A.I.Film Production Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 08669219

A.I.Film Production Limited

Filleted Financial Statements

31 December 2024

A.I.Film Production Limited

Statement of Financial Position

31 December 2024

	2024	2023
Note	£	£

Fixed assets

Intangible assets	5	66,310	3,680,168
Investments	6	33	33
		--------	------------
		66,343	3,680,201

Current assets

Debtors	7	6,501,077	6,787,498
Cash at bank and in hand		124,576	559,922
		------------	------------
		6,625,653	7,347,420

Creditors: amounts falling due within one year	8	11,394,963	11,080,212
		-------------	-------------
Net current liabilities		4,769,310	3,732,792
		------------	------------
Total assets less current liabilities		( 4,702,967)	( 52,591)
		------------	--------
Net liabilities		( 4,702,967)	( 52,591)
		------------	--------

Capital and reserves

Called up share capital	9	1	1
Profit and loss account		( 4,702,968)	( 52,592)
		------------	--------
Shareholders deficit		( 4,702,967)	( 52,591)
		------------	--------

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 4 November 2025 , and are signed on behalf of the board by:

V C Holden

Director

Company registration number: 08669219

A.I.Film Production Limited

Notes to the Financial Statements

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 10 Orange Street, Haymarket, London, England, WC2H 7DQ.

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 under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland ('FRS 102 1A') and the Companies Act 2006. The Company is the parent undertaking of a small group and as such is not required by the Companies Act 2006 to prepare group accounts. These financial statements therefore present information about the Company as an individual entity and not about its group. The following principal accounting policies have been applied:

Going concern

The company made a loss in the year and is in a net liability position at the year end. The directors have concluded that the amounts due from group and joint venture undertakings are stated at their recoverable amounts and there will not be a demand for repayment of amounts due to group undertakings unless the company has the resources to honour such payments. AI Film Productions LLC, a company incorporated in United States of America is the parent company of the company. The directors have received confirmation from AI Film Productions LLC, of its continued financial support for 12 months from the date of approval of these financial statements, and the directors have concluded that AI Film Productions LLC has the resources to provide such financial support. The directors are confident given the financial resources available to it and with the continued financial support from the parent company, that the company has adequate resources for all reasonably expected eventualities. After making enquiries, the directors have reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The Company therefore continues to adopt the going concern basis in preparing its financial statements.

Turnover

Turnover represents amounts receivable by the company for film related income and recoverable costs exclusive of Value Added Tax. Turnover is recognised in accordance with the underlying agreements entered into and when the performance obligations are satisfied.

Foreign currencies

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling at the reporting date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange gains and losses are recognised in the statement of income and retained earnings.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Intangible assets relate to film development costs and licences. Amortisation commences when the production is complete and delivered.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Film Rights	-	Based on the expected total remaining revenue on the individual film

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Investments

Investments held as fixed assets are shown at cost less provision for impairment.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Financial instruments

The Company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues of FRS 102 to all of its financial instruments. Financial instruments are recognised when the Company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the financial asset is measured at the present value of the future receipts discounted at a market rate of interest. Impairment of financial assets Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date. Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss. If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss. Derecognition of financial assets Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the Company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party. Classification of financial liabilities 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 Company after deducting all of its liabilities. Basic financial liabilities Basic financial liabilities, including trade and other creditors, bank loans, loans from fellow Company companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost. using the effective interest rate method. Financial liabilities held at fair value Debt instruments where the contractual returns, repayment of the principal, or other terms (such as prepayment provisions or term extensions) do not meet the conditions to be measured at amortised cost, are subsequently measured at fair value through profit or loss, unless fair value measurement is not permitted by law, or the debt instrument gives rise to cash flows on specified dates that constitute repayment of the principal advanced, together with reasonable compensation for the time value of money, credit risk and other basic lending risks and costs and does not have contractual terms which introduce exposure to unrelated risks or volatility. Derecognition of financial liabilities Financial liabilities are derecognised when, and only when, the Company's contractual obligations are discharged, cancelled, or they expire. Equity instruments Equity instruments issued by the Company are recorded at the fair value of proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

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. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

4. Staff

The average number of staff during the year, including the director was 2 (2023: 2).

5. Intangible assets

	Film Rights
	£
Cost
At 1 January 2024 and 31 December 2024	4,204,683
	------------
Amortisation
At 1 January 2024	524,515
Charge for the year	–
Impairment losses	3,613,858
	------------
At 31 December 2024	4,138,373
	------------
Carrying amount
At 31 December 2024	66,310
	------------
At 31 December 2023	3,680,168
	------------

6. Investments

	Shares in group undertakings	Shares in participating interests	Total
	£	£	£
Cost
At 1 January 2024 and 31 December 2024	2	31	33
	----	----	----
Impairment
At 1 January 2024 and 31 December 2024	–	–	–
	----	----	----

Carrying amount
At 31 December 2024	2	31	33
	----	----	----
At 31 December 2023	2	31	33
	----	----	----

The following were wholly owned subsidiary undertakings of the Company:

AI Film Management Limited

AI KYF Film Limited

The company also held a 50% shareholding in Dunburn Debutantes Commissioning Company PTY Ltd, a company incorporated in Australia, as at 31 December 2024.

7. Debtors

	2024	2023
	£	£
Amounts owed by group undertakings and undertakings in which the company has a participating interest	6,488,262	6,787,498
Other debtors	12,815	–
	------------	------------
	6,501,077	6,787,498
	------------	------------

8. Creditors: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	–	54,620
Amounts owed to group undertakings and undertakings in which the company has a participating interest	11,383,463	11,012,061
Other creditors	11,500	13,531
	-------------	-------------
	11,394,963	11,080,212
	-------------	-------------

9. Called up share capital

Issued, called up and fully paid

	2024		2023
	No.	£	No.	£
Ordinary shares of £ 1 each	1	1	1	1
	----	----	----	----

10. Charges

A fixed and floating charge containing a negative pledge is held over all property or undertaking of the company by the British Broadcasting Corporation.

A fixed and floating charge containing a negative pledge is held over all property or undertaking of the company by A.I. Film Production LLC.

11. Summary audit opinion

The auditor's report dated 4 November 2025 was unqualified .

The senior statutory auditor was Peter Conneely , for and on behalf of Moore Kingston Smith LLP .

12. Related party transactions

At 31 December 2024 the Company was a wholly owned subsidiary of Al Film Production LLC. Accordingly, the Company has taken advantage of the exemption in FRS 102 from disclosing transactions with its parent and other wholly owned subsidiaries. During the year, amounts were received on behalf of Unigram Media Limited, a related party under common control. At 31 December 2024 the balance owed to Unigram Media Limited was £3,567,165 (2023: £3,463,667). During the year, amounts were advanced to Dunburn Debutantes Commissioning Company PTY Limited, a joint venture incorporated in Australia. At 31 December 2024 the balance due from Dunburn Debutantes Commissioning Company PTY Limited was £6,774,285 (2023: £6,517,597). There were no further related party transactions requiring disclosure under FRS 102.

13. Ultimate parent undertaking and controlling party

The Company's immediate parent undertaking is AI Film Production LLC, a company registered in the United States of America. The Company's ultimate controlling party is LBIT 2002 LLC, registered in the United States of America. At 31 December 2024 an amount of £281,335 (2023: £258,942) is due to LBIT 2002 LLC.