ACCOUNTS - Final Accounts preparation

Company registration number: 14495597

	FINANCIAL STATEMENTS
	FOR THE YEAR ENDED 31 DECEMBER 2024

	CRAFTY APES UK LIMITED


CRAFTY APES UK LIMITED

COMPANY INFORMATION

Directors	G Broglio (resigned 20 November 2024)
	C Lloyd (resigned 20 November 2024)
	J Ernberg (appointed 20 November 2024)
	J P Barnes (appointed 20 November 2024)
	K L A Dencik (appointed 20 November 2024)


Registered number	14495597


Registered office	4th Floor
	95 Gresham Street
	London
	EC2V 7AB


Independent auditor	Menzies LLP
	Chartered Accountants & Statutory Auditor
	4th Floor
	95 Gresham Street
	London
	EC2V 7AB


CRAFTY APES UK LIMITED

CONTENTS

	Page
Statement of financial position	1
Notes to the financial statements	2 - 6


CRAFTY APES UK LIMITED REGISTERED NUMBER:14495597

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2024

		2024		2023
Note		£		£

Fixed assets
Tangible assets	5		19,518		-
			19,518		-
Current assets
Debtors: amounts falling due within one year	6	72,811		50,229
Cash at bank and in hand		51,847		30,834
		124,658		81,063
Creditors: amounts falling due within one year	7	(949,257)		(409,567)
Net current liabilities			(824,599)		(328,504)
Total assets less current liabilities			(805,081)		(328,504)

Net liabilities			(805,081)		(328,504)

Capital and reserves
Called up share capital	1	1
Profit and loss account	(805,082)	(328,505)
	(805,081)	(328,504)

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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 statement of income and retained earnings 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:

K L A Dencik

Director

Date: 3 November 2025

The notes on pages 2 to 6 form part of these financial statements.

Page 1


CRAFTY APES UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.	General information

Crafty Apes UK Limited is a private company, limited by shares, registered in England and Wales, and company registration number 14495597. The registered office is stated on the company information page.
The Company was incorporated and began trading on 21 November 2022. The comparative 2023 numbers cover the long period ended 31 December 2023.

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

2.2

Going concern

As at the year end, the company has net liabilities of £805,081 (2023: £328,504). Based on continued support from the parent company, the directors believe that the Company remains a going concern and as such the financial statements have been prepared on this basis.

2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

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 resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Page 2


CRAFTY APES UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.4

Revenue

Revenue is generated through the production of movie and television effects and is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue is generated through the production of movie and television effects and from a contract to provide services.
Revenue is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Page 3


CRAFTY APES UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.6

Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Computer equipment

3 years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.7

Holiday pay accrual

A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the reporting date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement and accrued at the reporting date.

2.8

Financial instruments

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipt discounted at a market rate of interest.

3.	Judgments in applying accounting policies and key sources of estimation uncertainty

In the application of the Company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
Key sources of estimation uncertainty
The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.
Work in progress
Work in progress is based on work complete and not yet invoiced. An estimated percentage of completion is allocated to each item of revenue which is in progress at the reporting date.

Page 4


CRAFTY APES UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Employees

The average monthly number of employees, including the directors, during the year was as follows:

	31 December	31 December
	2024	2023
	No.	No.

Directors	2	2
Employees	7	5

	9	7

5.	Tangible fixed assets

		Computer equipment
		£
	Cost or valuation
	Additions	25,095
	At 31 December 2024	25,095
	Depreciation
	Charge for the year on owned assets	5,577
	At 31 December 2024	5,577
	Net book value
	At 31 December 2024	19,518
	At 31 December 2023	-

Debtors

					2024	2023
					£	£


Trade debtors	33,132	-
Prepayments and accrued income	39,679	50,229
	72,811	50,229

Page 5


CRAFTY APES UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

7.	Creditors: Amounts falling due within one year
		2024	2023
		£	£

Trade creditors	8,259	4,251
Amounts owed to group undertakings	760,999	309,102
Other taxation and social security	91,719	39,804
Other creditors	663	1,153
Accruals and deferred income	87,617	55,257
	949,257	409,567

8.	Post balance sheet events

On 30 June 2025, the Company entered into a lease with a total commitment of £500k over 3 years.

9.	Ultimate controlling party

The parent company is Crafty Apes LLC, registered at 127 Lomita Street, El Segundo, United States, CA 90245. The parent company is also the ultimate parent company. Crafty Apes LLC is the parent of the smallest group for which consolidated financial statements are drawn up.

10.	Auditor's information

The auditor's report on the financial statements for the year ended 31 December 2024 was unqualified.

The audit report was signed on 3 November 2025 by Andrew Wooding FCA (Senior statutory auditor) on behalf of Menzies LLP.

Page 6