Company registration number 03371279 (England and Wales)
NUTOPIA LIMITED
FINANCIAL STATEMENTS
for the year ended
31 MARCH 2025
NUTOPIA LIMITED
COMPANY INFORMATION
Directors
J. Root
C. Griffin
Secretary
L Collins
Company number
03371279
Registered office
Summit House
170 Finchley Road
London
NW3 6BP
Auditor
Fisher Phillips
Summit House
170 Finchley Road
London
NW3 6BP
Business address
1st Floor
Kirkman House
12/14 Whitfield Street
London
W1T 2RF
NUTOPIA LIMITED
CONTENTS
Page
Strategic report
1 - 2
Directors' report
3 - 4
Independent auditor's report
5 - 7
Group statement of comprehensive income
8
Group balance sheet
9
Company balance sheet
10
Group statement of changes in equity
11
Company statement of changes in equity
12
Group statement of cash flows
13
Company statement of cash flows
14
Notes to the financial statements
15 - 31
NUTOPIA LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2025
- 1 -

The directors present the strategic report for the year ended 31 March 2025.

Fair review of the business

Nutopia is a leading UK independent producer of high quality specialist factual programmes for UK broadcasters and US cable and SVOD networks, for domestic and international distribution.

The principal activity of the group is the development, production and distribution of premium television programmes.

Results

The group’s turnover for the year was £28,639,368 (2024: £20,288,922), an increase of 41% on 2024. Profit before tax was £3,684,322 (2024: £381,446). The uplift primarily reflects a stronger delivery slate and the timing of milestone billings across key programmes, with disciplined cost control and other operating income supporting profitability.

As at 31 March 2025, the total shareholders' funds for the group have increased by 19% to £12,489,538 (2024: £10,527,661).

The directors use a range of financial key performance indicators to manage and monitor the performance of the group. The key performance indicators for the year ended 31 March 2025 are considered to be the following:

1. Revenue growth: 41% (2024: -48%)

2. Gross profit margin%: 20.2% (2024: 26.5%)

3. EBITDA %: 10.8% (2024: -1.1%)

4. Cash and cash equivalents as at 31 March 2025 were £12.4m (31 March 2024: £17.2m)

5. Shareholders’ funds movement (after dividends): 19% (2024: -9%)

The primary financial performance indicator for the group is that the programmes are produced in line with the agreed budgets.

Principal risks and uncertainties

The group’s strategy is subject to a number of risks and challenges, the key risks affecting the group are as set out below:

Financial risk

The group’s financial risk management objectives consist of identifying and monitoring those risks which have an adverse impact on the value of the group's financial assets and liabilities or on reported profitability and on the cash flows of the group.

Financial risk arising from the group’s operation is usually in terms of liquidity risk and foreign exchange risk. The group is debt free at the balance sheet date and group cashflows are closely monitored, liquidity is not considered a risk.

The group is exposed to movements in foreign currency exchange rates through its operations where transactional currencies differ from its functional currency. Where financially appropriate the group will use derivative financial instruments to manage exposure to adverse foreign exchange movements.

NUTOPIA LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 2 -
Principal risks and uncertainties

The measures used by the directors to manage risk continue to be the preparation of budgets, regular monitoring of actual performance against budget, monthly preparation of cash flow forecasts, and ensuring adequate financing facilities are in place to meet the requirements of the business. In this way the group ensures that sufficient funds are available for day-to-day operations.

Market risk

The group operates within an increasingly competitive market for premium content, within a dynamic television landscape, one that is constantly changing due to competition for subscribers between SVODs and the altered economics of traditional cable and linear networks. The group manages these risks by creating and producing high quality programming for its existing client base whilst working to secure new clients and adapting to produce content for different or new media.

