For the financial period ended 30 November 2025 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 period in question in accordance with section 476.

The director acknowledges his 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 director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

Flying Elephant Productions Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 3, Ashby Space, Ashby Mews, London, United Kingdom, SE4 1TB.

The financial statements cover the 12 month period from 31st May 2024 to 30th November 2025.

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 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.

As at the reporting date, the production is ongoing and has not yet been completed. Accordingly, the company has not generated any income from sales of the production and has incurred production-related costs only.true

The company continues to be funded through investor contributions structured as recoupable loans. Under the terms of the investment agreements, these loans are only repayable from future net receipts arising from sale of the production. In the event that the production does not generate net receipts sufficient to recoup the funding, the investors are not entitled to repayment.

On this basis, the directors are satisfied that the company has adequate resources to continue in operational existence and it is able to meet its liabilities as they fall due for at least 12 months from the signing of the financial statements. Therefore, it is considered appropriate to prepare the financial statements on a going concern basis.

The nature, timing of satisfaction of performance obligations and significant payment terms of the company's major sources of revenue are as follows:

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 only basic financial instruments measured at amortised cost, with no financial instruments classified as other, or financial instruments measured at fair value.

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 tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. 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 carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

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.

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

Flying Elephant Productions Limited has taken the exemption to disclose related party transactions under the same 100% control in accordance with FRS102 - Section 33 "Related Party Disclosures" paragraph 33.7.

During the year, the company made purchases of £87,000 (2024:£29,000) from Oddo Films Limited, a related party by virtue of common directorship. At the year end, there was a balance of £34,800 (2024:£nil) owed to Oddo Films Limited

The immediate parent company is Grain Media Limited, a company incorporated in England and Wales. The ultimate parent company is Grain Media Holding Limited, a company incorporated in England and Wales.

The ultimate controlling party is O Graf Von Einsiedel by virtue of his majority shareholding in the ultimate parent company.