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Registered number: 10368124 KEF PRODUCTIONS LIMITED UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
KEF PRODUCTIONS LIMITED REGISTERED NUMBER:10368124
STATEMENT OF FINANCIAL POSITION AS AT 31 MARCH 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Investments | 4 |  | 3,249,406 |  | 3,325,933
|  |  | 3,249,406 |  | 3,325,933
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 5 | 397 |  | 397 |
Cash at bank and in hand | 6 | 16,567 |  | 1,855 |
Current liabilities |  | 16,964 |  | 2,252 |
Creditors: amounts falling due within one year | 7 | (38,464) |  | (301,248) |
Net current liabilities |  |  | (21,500) |  | (298,996)
Total assets less current liabilities |  |  | 3,227,906 |  | 3,026,937
Net assets |  |  | 3,227,906 |  | 3,026,937
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 2 |  | 2
Share premium account |  |  | 419 |  | 419
Profit and loss account |  |  | 3,227,485 |  | 3,026,516
|  |  | 3,227,906 |  | 3,026,937
The Director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. 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. The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The 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 comprehensive income 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 on 27 November 2025. Page 1
KEF PRODUCTIONS LIMITED REGISTERED NUMBER:10368124
STATEMENT OF FINANCIAL POSITION (CONTINUED) AS AT 31 MARCH 2025
P Cohen
Director
The notes on pages 3 to 6 form part of these financial statements. Page 2
KEF PRODUCTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
1. | General information
KEF Productions Limited is a Company limited by shares, and was incorporated in England and Wales, with its registered office at 21 Carlyle Mansions, Cheyne Walk, London, United Kingdom, SW3 5LS. The principal activity of the company in the period under review was that of investment in art, unlisted companies and managed funds. 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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:
| 2.2 | Foreign currency translation
Functional and presentation currency The Company's functional and presentational currency is £ Sterling. 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. Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.
| 2.3 | Interest income
Interest income is recognised in profit or loss using the effective interest method.
| 2.4 | 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. Page 3
KEF PRODUCTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.5 | Taxation
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.
| 2.6 | Impairment of fixed assets and goodwill
Assets that are subject to depreciation or amortisation are assessed at each reporting date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash-generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (CGUs). Non-financial assets that have been previously impaired are reviewed at each reporting date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.
| 2.7 | Valuation of investments
Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment. Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.
| 2.8 | Associates and joint ventures
Associates and Joint Ventures are held at cost less impairment.
| 2.9 | Basic financial instruments
The Company only enters into transactions that result in basic financial instruments such as trade and other debtors, trade and other creditors, cash at bank and in hand, loans to/from related parties. Trade debtors, other debtors and loans to related parties are recognised initially at the transaction price less attributable transaction costs. Trade creditors, other creditors and loans from related parties are recognised initially at transaction price plus attributable transaction costs. Subsequently they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade and other debtors, and loans to related parties. Cash and cash equivalents comprise cash balances and call deposits. Bank overdrafts that are repayable on demand and form an integral part of the Company's cash management. Page 4
KEF PRODUCTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
3. | Employees
| The average monthly number of employees, including directors, during the year was 1 (2024 - 1).
4. | Fixed asset investments
|  | Listed investments | Unlisted investments | Other fixed asset investments | Investment in joint ventures | Total
|  | £ | £ | £ | £ | £
| Cost or valuation |  |  |  |  |
| At 1 April 2024 | 1,896,041 | 128,753 | 1,301,138 | - | 3,325,932
| Additions | 213,387 | - | 364,189 | 113,457 | 691,033
| Disposals | (606,690) | - | (335,952) | - | (942,642)
| Revaluations | 197,026 | - | - | - | 197,026
| Amounts written off | - | (21,943) | - | - | (21,943)
| At 31 March 2025 | 1,699,764 | 106,810 | 1,329,375 | 113,457 | 3,249,406
5. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Other debtors | 397 | 397
6. | Cash and cash equivalents
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Cash at bank and in hand | 16,567 | 1,855
| Less: bank overdrafts | (28,920) | (291,772)
|  | (12,353) | (289,917)
Page 5
KEF PRODUCTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
7. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank overdrafts | 28,920 | 291,772
| Corporation tax | 1,844 | -
| Other creditors | 3,500 | 5,372
| Accruals and deferred income | 4,200 | 4,104
|  | 38,464 | 301,248
| Bank overdrafts include a facility secured by a fixed charge and negative pledge over the assets of the Company, registered on 2 March 2021.
8. | Share capital
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 2 (2024 - 2) Ordinary shares of £1.00 each | 2 | 2
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