REGISTERED NUMBER: 03113827 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025

FOR

TRUE VISION PRODUCTIONS LIMITED

Page

Balance Sheet

1

Notes to the Financial Statements

2

FIXED ASSETS

Tangible assets

4

39,347

58,065

CURRENT ASSETS

Stocks

32,690

481,150

Debtors

5

537,901

69,289

Cash at bank and in hand

221,761

577,811

792,352

1,128,250

CREDITORS

Amounts falling due within one year

6

366,864

1,146,038

NET CURRENT ASSETS/(LIABILITIES)

425,488

(17,788

)

TOTAL ASSETS LESS CURRENT LIABILITIES

464,835

40,277

PROVISIONS FOR LIABILITIES

9,837

-

NET ASSETS

454,998

40,277

CAPITAL AND RESERVES

Called up share capital

7

120

120

Retained earnings

454,878

40,157

SHAREHOLDERS' FUNDS

454,998

40,277

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 October 2026 and were signed on its behalf by:

B J Edwards - Director

1.	STATUTORY INFORMATION

True Vision Productions Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

03113827

Registered office:

18 Glasshouse Studios

Fryern Court Road

Fordingbridge

Hampshire

SP6 1QX

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue received or receivable for work carried out in producing television programmes is recognised upon delivery when the significant risks and rewards of ownership have been transferred to the buyer; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably. Revenue not meeting these conditions is deferred on the balance sheet.

Tangible assets

Tangible assets are recorded at cost less accumulated depreciation. Depreciation is calculated so as to write off the cost of fixed assets, less their estimated residual values, over the expected useful economic lives of the assets concerned. The principal annual rates used for this purpose are as follows:

Plant and machinery etc

25% on reducing balance

Stocks and work in progress

Stocks and work in progress are valued at the lower of cost and net realisable value. Net realisable value is based on estimated selling price less any further costs expected to be incurred to completion.

Production costs are recognised in work in progress until programmes are delivered and as a cost of sale as soon as programmes are delivered and related production revenues are recognised.

Development costs are written off in the year in which they are incurred except where they relate to a clearly defined contract, the outcome of which has been assessed with reasonable certainty as to its success and commercial viability. In such cases the expenditure is recognised as work in progress to the extent that its recovery can be reasonably regarded as assured and the cost is written off against revenue over the period of the contract. The costs of abortive productions are taken directly to profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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 transaction. Exchange differences are taken into account in arriving at the operating result.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2024 - 6 ) .

4.	TANGIBLE ASSETS

Plant and

machinery

etc

£

COST

At 1 November 2024

372,828

Additions

1,616

At 31 October 2025

374,444

DEPRECIATION

At 1 November 2024

314,763

Charge for year

20,334

At 31 October 2025

335,097

NET BOOK VALUE

At 31 October 2025

39,347

At 31 October 2024

58,065

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

390,048

5,224

Other debtors

147,853

64,065

537,901

69,289

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

31,977

32,382

Taxation and social security

176,655

38,236

Other creditors

158,232

1,075,420

366,864

1,146,038

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

60

Ordinary A

£1

60

60

48

Ordinary B

£1

48

48

6

Ordinary C

£1

6

6

6

Ordinary D

£1

6

6

120

120

8.	PENSION COMMITMENTS

At the balance sheet date, included in other creditors falling due within one year are unpaid contributions of £1,007 (2024 - £677) due to a defined contribution pension scheme.

9.	OTHER FINANCIAL COMMITMENTS

At the balance sheet date, the company had total financial commitments which are not included in the balance sheet of £20,000 (2024 - £48,800).

10.	RELATED PARTY DISCLOSURES