ACCOUNTS - Final Accounts preparation

Registered number: 12335124

EXPLORER PICTURES LTD

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 28 FEBRUARY 2026

EXPLORER PICTURES LTD

REGISTERED NUMBER: 12335124

STATEMENT OF FINANCIAL POSITION

AS AT 28 FEBRUARY 2026

	2026	2026	2025	2025
Note	£	£	£	£


Current assets
Debtors: amounts falling due within one year	4	74,976		92
Cash at bank and in hand		8,232		2,805
		83,208		2,897
Creditors: amounts falling due within one year	5	(83,207)		(2,896)
Net current assets			1		1

Net assets			1		1

Capital and reserves
Called up share capital	1	1
	1	1

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

G Chignell

Director

Date: 12 August 2026

The notes on pages 2 to 3 form part of these financial statements.

Page 1

EXPLORER PICTURES LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2026

1.	General information

Explorer Pictures Ltd is a private company limited by shares incorporated in the United Kingdom and registered in England and Wales. The address of its registered office is 127 Hamilton Road, London, SE27 9SE.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 company's functional and presentational currency is GBP.

The following principal accounting policies have been applied:

2.2

Revenue

Turnover in the Statement of comprehensive income relates to amounts earned in relation to film production and distribution.
Production funding is recognised in the Statement of comprehensive income over the period of the production. Where production funds received exceed costs incurred to date, the balance is treated as deferred income and held on the Statement of financial position until further costs are incurred. At that point the deferred income is released to the Statement of comprehensive income.

2.3

Cost of sales

Production costs incurred in producing a film are recognised in the Statement of comprehensive income as cost of sales in the period in which they are incurred.

2.4

Taxation

Tax is recognised in profit or loss and represents the notional tax charge levied on the Audio-visual Expenditure Credit.
The company is eligible to claim an Audio-visual Expenditure Credit on film production costs. The credit comprises relief based on total net costs and an additional deduction for enhanceable expenditure. The company claims a payment based on the amount of enhanced expenditure and carries losses arising from total net costs forward against future profits.

2.5

Debtors

Short term debtors are measured at the transaction price, less any impairment.

2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

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EXPLORER PICTURES LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2026

2.Accounting policies (continued)

2.7

Creditors

Short term creditors are measured at the transaction price.

2.8

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like other debtors and creditors.

Employees

The average monthly number of employees, including directors, during the year was 2 (2025 - 2).

Debtors

					2026	2025
					£	£


Other debtors	6,931	92
Prepayments and accrued income	41,467	-
Tax recoverable	26,578	-
	74,976	92

5.	Creditors: Amounts falling due within one year
		2026	2025
		£	£

Trade creditors	61,208	-
Other taxation and social security	-	2,445
Other creditors	17,999	-
Accruals and deferred income	4,000	451
	83,207	2,896

6.	Related party transactions
	The company has received a loan from a company under the control of one of the directors, which is interest-free and repayable on demand. At the reporting date £17,999 was owed by the company.

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