Company No: OC300721 (England and Wales)

Contents

• Statement of Financial Position
• Reconciliation of Members' Interests
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	4	14,188		12,946
		14,188		12,946
Current assets
Debtors	5	5,914		1,090
Cash at bank and in hand	6	902		7,720
		6,816		8,810
Creditors: amounts falling due within one year	7	( 2,546)		( 9,163)
Net current assets/(liabilities)		4,270		(353)
Total assets less current liabilities		18,458		12,593
Net assets attributable to members		18,458		12,593
Represented by
Loans and other debts due to members within one year
Members' capital classified as a liability		22,426		22,426
		22,426		22,426
Members' other interests
Other reserves		(3,968)		(9,833)
		(3,968)		(9,833)
		18,458		12,593
Total members' interests
Loans and other debts due to members		22,426		22,426
Members' other interests		(3,968)		(9,833)
		18,458		12,593

For the financial year ending 31 March 2025 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.

Members' responsibilities:

• The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of ZigZag Films LLP (registered number: OC300721) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

R Day Designated member

03 December 2025

	EQUITY Members' other interests	DEBT Loans and other debts due to members less any amounts due from members in debtors	Total members' interests
	Other reserves	Members' capital (classified as debt)	Total
	£	£	£
Amounts due to members		22,426
Balance at 01 April 2023	(366)	22,426	22,060
Loss for the financial year available for discretionary division among members	(9,467)	0	(9,467)
Members' interest after loss for the financial year	(9,833)	22,426	12,593
Amounts due to members		22,426
Balance at 31 March 2024	(9,833)	22,426	12,593
Profit for the financial year available for discretionary division among members	5,865	0	5,865
Members' interest after profit for the financial year	(3,968)	22,426	18,458
Amounts due to members		22,426
Balance at 31 March 2025	(3,968)	22,426	18,458

There are no existing restrictions or limitations which impact the ability of the members of the LLP to reduce the amount of Members' other interests

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

ZigZag Films LLP is a limited liability partnership, incorporated in the United Kingdom under the Limited Liability Partnerships Act 2000 and is registered in England and Wales. The address of the LLP's registered office is Links Barn Ellerton Road, Hinstock, Market Drayton, TF9 2NJ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Limited Liability Partnerships Act 2000 as applicable to companies subject to the small companies regime and the requirements of the Statement of Recommended Practice Accounting by Limited Liability Partnerships issued in December 2021 (SORP 2022).

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc.

25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

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 creditors: amounts falling due within one year.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to and from related parties and investments in non-puttable ordinary shares.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, 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.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. 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 the Statement of Income and Retained Earnings/Statement of Comprehensive Income.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, 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 receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

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.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the LLP during the year	2		2

3. Members' remuneration

Profits are shared among the members in accordance with agreed profit sharing arrangements. Members are required to make their own provision for pensions from their profit shares.

	2025		2024
	Number		Number
Average number of members during the financial year	2		2

4. Tangible assets

	Plant and machinery etc.		Total
	£		£
Cost
At 01 April 2024	51,607		51,607
Additions	4,603		4,603
At 31 March 2025	56,210		56,210
Accumulated depreciation
At 01 April 2024	38,661		38,661
Charge for the financial year	3,361		3,361
At 31 March 2025	42,022		42,022
Net book value
At 31 March 2025	14,188		14,188
At 31 March 2024	12,946		12,946

5. Debtors

	2025		2024
	£		£
Trade debtors	5,914		1,090

6. Cash and cash equivalents

	2025		2024
	£		£
Cash at bank and in hand	902		7,720

7. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	0		4,811
Other taxation and social security	406		2,352
Other creditors	2,140		2,000
	2,546		9,163