Company Registration No. 11844582 (England and Wales)
Jackson River Films Limited
Annual report and financial statements
for the year ended 30 June 2025
Jackson River Films Limited
Company information
Directors
Iain Canning
Emile Sherman
Company number
11844582
Registered office
3rd Floor
45 Folgate Street
London
E1 6GL
Independent auditor
Saffery LLP
71 Queen Victoria Street
London
EC4V 4BE
Jackson River Films Limited
Contents
Page
Strategic report
1
Directors' report
2 - 4
Independent auditor's report
6 - 8
Statement of comprehensive income
9
Statement of financial position
10
Statement of changes in equity
11
Notes to the financial statements
12 - 19
Jackson River Films Limited
Strategic report
For the year ended 30 June 2025
1

The directors present the strategic report for the year ended 30 June 2025.

Review of the business

Profit for the period, after taxation was £nil (2024: £nil).

The company's net assets as at the balance sheet date are £1 (2024: £1).

The directors do not recommend the payment of a dividend in respect of the financial period ended 30 June 2025 (2024: £nil).

Principal risks and uncertainties

The project is fully financed by the broadcasters and for this reason the directors believe that the company has reduced exposure to business and financial risks.

Development and performance

The directors do not anticipate any significant future developments in the company.

Key performance indicators

The director s consider the c ompany's key financial performance indicator to be whether the programme is produced in line with the production budget. At the period end date, the estimated total cost of the programme was in line with the budget.

Section 172 Statement

The directors of Jackson River Films Limited consider that they have acted in the way they consider, in good faith, would be most likely to promote the success of the company for the benefit of its members as a whole (having regard to the stakeholders and matters set out in s172(1)(a-f) of the Act) in the decisions taken during the period ended 30 June 2025.

The Company is committed to being a responsible business. Our behaviour is aligned with the expectations of our people, suppliers, customers, communities and societies as a whole.

Our strategy focusses on creating high quality TV drama for the UK and global Film markets. To do this, we need to develop and maintain strong client relations. We value all of our suppliers and contractors and are committed to developing production talent.

On behalf of the board

Emile Sherman
Director
30 March 2026
Jackson River Films Limited
Directors' report
For the year ended 30 June 2025
2

The directors present their annual report and financial statements for the year ended 30 June 2025.

Principal activities

The principal activity of the company continued to be that of television programme production activities.

Results and dividends

The results for the year are set out on page 9.

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

Directors

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

Iain Canning
Emile Sherman
Disabled persons

Applications for employment by disabled persons are always fully considered, bearing in mind the aptitudes of the applicant concerned. In the event of members of staff becoming disabled, every effort is made to ensure that their employment within the company continues and that the appropriate training is arranged. It is the policy of the company that the training, career development and promotion of disabled persons should, as far as possible, be identical to that of other employees.

Employee involvement

The company's policy is to consult and discuss with employees, through unions, staff councils and at meetings, matters likely to affect employees' interests.

Information about matters of concern to employees is given through information bulletins and reports which seek to achieve a common awareness on the part of all employees of the financial and economic factors affecting the company's performance.

There is no employee share scheme at present, but the directors are considering the introduction of such a scheme as a means of further encouraging the involvement of employees in the company's performance.

Auditor

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

Energy and carbon report

UK greenhouse gas emissions and energy use data for the year ended 30 June 2025.

2025
2024
Energy consumption
kWh
kWh
Aggregate of energy consumption in the year
- Gas combustion
317,847
1,606,682
- Electricity purchased
434,904
302,272
- Fuel consumed for transport
3,707,203
1,476,828
4,459,954
3,385,782
Jackson River Films Limited
Directors' report (continued)
For the year ended 30 June 2025
3
2025
2024
Emissions of CO2 equivalent
metric tonnes
metric tonnes
Scope 1 - direct emissions
- Gas combustion
59.00
294.00
- Fuel consumed for owned transport
872.00
313.00
931.00
607.00
Scope 2 - indirect emissions
- Electricity purchased
77.00
63.00
Scope 3 - other indirect emissions
- Fuel consumed for transport not owned by the company
66.00
45.00
Total gross emissions
1,074.00
715.00
Intensity ratio
Intensity ratio (per £'000 revenue)
0.02
0.01
Quantification and reporting methodology

