over the assets of the company in respect of all the amounts due from the company.

7.	Share capital
		2024
		£

		Allotted, called up and fully paid

		100 ordinary shares of £1.00 each	100

On incorporation, 100 ordinary shares of £1 each issued at par and fully paid.

8.	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, as the company is itself a wholly owned subsidiary of Magna Studios Limited.

Page 4