REGISTERED NUMBER: 07279440 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

FOR

MAGIC MASK PICTURES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

I C Powell

REGISTERED OFFICE:

39 Haggerston Studios

284-288 Kingsland Road

London

E8 4DN

REGISTERED NUMBER:

07279440 (England and Wales)

ACCOUNTANTS:

Raffan and Golding

Chartered Accountants &

Chartered Tax Advisers

17 Short's Gardens

London

WC2H 9AT

CURRENT ASSETS

Debtors

4

12,741

13,243

Cash at bank

7,034

8,336

19,775

21,579

CREDITORS

Amounts falling due within one year

5

66,328

67,058

NET CURRENT LIABILITIES

(46,553

)

(45,479

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(46,553

)

(45,479

)

CREDITORS

Amounts falling due after more than one year

6

324

729

NET LIABILITIES

(46,877

)

(46,208

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(46,977

)

(46,308

)

SHAREHOLDERS' FUNDS

(46,877

)

(46,208

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 May 2026 and were signed by:

I C Powell - Director

1.	STATUTORY INFORMATION

Magic Mask Pictures Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Government grants

The company accounts for Film Tax Credits as a government grant under IAS20, recording the estimated value of the credit as other operating income in the year the film production costs were incurred.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2024 - 1 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other debtors

12,741

13,243

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

426

408

Amounts owed to group undertakings

27,935

28,299

Other creditors

37,967

38,351

66,328

67,058

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

324

729

7.	DEFERRED TAX

£

Balance at 1 September 2024

(13,243

)

Charge to Income Statement during year

502

Balance at 31 August 2025

(12,741

)

8.	RELATED PARTY DISCLOSURES

Corolo Film & Video Limited

Ultimate Holding Company

Purchase of film rights, Seeing Heaven, at cost.

2025

2024

£

£

Amount due to related party at the balance sheet date

27,935

28,299

I C Powell

Company Director

Unpaid sundry expenses on behalf of the company.

2025

2024

£

£

Amount due to related party at the balance sheet date

37,573

37,987

9.	ULTIMATE CONTROLLING PARTY

The Director regards the ultimate holding company to be Corolo Film & Video Limited, a company registered in England. This company holds 75% of the share capital of Magic Mask Pictures Ltd. The company relies on the continued support of its holding company and the director.