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Company Registration No. 06748791 (England and Wales)
Cinemanx Films Two Limited Unaudited accounts for the period from 1 December 2024 to 31 March 2025
Cinemanx Films Two Limited Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
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Cinemanx Films Two Limited Company Information for the period from 1 December 2024 to 31 March 2025
Directors
S J Ingrassia KS Ellis
Company Number
06748791 (England and Wales)
Registered Office
CANON PLACE 78 CANNON STREET LONDON EC4N 6AF ENGLAND
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Cinemanx Films Two Limited Statement of financial position as at 31 March 2025
2025
2024
Notes
£
£
Fixed assets
Investments
4
2
2
Current assets
Debtors
5
59,541
54,128
Cash at bank and in hand
89
-
59,630
54,128
Creditors: amounts falling due within one year
6
(92,861)
(81,313)
Net current liabilities
(33,231)
(27,185)
Net liabilities
(33,229)
(27,183)
Capital and reserves
Called up share capital
2
2
Profit and loss account
(33,231)
(27,185)
Shareholders' funds
(33,229)
(27,183)
For the period ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 10 October 2025 and were signed on its behalf by
S J Ingrassia Director Company Registration No. 06748791
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Cinemanx Films Two Limited Notes to the Accounts for the period from 1 December 2024 to 31 March 2025
1
Statutory information
Cinemanx Films Two Limited is a private company, limited by shares, registered in England and Wales, registration number 06748791. The registered office is CANON PLACE, 78 CANNON STREET, LONDON, EC4N 6AF, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous period, and also have been consistently applied within the same accounts.
Basis of preparation
These accounts have been prepared in compliance with FRS102
Going concern
Repayment of the amounts due from the Cinemanx Group to the Isle of Man Treasury will not be called for repayment until a full review of the financial position of the Cinemanx Group has been been completed and the Isle of Man Treasury has confirmed that they will not enforce repayment where the company has insufficient liquid assets to satisfy, thus allowing the company to continue as a going concern.
Expenditure
Expenditure is recognised on an accruals basis.
Intangible fixed assets
Intangible fixed assets are included at cost less accumulated amortisation and any accumulated impairment losses. The company holds the international and UK rights to the theatrical feature film "The Disappearance of Alice Creed". The UK rights to the royalties are held by the distribution company Cinemanx Distribution Limited, a company that is part of the Cinemanx Group of companies.
Investment in subsidiary
Investments are measured at cost.
Short-term debtors and creditors
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. any losses arising from impairment are recognised in profit or loss in other operating expenses.
Statement of cashflows
Under FRS102, the company is exempt from the requirement to prepare a statement of cashflows on the grounds that it qualifies as a small entity.
Comparative period
The comparative figures are for the period from 1 December 2023 to 30 November 2024.
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Cinemanx Films Two Limited Notes to the Accounts for the period from 1 December 2024 to 31 March 2025
4
Investments
Subsidiary undertakings
£
Valuation at 1 December 2024
2
Valuation at 31 March 2025
2
The company holds 100% in Cinemanx Productions Two Limited ("CNX P2"), a company incorporated in England, of which is the rights holder and film development and productions company of theatrical feature films. The net asset value of CNX P2 as at 31 March 2025 was GBP3,639 (2024: GBP18,383) and the loss transferred to reserves was GBP14,744 (2024: GBP18,249).
5
Debtors
2025
2024
£
£
Amounts falling due within one year
VAT
104
-
Accrued income and prepayments
2,506
-
Other debtors
56,931
54,128
59,541
54,128
6
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
17,470
-
Other creditors
68,240
68,140
Accruals
7,151
13,173
92,861
81,313
The company received funding of GBP850,000 from Pinewood, a company in which the controlling party has a minority interest, to invest in the production of the theatrical feature film "The Disappearance of Alice Creed". The Isle of Man Treasury has provided assurances that the loans will not be called in for repayment until a full review of the financial position of the Cinemanx Group has been completed. The balance of the loan at the reporting date was GBP51,328 (2023: GBP51,328).
7
Contingent liabilities
Charges have been made against the theatrical feature film "The Disappearance of Alice Creed" in favour of the following party to secure their interests in the copyright and title to the film: Cinemanx Limited
8
Transactions with related parties
As at the reporting date, the directors of the company were also directors of Boston Limited (“Boston”) During the period an amount of GBPnil (30 November 2024: GBP16,812) was paid to Boston in their capacity as administrator, an amount of GBP7,151 (30 November 2024: GBP13,173) was accrued, an amount of GBP2,507 (30 November 2024: GBPnil) was prepaid and an amount of GBP17,470 (30 November 2024: GBPnil) was owed as at the reporting date. All services have been provided on an arm’s length basis at the standard commercial terms of Boston. The company has a loan facility of up to GBP100,000 provided by a fellow subsidiary, Cinemanx Distribution Limited. The loan is unsecured, interest free and repayable after the service of written demand to the extent that there are sufficient liquid assets to satisfy the demand, and only after the payment of all other liabilities.
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Cinemanx Films Two Limited Notes to the Accounts for the period from 1 December 2024 to 31 March 2025
9
Controlling party
As at the reporting date, the entire issued share capital of the company was held by Cinemanx Limited and is considered part of the Cinemanx Group. In December 2020 Cinemanx Limited was acquired by the Isle of Man Treasury, a department of the Isle of Man Government.
10
Post balance sheet events
Since the reporting date, the Isle of Man Treasury has provided funding to the Company in order to cover its expenses. There is no formal loan agreement in place, however, the loan is to be treated as unsecured, interest free and repayable on demand.
11
Average number of employees
During the period the average number of employees was 0 (2024: 0).
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