Energy usage covered in this disclosure covers services provided in the UK, and is primarily fuel used for business mileage, electricity and gas consumption in the filming studio. Energy usage has been calculated based on gas and electricity meter readings, extrapolated where readings were not available. Fuel used in respect of both reimbursed business mileage and in respect of vehicles owned or controlled by the firm have been taken from expense claims and have been extrapolated where data was not available.

The Company has followed the UK Government environmental reporting guidance and used the 2025 UK Government conversion factors.

Intensity measurement

The chosen intensity measurement ratio is total gross emissions in metric tonnes CO2e per £'000 revenue.

Measures taken to improve energy efficiency

The Company is committed to making effort to ensure that the production reduce its impact on our environment and increase awareness of sustainable behaviours. Following key steps are taken by the Company:

- Engage a Sustainability Consultant in pre-production to development a tailored environment policy

- Calculate carbon footprint using carbon accounting software

- Offset to compensate for unavoidable emission to achieve carbon neutral status

- On set, we recommend our crew use rechargeable batteries, LED lights, eliminate disposable water bottles, take part in Meat Free Day, participate in a food donation for any left-over meals, reduce the number of disposable items for hair & make-up, recycle and reclaim as much materials as possible for use on future productions

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.

Jackson River Films Limited
Directors' report (continued)
For the year ended 30 June 2025
4
On behalf of the board
Emile Sherman
Director
30 March 2026
Jackson River Films Limited
Directors' responsibilities statement
For the year ended 30 June 2025
5

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.

Jackson River Films Limited
Independent auditor's report
To the members of Jackson River Films Limited
6
Opinion

We have audited the financial statements of Jackson River Films Limited (the 'company') for the year ended 30 June 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 30 June 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.

Jackson River Films Limited
Independent auditor's report (continued)
To the members of Jackson River Films Limited
7

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 year 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 and the directors' r eport.

We have nothing to report in respect of the following matters where 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.

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.

Jackson River Films Limited
Independent auditor's report (continued)
To the members of Jackson River Films Limited
8
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 health and safety.

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 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 enduring 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, as a body, 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 them 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 as a body, for our audit work, for this report, or for the opinions we have formed.

Moses Nyachae
Senior Statutory Auditor
For and on behalf of Saffery LLP
1 April 2026
Accountants
Statutory Auditors
71 Queen Victoria Street
London
EC4V 4BE
Jackson River Films Limited
Statement of comprehensive income
For the year ended 30 June 2025
9
2025
2024
Notes
£
£
Turnover
3
60,261,254
63,342,858
Cost of sales
(73,720,706)
(78,494,758)
Gross loss
(13,459,452)
(15,151,900)
Administrative expenses
(42,250)
(53,236)
Other operating income
3
13,501,702
11,361,335
Loss before taxation
-
0
(3,843,801)
Tax on loss
7
-
0
3,843,801
Profit for the financial year
-
0
-
0
Jackson River Films Limited
Statement of financial position
As at 30 June 2025
10
30 June
30 June
2025
2024
Notes
£
£
£
£
Current assets
Debtors
8
33,739,010
38,358,735
Cash at bank and in hand
3,822,953
1,556,797
37,561,963
39,915,532
Creditors: amounts falling due within one year
9
(37,561,962)
(39,915,531)
Net current assets
1
1
Capital and reserves
Called up share capital
10
1
1
The financial statements were approved by the board of directors and authorised for issue on 30 March 2026 and are signed on its behalf by:
Emile Sherman
Director
Company Registration No. 11844582
Jackson River Films Limited
Statement of changes in equity
For the year ended 30 June 2025
11
Share capital
£
Balance at 1 July 2023
1
Year ended 30 June 2024:
Profit and total comprehensive income
-
Balance at 30 June 2024
1
Year ended 30 June 2025:
Profit and total comprehensive income
-
Balance at 30 June 2025
1
Jackson River Films Limited
Notes to the financial statements
For the year ended 30 June 2025
12
1
Accounting policies
Company information

Jackson River Films Limited is a private company limited by shares incorporated in England and Wales. The registered office is 3rd Floor, 45 Folgate Street, London, E1 6GL.

