Company Registration No. 08296680 (England and Wales)
Back Pack Production Limited
Annual report and financial statements
for the year ended 31 January 2025
Back Pack Production Limited
Company information
Directors
Isabelle Texier
Estelle Cerri
(Appointed 2 December 2024)
Company number
08296680
Registered office
The HKX Building
3 Pancras Square
London
NC1 4AG
Independent auditor
Saffery LLP
71 Queen Victoria Street
London
EC4V 4BE
Back Pack Production Limited
Contents
Page
Directors' report
1
Directors' responsibilities statement
2
Independent auditor's report
3 - 5
Statement of comprehensive income
6
Balance sheet
7
Statement of changes in equity
8
Notes to the financial statements
9 - 13
Back Pack Production Limited
Directors' report
For the year ended 31 January 2025
1

The directors present their annual report and financial statements for the year ended 31 January 2025.

Principal activities

The principal activity of the company during the year was that of paying ongoing production costs of a feature film.

Directors

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

Sylvie Arnould
(Resigned 2 February 2026)
Isabelle Texier
Estelle Cerri
(Appointed 2 December 2024)
Results and dividends

The results for the year are set out on page 6.

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

Auditor

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

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
Isabelle Texier
Director
12 March 2026
Back Pack Production Limited
Directors' responsibilities statement
For the year ended 31 January 2025
2

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;

- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

- 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.

Back Pack Production Limited
Independent auditor's report
To the member of Back Pack Production Limited
3
Opinion

We have audited the financial statements of Back Pack Production Limited (the 'company') for the year ended 31 January 2025 which comprise the statement of comprehensive income, the balance sheet, 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 January 2025 and of its profit for the year 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.

Back Pack Production Limited
Independent auditor's report
To the member of Back Pack Production Limited (continued)
4

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 directors' r eport for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- the directors' report has 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 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 directors' remuneration specified by law are not made; or

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

- the directors were not entitled to take advantage of the small companies exemption from the requirement to prepare a strategic report.

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.

Back Pack Production Limited
Independent auditor's report
To the member of Back Pack Production Limited (continued)
5

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.

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.

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 member 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 member those matters we are required to state to the member 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 member, 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
25 March 2026
Statutory Auditors
71 Queen Victoria Street
London
EC4V 4BE
Back Pack Production Limited
Statement of comprehensive income
For the year ended 31 January 2025
6
2025
2024
Notes
£
£
Turnover
3
30,231
62,230
Cost of sales
(15,260)
(33,204)
Gross profit
14,971
29,026
Administrative expenses
(14,971)
(29,026)
Profit before taxation
-
0
-
0
Tax on profit
-
0
-
0
Profit for the financial year
-
0
-
0

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

Back Pack Production Limited
Balance sheet
As at 31 January 2025
31 January 2025
7
2025
2024
Notes
£
£
£
£
Current assets
Debtors
6
83,962
110,006
Cash at bank and in hand
1,245
71,196
85,207
181,202
Creditors: amounts falling due within one year
7
(26,370)
(122,365)
Net current assets
58,837
58,837
Capital and reserves
Called up share capital
8
1
1
Profit and loss reserves
58,836
58,836
Total equity
58,837
58,837
The financial statements were approved by the board of directors and authorised for issue on 12 March 2026 and are signed on its behalf by:
Isabelle Texier
Director
Company Registration No. 08296680
Back Pack Production Limited
Statement of changes in equity
For the year ended 31 January 2025
8
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 February 2023
1
58,836
58,837
Year ended 31 January 2024:
Profit and total comprehensive income
-
-
0
-
0
Balance at 31 January 2024
1
58,836
58,837
Year ended 31 January 2025:
Profit and total comprehensive income
-
-
0
-
0
Balance at 31 January 2025
1
58,836
58,837
Back Pack Production Limited
Notes to the financial statements
For the year ended 31 January 2025
9
1
Accounting policies
Company information

Back Pack Production Limited is a private company limited by shares incorporated in England and Wales. The registered office is The HKX Building, 3 Pancras Square, London, NC1 4AG.

1.1
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 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 Canal+ SA. These consolidated financial statements are available from 50 rue Camille Desmoulins, 92863 Issy-les-Moulineaux, Cadex 9, France.

1.2
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.

1.3
Turnover

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

Back Pack Production Limited
Notes to the financial statements (continued)
For the year ended 31 January 2025
1
Accounting policies (continued)
10

The "percent 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 they will be recovered.

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.

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 balance sheet 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.

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.

Back Pack Production Limited
Notes to the financial statements (continued)
For the year ended 31 January 2025
1
Accounting policies (continued)
11
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.