Future outlook and strategy

The current forecast for the group reflects a more challenging market as a result of broadcaster uncertainties around their streaming subscription levels, plus takeovers and mergers within the industry, both of which negatively impact commissioning levels. This has resulted in longer lead times in the commission process, programme strategies changing more rapidly than usual, and a downward pressure on budgets. The group will continue to review the market trend and develop content to meet the needs of the broadcasters and other content media platforms.

Notwithstanding, the Group has a strong reputation in its markets, and good relationships with A-list on-screen talent, therefore the group’s future strategy is to continue to produce premium content for its existing customers whilst also expanding the client base and broadening its rang of programming.

In addition, the Company will continue to make substantial financial investment in project development and to further strengthen our strong development team whilst securing new commissions from a wider pool of broadcasters and with a broader programming range.

On behalf of the board

C. Griffin
Director
11 September 2025
NUTOPIA LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2025
- 3 -

The directors present their annual report and financial statements for the year ended 31 March 2025.

Principal activities

The principal activity of the company continued to be that of Film and Television production.

Results and dividends

The results for the year are set out on page 8.

Ordinary dividends were paid amounting to £1,510,000. The directors do not recommend payment of a further dividend.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

J. Root
C. Griffin
Auditor

The auditor, Fisher Phillips, are deemed to be reappointed under section 487(2) of the Companies Act 2006.

Statement of directors' responsibilities

The directors are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the group and company, and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;

- make judgements and accounting estimates that are reasonable and prudent;

- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the group and company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the group’s and company’s transactions and disclose with reasonable accuracy at any time the financial position of the group and company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the group and company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the auditor of the company is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the auditor of the company is aware of that information.

NUTOPIA LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 4 -
On behalf of the board
C. Griffin
Director
11 September 2025
NUTOPIA LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF NUTOPIA LIMITED
- 5 -
Opinion

We have audited the financial statements of Nutopia Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 March 2025 which comprise the group statement of comprehensive income, the group balance sheet, the company balance sheet, the group statement of changes in equity, the company statement of changes in equity, the group statement of cash flows, the company statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

- give a true and fair view of the state of the group's and the parent company's affairs as at 31 March 2025 and of the group's profit for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and parent company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

- the information given in the strategic report and the directors' r eport for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- the strategic report and the directors' report have been prepared in accordance with applicable legal requirements.

NUTOPIA LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF NUTOPIA LIMITED
- 6 -
Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent company and their environment obtained in the course of the audit, we have not identifie d material misstatements in the strategic report or the directors' r eport.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

- the parent company financial statements are not in agreement with the accounting records and returns; or

- certain disclosures of directors' remuneration specified by law are not made; or

- we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the directors' r esponsibilities s tatement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the parent company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Auditor's responsibilities for identifying irregularities

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

Based on our understanding of the company and its industry, we identified the principal risks of non-compliance with laws and regulations related to company law applicable in England and Wales, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006, tax legislation regarding payroll, VAT and corporation tax.

We evaluated the management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk to override controls), and performed the following audit procedures:

- Enquiry with senior management and those charged with governance about known or suspected instances of non-compliance with laws and regulations and fraud.

- Reviewing correspondence and minutes of relevant meetings of those charged with governance.

- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations.

- Auditing the risk of management override of controls, including through testing journal entries and other adjustments for appropriateness, and evaluating the business rationale of significant transactions outside the normal course of business.

NUTOPIA LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF NUTOPIA LIMITED
- 7 -

