CINESITE VFX LIMITED

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

  -49.3%

  £15,307,215 → £7,765,962

• Cash

  -100%

  £8,056,299 → £0

• Net assets

  -22%

  £5,521,911 → £4,306,303

• Employees

  -27.8%

  198 → 143

• Operating profit

  -4,618.4%

  £47,510 → -£2,146,685

• Profit before tax

  -381.7%

  -£250,935 → -£1,208,696

• Wages

  -28.8%

  £11,716,072 → £8,337,422

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

Margins divide P&L lines by turnover. 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.

1. CINESITE VFX LIMITED 2013-04-26 → present
2. COMINO MEDIA (UK) LIMITED 2013-04-17 → 2013-04-26

Accounting basis

FRS 102

Reporting scope

Standalone (parent only)

Auditor

Saffery LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.”

Significant events

• “The company reported a fall in sales due to the difficult industry conditions caused by the writers' and actors' strikes in Hollywood. The strikes have now finished, however the industry has still not recovered back to pre-strike levels of available projects. During the financial year, the company continued to invest in the growing immersive market adding a fully dedicated immersive team and winning awards in the immersive market.”
• “The FY25 period continued to be affected by the significant disruptions caused by the writers' and actors' strikes, which ended in the third quarter of FY24, signalling the beginning of industry recovery. Following these strikes the industry remained unsettled due to ongoing negotiations with International Alliance of Theatrical Stage Employees (IATSE) that were only settled in July 2024. While these industry-wide challenges created time lags that have continued to impact our operations in FY25, our ability to adapt and innovate has been critical to maintaining resilience.”
• “As a material non-adjusting subsequent event occurring after the balance sheet date, the Board is pleased to confirm that a comprehensive financial restructuring has been successfully agreed upon with the lenders and the ultimate parent Company's Shareholders. This recapitalisation of the Group involves a refinancing of £154m, including securing £33m new funding facilities from lenders and shareholders, refinancing £44m of lender debt and an improvement of £77m in shareholders' funds.”
• “The Company ends up with £63m of debt at closing, with a £5m revolving credit facility and uncommitted further financing of £9m. This agreement fundamentally strengthens the Group's financial position by substantially reducing leverage and increasing the equity base, providing the robust balance sheet and enhanced financial flexibility necessary to support our strategic growth objective.”

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

Filings

5

last 12 months

Capital events

0

last 24 months

Officers appointed

1

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.