DSP Drama Limited Filleted accounts for Companies House (small and micro)

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COMPANY REGISTRATION NUMBER: 09653665

DSP Drama Limited

Filleted Financial Statements

30 November 2019

DSP Drama Limited

Directors' Responsibilities Statement

Year ended 30 November 2019

The directors are responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations. Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period. In preparing these financial statements, the directors are required to: - select suitable accounting policies and then apply them consistently; - make judgments and accounting estimates that are reasonable and prudent; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

DSP Drama Limited

Balance Sheet

30 November 2019

	2019	2018
Note	£	£

Current assets

Debtors	5	15,193	14,796
Cash at bank and in hand		43	470
		--------	--------
		15,236	15,266
		--------	--------
Net current assets		15,236	15,266
		--------	--------
Total assets less current liabilities		15,236	15,266
		--------	--------

Capital and reserves

Called up share capital	6	1	1
Profit and loss account		15,235	15,265
		--------	--------
Shareholders funds		15,236	15,266
		--------	--------

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 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 profit & loss account has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 30 November 2020 , and are signed on behalf of the board by:

D O'Gara

Director

Company registration number: 09653665

DSP Drama Limited

Notes to the Financial Statements

Year ended 30 November 2019

1. General information

DSP Drama Limited 's principal activity is the development and production of high-end television programmes. The company is a private company limited by shares, registered in England and Wales. The address of the registered office is C/O Endemol UK Legal Department, Shepherds Building Central, Charecroft Way, London, W14 0EE, United Kingdom.

2. Statement of compliance

The financial statements of DSP Drama Limited have been prepared in compliance with United Kingdom Accounting Standards including Section 1A of Financial Reporting Standard 102, "The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland" ("FRS 102") and the Companies Act 2006.

3. Accounting policies

Basis of preparation

The financial statements have been prepared under the historical cost convention. The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The Company will cease to trade during the prior year and as such the financial statements have been prepared on a basis other than going concern. The Company is being wound down and will become dormant in the future.

Financial reporting standard 102 - reduced disclosure exemptions

The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland": the requirements of Section 7 Statement of Cash Flows; the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d). The Company has taken advantage of the aforementioned exemptions under FRS 102 on the grounds that the Company is a qualifying entity as a member of a Group where the consolidated financial statements of its ultimate parent undertaking include a cashflow statement and are publicly available (see note 10).

Judgements and key sources of estimation uncertainty

The Company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The Directors have concluded that no estimates and assumptions applied in the accounting of these financial statements, have a significant risk of causing a material adjustment to the carrying value of assets and liabilities within the next financial year.

Turnover

Turnover relates to the production of the television programmes. 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. The value of work done in relation to long-term contracts and continuing services is determined by reference to the stage of completion of the relevant project.

Taxation

Current tax, including UK corporation tax and foreign tax, is provided at amounts expected to be paid (or recovered) using the rates and laws that have been enacted or substantively enacted by the balance sheet date.

Financial instruments

A financial asset or liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. 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 the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measure 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. Operating profit/(loss)

The auditors' remuneration for the year is £1,600 (2018: £1,500) and has been paid by the parent company Darlow Smithson Productions Limited and is included in its financial statements.

There were no employees during the year (2018: none).

5. Debtors

	2019	2018
	£	£
Amounts owed by group undertakings	15,193	14,796
	--------	--------

Amounts owed by fellow group undertakings are interest free and repayable on demand.

6. Called up share capital

Issued, called up and fully paid

	2019		2018
	No.	£	No.	£
Ordinary shares of £ 1 each	1	1	1	1
	----	----	----	----

7. Events after the end of the reporting period

On July 2, 2020, The Banijay Group (through its wholly owned subsidiary, Banijay Entertainment) completed the acquisition of all the shares of AP NMT JV Newco B.V. (the indirect parent of DSP Drama Limited after having met all regulatory approvals and closing conditions. We draw attention to the current Covid-19 pandemic and the potential economic impact the virus will have in the coming months. Whilst the Company continues to monitor the potential impact of Covid 19, the directors do not believe that the outbreak has a material impact on the Company given that the production has already been delivered. The outbreak is considered to be a non adjusting event to the financial statements.

8. Summary audit opinion

The auditor's report for the year dated 30 November 2020 was unqualified.

The senior statutory auditor was Stephen Joberns , for and on behalf of Shipleys LLP .

9. Related party transactions

As a wholly-owned subsidiary of Darlow Smithson Productions Limited and ultimately AP NMT JV Newco B.V. (note 10), whose financial statements are publicly available, the Company has taken advantage of the exemption under FRS 102 Paragraph 33.1A on the basis that disclosure need not be given regarding related party transactions with other wholly-owned subsidiaries of the group.

10. Controlling party

The immediate parent undertaking is Darlow Smithson Productions Limited which is incorporated in Great Britain and registered in England and Wales. The smallest group in which the results of the Company are consolidated is that headed by MediArena Acquisition B.V.. Financial statements for MediArena Acquisition B.V. are publicly available and can be obtained from MediArena 1, 1114 BC Amsterdam-Duivendrecht, PO Box 12133, 1100 AC Amsterdam, the Netherlands. The ultimate parent company and the largest group in which the results of the Company are consolidated is AP NMT JV Newco B.V., a company registered in the Netherlands. Financial statements for AP NMT JV Newco B.V. are publicly available and can be obtained from MediArena 1, 1114 BC Amsterdam-Duivendrecht, PO Box 12133, 1100 AC Amsterdam, the Netherlands. AP NMT Coöperatief U.A., an affiliate of funds managed by affiliates of Apollo Global Management, LLC ("Apollo"), owns 50% of the issued and outstanding shares of the Company. 21CF Empire Holdco Coöperatief U.A., an affiliate of The Walt Disney Company ("Disney), owns the remaining 50% of the issued and outstanding shares of the Company. On July 2, 2020 The Banijay Group acquired all of the shares of AP NMT JV Newco B.V.