Company Registration No. 15025109 (England and Wales)
Sweet Beans Productions Limited
Annual report and financial statements
for the period ended 31 July 2025
Sweet Beans Productions Limited
Company information
Directors
Mr Rian Johnson
Mr Ram Bergman
Company number
15025109
Registered office
71 Queen Victoria Street
London
United Kingdom
EC4V 4BE
Independent auditor
Saffery LLP
71 Queen Victoria Street
London
EC4V 4BE
Sweet Beans Productions Limited
Contents
Page
Strategic report
1 - 2
Directors' report
3
Directors' responsibilities statement
4
Independent auditor's report
5 - 7
Statement of comprehensive income
8
Statement of financial position
9
Statement of changes in equity
10
Notes to the financial statements
11 - 19
Sweet Beans Productions Limited
Strategic report
For the period ended 31 July 2025
1

The directors present the strategic report for the period ended 31 July 2025.

Review of the business

During the period the company was involved in production of a film. The company incurred a profit before tax of £339,727 (2024 - £2,334,425) and at the period end had net assets of £34,910 (2024 - £31,501)

Principal risks and uncertainties

The directors have reviewed the risks and resultant uncertainties facing the business as being the ability to secure future contracts. However, the ultimate parent company has provided sufficient assurance that it will support the company and provide the necessary finances for its future operations.

Key performance indicators

The directors consider the company's key financial performance indicator to be whether the film is completed in line with the production budget. At the period end, the final costs were in line with the production budget and the project has been funded by its financiers.

The directors consider the company's key non-financial performance indicator to be whether the film is certified as British. As of the date of signature, the company has received the final British Film Certificate.

Promoting the success of the company

Under section 172(1) of the Companies Act 2006, the Directors must act in a way that they consider, in good faith, would most likely promote the success of the Company for the benefit of its members as a whole, and in doing so have regard (amongst other matters) to:

- the likely consequences of any decision in the long-term;

- the interests of the company's employees;

- the need to foster the company's business relationships with suppliers, customers and others;

- the impact of the company's operations on the community and the environment;

- the desirability of the company maintaining a reputation for high standards of business conduct; and

- the need to act fairly between shareholders of the company.

This section explains how the Directors of the Company, both individually and collectively, have had regard to the factors listed above in their decision making during the period ended 30 September 2024. As part of their decision-making process, the Directors have regard to the likely consequences of any decision in the long term.

Our Employees

The Directors recognize that employees are central to our success. We embrace diversity of background, culture, skills and experience throughout our business, and seek to have a workforce that is inclusive and reflective of the diversity of our stakeholders, including our shareholders, employees, customers, suppliers and the communities where we operate.

Our Partners

As a part of the Trick Window Group, the Directors and the Company as a whole seek to build long-term relationships with our suppliers and customers and help them succeed. A critical part of doing business is partnering with others, and we believe that partnerships are built on trust and mutual advantage. The Trick Window Group considers these relationships and the feedback received from engagement with our partners in its decision-making process.

We expect our suppliers and business partners to act ethically and share in our commitment to operate with integrity and in accordance with applicable laws and regulations, as set forth in our Code of Conduct for Suppliers and Business Partners.

Sweet Beans Productions Limited
Strategic report (continued)
For the period ended 31 July 2025
2

Our Communities

As a part of the Trick Window Group, the Directors and the Company as a whole seek to use our resources – our people, programming and platforms – to work toward opportunity for all in areas where we can have a meaningful impact. By supporting local communities, our teammates, and our planet we can help create a world of unlimited possibilities so that together we can build a future that benefits generations to come. We are focusing our efforts in the following areas:

- Digital Equity. Helping people access the resources, skills, and tools they need to succeed in an increasingly digital world.

- Diversity, Equity & Inclusion. Embracing diversity of background, culture, skills and experience throughout our business.

- Environment. Shaping a more sustainable future by improving our environmental impact.

- Values & Integrity. Fostering a company culture built on integrity and respect. Our values and principles guide everything we do.

Environment

The Directors and the Company as a whole have considered the importance of climate change and working towards the Trick Window Group’s strategy for a sustainable future. To achieve these goals, we are focused primarily on sourcing clean and renewable energy and improving energy efficiency. We are also innovating to create more sustainable products and packaging.

The Directors and management of the Company are responsible for ensuring the Company contributes to the progress toward these Group wide goals, and consideration of these goals, together with wider environmental impact considerations, are incorporated into the Company’s decision-making processes.

