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REGISTERED NUMBER: 14484499 (England and Wales)








Financial Statements

for the Period 15 November 2022 to 31 December 2023

for

Wheelhouse Media UK Limited

Wheelhouse Media UK Limited (Registered number: 14484499)

Contents of the Financial Statements
for the Period 15 November 2022 to 31 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Wheelhouse Media UK Limited

Company Information
for the Period 15 November 2022 to 31 December 2023







DIRECTOR: A G Hugill





REGISTERED OFFICE: St Johns House
16 Church Street
Bromsgrove
Worcestershire
B61 8DN





REGISTERED NUMBER: 14484499 (England and Wales)





AUDITORS: Clay GBP Ltd
St Johns House
16 Church Street
Bromsgrove
Worcestershire
B61 8DN

Wheelhouse Media UK Limited (Registered number: 14484499)

Balance Sheet
31 December 2023

Notes £    £   
FIXED ASSETS
Tangible assets 4 8,680

CURRENT ASSETS
Debtors 5 33,116
Cash at bank 23,396
56,512
CREDITORS
Amounts falling due within one year 6 11,283
NET CURRENT ASSETS 45,229
TOTAL ASSETS LESS CURRENT LIABILITIES 53,909

CAPITAL AND RESERVES
Called up share capital 8 100
Other reserves 857,202
Retained earnings (803,393 )
SHAREHOLDERS' FUNDS 53,909

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 director and authorised for issue on 4 October 2024 and were signed by:





A G Hugill - Director


Wheelhouse Media UK Limited (Registered number: 14484499)

Notes to the Financial Statements
for the Period 15 November 2022 to 31 December 2023


1. STATUTORY INFORMATION

Wheelhouse Media UK Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Going concern
The financial statements have been prepared on the going concern basis. The validity of this assumption depends on the continued financial support provided by Wheelhouse Group LLC. Wheelhouse Group LLC have confirmed their intention to continue to provide such support that the company requires for it to remain a going concern for the foreseeable future via a letter of support.

Related party exemption
The company has taken advantage of the exemption conferred within FRS102 section 33.1A not to disclose transactions between wholly owned members of the same group.

Turnover
Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company's activities. Turnover is shown net of value added tax, sales returns, rebates and discounts.

Revenue is recognised on the provision of services. Where not all services have been rendered, revenue is recognised based upon the period lapsed compared with total period of the project.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost

Wheelhouse Media UK Limited (Registered number: 14484499)

Notes to the Financial Statements - continued
for the Period 15 November 2022 to 31 December 2023


2. ACCOUNTING POLICIES - continued

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of a company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as an interest expense in the income statement.

Financial assets and liabilities
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs).

Trade debtors
Trade debtors are recognised initially at transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivable.

Trade creditors
Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as amounts falling due after more than one year.

Equity instruments
Equity instruments are measured at the fair value of the cash or other resources transferred or transferrable, net of the direct costs of issuing or receiving the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Taxation
Taxation for the period 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 period 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.

Wheelhouse Media UK Limited (Registered number: 14484499)

Notes to the Financial Statements - continued
for the Period 15 November 2022 to 31 December 2023


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Cash at bank and in hand
Cash and cash equivalents include cash in hand, deposits held at call with banks and other short-term liquid investments with original maturities of twelve months or less.

Employment benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 4 .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
Additions 11,573
At 31 December 2023 11,573
DEPRECIATION
Charge for period 2,893
At 31 December 2023 2,893
NET BOOK VALUE
At 31 December 2023 8,680

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Other debtors 33,116

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade creditors 8,191
Other creditors 3,092
11,283

Wheelhouse Media UK Limited (Registered number: 14484499)

Notes to the Financial Statements - continued
for the Period 15 November 2022 to 31 December 2023


7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
£   
Between one and five years 79,472

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal
value: £   
100 Ordinary £1 100

100 Ordinary shares of £1 each were allotted and fully paid for cash at par during the period.

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Robert Kempson ACA (Senior Statutory Auditor)
for and on behalf of Clay GBP Ltd

10. ULTIMATE CONTROLLING PARTY

The parent company is Wheelhouse Studios LLC, a company incorporated in the United States of America. The director consider the ultimate controlling party to be Wheelhouse Holdings LLC, a company incorporated in the United States of America.

11. CAPITAL CONTRIBUTION

During the period a capital contribution of £857,202 by the shareholder has been recognised directly in equity within retained earnings