Element Pictures Seance Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 13686074

Element Pictures Seance Limited

Filleted Financial Statements

Formerly known as element pictures UK holdings two limited

1 May 2026

Element Pictures Seance Limited

Statement of Financial Position

1 May 2026

	1 May 26	31 Dec 24
Note	£	£

Current assets

Debtors	6	5,130,743	2
Cash at bank and in hand		1,639,561	–
		------------	----
		6,770,304	2

Creditors: amounts falling due within one year	7	( 6,770,302)	–
		------------	----
Net current assets		2	2
		----	----
Total assets less current liabilities		2	2
		----	----
Net assets		2	2
		----	----

Capital and reserves

Called up share capital	2	2
	----	----
Shareholders funds	2	2
	----	----

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

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 were approved by the board of directors and authorised for issue on 30 September 2026 , and are signed on behalf of the board by:

A Lowe

Director

Company registration number: 13686074

Element Pictures Seance Limited

Notes to the Financial Statements

Period from 1 January 2025 to 1 May 2026

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 23-25 Eastcastle Street, London, W1W 8DF, England.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

Going concern

The Company will no longer be struck off as it has been repurposed into a production company. Therefore the company will remain open in order to complete the development and production of the film entitled 'Séance on a Wet Afternoon'. As such, the accounts are prepared on a going concern basis.

Significant estimation technique adopted

Accruals are estimated by reference to purchase orders raised at the period end and estimates to complete. Payments received on account are estimated by reference to percentage of completion of the film production, as noted in "Revenue Recognition" below.

Comparatives

The accounts cover the period from 01 January 2025 to 01 May 2026. The comparatives cover the year from 01 January 2024 to 31 December 2024, hence the amounts are not entirely comparable.

The accounting period has been extended to ensure that the accounting period and expenditure credit claim is conterminous.

Disclosure exemptions

The entity satisfies the criteria of being a qualifying small entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under section 1A of FRS 102: (a) No cash flow statement has been presented for the company. (b) Disclosures in respect of financial instruments have not been presented.

Revenue recognition

Turnover relates to the production of the film entitled "Séance on a Wet Afternoon". It represents the value of the work done in the period, including estimates of amounts not invoiced and is stated after trade discounts, other taxes and net of VAT. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Financial instruments

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 entity after deducting all of its financial liabilities. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Intra-group borrowings are debt instruments and are initially measured at present value of the future cash flows and subsequently at amortised cost using an effective interest method.

4. Employees

The company has been incorporated to produce a film called "Séance on a Wet Afternoon". In common with the film and television industry the crew are hired on short term contracts for the duration of principal photography and are self-employed.

None of the Directors received any form of remuneration.

5. Tax on profit

Major components of tax expense

	Period from
	1 Jan 25 to	Year to
	1 May 26	31 Dec 24
	£	£

Current tax:

UK current tax expense	942,288	–
	---------	----
Tax on profit	942,288	–
	---------	----

Reconciliation of tax expense

The tax assessed on the profit on ordinary activities for the period is higher than (2024: the same as) the standard rate of corporation tax in the UK of 25 % (2024: 25 %).

	Period from
	1 Jan 25 to	Year to
	1 May 26	31 Dec 24
	£	£
Profit on ordinary activities before taxation	942,288	–
	---------	----
IFTC	942,288	–
	---------	----

6. Debtors

	1 May 26	31 Dec 24
	£	£
Amounts owed by group undertakings	–	2
Prepayments and accrued income	2,230,962	–
VAT Recoverable	26,681	–
Corporation Tax Recoverable	2,826,863	–
Other debtors	46,237	–
	------------	----
	5,130,743	2
	------------	----

7. Creditors: amounts falling due within one year

	1 May 26	31 Dec 24
	£	£
Trade creditors	74,820	–
Accruals and deferred income	128,893	–
Social security and other taxes	2,571	–
Production Loans	6,564,018	–
	------------	----
	6,770,302	–
	------------	----

The advance has been secured against the anticipated future independent film tax credit.

8. Contingent liabilities

Charges have been made against the film in favour of the following parties to secure their interests in the copyright of and title to the film: East West Bank Fremantlemedia Limited FILM4, A division of Channel Four Television Company Limited

9. Summary audit opinion

The auditor's report dated 30 September 2026 was unqualified .

The senior statutory auditor was Stephen Joberns , for and on behalf of Moore Kingston Smith LLP .

10. Related party transactions

All related party transactions related to the production of the film "Séance on a Wet Afternoon" and arose on an arm's length basis through the normal course of business. No transactions with related parties were undertaken such as are required to be disclosed under FRS 102.

11. Controlling party

In the opinion of the directors the immediate parent undertaking is FremantleMedia Group Limited, a company incorporated in England and Wales. The smallest group to consolidate these financial statements is RTL Group S.A., a Company registered in Luxembourg. Copies of the RTL Group S.A. Annual Report can be obtained from the General Counsel at RTL Group S.A., 43 Boulevard Pierre Frieden, L-1543 Luxembourg. The ultimate parent undertaking and controlling party is Bertelsmann SE & Co.KGaA, a Company registered in Germany, which is the largest group to consolidate these accounts. Copies of the Bertelsmann SE & Co.KGaA accounts can be obtained from the General Counsel at Bertelsmann SE & Co.KGaA, Carl Bertelsmann Straße 270, 33311 Gütersloh, Germany.