Members

The Company is part of the Trick Window Group and is ultimately controlled by the shareholders. The duties of the Directors are exercised in a way that is most likely to promote the success of the Company, the Trick Window Group as a whole, while having regard to the factors outlined in Section 172.

On behalf of the board

Mr R Bergman
Director
19 December 2025
Sweet Beans Productions Limited
Directors' report
For the period ended 31 July 2025
3

The directors present their annual report and financial statements for the period ended 31 July 2025.

Principal activities

The principal activity of the company continued to be that of film production.

Results and dividends

No ordinary dividends were paid. The directors do not recommend payment of a final dividend.

Directors

The directors who held office during the period and up to the date of signature of the financial statements were as follows:

Mr Rian Johnson
Mr Ram Bergman
Auditor

The auditor, Saffery LLP, is deemed to be reappointed under section 487(2) of the Companies Act 2006.

Energy and carbon report

As the company has consumed less than 40,000 kWh of energy in this reporting period, it is not required to report on its emissions, energy consumption or energy efficiency activities.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

On behalf of the board
Mr R Bergman
Director
19 December 2025
Sweet Beans Productions Limited
Directors' responsibilities statement
For the period ended 31 July 2025
4

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).

Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;

- make judgements and accounting estimates that are reasonable and prudent;

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Sweet Beans Productions Limited
Independent auditor's report
To the member of Sweet Beans Productions Limited
5
Opinion

We have audited the financial statements of Sweet Beans Productions Limited (the 'company') for the period ended 31 July 2025 which comprise the statement of comprehensive income, the statement of financial position, the statement of changes in equity and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 31 July 2025 and of its profit for the period then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Sweet Beans Productions Limited
Independent auditor's report
To the member of Sweet Beans Productions Limited (continued)
6

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

- the information given in the strategic report and the directors' r eport for the financial period for which the financial statements are prepared is consistent with the financial statements; and

- the strategic report and the directors' report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identifie d material misstatements in the strategic report or the directors' r eport.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

- the financial statements are not in agreement with the accounting records and returns; or

- certain disclosures of remuneration specified by law are not made; or

- we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the directors' r esponsibilities s tatement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud are detailed below.

Identifying and assessing risks related to irregularities:

We assessed the susceptibility of the company’s financial statements to material misstatement and how fraud might occur, including through discussions with the directors, discussions within our audit team planning meeting, updating our record of internal controls and ensuring these controls operated as intended. We evaluated possible incentives and opportunities for fraudulent manipulation of the financial statements. We identified laws and regulations that are of significance in the context of the company by discussions with directors and by updating our understanding of the sector in which the company operates.

Laws and regulations of direct significance in the context of the company include The Companies Act 2006 and UK Tax legislation, specifically legislation relating to creative industry tax credits.

Sweet Beans Productions Limited
Independent auditor's report
To the member of Sweet Beans Productions Limited (continued)
7

In addition, the company is subject to other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to its ability to operate or to avoid a material penalty. These include anti-bribery legislation, employment law and legislation relating to creative industry tax credits.

Audit response to risks identified

We considered the extent of compliance with these laws and regulations as part of our audit procedures on the related financial statement items including a review of financial statement disclosures. We reviewed the company's records of breaches of laws and regulations, minutes of meetings and correspondence with relevant authorities to identify potential material misstatements arising. We discussed the company's policies and procedures for compliance with laws and regulations with members of management responsible for compliance. We have reviewed management's assessment of how the company, and production, comply with the relevant laws and regulations governing access to the creative industry tax credits.

During the planning meeting with the audit team, the engagement partner drew attention to the key areas which might involve non-compliance with laws and regulations or fraud. We enquired of management whether they were aware of any instances of non-compliance with laws and regulations or knowledge of any actual, suspected or alleged fraud. We addressed the risk of fraud through management override of controls by testing the appropriateness of journal entries and identifying any significant transactions that were unusual or outside the normal course of business. We assessed whether judgements made in making accounting estimates gave rise to a possible indication of management bias. At the completion stage of the audit, the engagement partner’s review included ensuring that the team had approached their work with appropriate professional scepticism and thus the capacity to identify non-compliance with laws and regulations and fraud.

There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the company's members in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to the members in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members, for our audit work, for this report, or for the opinions we have formed.

