COMPANY REGISTRATION NUMBER:
NI646340
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Element Pictures Television Limited |
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Filleted Financial Statements |
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Element Pictures Television Limited |
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Statement of Financial Position |
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31 December 2024
Fixed assets
Current assets
|
Stocks |
345,301 |
181,836 |
|
Debtors |
6 |
556,539 |
845,032 |
|
Cash at bank and in hand |
513,475 |
357,164 |
|
------------ |
------------ |
|
1,415,315 |
1,384,032 |
|
|
|
|
|
Creditors: amounts falling due within one year |
7 |
(
1,381,642) |
(
1,350,359) |
|
------------ |
------------ |
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Net current assets |
33,673 |
33,673 |
|
-------- |
-------- |
|
Total assets less current liabilities |
33,799 |
33,799 |
|
-------- |
-------- |
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Net assets |
33,799 |
33,799 |
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-------- |
-------- |
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|
|
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Capital and reserves
|
Called up share capital |
8 |
2 |
2 |
|
Profit and loss account |
33,797 |
33,797 |
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-------- |
-------- |
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Shareholders funds |
33,799 |
33,799 |
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-------- |
-------- |
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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
30 September 2025
, and are signed on behalf of the board by:
Company registration number:
NI646340
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Element Pictures Television Limited |
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Notes to the Financial Statements |
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Year ended 31 December 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 Harbinson Mulholland Centrepoint, 24 Ormeau Avenue, Belfast, BT2 8HS, UK.
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.
Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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.
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.
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.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
Work in progress
Work-in-progress relates to direct production costs, net of tax credits, subsidies and grants, incurred on productions not delivered during the period. Production costs are recognised in the profit and loss accounts as soon as the programme is delivered and the related production revenue is recognised.
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.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
2
(2023:
4
).
5.
Investments
|
Shares in group undertakings |
Shares in participating interests |
Total |
|
£ |
£ |
£ |
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Cost |
|
|
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At 1 January 2024 and 31 December 2024 |
101 |
25 |
126 |
|
---- |
---- |
---- |
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Impairment |
|
|
|
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At 1 January 2024 and 31 December 2024 |
– |
– |
– |
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---- |
---- |
---- |
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|
|
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Carrying amount |
|
|
|
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At 31 December 2024 |
101 |
25 |
126 |
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---- |
---- |
---- |
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At 31 December 2023 |
101 |
25 |
126 |
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---- |
---- |
---- |
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|
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6.
Debtors
|
2024 |
2023 |
|
£ |
£ |
|
Trade debtors |
276,067 |
23,583 |
|
Amounts owed by group undertakings |
209,484 |
572,356 |
|
Prepayments and accrued income |
– |
1,102 |
|
Other debtors |
70,988 |
247,991 |
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--------- |
--------- |
|
556,539 |
845,032 |
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--------- |
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7.
Creditors:
amounts falling due within one year
|
2024 |
2023 |
|
£ |
£ |
|
Trade creditors |
484 |
1,106 |
|
Amounts owed to group undertakings |
1,088,128 |
1,310,880 |
|
Amounts owed to undertakings in which the company has a participating interest |
– |
25 |
|
Accruals and deferred income |
260,115 |
9,182 |
|
Social security and other taxes |
32,915 |
29,166 |
|
------------ |
------------ |
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1,381,642 |
1,350,359 |
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------------ |
------------ |
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8.
Called up share capital
Issued, called up and fully paid
|
2024 |
2023 |
|
No. |
£ |
No. |
£ |
|
Ordinary shares of £ 1 each |
2 |
2 |
2 |
2 |
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---- |
---- |
---- |
---- |
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9.
Summary audit opinion
The auditor's report dated
30 September 2025
was
unqualified
.
The senior statutory auditor was
Gurvir Cheema
, for and on behalf of
Moore Kingston Smith LLP
.
10.
Related party transactions
All transactions arose on an arm's-length basis through the normal course of business. The company has taken advantage of Section 33 of FRS 102 from disclosing transactions entered into between two or more members of a group, where any subsidiary undertaking which is a party to the transaction is wholly owned by a member of that group. No further transactions with related parties were undertaken such as are required to be disclosed under FRS 102.
11.
Controlling party
In the opinion of the directors the immediate parent undertaking is Element Pictures UK Holdings Limited, a company incorporated in Northern Ireland. The smallest group to consolidate these financial statements is RTL Group S.A., a Company registered in Luxembourg. Copies of the RTL Group S.A. Annual Report can be obtained from the General Counsel at RTL Group S.A., 43 Boulevard Pierre Frieden, L-1543 Luxembourg. The ultimate parent undertaking and controlling party is Bertelsmann SE & Co.KGaA, a Company registered in Germany, which is the largest group to consolidate these accounts. Copies of the Bertelsmann SE & Co.KGaA accounts can be obtained from the General Counsel at Bertelsmann SE & Co.KGaA, Carl Bertelsmann Straße 270, 33311 Gütersloh, Germany.