Company Registration No. 12014871 (England and Wales)
Haversack Films Limited
Unaudited financial statements
for the period ended 31 December 2025
Pages for filing with the registrar
Haversack Films Limited
Contents
Page
Statement of financial position
1
Notes to the financial statements
2 - 5
Haversack Films Limited
Statement of financial position
As at 31 December 2025
1
31 December 2025
30 June 2025
Notes
£
£
£
£
Current assets
Debtors
4
356,504
366,680
Cash at bank and in hand
1
758
356,505
367,438
Creditors: amounts falling due within one year
5
(159,205)
(155,138)
Net current assets
197,300
212,300
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
197,298
212,298
Total equity
197,300
212,300

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

For the financial period ended 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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.

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

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

The financial statements were approved by the board of directors and authorised for issue on 14 August 2026 and are signed on its behalf by:
Iain Canning
Director
Company Registration No. 12014871
Haversack Films Limited
Notes to the financial statements
For the period ended 31 December 2025
2
1
Accounting policies
Company information

Haversack 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 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 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.

1.2
Going concern

The company balance sheet shows net assets of £197,300 as at 31 December 2025. The directors have pledged to support the company for 12 months from the date of their approval of these financial statements. Given the net asset position and this support, the directors consider it appropriate to prepare the financial statements on a going concern basis.true

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 contract for on-going services is determined by reference to 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.

Haversack Films Limited
Notes to the financial statements (continued)
For the period ended 31 December 2025
1
Accounting policies (continued)
3
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.

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. D ividends 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 recoverable 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 exclude 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 tax position is calculated using tax rates that have been enacted or substantively enacted by the reporting date.

1.8
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end 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 in the period are included in profit or loss.

Haversack Films Limited
Notes to the financial statements (continued)
For the period ended 31 December 2025
4
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
Employees

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

Period ended
Year ended
31 December
30 June
2025
2025
Number
Number
Total
0
0
4
Debtors
31 December
30 June
2025
2025
Amounts falling due within one year:
£
£
Corporation tax recoverable
197,040
205,141
Amounts owed by group undertakings
159,464
159,701
Other debtors
-
0
1,838
356,504
366,680
5
Creditors: amounts falling due within one year
31 December
30 June
2025
2025
£
£
Trade creditors
-
0
600
Other creditors
159,200
154,537
159,200
155,137
Haversack Films Limited
Notes to the financial statements (continued)
For the period ended 31 December 2025
5
6
Charges

The company currently has 1 outstanding charge:

Warner Bros Entertainment Inc holds a fixed and floating charge over all present and future property acquired for or used in connection with the film, the company's rights, title and interest in and to the copyright and other rights in and to the film, and all of the company's assets in relation to the film.

7
Parent company

At the balance sheet date the company was jointly controlled by See-Saw Films Limited (a company registered in England & Wales) and Operation Mincemeat, LLC (a company registered in the United Stated of America).

8
Related party transactions
During the year the company had the following transactions and balances with related parties:
2025
£
Balance due from See-Saw Films Ltd as at 1 July 2025
159,701
Payments made to See-Saw Films Ltd
-
Payments received from See-Saw Films Ltd
(237)
Balance due from See-Saw Films Ltd as at 31 December 2025
159,464
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