Nigel Walde
Senior Statutory Auditor
For and on behalf of Saffery LLP
19 December 2025
Statutory Auditors
71 Queen Victoria Street
London
EC4V 4BE
Sweet Beans Productions Limited
Statement of comprehensive income
For the period ended 31 July 2025
8
Period
Period
ended
ended
31 July
30 September
2025
2024
Notes
£
£
Turnover
3
9,296,011
115,603,097
Cost of sales
(13,293,535)
(144,082,149)
Gross loss
(3,997,524)
(28,479,052)
Administrative expenses
4
(34,884)
185,475
Other operating income
3
4,398,802
30,628,002
Profit before taxation
366,394
2,334,425
Tax on profit
7
(362,985)
(2,302,925)
Profit for the financial period
3,409
31,500

The statement of comprehensive income has been prepared on the basis that all operations are continuing operations.

Sweet Beans Productions Limited
Statement of financial position
As at 31 July 2025
31 July 2025
9
31 July 2025
30 September 2024
Notes
£
£
£
£
Current assets
Debtors
8
4,326,783
31,947,614
Cash at bank and in hand
24,753
439,726
4,351,536
32,387,340
Creditors: amounts falling due within one year
9
(4,316,626)
(32,355,839)
Net current assets
34,910
31,501
Capital and reserves
Called up share capital
11
1
1
Profit and loss reserves
34,909
31,500
Total equity
34,910
31,501
The financial statements were approved by the board of directors and authorised for issue on 19 December 2025 and are signed on its behalf by:
Mr R Bergman
Director
Company Registration No. 15025109
Sweet Beans Productions Limited
Statement of changes in equity
For the period ended 31 July 2025
10
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 24 July 2023
-
0
-
0
-
Period ended 30 September 2024:
Profit and total comprehensive income
-
31,500
31,500
Issue of share capital
11
1
-
1
Balance at 30 September 2024
1
31,500
31,501
Period ended 31 July 2025:
Profit and total comprehensive income
-
3,409
3,409
Balance at 31 July 2025
1
34,909
34,910
Sweet Beans Productions Limited
Notes to the financial statements
For the period ended 31 July 2025
11
1
Accounting policies
Company information

Sweet Beans Productions Limited is a private company limited by shares incorporated in England and Wales. The registered office is 71 Queen Victoria Street, London, United Kingdom, EC4V 4BE.

1.1
Reporting period

The accounting period is a 10-month period spanning from 1 October 2024 to 31 July 2025. The prior period accounts were prepared for the 14-month period spanning from 24 July 2023 to 30 September 2024 and so are not comparable.

The current period of accounts are prepared for the period from 1 October 2024 to 31 July 2025 in order to align with the stage of completion of the film.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in British pounds sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. T he company has therefore taken advantage of e xemptions from the following disclosure requirements:

- Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures;

- Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues: Interest income/expense and net gains/losses for financial instruments not measured at fair value; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;

- Section 26 ‘Share based Payment’: Share-based payment expense charged to profit or loss, reconciliation of opening and closing number and weighted average exercise price of share options, how the fair value of options granted was measured, measurement and carrying amount of liabilities for cash-settled share-based payments, explanation of modifications to arrangements;

- Section 33 ‘Related Party Disclosures’: Compensation for key management personnel.

The financial statements of the company are consolidated in the financial statements of Trick Window Holdings, LLC. These consolidated financial statements are available from its registered office, 3501 Cahuenga Blvd W, CA 90068, Los Angeles, United States of America.

1.3
Going concern

A true t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Sweet Beans Productions Limited
Notes to the financial statements (continued)
For the period ended 31 July 2025
1
Accounting policies (continued)
12
1.4
Turnover

In respect of long-term contracts for ongoing services, turnover represents the value of work done in the period, including estimates for amounts not invoiced. Value of work done in respect of long-term contracts and contracts for ongoing services is determined by reference to the stage of completion.

The "percentage of completion" method is used to determine the appropriate amount to recognise in a given period. The stage of completion is measured by the proportion of contract costs incurred for work performed to date compared to the estimated total contract costs. Costs incurred in the period in connection with future activity on a contract are excluded from contract costs in determining the stage of completion. These costs are presented as stocks, prepayments or other assets depending on their nature and provided it is probable that they will be recovered.

1.5
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 current liabilities.

1.6
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, 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.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Sweet Beans Productions Limited
Notes to the financial statements (continued)
For the period ended 31 July 2025
1
Accounting policies (continued)
13
Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. 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 profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

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 paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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. A m ounts 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.

Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are s ubsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value th r ough profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Sweet Beans Productions Limited
Notes to the financial statements (continued)
For the period ended 31 July 2025
1
Accounting policies (continued)
14
Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.7
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.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently pay able is based on relievable losses arising in the period as the result of film tax relief legislation. Relievable losses differ from net losses as reported in the statement of comprehensive income because they include an additional deduction relating to qualifying film development expenditure and exclude items of income or expense that are taxable or deductible in other periods, as well as items that are never taxable or deductible. The company's tax position is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

1.9
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.

