Registration number: 08544610

Three River Studios Limited

Contents

Company Information	1
Statement of Financial Position	2 to 3
Notes to the Financial Statements	4 to 9

Three River Studios Limited

Company Information

Directors

J J W Drake S C Curran

Company secretary

E M Drake

Registered office

24 Lady Place Sutton Courtenay Abingdon OX14 4FB

Accountants

Brebners Chartered Accountants 130 Shaftesbury Avenue London W1D 5AR

Three River Studios Limited

Statement of Financial Position as at 31 May 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	5	590	649
Investments	6	40,741	40,741
		41,331	41,390
Current assets
Stocks	7	2,015,640	2,026,003
Debtors	8	227,624	338,553
Cash at bank and in hand		85,709	327,897
		2,328,973	2,692,453
Creditors: Amounts falling due within one year	9	(2,297,603)	(2,590,355)
Net current assets		31,370	102,098
Total assets less current liabilities		72,701	143,488
Creditors: Amounts falling due after more than one year	9	-	(40,000)
Net assets		72,701	103,488
Capital and reserves
Called up share capital		200	200
Retained earnings		72,501	103,288
Shareholders' funds		72,701	103,488

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

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

The directors of Three River Studios Limited have elected not to include a copy of the Income Statement within the financial statements, in accordance with the special provisions relating to companies subject to the small companies regime within the Companies Act 2006, s444.

Three River Studios Limited

Statement of Financial Position as at 31 May 2025

Approved and authorised by the Board on 29 May 2026 and signed on its behalf by:
 

.........................................

J J W Drake

Director

Company registration number: 08544610

Three River Studios Limited

Notes to the Financial Statements for the Year Ended 31 May 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
24 Lady Place
Sutton Courtenay
Abingdon
OX14 4FB

The principal activity of the company is that of the production and distribution of television programmes.

2	Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' Section 1A and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Summary of significant accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Group accounts not prepared

The entity has taken advantage of the option not to prepare consolidated financial statements contained in Section 399 of the Companies Act 2006 on the basis that the entity and its subsidiary undertakings comprise a small group. Therefore the accounts show information about the company as an individual entity.

Going concern

The company made a profit for the year ended 31 May 2025 and had net assets at that date of £72,701.

The company has a library of previous productions that the directors anticipate continuing to earn significant sums, and it continues to generate revenue from new work, entering significant new multi-series agreements. With the resources that the company has, together with the current actions being taken, the directors consider the company has sufficient working capital.

On the basis of the above, and after making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.

Three River Studios Limited

Notes to the Financial Statements for the Year Ended 31 May 2025

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company's activities. Turnover is shown net of sales/value added tax, rebates and discounts.

The company recognises turnover from production and distribution of television programmes based upon the contractual stage of completion once the company has an unconditional right to economic benefit. The company recognises management fees and royalties based upon the period to which they relate.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Fixtures and fittings and equipment	33% reducing balance

Investments

Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Three River Studios Limited

Notes to the Financial Statements for the Year Ended 31 May 2025

Stocks

Stocks comprises the costs of acquiring or developing rights to television programmes. Stock is written off to profit or loss as programs are recouped or sold. Where stock is impaired, the carrying amount is reduced to realisable value, with impaired loss recognised immediately on profit or loss.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company during the year, was 2 (2024 - 2).

4	Profit before tax

Arrived at after charging/(crediting)

	2025 £	2024 £
Depreciation expense	291	336
Foreign exchange gains/losses	5,991	9,365

Three River Studios Limited

Notes to the Financial Statements for the Year Ended 31 May 2025

5	Tangible assets

	Fixtures, fittings and equipment £	Total £
Cost
At 1 June 2024	3,796	3,796
Additions	232	232
At 31 May 2025	4,028	4,028
Depreciation
At 1 June 2024	3,147	3,147
Charge for the year	291	291
At 31 May 2025	3,438	3,438
Carrying amount
At 31 May 2025	590	590
At 31 May 2024	649	649

6	Investments

	2025 £	2024 £
Investments in subsidiaries	40,741	40,741