There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances on non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatements due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Steven Frost BFP FCA (Senior Statutory Auditor)
for and on behalf of Fisher Phillips
11 September 2025
Chartered Accountants
Statutory Auditor
NUTOPIA LIMITED
GROUP STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MARCH 2025
- 8 -
2025
2024
Notes
£
£
Turnover
3
28,639,368
20,288,922
Cost of sales
(22,845,724)
(14,910,748)
Gross profit
5,793,644
5,378,174
Administrative expenses
(5,721,939)
(5,796,544)
Other operating income
3,027,438
95,674
Operating profit/(loss)
4
3,099,143
(322,696)
Interest receivable and similar income
8
585,189
704,142
Profit before taxation
3,684,332
381,446
Tax on profit
9
(212,455)
(93,031)
Profit for the financial year
20
3,471,877
288,415
Profit for the financial year is all attributable to the owners of the parent company.
Total comprehensive income for the year is all attributable to the owners of the parent company.
NUTOPIA LIMITED
GROUP BALANCE SHEET
AS AT
31 MARCH 2025
31 March 2025
- 9 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
11
342,698
98,068
Investments
12
100
-
0
342,798
98,068
Current assets
Debtors
15
11,561,240
5,089,746
Cash at bank and in hand
12,417,469
17,226,641
23,978,709
22,316,387
Creditors: amounts falling due within one year
16
(11,831,969)
(11,886,794)
Net current assets
12,146,740
10,429,593
Net assets
12,489,538
10,527,661
Capital and reserves
Called up share capital
18
100
100
Share premium account
19
19,075
19,075
Profit and loss reserves
20
12,470,363
10,508,486
Total equity
12,489,538
10,527,661

These financial statements have been prepared in accordance with the provisions relating to medium-sized groups.

The financial statements were approved by the board of directors and authorised for issue on 11 September 2025 and are signed on its behalf by:
11 September 2025
C. Griffin
Director
Company registration number 03371279 (England and Wales)
NUTOPIA LIMITED
COMPANY BALANCE SHEET
AS AT 31 MARCH 2025
31 March 2025
- 10 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
11
140,191
98,068
Investments
12
500
200
140,691
98,268
Current assets
Debtors
15
8,594,182
4,707,763
Cash at bank and in hand
11,991,889
16,395,212
20,586,071
21,102,975
Creditors: amounts falling due within one year
16
(8,623,449)
(10,675,803)
Net current assets
11,962,622
10,427,172
Net assets
12,103,313
10,525,440
Capital and reserves
Called up share capital
18
100
100
Share premium account
19
19,075
19,075
Profit and loss reserves
20
12,084,138
10,506,265
Total equity
12,103,313
10,525,440

As permitted by s408 Companies Act 2006, the c ompany has not presented its own profit and loss account and related notes. The c ompany’s profit for the year was £3,087,873 (2024 - £288,616 profit).

These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.

