ELLIPSIS ENTERTAINMENT LTD

• ⚠

  Material uncertainty over going concern

  The group is in a net current liability position at the reporting date and is currently in default under the terms of its bank loan facility although the bank, whilst reserving its rights, has agreed to take no action at this time. Since the year end the Directors have continued to raise funds to support the business principally through the issue of short term convertible loan notes. Cashflow forecasts prepared by the Directors make certain assumptions as to revenue growth and a current £10m fundraise which is required to meet the immediate cashflow requirements of the Group and of the Company and to support investment in future productions. If the planned raise is not successful or the timing of completion of the raise extends beyond the end of June 2026 the group would need to undergo significant restructuring or the rescheduling of its liabilities to continue to trade. The inherent uncertainty around the sum which will be raised and the timing of completion of that raise, along with future revenue assumptions and other matters set forth in Note 1.4, indicate that a material uncertainty exists that may cast a significant doubt on the ability of the company and group 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

  -8.9%

  £6,726,775 → £6,129,707

• Cash

  +105.7%

  £118,117 → £242,979

• Net assets

  +110.1%

  -£3,953,733 → £400,779

  first positive since 2024

• Employees

  +16.1%

  87 → 101

  highest in 5 filed years

• Operating profit

  -6.9%

  -£3,312,278 → -£3,539,360

• Profit before tax

  +52.6%

  -£10,164,886 → -£4,816,803

• Wages

  -0.4%

  £2,922,536 → £2,910,598

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. ELLIPSIS ENTERTAINMENT LTD 2017-04-07 → present
2. ELLIPSES ENTERTAINMENT LTD 2017-04-05 → 2017-04-07

Accounting basis

FRS 102 §1A

Reporting scope

Consolidated group

Abridged

Yes — abridged accounts (limited disclosure)

Auditor

Moore Kingston Smith LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“The group is in a net current liability position at the reporting date and is currently in default under the terms of its bank loan facility although the bank, whilst reserving its rights, has agreed to take no action at this time. Since the year end the Directors have continued to raise funds to support the business principally through the issue of short term convertible loan notes. Cashflow forecasts prepared by the Directors make certain assumptions as to revenue growth and a current £10m fundraise which is required to meet the immediate cashflow requirements of the Group and of the Company and to support investment in future productions. If the planned raise is not successful or the timing of completion of the raise extends beyond the end of June 2026 the group would need to undergo significant restructuring or the rescheduling of its liabilities to continue to trade. The inherent uncertainty around the sum which will be raised and the timing of completion of that raise, along with future revenue assumptions and other matters set forth in Note 1.4, indicate that a material uncertainty exists that may cast a significant doubt on the ability of the company and group to continue as a going concern. Our opinion is not modified in respect of this matter.”

Group structure

1. ELLIPSIS ENTERTAINMENT LTD · parent
   1. Gunpowder Immersive Limited 100% · England and Wales
   2. Rex Immersive Limited 99% · England and Wales

Significant events

• “Subsequent to the period end, Elvis Evolution opened on 17 July 2025 to strong initial ticket sales and revenue, reflecting the presale activity achieved ahead of its launch. Following mixed initial public feedback, the Directors undertook a detailed review of the production. The show was reworked and relaunched in November 2025, following which audience feedback has improved materially.”
• “Subsequent to the period end, The War of the Worlds was awarded the Guinness World Record for the longest theatrical run of a musical immersive theatre production”
• “The group's production of 'The Gunpowder Plot: Immersive Experience' closed on 28 February 2025. The group is in dispute with its landlord at the former venue with both parties to the lease and related agreements claiming breach and/or failure to perform against the other.”

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

Filings

9

last 12 months

Capital events

10

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.