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# BIRNAM WOOD FILMS LIMITED

## Company Registration Number:
15322678 (England and Wales)

## Unaudited statutory accounts for the year ended 31 March 2025

## Period of accounts

## Start date: 1 December 2023

## End date: 31 March 2025

# BIRNAM WOOD FILMS LIMITED

## Contents of the Financial Statements

for the Period Ended 31 March 2025

Directors report |
Profit and loss |
Balance sheet |
Additional notes |
Balance sheet notes |

# BIRNAM WOOD FILMS LIMITED

Directors' report period ended 31 March 2025

The directors present their report with the financial statements of the company for the period ended 31 March 2025

Principal activities of the company

The Company’s principal activity is the production of audio-visual content. The Company was set up as a joint venture between Donmar Warehouse Projects Limited and Trafalgar Releasing Limited in order to produce the film Macbeth. Net Revenues are received directly by the investors, producers and creatives involved in the production.

Directors

The directors shown below have held office during the whole of the period from
1 December 2023 to 31 March 2025

M Allenby
H L A Finch

The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
3 February 2026

And signed on behalf of the board by:
Name: H L A Finch
Status: Director

# BIRNAM WOOD FILMS LIMITED

## Profit And Loss Account

for the Period Ended 31 March 2025

| 16 months to 31 March 2025
--- | ---
| £
Cost of sales: | ( 213,508 ) |
Gross profit(or loss): | (213,508)
Administrative expenses: | ( 1,129 ) |
Other operating income: | 133 |
Operating profit(or loss): | (214,504)
Profit(or loss) before tax: | (214,504)
Profit(or loss) for the financial year: | (214,504)

# BIRNAM WOOD FILMS LIMITED

## Balance sheet

As at 31 March 2025

| Notes | 16 months to 31 March 2025
--- | --- | ---
|  | £
Current assets
Debtors: | 3 | 592,115 |
Cash at bank and in hand: |  | 35,170 |
Total current assets: |  | 627,285
Creditors: amounts falling due within one year: | 4 | ( 841,788 ) |
Net current assets (liabilities): |  | (214,503)
Total assets less current liabilities: |  | (214,503)
Total net assets (liabilities): |  | (214,503)
Capital and reserves
Called up share capital: |  | 1 |
Profit and loss account: |  | (214,504 ) |
Total Shareholders' funds: |  | ( 214,503 )

The notes form part of these financial statements

# BIRNAM WOOD FILMS LIMITED

## Balance sheet statements

For the year ending 31 March 2025 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 3 February 2026
and signed on behalf of the board by:

Name: H L A Finch
Status: Director

The notes form part of these financial statements

# BIRNAM WOOD FILMS LIMITED

## Notes to the Financial Statements

for the Period Ended 31 March 2025

- ## 1. Accounting policies

  Basis of measurement and preparation

  These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

  Other accounting policies

  2.1 Basis of preparation of financial statements The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with 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 compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3). The Company's functional and presentational currency is GBP. Rounded to the nearest £1. The following principal accounting policies have been applied: 2.2 Financial Reporting Standard 102 - reduced disclosure exemptions The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland": the requirements of Section 7 Statement of Cash Flows; the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d); the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c); the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A; the requirements of Section 33 Related Party Disclosures paragraph 33.7. This information is included in the consolidated financial statements of Donmar Warehouse Projects Limited as at 31 March 2025 and these financial statements may be obtained from Companies House. 2.3 Going concern At 31 March 2025, the Company had net liabilities of £214,503. The Company has sufficient funds to meet its day to day working capital requirements for the foreseeable future. On this basis the directors consider it appropriate to adopt the going concern basis in preparing the financial statements. 2.4 Taxation Tax is recognised in the Statement of Comprehensive Income except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that: The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date. 2.5 Debtors Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment. 2.6 Cash and cash equivalents Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value. 2.7 Creditors Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. 2.8 Financial instruments The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other receivables and payables, loans to related parties and group undertakings. Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade receivables and payables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost. Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss. For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract. For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the reporting date. Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an 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. Financial liabilities are initially measured at transaction price (after deducting transaction costs) and subsequently held at amortised cost.

# BIRNAM WOOD FILMS LIMITED

## Notes to the Financial Statements

for the Period Ended 31 March 2025

- ## 2. Employees

  | 16 months to 31 March 2025
  --- | ---
  Average number of employees during the period | 0 |

# BIRNAM WOOD FILMS LIMITED

## Notes to the Financial Statements

for the Period Ended 31 March 2025

## 3. Debtors

| 16 months to 31 March 2025
--- | ---
| £
Prepayments and accrued income | 591,647 |
Other debtors | 468 |
Total | 592,115

# BIRNAM WOOD FILMS LIMITED

## Notes to the Financial Statements

for the Period Ended 31 March 2025

## 4. Creditors: amounts falling due within one year note

| 16 months to 31 March 2025
--- | ---
| £
Trade creditors | 142 |
Accruals and deferred income | 811,646 |
Other creditors | 30,000 |
Total | 841,788

Other creditors is made up of amounts owed to group undertakings.