The financial statements were approved by the board of directors and authorised for issue on 11 September 2025 and are signed on its behalf by:
11 September 2025
C. Griffin
Director
Company registration number 03371279 (England and Wales)
NUTOPIA LIMITED
GROUP STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2025
- 11 -
Share capital
Share premium account
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 April 2023
100
19,075
11,490,071
11,509,246
Year ended 31 March 2024:
Profit and total comprehensive income
-
-
288,415
288,415
Dividends
10
-
-
(1,270,000)
(1,270,000)
Balance at 31 March 2024
100
19,075
10,508,486
10,527,661
Year ended 31 March 2025:
Profit and total comprehensive income
-
-
3,471,877
3,471,877
Dividends
10
-
-
(1,510,000)
(1,510,000)
Balance at 31 March 2025
100
19,075
12,470,363
12,489,538
NUTOPIA LIMITED
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2025
- 12 -
Share capital
Share premium account
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 April 2023
100
19,075
11,487,649
11,506,824
Year ended 31 March 2024:
Profit and total comprehensive income for the year
-
-
288,616
288,616
Dividends
10
-
-
(1,270,000)
(1,270,000)
Balance at 31 March 2024
100
19,075
10,506,265
10,525,440
Year ended 31 March 2025:
Profit and total comprehensive income
-
-
3,087,873
3,087,873
Dividends
10
-
-
(1,510,000)
(1,510,000)
Balance at 31 March 2025
100
19,075
12,084,138
12,103,313
NUTOPIA LIMITED
GROUP STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2025
- 13 -
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash (absorbed by)/generated from operations
25
(3,476,535)
1,697,577
Income taxes (paid)/refunded
(69,165)
10,887
Net cash (outflow)/inflow from operating activities
(3,545,700)
1,708,464
Investing activities
Purchase of tangible fixed assets
(513,637)
(31,035)
Proceeds on disposal of tangible fixed assets
175,076
-
Investment in subsidiaries
(100)
-
Interest received
585,189
704,142
Net cash generated from investing activities
246,528
673,107
Financing activities
Dividends paid to equity shareholders
(1,510,000)
(1,270,000)
Net cash used in financing activities
(1,510,000)
(1,270,000)
Net (decrease)/increase in cash and cash equivalents
(4,809,172)
1,111,571
Cash and cash equivalents at beginning of year
17,226,641
16,115,070
Cash and cash equivalents at end of year
12,417,469
17,226,641
NUTOPIA LIMITED
COMPANY STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2025
- 14 -
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash (absorbed by)/generated from operations
26
(3,330,640)
883,098
Income taxes (paid)/refunded
(69,165)
10,887
Net cash (outflow)/inflow from operating activities
(3,399,805)
893,985
Investing activities
Purchase of tangible fixed assets
(252,332)
(31,035)
Proceeds on disposal of tangible fixed assets
174,496
-
0
Investment in subsidiaries
(300)
-
0
Interest received
584,618
703,829
Net cash generated from investing activities
506,482
672,794
Financing activities
Dividends paid to equity shareholders
(1,510,000)
(1,270,000)
Net cash used in financing activities
(1,510,000)
(1,270,000)
Net (decrease)/increase in cash and cash equivalents
(4,403,323)
296,779
Cash and cash equivalents at beginning of year
16,395,212
16,098,433
Cash and cash equivalents at end of year
11,991,889
16,395,212
NUTOPIA LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 15 -
1
Accounting policies
Company information

Nutopia Limited (“the company”) is a private limited company domiciled and incorporated in England and Wales. The registered office is Summit House, 170 Finchley Road, London, NW3 6BP .

The place of business is 1st Floor, Kirkman House, 12/14 Whitfield Street. London. W1T 2RF.

The group consists of Nutopia Limited, Stratos Media Limited, DBX Media Limited, Fitzmedia Limited, and Prodigious Media Limited.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Business combinations

In the parent company financial statements, t he cost of a business combination is the fair value at the acquisition date of the assets given, equity instruments issued and liabilities incurred or assumed, plus costs directly attributable to the business combination. The excess of the cost of a business combination over the fair value of the identifiable assets, liabilities and contingent liabilities acquired is recognised as goodwill. The cost of the combination includes the estimated amount of contingent consideration that is probable and can be measured reliably, and is adjusted for changes in contingent consideration after the acquisition date. Provisional fair values recognised for business combinations in previous periods are adjusted retrospectively for final fair values determined in the 12 months following the acquisition date. I nvestments in subsidiaries, joint ventures and associates are accounted for at cost less impairment.

Deferred tax is recognised on differences between the value of assets (other than goodwill) and liabilities recognised in a business combination accounted for using the purchase method and the amounts that can be deducted or assessed for tax, considering the manner in which the carrying amount of the asset or liability is expected to be recovered or settled. The deferred tax recognised is adjusted against goodwill or negative goodwill.

1.3
Basis of consolidation

The consolidated group financial statements consist of the financial statements of the parent company Nutopia Limited together with all entities controlled by the parent company (its subsidiaries) and the group’s share of its interests in joint ventures and associates.

All financial statements are made up to 31 March 2025. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the g roup.

All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.

Entities in which the group holds an interest and which are jointly controlled by the group and one or more other venturers under a contractual arrangement are treated as joint ventures. Entities other than subsidiary undertakings or joint ventures, in which the group has a participating interest and over whose operating and financial policies the group exercises a significant influence, are treated as associates.

