MERCURY FILM PRODUCTIONS LIMITED

• ⚠

  Material uncertainty over going concern

  The Company's business activities including the impact from the outcome of the tax litigation (as further discussed in note 5), as well as macroeconomic factors such as sustained high interest rates and the cost of living crisis have been reviewed by the Director. Having assessed these risks, the Company's financial position, results of operation and cash flow forecasts, the Director intends to continue operating its business and have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. The going concern basis of accounting is appropriate however there are material uncertainties related to events or conditions that may cast significant doubt upon the Company's ability to continue to adopt the going concern basis of accounting in the future. Material uncertainty related to going concern We draw attention to note 1.2 to the financial statements, which indicates that the Company is dependent on receiving its intercompany receivable amount of £90k from the Group undertaking which is not guaranteed. The Group undertaking is currently expecting to be in a position to repay the intercompany receivable amount to the Company, however, should the legal dispute over the tax liability result in an unfavourable decision, the Group undertaking would likely be unable to repay the intercompany receivable amount to the Company. As stated in note 1.2, these events or conditions indicate that a material uncertainty exists that may cast significant doubt on the company's ability to continue as a going concern. Our opinion is not modified in respect of this matter.

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

• Turnover

  —

  Not reported

• Cash

  —

  Not reported

• Net assets

  -1.3%

  £75,000 → £74,000

  lowest in 6 filed years

• Employees

  —

  Not reported

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers

Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

FRS 102

Reporting scope

Standalone (parent only)

Abridged

Yes — abridged accounts (limited disclosure)

Auditor

BDO LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“The Company's business activities including the impact from the outcome of the tax litigation (as further discussed in note 5), as well as macroeconomic factors such as sustained high interest rates and the cost of living crisis have been reviewed by the Director. Having assessed these risks, the Company's financial position, results of operation and cash flow forecasts, the Director intends to continue operating its business and have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. The going concern basis of accounting is appropriate however there are material uncertainties related to events or conditions that may cast significant doubt upon the Company's ability to continue to adopt the going concern basis of accounting in the future. Material uncertainty related to going concern We draw attention to note 1.2 to the financial statements, which indicates that the Company is dependent on receiving its intercompany receivable amount of £90k from the Group undertaking which is not guaranteed. The Group undertaking is currently expecting to be in a position to repay the intercompany receivable amount to the Company, however, should the legal dispute over the tax liability result in an unfavourable decision, the Group undertaking would likely be unable to repay the intercompany receivable amount to the Company. As stated in note 1.2, these events or conditions indicate that a material uncertainty exists that may cast significant doubt on the company's ability to continue as a going concern. Our opinion is not modified in respect of this matter.”

Significant events

• “In relation to the ongoing tax litigation between the Group and HMRC as disclosed in prior financial statements, a referral back to the First-tier Tribunal took place in September 2024 to determine the asset classification issue.”
• “In a decision released on 12 August 2025, the First-tier Tribunal decided that the asset classification issue had already been determined by an earlier decision. The Company understands that HMRC have been granted permission to appeal the decision from the FTT. We are awaiting further developments on HMRC's appeal.”
• “Post balance sheet events: In relation to the ongoing tax litigation between the Group and HMRC, a referral back to the First-tier Tribunal took place in September 2024 to determine the asset classification issue. In a decision released on 12 August 2025, the First-tier Tribunal decided that the asset classification issue had already been determined by an earlier decision. The Company understands that HMRC have been granted permission to appeal the decision on 11 November 2025, see note 5 Taxation for further detail. The Group is awaiting further developments on HMRC's appeal.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

7

last 12 months

Capital events

0

last 24 months

Officers appointed

0

last 12 months

Officers resigned

0

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.