NEMO PRODUCTIONS LTD

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

1. General Information

NEMO PRODUCTIONS LTD is a private company, limited by shares, incorporated in England & Wales, registered number 07820253 . The registered office is 45 Thorburn Square , Fort Road, Bermondsey, SE1 5QH.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

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

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	25% per annum/straight line
Computer Equipment	25% per annum/straight line

2.4. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.5. Financial Instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with 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.

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 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. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

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, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

...CONTINUED

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NEMO PRODUCTIONS LTD

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.5. Financial Instruments - continued

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

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

2.6. Taxation

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement 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.

2.7. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

2.8. Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

2.9. Equity Instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2.10. Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 4 (2023: 4)

4. Tangible Assets

	Plant & Machinery	Computer Equipment	Total
	£	£	£
Cost
As at 1 January 2024	12,158	2,337	14,495

As at 31 December 2024	12,158	2,337	14,495

Depreciation
As at 1 January 2024	12,158	2,156	14,314
Provided during the period	-	181	181

As at 31 December 2024	12,158	2,337	14,495

Net Book Value
As at 31 December 2024	-	-	-

As at 1 January 2024	-	181	181

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NEMO PRODUCTIONS LTD

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

5. Stocks

	2024	2023
	£	£
Stock	975	950

6. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	8,815	960
Other debtors	9,748	9,748

	18,563	10,708

7. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Bank loans and overdrafts	14,375	10,000
Other creditors	71,732	12,091
Taxation and social security	56,365	56,832

	142,472	78,923

8. Creditors: Amounts Falling Due After More Than One Year

	2024	2023
	£	£
Bank loans	4,167	14,167

9. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	1	1

10. Other Commitments

The total of future minimum lease payments under non-cancellable operating leases are as following:

	2024	2023
	£	£
Not later than one year	13,953	16,014
Later than one year and not later than five years	12,000	25,952

	25,953	41,966

11. Post Balance Sheet Events

There are no events after the balance sheet date that require disclosure or adjustments to the financial statements.

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		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		-		181

			-		181
CURRENT ASSETS
Stocks	5	975		950
Debtors	6	18,563		10,708
Cash at bank and in hand		250		7,554

		19,788		19,212
Creditors: Amounts Falling Due Within One Year	7	(142,472 )		(78,923 )

NET CURRENT ASSETS (LIABILITIES)			(122,684 )		(59,711 )

TOTAL ASSETS LESS CURRENT LIABILITIES			(122,684 )		(59,530 )

Creditors: Amounts Falling Due After More Than One Year	8		(4,167 )		(14,167 )

NET LIABILITIES			(126,851 )		(73,697 )

CAPITAL AND RESERVES
Called up share capital	9		1		1
Profit and Loss Account			(126,852 )		(73,698 )

SHAREHOLDERS' FUNDS			(126,851)		(73,697)