Company registration number 02370231 (England and Wales)
WATERFALL PRODUCTIONS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD 1 JANUARY 2024 TO 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
WATERFALL PRODUCTIONS LTD
CONTENTS
Page
Balance sheet
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 7
WATERFALL PRODUCTIONS LTD
BALANCE SHEET
AS AT 31 MARCH 2025
31 March 2025
- 1 -
31 March 2025
31 December 2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
23,491
1,111
Investments
4
13,263
13,263
36,754
14,374
Current assets
Debtors
5
113,770
23,224
Cash at bank and in hand
91,524
164,959
205,294
188,183
Creditors: amounts falling due within one year
6
(81,072)
(61,844)
Net current assets
124,222
126,339
Total assets less current liabilities
160,976
140,713
Provisions for liabilities
-
0
(278)
Net assets
160,976
140,435
Capital and reserves
Called up share capital
200
200
Share premium account
133,134
133,134
Profit and loss reserves
27,642
7,101
Total equity
160,976
140,435
WATERFALL PRODUCTIONS LTD
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2025
31 March 2025
- 2 -

For the financial Period ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he member has not required the company to obtain an audit of its financial statements for the Period in question in accordance with section 476.

The director acknowledges his 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 have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 18 November 2025 and are signed on its behalf by:
Mr J M Cleese
Director
Company registration number 02370231 (England and Wales)
WATERFALL PRODUCTIONS LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 MARCH 2025
- 3 -
Share capital
Share premium account
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 January 2023
200
133,134
49,161
182,495
Year ended 31 December 2023:
Profit and total comprehensive income
-
-
131,440
131,440
Dividends
-
-
(173,500)
(173,500)
Balance at 31 December 2023
200
133,134
7,101
140,435
Period ended 31 March 2025:
Profit and total comprehensive income
-
-
20,541
20,541
Balance at 31 March 2025
200
133,134
27,642
160,976
WATERFALL PRODUCTIONS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2025
- 4 -
1
Accounting policies
Company information

Waterfall Productions Ltd is a private company limited by shares incorporated in England and Wales. The registered office is First Floor, 14-15 Berners Street, London, W1T 3LJ.

1.1
Reporting period

These financial statements are presented for a period of 15 months from 1st January 2024 to the 31st March 2025. C omparative amounts presented in the financial statements (including the related notes) are not entirely comparable.

1.2
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 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.3
Turnover

Turnover represents amounts received in respect of television production services net of VAT.

1.4
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:

Fixtures and fittings
33% 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 credited or charged to profit or loss.

1.5
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

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

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 company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

WATERFALL PRODUCTIONS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 5 -

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

1.6
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.

1.7
Financial instruments

The company only has basic financial instruments.

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 method.

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.

1.8
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 company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

1.9
Retirement benefits

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

2
Employees

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

2025
2023
Number
Number
Total
2
2
WATERFALL PRODUCTIONS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2025
- 6 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2024
1,996
Additions
32,783
At 31 March 2025
34,779
Depreciation and impairment
At 1 January 2024
885
Depreciation charged in the Period
10,403
At 31 March 2025
11,288
Carrying amount
At 31 March 2025
23,491
At 31 December 2023
1,111
4
Fixed asset investments
2025
2023
£
£
Shares in group undertakings and participating interests
13,263
13,263
5
Debtors
2025
2023
Amounts falling due within one year:
£
£
Trade debtors
60,648
4,317
Other debtors
53,122
18,907
113,770
23,224
6
Creditors: amounts falling due within one year
2025
2023
£
£
Trade creditors
62,414
2,500
Amounts owed to group undertakings
100
100
Corporation tax
1,191
33,133
Other taxation and social security
5,955
22,085
Other creditors
11,412
4,026
81,072
61,844
WATERFALL PRODUCTIONS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2025
- 7 -
7
Operating lease commitments
As lessee

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

2025
2023
£
£
Total commitments
61,292
75,688
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