NUTOPIA LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 16 -

Investments in joint ventures and associates are carried in the group balance sheet at cost plus post-acquisition changes in the group’s share of the net assets of the entity, less any impairment in value. The carrying values of investments in joint ventures and associates include acquired goodwill.

If the group’s share of losses in a joint venture or associate equals or exceeds its investment in the joint venture or associate, the group does not recognise further losses unless it has incurred obligations to do so or has made payments on behalf of the joint venture or associate.

Unrealised gains arising from transactions with joint ventures and associates are eliminated to the extent of the group’s interest in the entity.

1.4
Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.5
Turnover

Turnover represents amounts receivable for both short-term and long-term projects net of VAT. The turnover is recognised based on the rate of completion of the projects at the year end date. The rate of completion is calculated on a months basis using as a primary source the length of the project as stipulated in the contract. However if subsequent information at the year end indicates that the project is running over its initial expected length, it is this updated information that is used to calculate the rate of completion at the year end.

1.6
Research and development expenditure

Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

1.7
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
20% straight line
Fixtures, fittings and equipments
20% straight line
Computers equipments
33.33% straight line/20% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account.

1.8
Fixed asset investments

Equity in vest ments are measured at fair value through profit or loss, except for those equity investments that are not publicly traded and whose fair value cannot otherwise be measured reliably, which are recognised at cost less impairment until a reliable measure of fair value becomes available.

I n the parent company financial statements, investments in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.

A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

NUTOPIA LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 17 -

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The group considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Investments in associates are initially recognised at the transaction price (including transaction costs) and are subsequently adjusted to reflect the g roup’s share of the profit or loss, other comprehensive income and equity of the associate using the equity method. Any difference between the cost of acquisition and the share of the fair value of the net identifiable assets of the associate on acquisition is recognised as goodwill. Any unamortised balance of goodwill is included in the carrying value of the investment in associates.

Losses in excess of the carrying amount of an investment in an associate are recorded as a provision only when the company has incurred legal or constructive obligations or has made payments on behalf of the associate.

In the parent c ompany financial statements, investments in associates are accounted for at cost less impairment.

Entities in which the group has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.9
Impairment of fixed assets

At each reporting period end date, the group reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

The carrying amount of the investments accounted for using the equity method is tested for impairment as a single asset. Any goodwill included in the carrying amount of the investment is not tested separately for impairment.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.10
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

NUTOPIA LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 18 -
1.11
Financial instruments

The group 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 in the group's balance sheet when the group 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 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 m ethod unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

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 group 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 group after deducting all of its liabilities.

NUTOPIA LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 19 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group 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 paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value th r ough profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities

Financial liabilities are derecognised when the group's contractual obligations expire or are discharged or cancelled.

1.12
Equity instruments

Equity instruments issued by the group are recorded at the 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 group.

1.13
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The group’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

NUTOPIA LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 20 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset if, and only if, there is a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.14
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.15
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.16
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease d asset are consumed.

1.17
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

NUTOPIA LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 21 -
2
Judgements and key sources of estimation uncertainty

Preparation of the financial statement requires management to make significant judgements and estimates. The items in the financial statements where these judgements and estimates have been made include:

Useful economic lives of tangible assets

The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended where necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets.

Work in progress (WIP)

The WIP provided in the accounts for the projects outstanding at year-end was calculated by reference to the completed stage of the projects. The rate of completion is calculated on a months basis, using the length of the project as stipulated in the contract as a primary source. The costs to complete the projects were estimated based on the past knowledge and experience of the production managers.

