REGISTERED NUMBER: 02408016 (England and Wales)

Financial Statements

for the Year Ended 31 March 2025

for

ADVENTURE PICTURES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

C J Sheppard

SECRETARY:

C S Potter

REGISTERED OFFICE:

6 Blackbird Yard

Ravenscroft Street

London

E2 7RP

REGISTERED NUMBER:

02408016 (England and Wales)

ACCOUNTANTS:

Rawse, Varley & Co

Chartered Accountants

Lloyds Bank Chambers

Hustlergate

Bradford

BD1 1UQ

FIXED ASSETS

Intangible assets

4

19,277

-

Tangible assets

5

5,172

6,242

24,449

6,242

CURRENT ASSETS

Work in progress

189,176

164,726

Debtors

6

61,488

78,064

Cash at bank

8,096

19,674

258,760

262,464

CREDITORS

Amounts falling due within one year

7

267,528

256,081

NET CURRENT (LIABILITIES)/ASSETS

(8,768

)

6,383

TOTAL ASSETS LESS CURRENT LIABILITIES

15,681

12,625

CAPITAL AND RESERVES

Called up share capital

8

2

2

Retained earnings

15,679

12,623

SHAREHOLDERS' FUNDS

15,681

12,625

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 22 December 2025 and were signed by:

C J Sheppard - Director

1.	STATUTORY INFORMATION

Adventure Pictures Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents the sales value of work done on film productions, including amounts not invoiced and excluding value added tax.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Intangible assets consist of film rights to the feature film "Orlando" and is written off over its estimated useful economic life of 10 years.

Tangible fixed assets

Tangible fixed assets are stated at cost less depreciation.

Depreciation is calculated to write off the assets to their estimated residual values by the end of their useful lives at the following annual rates:

Fittings and equipment

-

15% of cost

Leasehold improvements

-

over 10 years

Work in progress

Work in progress is valued at the lower of cost and net realiseable value. Cost includes an appropriate proportion of production overheads.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Profit recognition on contracts

Profit on film production contracts is recognised as the work is carried out, if the final outcome can be assessed with reasonable certainty. The amount of profit recognised on each contract is the lower of the profit earned to date and the appropriate proportion of profit expected at completion. Full provision is made for known losses at completion immediately such losses are identified.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - 1 ).

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

Additions

21,419

At 31 March 2025

21,419

AMORTISATION

Charge for year

2,142

At 31 March 2025

2,142

NET BOOK VALUE

At 31 March 2025

19,277

5.	TANGIBLE FIXED ASSETS

Land and

Plant and

buildings

equipment

Totals

£

£

£

COST

At 1 April 2024

6,797

36,689

43,486

Additions

-

1,590

1,590

Disposals

-

(5,540

)

(5,540

)

At 31 March 2025

6,797

32,739

39,536

DEPRECIATION

At 1 April 2024

6,647

30,597

37,244

Charge for year

150

2,510

2,660

Eliminated on disposal

-

(5,540

)

(5,540

)

At 31 March 2025

6,797

27,567

34,364

NET BOOK VALUE

At 31 March 2025

-

5,172

5,172

At 31 March 2024

150

6,092

6,242

6.

DEBTORS

2025

2024

£

£

Amounts falling due within one year:

Trade debtors

5,624

5,797

Other debtors

-

2,752

Corporation tax

-

6,294

Prepayments and accrued income

17,554

24,103

23,178

38,946

Amounts falling due after more than one year:

Deferred tax asset

38,310

39,118

Aggregate amounts

61,488

78,064

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

6,487

3,029

Taxation and social security

736

-

Other creditors

260,305

253,052

267,528

256,081

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

2

Ordinary

£1

2

2