Lyca Media II Limited

	Page
Company Information	1
Directors' Report	2—3
Independent Auditor's Report	4—7
Profit and Loss Account	8
Balance Sheet	9
Notes to the Financial Statements	10—15

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Company No. 08871311

Directors' Report For The Year Ended 31 December 2023

Directors' Report

The directors present their report and the financial statements for the year ended 31 December 2023.

Principal Activity

The company's principal activity continues to be that of broadcasting division of the mobile phone virtual network company Lycamobile.

The main source of revenue for the company is providing radio broadcasting services.

Directors

The directors who held office during the year were as follows:

Mr Jegatheesan Indraprakash

Mr Aiadurai Premananthan

Statement of Directors' Responsibilities

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 of the profit or loss of the company for that period.

In preparing the 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.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

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Lyca Media II Limited

Directors' Report (continued)

For The Year Ended 31 December 2023

Statement of Disclosure of Information to Auditors

In the case of each director in office at the date the Directors' Report is approved:

so far as the director is aware, there is no relevant audit information of which the company's auditors are unaware; and
they have taken all the steps that they ought to have taken as directors in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information.

Liability Limitation Agreement with Auditor

In accordance with Section 534 of the Companies Act 2006, the company has entered into a liability limitation agreement with its external auditor, Sterling Young Limited

The principal term of the Agreement: The auditor's liability for statutory audit work is limited to three times the audit fee, in respect of any claim arising from or in connection with the audit work.

Date of Resolution Approving the Agreement: The liability limitation agreement was approved by the shareholder of the company on August 08, 2024, in accordance with the company’s Articles of Association and relevant provisions of the Companies Act 2006.

The limits specified above shall be the maximum amounts for which the auditor, its directors, and employees shall be liable to all persons party to this agreement, and also to any other persons with whom the auditor has agreed the limits, as may rely on the auditor’s work.

This disclosure is made in compliance with Section 534 of the Companies Act 2006, which mandates the disclosure of the terms of liability limitation agreements.

Small Company Rules

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

On behalf of the board

Mr Jegatheesan Indraprakash

Director

04/04/2025

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Independent Auditor's Report

to the Members of

Lyca Media II Limited

Independent Auditor's Report

Opinion

We have audited the financial statements of Lyca Media II Limited for the year ended 31 December 2023 which comprise the Profit and Loss Account, Balance Sheet, Statement of changes in equity and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 - Section 1A for Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

In our opinion the financial statements:

give a true and fair view of the state of the company's affairs as at 31 December 2023 and of its profit for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice applicable to smaller entities; and
have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for Opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Material Uncertainty related to Going Concern

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.

We draw attention to note 2.2 in the financial statements, concerning the company's ability to continue as a going concern which includes:

Reliance on the financial support from the related parties where there is no formal guarantee in place

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. Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other Information

The other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. The director is responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements, or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on Other Matters Prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

the information given in the directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the director's report has been prepared in accordance with applicable legal requirements.

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Independent Auditor's Report (continued)

to the Members of

Lyca Media II Limited

Matters on Which We Are Required to Report by Exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors' Report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records or returns; or
certain disclosures of directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit, or
the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Directors' Report and from the requirement to prepare a Strategic Report.

Responsibilities of Directors

As explained more fully in the Directors' Responsibilities Statement set out on page 2—3, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

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Independent Auditor's Report (continued)

to the Members of

Lyca Media II Limited

Auditor's Responsibilities for the Audit of the Financial Statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We obtained an understanding of the company and the sector in which it operates to identify laws and regulations that could reasonably be expected to have a direct effect on financial statements. We obtained our understanding in this regard through discussions with management, industry research, application of cumulative audit knowledge and experience of the sector.
We determined the principal laws and regulations relevant to the company in this regard to be those arising from Companies Act 2006, relevant financial reporting standards, the Company's constitutio and UK taxation legislation. Including those that will have an indirect impact such as Data Protection Act 1996, Employement Act 2008, Bribery Act 2010, Health and Safety Act 1974, Telecommunication Act 1984, Wireless Telegraphy Act 2006 etc.
We designed our audit procedures to ensure the audit team considered whether there were any indications of non-compliance by the company with those laws and regulations. These procedures included, but were not limited to:

- Enquiries of management;

- Review of legal correspondence; and

- Review of regulatory correspondence.

