For the financial year ended 30 April 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

Faraway Home Productions Limited is a private company limited by shares incorporated in Northern Ireland. The registered office is 141 Huntly Road, Huntly Road, Banbridge, BT32 3UA.

The directors have decided to shorten the company's period end to 6 months starting from the 1st November 2025 to 30th April 2026. The reason being is to align the company's period end with the end of post-production. The prior accounting period covers a period of 12 months, from 1st November 2024 to 31st October 2025. As a result, the comparative information is not directly comparable.

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 amounts 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.

Film production costs comprise the production costs for the motion pictures 'Faraway Home'. The cost will be amortised to the income statement when the production is complete, and all risk, and reward of the production have transferred to the distributing company potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

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.

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, which include debtors and cash and bank balances, 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.

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, including creditors, 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 payments 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. Amounts 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.

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.

The tax expense represents the sum of the notional tax payable on the gross amount of the Audio-Visual Expenditure Credit.

The notional tax payable is based on taxable income receivable under the U.K. creative industry Audio Visual Expenditure Credit. Taxable profit differs from net profit as reported in the profit and loss account 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.

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

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.

Audio Visual Expenditure Credit treated as 'Other Operating Income’

The company is engaged in producing motion picture feature film and has claimed expenditure under the government's Audio-Visual Expenditure Credit scheme. These credits are classified as above-the-line credits and are therefore included within 'Other Operating Income' on the face of the profit and loss account. The expenditure credit is calculated based on the core costs incurred by the production on eligible spending during the accounting period.

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

Within other creditors the company has borrowings of £3,095,848 (2025: £3,600,854), which are secured by means of a fixed and floating charge and negative pledge over the assets and property of the company.

The company has ten ordinary shares with a nominal value of £1. These shares carry equal voting, dividend and distribution rights.

Included within other creditors is a production investment of £2,634,836 (2025: £2,049,538), representing amounts invested in the production, which are repayable in accordance with the film’s recoupment schedule. In addition to this liability, there are potential premiums payable based on future income. The amount and timing of these future payments cannot be determined at this stage as they are contingent on future income which cannot yet be substantiated.

During the year the company entered into the following transactions with related parties:

The following amounts were outstanding at the reporting end date:

The company is a wholly owned subsidiary of Powerscourt Pictures Ltd, a company incorporated in Northern Ireland. Its registered address is 141 Huntly Road, Banbridge, Co. Down, Northern Ireland, BT32 3UA. Their financial statements are publicly available on companies house.