Derecognition of financial liabilities

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

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 recover able and deferred tax.

Current tax

The tax currently recover able is based on relievable losses arising in the year as the result of film tax relief legislation. Relievable losses differ from net losses as reported in the profit and loss account because they include an additional deduction relating to qualifying film development expenditure and ex clude items of income or expense that are taxable or deductible in other years, as well as 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.

1.8
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange at the prevailing dates of the transactions where practicable, else at the average rate over the period in which the transactions were incurred. At the reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the prevailing rates on the reporting end date. Gains and losses arising on transactions are included in the profit and loss account for the period.

Back Pack Production Limited
Notes to the financial statements (continued)
For the year ended 31 January 2025
12
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.

3
Turnover

An analysis of the company's turnover is as follows:

2025
2024
£
£
Turnover analysed by class of business
Sale of rights
30,231
62,230
2025
2024
£
£
Turnover analysed by geographical market
France
30,231
62,230
4
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
13,971
26,026
For other services
Taxation compliance services
1,000
3,000
5
Employees

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

2025
2024
Number
Number
Total
0
0
Back Pack Production Limited
Notes to the financial statements (continued)
For the year ended 31 January 2025
13
6
Debtors
2025
2024
Amounts falling due within one year:
£
£
Amounts owed by fellow group subsidiary companies
83,962
110,006
7
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
11,392
-
0
Amounts owed to group undertakings
-
0
98,115
Other creditors
-
0
6,811
Accruals and deferred income
14,978
17,439
26,370
122,365
8
Share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary share of £1 each
1
1
1
1
9
Related party transactions
Transactions with related parties

The company has taken advantage of the exemption under paragraph 33.1a of FRS102 from disclosing transactions entered into between two or more members of a group, where any subsidiary undertaking which is a party to the transaction is wholly owned by a member of that group.

10
Ultimate controlling party

The company was under the control of Studiocanal Films Limited throughout the current year. Studiocanal Films Limited owns 100% of the shares in the company.

In the opinion of the directors, the ultimate parent company controlling party at year end was Canal+ SA, a company incorporated in France. Canal+ SA is publicly quoted and is under no overall control.

Canal+ SA is the parent undertaking of the largest and smallest group for which group accounts are drawn

up and of which the company is a member. Group accounts are publicly available from 50 rue Camille Desmoulins, 92863 Issy-les-Moulineaux Cedex 9, France.

Prior to a group restructuring that took place in December 2024, the ultimate parent was Viviendi SA, a company incorporated in France with registered office at 42 Avenue de Friedland, 75380 Paris Cedex 08, France.

2025-01-31 2024-02-01 false false false CCH Software CCH Accounts Production 2025.300 Sylvie Arnould Isabelle Texier Estelle Cerri 08296680 2024-02-01 2025-01-31 08296680 bus:Director2 2024-02-01 2025-01-31 08296680 bus:Director3 2024-02-01 2025-01-31 08296680 bus:Director1 2024-02-01 2025-01-31 08296680 bus:RegisteredOffice 2024-02-01 2025-01-31 08296680 2025-01-31 08296680 2023-02-01 2024-01-31 08296680 core:RetainedEarningsAccumulatedLosses 2023-02-01 2024-01-31 08296680 core:RetainedEarningsAccumulatedLosses 2024-02-01 2025-01-31 08296680 2024-01-31 08296680 core:CurrentFinancialInstruments core:WithinOneYear 2025-01-31 08296680 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-31 08296680 core:CurrentFinancialInstruments 2025-01-31 08296680 core:CurrentFinancialInstruments 2024-01-31 08296680 core:ShareCapital 2025-01-31 08296680 core:ShareCapital 2024-01-31 08296680 core:RetainedEarningsAccumulatedLosses 2025-01-31 08296680 core:RetainedEarningsAccumulatedLosses 2024-01-31 08296680 core:ShareCapital 2023-01-31 08296680 core:RetainedEarningsAccumulatedLosses 2023-01-31 08296680 core:ShareCapitalOrdinaryShareClass1 2025-01-31 08296680 core:ShareCapitalOrdinaryShareClass1 2024-01-31 08296680 bus:OrdinaryShareClass1 2024-02-01 2025-01-31 08296680 bus:OrdinaryShareClass1 2025-01-31 08296680 bus:OrdinaryShareClass1 2024-01-31 08296680 bus:PrivateLimitedCompanyLtd 2024-02-01 2025-01-31 08296680 bus:FRS102 2024-02-01 2025-01-31 08296680 bus:Audited 2024-02-01 2025-01-31 08296680 bus:FullAccounts 2024-02-01 2025-01-31 xbrli:pure xbrli:shares iso4217:GBP