3
Turnover and other revenue
2025
2024
£
£
Turnover analysed by class of business
Production income
27,325,698
19,739,648
Other income
1,313,670
549,274
28,639,368
20,288,922
2025
2024
£
£
Other significant income
Interest income
585,189
704,142
Other operating income
3,027,438
95,674
2025
2024
£
£
Turnover analysed by geographical market
United Kingdom
3,035,825
398,529
International
25,603,543
19,890,393
28,639,368
20,288,922

Included within Other operating income is a Creative Film Tax Credit after a successful application was made to the Department For Digital, Culture, Media and Sport for the production of High-end Television Programmes.

NUTOPIA LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 22 -
4
Operating profit/(loss)
2025
2024
£
£
Operating profit/(loss) for the year is stated after charging/(crediting):
Exchange losses
1,624
-
0
Research and development costs
1,607,053
1,936,783
Depreciation of owned tangible fixed assets
100,811
103,756
Profit on disposal of tangible fixed assets
(6,880)
-
Operating lease charges
465,811
389,207
5
Auditor's remuneration
2025
2024
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the group and company
29,000
28,000
6
Employees

The average monthly number of persons (including directors) employed by the group and company during the year was:

Group
Company
2025
2024
2025
2024
Number
Number
Number
Number
Production
46
38
19
33
Administration
19
22
19
22
Development
14
17
14
17
Total
79
77
52
72

Their aggregate remuneration comprised:

Group
Company
2025
2024
2025
2024
£
£
£
£
Wages and salaries
5,855,952
6,289,394
5,617,196
6,289,394
Social security costs
696,331
700,692
669,345
700,692
Pension costs
135,310
170,588
128,937
170,588
6,687,593
7,160,674
6,145,478
7,160,674
NUTOPIA LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 23 -
7
Directors' remuneration
2025
2024
£
£
Remuneration for qualifying services
505,798
507,409
Company pension contributions to defined contribution schemes
37,521
38,303
543,319
545,712

The number of directors for whom retirement benefits are accruing under defined contribution schemes amounted to 1 (2024 - 1).

Remuneration disclosed above includes the following amounts paid to the highest paid director:
2025
2024
£
£
Remuneration for qualifying services
278,887
268,337
8
Interest receivable and similar income
2025
2024
£
£
Interest income
Interest on bank deposits
585,189
704,142
2025
2024
Investment income includes the following:
£
£
Interest on financial assets not measured at fair value through profit or loss
585,189
704,142
9
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
212,455
90,382
Adjustments in respect of prior periods
-
0
2,649
Total current tax
212,455
93,031
NUTOPIA LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
9
Taxation
(Continued)
- 24 -

