Company Registration No. 16435971 (England and Wales)
Quiddity Wolf Limited
Unaudited financial statements
for the period ended 14 November 2025
Pages for filing with the registrar
Quiddity Wolf Limited
Contents
Page
Accountants' report
1
Statement of financial position
2
Notes to the financial statements
3 - 7
Quiddity Wolf Limited
Accountants' report to the Director on the preparation of the unaudited statutory financial statements of Quiddity Wolf Limited for the period ended 14 November 2025
1

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Quiddity Wolf Limited for the period ended 14 November 2025 set out on pages 2 to 7 from the company’s accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/regulation.

This report is made solely to the B oard of D irectors of Quiddity Wolf Limited, as a body, in accordance with the terms of our engagement letter dated 4 August 2025. Our work has been undertaken solely to prepare for your approval the financial statements of Quiddity Wolf Limited and state those matters that we have agreed to state to the B oard of D irectors of Quiddity Wolf Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Quiddity Wolf Limited and its B oard of D irectors as a body, for our work or for this report.

It is your duty to ensure that Quiddity Wolf Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Quiddity Wolf Limited. You consider that Quiddity Wolf Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Quiddity Wolf Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory f inancial statements.

Saffery LLP
12 February 2026
71 Queen Victoria Street
London
EC4V 4BE
Quiddity Wolf Limited
Statement of financial position
As at 14 November 2025
2
2025
Notes
£
£
Current assets
Debtors
4
1,783,588
Cash at bank and in hand
84,765
1,868,353
Creditors: amounts falling due within one year
5
(1,952,011)
Net current liabilities
(83,658)
Creditors: amounts falling due after more than one year
6
(223,004)
Net liabilities
(306,662)
Capital and reserves
Called up share capital
7
1
Profit and loss reserves
(306,663)
Total equity
(306,662)

The director of the company has elected not to include a copy of the income statement within the financial statements.true

For the financial period ended 14 November 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

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

The financial statements were approved and signed by the director and authorised for issue on 12 February 2026.
E Morgan
Director
Company Registration No. 16435971
Quiddity Wolf Limited
Notes to the financial statements
For the period ended 14 November 2025
3
1
Accounting policies
Company information

Quiddity Wolf Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit E1-002, 91 Brick Lane, London, England, E1 6QL.

1.1
Reporting period

The financial statements are presented for the period beginning 7 May 2025 and ending 14 November 2025, which is shorter than a year. The company shortened its financial reporting date in order to align with the stage of completion of the production.

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 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in 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.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recover ed.

1.4
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.

Quiddity Wolf Limited
Notes to the financial statements (continued)
For the period ended 14 November 2025
1
Accounting policies (continued)
4
1.5
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, 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 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.

1.6
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.

1.7
Taxation

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

Current tax

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.

Quiddity Wolf Limited
Notes to the financial statements (continued)
For the period ended 14 November 2025
1
Accounting policies (continued)
5
1.8
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.

1.9
Retirement benefits

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

1.10
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.

Government grants relating to turnover are recognised as income over the periods when the related costs are incurred. Grants relating to an asset are recognised in income systematically over the asset's expected useful life. If part of such a grant is deferred it is recognised as deferred income rather than being deducted from the asset's carrying amount.

2
Critical accounting judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is 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.

Enhanced Audio-Visual Expenditure Credit

The key accounting estimate within the financial statements for this company is the valuation of the Enhanced Audio-Visual Expenditure Credit available. The estimate is based on the assessment of the value of qualifying expenditure as per HMRC legislation and guidance plus assessment of the qualification of the underlying production as eligible for the credit.

In the director's opinion, there were no other critical judgements or other estimation uncertainties in these financial statements.

Quiddity Wolf Limited
Notes to the financial statements (continued)
For the period ended 14 November 2025
6
3
Employees

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

2025
Number
Total
23
4
Debtors
2025
Amounts falling due within one year:
£
Amounts owed by group undertakings
1
Other debtors
1,783,587
1,783,588

Included in other debtors is £1,338,250 of government grant receivable.

5
Creditors: amounts falling due within one year
2025
£
Trade creditors
607,672
Other creditors
1,344,339
1,952,011
6
Creditors: amounts falling due after more than one year
2025
£
Bank loans and overdrafts
215,000
Other creditors
8,004
223,004
7
Called up share capital
2025
2025
Ordinary share capital
Number
£
Issued and fully paid
Ordinary shares of £1 each
1
1
Quiddity Wolf Limited
Notes to the financial statements (continued)
For the period ended 14 November 2025
7
8
Financial commitments, guarantees and contingent liabilities

A fixed and floating charge over all the rights, title and interest relating to the film being produced by Quiddity Wolf Limited was created on 29 August 2025 and is held by Compagnie Pour Le Financement des Loisirs S.A.

A fixed and floating charge over all the rights, title and interest relating to the film being produced by Quiddity Wolf Limited was created on 29 August 2025 and is held by Film Finances International LLC.

All charges were still outstanding at the period end.

9
Related party transactions

The company has taken advantage of the exemption under paragraph 33.1a of FRS 102 from disclosing transactions entered into between two or more members of a group, where any subsidiary undertaking which is party to the transaction is wholly owned by a member of that group.

10
Parent company

The company's immediate parent is Quiddity Films Limited, a company registered in England and Wales.

The company's controlling party is Emily Morgan, the director of the company and the parent company.

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