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 each category of financial instrument; 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 See-Saw Films Limited. These consolidated financial statements are available from its registered office, 3rd Floor, 45 Folgate Street, London, United Kingdom, E1 6GL.

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.

Jackson River Films Limited
Notes to the financial statements (continued)
For the year ended 30 June 2025
1
Accounting policies (continued)
13
1.3
Turnover

In respect of long-term contracts and 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 for on-going 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 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 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.

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.

Jackson River Films Limited
Notes to the financial statements (continued)
For the year ended 30 June 2025
1
Accounting policies (continued)
14
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.

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.

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.

Jackson River Films Limited
Notes to the financial statements (continued)
For the year ended 30 June 2025
1
Accounting policies (continued)
15
1.9
Retirement benefits

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

1.10
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.

1.11
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.

1.12
Foreign exchange

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

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 uncertianty
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 expenditure credit.

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

Jackson River Films Limited
Notes to the financial statements (continued)
For the year ended 30 June 2025
16
3
Turnover and other revenue
2025
2024
£
£
Turnover analysed by class of business
Sale of rights
60,261,254
63,342,858
Turnover analysed by geographical market
United States of America
60,261,254
63,342,858
2025
2024
£
£
Other significant revenue
Grants received
13,501,702
11,361,335
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
35,250
29,500
For other services
Taxation compliance services
4,000
2,000
All other non-audit services
3,000
2,500
7,000
4,500
5
Operating profit/(loss)
2025
2024
Operating profit/(loss) for the year is stated after charging/(crediting):
£
£
Exchange (gains)/losses
-
0
19,236
Government grants
(13,501,702)
(11,361,335)
Fees payable to the company's auditor for the audit of the company's financial statements
35,250
29,500
Fees payable to the company's auditor for non-audit services
7,000
4,500
6
Employees

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

2025
2024
Number
Number
Crew
115
217
Jackson River Films Limited
Notes to the financial statements (continued)
For the year ended 30 June 2025
6
Employees (continued)
17

Their aggregate remuneration comprised:

2025
2024
£
£
Wages and salaries
7,269,761
8,505,442
Social security costs
861,382
943,709
Pension costs
86,700
154,035
8,217,843
9,603,186
7
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
-
0
(3,843,801)

The actual charge/(credit) for the year can be reconciled to the expected credit for the year based on the profit or loss and the standard rate of tax as follows:

2025
2024
£
£
Profit/(loss) before taxation
-
0
(3,843,801)
Expected tax charge/(credit) based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
-
0
(960,950)
Tax effect of expenses that are not deductible in determining taxable profit
4,276
-
0
Change in unrecognised deferred tax assets
-
0
-
0
Enhanced losses arising from the film tax credit
-
0
(6,679,549)
Losses carried forward
-
0
3,796,698
Difference to profit arising per the accounts due to audio-visual expenditure credit claim
858,087
-
0
Utilisation of current year losses
3,037
-
0
Utilisation of brought forward losses
(865,400)
-
0
Taxation charge/(credit) for the year
-
(3,843,801)
Jackson River Films Limited
Notes to the financial statements (continued)
For the year ended 30 June 2025
18
8
Debtors
2025
2024
Amounts falling due within one year:
£
£
Corporation tax recoverable
3,843,801
16,217,863
Other debtors
27,038,602
16,489,945
Prepayments and accrued income
2,856,607
5,650,927
33,739,010
38,358,735

Within other debtors is an amount of £24,888,621 relating to Government grants. This balance relates entirely to the Audio Visual Expenditure Credit claimed in respect of a high-end television production.

