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Registered number: 11523156
MINNOW FILMS (BILLIONAIRES) LIMITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 MARCH 2025
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MINNOW FILMS (BILLIONAIRES) LIMITED
REGISTERED NUMBER: 11523156
BALANCE SHEET
AS AT 31 MARCH 2025
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Creditors: amounts falling due within one year
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Net current (liabilities)/assets
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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 by:
The notes on pages 2 to 7 form part of these financial statements.
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MINNOW FILMS (BILLIONAIRES) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Minnow Films (Billionaires) Limited (the "Company") is a private company limited by share capital, incorporated under the UK Companies Act 2006 and is domiciled in England. The Company's registered office and principal place of business are located at 124 Finchley Road, London, NW3 5JS and 58-60 Rivington Street, London, EC2A 3AU respectively.
2.Accounting policies
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Summary of significant accounting policies
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The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all reporting periods presented, unless otherwise stated.
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Basis of preparation of financial statements
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The financial statements of the Company have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of 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 conformity with Financial Reporting Standard 102 requires the use of certain critical accounting estimates. It also requires management to exercise its judgment in the process of applying the Company's accounting policies.
Details of those estimates and/or judgments made in applying the Company's accounting policies towards the preparation of these financial statements that may be considered as yielding a significant risk of a material adjustment being made to the carrying amounts of assets and/or liabilities reported in the balance sheet during the next financial reporting period are disclosed in note 3 to the financial statements.
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Functional and presentational currency
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Items included in the financial statements of the Company are measured using the currency of the primary economic environment in which the Company operates (the "functional currency").
The functional currency of the Company, and the currency in which the financial statements are presented (the "presentational currency"), is 'Pounds Sterling' (£) rounded to the nearest single unit of currency.
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Foreign currency translation
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Foreign currencies are translated into the functional (and presentational) currency using the exchange rates prevailing at the date of the respective transaction or valuation where items are re-measured.
Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at financial period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the profit and loss account as part of total comprehensive income.
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MINNOW FILMS (BILLIONAIRES) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.Accounting policies (continued)
In preparing these financial statements the directors are of the opinion that based on current and expected operational performance as well as taking into consideration the matters documented in note 8 to the financial statements,, there is a reasonable expectation that the Company shall have adequate financial resources available at its disposal to ensure liabilities are appropriately discharged as they should fall due and continue in operational existence.
While there will always remain inherent uncertainty, the directors have no reason to believe that a material uncertainty exists that may cast significant doubt about the ability of the Company to continue as a going concern and therefore consider it both appropriate to continue to adopt the going concern basis in preparing the Company's financial statements and to not recognise any adjustments in the financial statements that would arise if the going concern basis were to become no longer appropriate.
Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities; with said financial assets and liabilities classified in accordance with the substance of the underlying contractual obligations rather than its legal form.
Financial assets and liabilities are recognised in the Company's balance sheet when the Company becomes party to the contractual provisions of the instrument. Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or the financial asset is transferred along with substantially all the risks and rewards of ownership of the asset to another party. Financial liabilities are derecognised only when the Company’s obligations are discharged, cancelled or expired.
The measurement of specific financial assets, financial liabilities, and equity held by the Company is as outlined in notes 2.8 to 2.11 below:
Debtors are initially measured at transaction price (i.e fair value) and subsequently held, at transaction price less provision for impairment of assets.
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Cash and cash equivalents
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Cash balances are reported by the Company as being financial instruments classified as short term receivables and are represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours, subject to an insignificant risk of changes in value and held at floating interest rates linked to UK bank rates.
Creditors are initially measured and subsequently held at transaction price (i.e fair value).
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MINNOW FILMS (BILLIONAIRES) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.Accounting policies (continued)
Ordinary share capital, shown in equity, is initially measured and subsequently held at its nominal value. Where the transaction price for issued shares exceeds their nominal value, the difference is shown under equity in a share premium account with any directly attributable transaction costs associated with the issuing of said shares deducted from said share premium account.