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2025
2024
£
£
Profit before taxation
3,684,332
381,446
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
921,083
95,362
Tax effect of expenses that are not deductible in determining taxable profit
6,277
1,554
Tax effect of income not taxable in determining taxable profit
(683,633)
(24,669)
Gains not taxable
(1,721)
-
0
Unutilised tax losses carried forward
340
50
Adjustments in respect of prior years
-
0
2,648
Permanent capital allowances in excess of depreciation
(55,094)
(7,853)
Depreciation on assets not qualifying for tax allowances
25,203
25,939
Taxation charge
212,455
93,031
10
Dividends
2025
2024
Recognised as distributions to equity holders:
£
£
Interim paid
1,510,000
1,270,000
NUTOPIA LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 25 -
11
Tangible fixed assets
Group
Leasehold improvements
Fixtures, fittings and equipments
Computers equipments
Total
£
£
£
£
Cost
At 1 April 2024
54,325
106,325
1,108,657
1,269,307
Additions
160,368
3,386
349,883
513,637
Disposals
-
0
-
0
(28,705)
(28,705)
Transfers
-
0
-
0
(490,679)
(490,679)
At 31 March 2025
214,693
109,711
939,156
1,263,560
Depreciation and impairment
At 1 April 2024
54,325
105,270
1,011,644
1,171,239
Depreciation charged in the year
15,039
887
84,885
100,811
Eliminated in respect of disposals
-
0
-
0
(28,705)
(28,705)
Transfers
-
0
-
0
(322,483)
(322,483)
At 31 March 2025
69,364
106,157
745,341
920,862
Carrying amount
At 31 March 2025
145,329
3,554
193,815
342,698
At 31 March 2024
-
0
1,055
97,013
98,068
Company
Leasehold improvements
Fixtures, fittings and equipments
Computers equipments
Total
£
£
£
£
Cost
At 1 April 2024
54,325
106,325
1,108,657
1,269,307
Additions
112,529
1,219
138,584
252,332
Disposals
-
0
-
0
(27,500)
(27,500)
Transfers
-
0
-
0
(490,679)
(490,679)
At 31 March 2025
166,854
107,544
729,062
1,003,460
Depreciation and impairment
At 1 April 2024
54,325
105,270
1,011,644
1,171,239
Depreciation charged in the year
11,250
670
30,093
42,013
Eliminated in respect of disposals
-
0
-
0
(27,500)
(27,500)
Transfers
-
0
-
0
(322,483)
(322,483)
At 31 March 2025
65,575
105,940
691,754
863,269
Carrying amount
At 31 March 2025
101,279
1,604
37,308
140,191
At 31 March 2024
-
0
1,055
97,013
98,068
NUTOPIA LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 26 -
12
Fixed asset investments
Group
Company
2025
2024
2025
2024
Notes
£
£
£
£
Investments in subsidiaries
13
100
-
0
500
200
Movements in fixed asset investments
Group
Shares in subsidiaries
£
Cost or valuation
At 1 April 2024
-
Additions
100
At 31 March 2025
100
Carrying amount
At 31 March 2025
100
At 31 March 2024
-
Movements in fixed asset investments
Company
Shares in subsidiaries
£
Cost or valuation
At 1 April 2024
200
Additions
300
At 31 March 2025
500
Carrying amount
At 31 March 2025
500
At 31 March 2024
200
13
Subsidiaries

Details of the company's subsidiaries at 31 March 2025 are as follows:

NUTOPIA LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
13
Subsidiaries
(Continued)
- 27 -
Name of undertaking
Registered office
Nature of business
Class of
% Held
shares held
Direct
Stratos Media Limited
England and Wales
Film and Television Production
Ordinary
100.00
Prodigious Media Limited
England and Wales
Film and Television Production
Ordinary
100.00
DBX Media Limited
England and Wales
Film and Television Production
Ordinary
100.00
Fitzmedia Limited
England and Wales
Film and Television Production
Ordinary
100.00
Go2Media Limited
England and Wales
Dormant
Ordinary
100.00
The aggregate capital and reserves and the result for the year of the subsidiaries noted above was as follows:
Name of undertaking
Capital and Reserves
Profit/(Loss)
£
£
Stratos Media Limited
4,980
(129)
0
Prodigious Media Limited
(3,918)
0
(1,230)
0
DBX Media Limited
(278)
0
(378)
0
Fitzmedia Limited
385,841
385,741

The registered office address of all subsidiaries: Summit House, 170 Finchley Road, London. NW3 6BP.

14
Financial instruments
Group
Company
2025
2024
2025
2024
£
£
£
£
Carrying amount of financial assets
Debt instruments measured at amortised cost
10,936,967
4,604,648
8,187,417
4,278,116
Carrying amount of financial liabilities
Measured at amortised cost
11,455,015
11,598,929
8,271,544
10,387,938
NUTOPIA LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 28 -
15
Debtors
Group
Company
2025
2024
2025
2024
Amounts falling due within one year:
£
£
£
£
Trade debtors
1,723,778
1,344,365
2,473,710
1,591,655
Corporation tax recoverable
-
0
21,217
-
0
21,217
Amounts owed by group undertakings
500
-
22,495
155,656
Other debtors
9,468,271
3,451,233
5,747,680
2,666,304
Prepayments and accrued income
368,691
272,931
350,297
272,931
11,561,240
5,089,746
8,594,182
4,707,763