9
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
16,110
2,160,427
Amounts owed to parent undertakings
6,613,574
7,849,016
Other creditors
30,320,853
25,921,816
Accruals and deferred income
611,425
3,984,272
37,561,962
39,915,531

Amounts owed to parent undertakings are unsecured, interest free and repayable on demand.

10
Share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary share of £1 each
1
1
1
1
11
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
86,700
154,035

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.

12
Financial commitments, guarantees and contingent liabilities

Apple Video Programming LLC holds a fixed and floating charge over the company which entitles it to the rights, title and interest in the entire copyright and all other rights in relation to the production.

Jackson River Films Limited
Notes to the financial statements (continued)
For the year ended 30 June 2025
19
13
Operating lease commitments

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2025
2024
£
£
Within one year
-
0
1,380,135
14
Related party transactions

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

15
Ultimate controlling party

As at 30 June 2025, the company's immediate parent undertaking is See-Saw Films (TV) Limited, a company incorporated in England and Wales. The company is controlled by its immediate parent company M&A Holdco Breteuil, a company incorporated and based in France, 46 Ave De Breteuil, 75007 Paris, France. The ultimate controlling party is HoldCo Breteuil SAS, a company incorporated and based in France.

The smallest group for which accounts are prepared and of which the company is a member, is See-Saw F ilms Limited. Copies of group accounts can be obtained from 45 Folgate Street, London, United Kingdom, E1 6GL.

The largest group for which accounts are prepared and of which the company is a member, is Mediawan Holding. Copies of group accounts can be obtained from 46 Ave de Breteuil, 75007 Paris, France.

2025-06-30 2024-07-01 false false false CCH Software CCH Accounts Production 2025.300 Iain Canning Emile Sherman 11844582 2024-07-01 2025-06-30 11844582 bus:Director1 2024-07-01 2025-06-30 11844582 bus:Director2 2024-07-01 2025-06-30 11844582 bus:RegisteredOffice 2024-07-01 2025-06-30 11844582 2025-06-30 11844582 2023-07-01 2024-06-30 11844582 2024-06-30 11844582 core:ShareCapital 2025-06-30 11844582 core:ShareCapital 2024-06-30 11844582 core:ShareCapital 2023-06-30 11844582 core:ShareCapitalOrdinaryShareClass1 2025-06-30 11844582 core:ShareCapitalOrdinaryShareClass1 2024-06-30 11844582 core:UKTax 2024-07-01 2025-06-30 11844582 core:UKTax 2023-07-01 2024-06-30 11844582 1 2024-07-01 2025-06-30 11844582 2 2024-07-01 2025-06-30 11844582 3 2024-07-01 2025-06-30 11844582 1 2023-07-01 2024-06-30 11844582 4 2024-07-01 2025-06-30 11844582 2 2023-07-01 2024-06-30 11844582 5 2024-07-01 2025-06-30 11844582 3 2023-07-01 2024-06-30 11844582 core:CurrentFinancialInstruments 2025-06-30 11844582 core:CurrentFinancialInstruments 2024-06-30 11844582 bus:OrdinaryShareClass1 2024-07-01 2025-06-30 11844582 bus:OrdinaryShareClass1 2025-06-30 11844582 bus:OrdinaryShareClass1 2024-06-30 11844582 core:WithinOneYear 2025-06-30 11844582 core:WithinOneYear 2024-06-30 11844582 bus:PrivateLimitedCompanyLtd 2024-07-01 2025-06-30 11844582 bus:FRS102 2024-07-01 2025-06-30 11844582 bus:Audited 2024-07-01 2025-06-30 11844582 bus:FullAccounts 2024-07-01 2025-06-30 xbrli:pure xbrli:shares iso4217:GBP