1.10
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.11
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

1.12
Government grants

Government grants are recognised at the fair value of the asset receive d or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

Sweet Beans Productions Limited
Notes to the financial statements (continued)
For the period ended 31 July 2025
1
Accounting policies (continued)
15
1.13
Foreign exchange

Transactions in currencies other than sterling are recorded at the rates of exchange prevailing at the dates of the transactions where practicable or at an average rate for the year. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date.

2
Critical accounting judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Tax credit estimate

A key accounting estimate within the financial statements for this company is the valuation of the film tax credit available. The estimate is based on the assessment of the value of qualifying expenditure as per HMRC legislations and guidance plus assessment of the qualification of the underlying production as eligible for the tax relief.

Audio visual expenditure credit (AVEC) estimate

A key accounting estimate within the financial statements for this company is the valuation of the AVEC available. The estimate is based on the assessment of the value of qualifying expenditure as per HMRC legislations and guidance plus assessment of the qualification of the underlying production as eligible for the tax credit.

Sweet Beans Productions Limited
Notes to the financial statements (continued)
For the period ended 31 July 2025
16
3
Turnover and other revenue
2025
2024
£
£
Turnover analysed by class of business
Sale of film rights
9,292,601
115,571,597
Production services fee
3,410
31,500
9,296,011
115,603,097
2025
2024
£
£
Turnover analysed by geographical market
United States of America
9,296,011
115,603,097
2025
2024
£
£
Other revenue
Grants received
4,398,802
30,628,002
4
Operating profit
2025
2024
Operating profit for the period is stated after charging/(crediting):
£
£
Exchange gains
(1,816)
(222,475)
Government grants
(4,398,802)
(30,628,002)
Fees payable to the company's auditor for the audit of the company's financial statements
23,000
23,000
Fees payable to the company's auditor for the non-audit services
13,700
-
5
Auditor's remuneration
2025
2024
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the company
23,000
23,000
Sweet Beans Productions Limited
Notes to the financial statements (continued)
For the period ended 31 July 2025
17
6
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2025
2024
Number
Number
Production
2
61

Their aggregate remuneration comprised:

2025
2024
£
£
Wages and salaries
97,582
3,937,315
Social security costs
11,723
466,175
Pension costs
1,283
21,666
110,588
4,425,156
7
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
362,985
2,302,925

The actual charge for the period can be reconciled to the expected charge for the period based on the profit or loss and the standard rate of tax as follows:

2025
2024
£
£
Profit before taxation
366,394
2,334,425
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
91,599
583,606
Difference to profit arising per the accounts due to audio-visual expenditure credit claim
271,386
1,719,319
Taxation charge for the period
362,985
2,302,925
Sweet Beans Productions Limited
Notes to the financial statements (continued)
For the period ended 31 July 2025
18
8
Debtors
2025
2024
Amounts falling due within one year:
£
£
Corporation tax recoverable
-
0
53,076
Amounts owed by group undertakings
240,384
-
0
Other debtors
4,086,399
31,737,688
Prepayments and accrued income
-
0
156,850
4,326,783
31,947,614
9
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
-
0
960,892
Amounts owed to group undertakings
4,279,631
29,685,742
Other creditors
-
0
1,306,119
Accruals and deferred income
36,995
403,086
4,316,626
32,355,839
10
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
1,283
21,666

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

11
Share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
1
1
1
1
12
Financial commitments, guarantees and contingent liabilities

Netflix US LLC holds a fixed and floating charge over the property and undertaking of the company.

The Company is is due to make total payments of £36,808,768 to various contracted individuals involved in the production once the film has been released commercially.

13
Related party transactions
Sweet Beans Productions Limited
Notes to the financial statements (continued)
For the period ended 31 July 2025
13
Related party transactions (continued)
19

The company has taken advantage of the exemptions available under FRS 102 Section 33.1A whereby it is not required to disclose transactions entered into between two or more members of the group, provided that any subsidiary which is a party to the transaction is wholly owned by such a member.

14
Ultimate controlling party

The smallest and largest group in which the results of the company will be consolidated is that headed by its immediate and ultimate parent undertaking, Trick Window Holdings, LLC, a company incorporated in the United States of America. The consolidated financial statements for this company are available to the public and may be obtained from 3501 Cahuenga Blvd W, CA 90068, Los Angeles, United States of America.

The directors consider there to be no ultimate controlling party by virtue of no one person or company owning more than 50% of the shares.

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