16
Creditors: amounts falling due within one year
Group
Company
2025
2024
2025
2024
£
£
£
£
Trade creditors
811,391
335,334
336,031
335,959
Corporation tax payable
212,455
90,382
187,406
90,382
Other taxation and social security
164,499
197,483
164,499
197,483
Other creditors
2,628,581
2,215,704
2,559,979
2,180,669
Accruals and deferred income
8,015,043
9,047,891
5,375,534
7,871,310
11,831,969
11,886,794
8,623,449
10,675,803
17
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
104,293
102,969

A defined contribution pension scheme is operated for all qualifying employees. The assets of the scheme are held separately from those of the group in an independently administered fund.

18
Share capital
Group and company
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of 1p each
10,000
10,000
100
100
NUTOPIA LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 29 -
19
Share premium account
Group
Company
2025
2024
2025
2024
£
£
£
£
At the beginning and end of the year
19,075
19,075
19,075
19,075
20
Profit and loss reserves
Group
Company
2025
2024
2025
2024
£
£
£
£
At the beginning of the year
10,508,486
11,490,071
10,506,265
11,487,649
Profit for the year
3,471,877
288,415
3,087,873
288,616
Dividends
(1,510,000)
(1,270,000)
(1,510,000)
(1,270,000)
At the end of the year
12,470,363
10,508,486
12,084,138
10,506,265
21
Operating lease commitments
Lessee

Operating lease payments represent rentals payable by the company for its rented offices. Leases are negotiated for an average term of 5 years.

At the reporting end date the group had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

Group
Company
2025
2024
2025
2024
£
£
£
£
Within one year
247,744
247,744
247,744
247,744
Between two and five years
754,771
991,655
754,771
991,655
1,002,515
1,239,399
1,002,515
1,239,399
NUTOPIA LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 30 -
22
Related party transactions

Other creditors included an amount owed to J. Root of £98,499, which represents expenses reimbursed to her at the year-end.

The company has taken advantage of the exemption contained in FRS 102.33 and has not disclosed transactions or balances with wholly owned subsidiaries which form part of the group.

23
Directors' transactions

Dividends totalling £1,510,000 (2024 - £1,270,000) were paid in the year in respect of shares held by the company's directors.

24
Controlling party

The company is controlled by Jane Root, who is both a director and a majority shareholder of the company.

25
Cash generated from group operations
2025
2024
£
£
Profit for the year after tax
3,471,877
288,415
Adjustments for:
Taxation charged
212,455
93,031
Investment income
(585,189)
(704,142)
Gain on disposal of tangible fixed assets
(6,880)
-
Depreciation and impairment of tangible fixed assets
100,811
103,755
Movements in working capital:
(Increase)/decrease in debtors
(6,492,711)
9,382,535
(Decrease) in creditors
(176,898)
(7,466,017)
Cash (absorbed by)/generated from operations
(3,476,535)
1,697,577
NUTOPIA LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 31 -
26
Cash generated from operations - company
2025
2024
£
£
Profit for the year after tax
3,087,873
288,616
Adjustments for:
Taxation charged
187,406
93,031
Investment income
(584,618)
(703,829)
Gain on disposal of tangible fixed assets
(6,300)
-
Depreciation and impairment of tangible fixed assets
42,013
103,755
Movements in working capital:
(Increase)/decrease in debtors
(3,907,636)
9,469,171
(Decrease) in creditors
(2,149,378)
(8,367,646)
Cash (absorbed by)/generated from operations
(3,330,640)
883,098
27
Analysis of changes in net funds - group
1 April 2024
Cash flows
31 March 2025
£
£
£
Cash at bank and in hand
17,226,641
(4,809,172)
12,417,469
28
Analysis of changes in net funds - company
1 April 2024
Cash flows
31 March 2025
£
£
£
Cash at bank and in hand
16,395,212
(4,403,323)
11,991,889
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