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Judgments in applying accounting policies and key sources of estimation uncertainty
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In the application of the Company's accounting policies, the directors are required to make judgments, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. Although the expected outcome of said estimates and assumptions will, by definition, seldom equal the related actual results; estimates and judgments made are continually re-evaluated and are based on historical experience as well as other factors, including expectations of future events that are believed to be reasonable under the circumstances.
In the opinion of the directors, there were no critical judgments made in the application of the accounting policies towards the preparation of these financial statements nor any estimates or assumptions that would be considered as having a significant risk of causing a material adjustment to the reported carrying amounts of assets and liabilities.
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The average monthly number of employees, including directors, during the year was 0 (2024 - 0).
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Other debtors falling due within one year are non-interest bearing and, in the opinion of the directors, of a fair value is not materially different from their carrying value.
At the balance sheet date, the provision for impairment against debtors falling due within one year was £111,821 (2024: £nil).
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MINNOW FILMS (BILLIONAIRES) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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Accruals and deferred income
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Amounts owed to group undertakings are unsecured, interest-free and repayable on demand with no fixed date of repayment.
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The Company held no financial instruments that would require specific disclosure under sections 1.12, 11 or 12 of Financial Reporting Standard 102 and paragraph 36 of Schedule 1 to the Companies Act 2006.
The legal risks arising from the Company's operational activities are typical of those faced by any production company whose content may be considered to be defamatory by the individual(s) the productions' subject matter focuses on. Consequently, in the normal course of its operations, the Company may be subject to litigation matters and claims.
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MINNOW FILMS (BILLIONAIRES) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
8.Contingent liabilities (continued)
At the balance sheet date, the Company continued to be party to a number of ongoing lawsuits in India.
Litigation can be expensive and disruptive to normal business operations. Moreover, the results of complex legal proceedings are difficult to predict and the Company's view of these matters may change in the future as the litigation and events related thereto unfold.
In the ordinary course of business, the Company has entered into contractual arrangements under which the broadcaster of the production subject to litigation matters and claims has agreed to provide indemnification of varying scope and terms to the Company with respect to certain matters including, but not limited to, infringement claims made by third parties. The broadcaster'’s obligations under these arrangements may also be limited in terms of time and/or amount.
Following the balance sheet date, reimbursement of legal costs incurred by the Company to the value of £100,000 was agreed with the broadcaster in respect of costs incurred up to the end of July 2025. Any subsequent reimbursement would be conditional on the Company making a further claim with the broadcaster pursuant to the procedures specified in the particular contract and the broadcaster agreeing with the Company's claim.
The Company estimates legal costs payable to their legal counsel for the year ended 31 March 2026 in respect of the aforementioned ongoing litigation matters to be around c.£50,000 to £65,000. This sum does not include any restitution that may payable to the plaintiff following verdict being made by the Courts for it is not possible at this stage to identify if in any or all instances whether such a liability exists, whether said liability will be indemnified by the broadcaster and/or to quantify any such liability with reasonable certainty.
The directors of the Company's parent undertaking with whom the Company holds a loan relationship with (see note 6) have confirmed their intention to not seek repayment of amounts owed to them by the Company until such time as the Company can repay them and to provide further financial support where necessary in order for the Company to meet its obligations towards its litigation matters as they should fall due.
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Related party transactions
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The Company has taken advantage of exemptions provided by Section 33 of Financial Reporting Standard 102 from the requirement to disclose transactions undertaken or balances carried forward as at the balance sheet date between the Company and its fellow wholly-owned group undertakings.
There were no other related party transactions and/or period end balances to report in accordance with the Companies Act 2006 and Section 1A of Financial Reporting Standard 102 as part of these financial statements.
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The Company's immediate parent company is Minnow Films Limited, a company incorporated under the UK Companies Act 1985, which holds a 100% interest in the total voting rights of the Company.
Minnow Films Limited, whose registered office is located at 124 Finchley Road, London, NW3 5JS, is the parent undertaking of the smallest group to consolidate these financial statements.
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MINNOW FILMS (BILLIONAIRES) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
The auditors' report on the financial statements for the year ended 31 March 2025 was unqualified.
The audit report was signed on 19 December 2025 by Anthony Pins (senior statutory auditor) on behalf of Nyman Libson Paul LLP.
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