We also identified the risks of material misstatement of the financial statements due to fraud. We considered, in addition to the non-rebuttable presumption of a risk of fraud arising from management override of controls, that the potential for management bias was identified in relation to the impairment of related party balances. We addressed this risk by challenging the assumptions and judgements made by management when auditing these significant accounting estimates.
As in all of our audits, we addressed the risk of fraud arising from management override of controls by performing audit procedures which included but were not limited to the testing of journals; reviewing accounting estimates for evidence of bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

Because of the Inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding Irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.

Use Of Our Report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters that we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

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Independent Auditor's Report (continued)

to the Members of

Lyca Media II Limited

Mr Shoolin Girishkumar Yagnik (Senior Statutory Auditor)

for and on behalf of Sterling Young Limited , Statutory Auditor

04/04/2025

Sterling Young Limited

Suite 50

238 Merton High Road

London

SW19 1AU

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Lyca Media II Limited

Profit and Loss Account

For The Year Ended 31 December 2023

Profit and Loss Account

		2023	2022
	Notes	£	£
TURNOVER		1,664,442	1,443,669
Cost of sales		(1,420,209 )	(1,584,089 )

GROSS PROFIT/(LOSS)		244,233	(140,420 )

Administrative expenses		187,508	(1,247,433 )

OPERATING PROFIT/(LOSS) AND PROFIT/(LOSS) BEFORE TAXATION		431,741	(1,387,853 )
Tax on Profit/(loss)		(31,200 )	-

PROFIT/(LOSS) AFTER TAXATION BEING PROFIT/(LOSS) FOR THE FINANCIAL YEAR		400,541	(1,387,853 )

The notes on pages 10 to 15 form part of these financial statements.

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Lyca Media II Limited

Balance Sheet

As At 31 December 2023

Balance Sheet

		2023		2022
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	5		335,000		-
Tangible Assets	6		43,537		35,092

			378,537		35,092
CURRENT ASSETS
Debtors	7	1,994,849		1,209,619
Cash at bank and in hand		64,888		28,750

		2,059,737		1,238,369
Creditors: Amounts Falling Due Within One Year	8	(14,939,596 )		(13,792,004 )

NET CURRENT ASSETS (LIABILITIES)			(12,879,859 )		(12,553,635 )

TOTAL ASSETS LESS CURRENT LIABILITIES			(12,501,322 )		(12,518,543 )

Creditors: Amounts Falling Due After More Than One Year	9		-		(208,320 )

PROVISIONS FOR LIABILITIES
Provisions For Charges	10		-		(175,000 )

NET LIABILITIES			(12,501,322 )		(12,901,863 )

CAPITAL AND RESERVES
Called up share capital	11		200		200
Profit and Loss Account			(12,501,522 )		(12,902,063 )

SHAREHOLDERS' FUNDS			(12,501,322)		(12,901,863)

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

On behalf of the board

Mr Jegatheesan Indraprakash

Director

04/04/2025

The notes on pages 10 to 15 form part of these financial statements.

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Lyca Media II Limited

Notes to the Financial Statements

For The Year Ended 31 December 2023

Notes to the Financial Statements

1. General Information

Lyca Media II Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08871311 . The registered office is 3rd Floor, Walbrook building ,195 Marsh Wall , London, E14 9SG.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting pollcies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

Presentation currency

The financial statements are prepared in sterling, which is the functional currency of the company.

2.2. Going Concern Disclosure

The directors have identified material uncertainties that may cast significant doubt on the company's ability to continue as a going concern. The company reported a profit of £400,541 for the year (2022: loss of £1,387,853) and had net liabilities of £12,501,322 as of 31 December 2023 (2022: £12,901,863).

The company is a wholly owned subsidiary of WWW Holding Company Limited, with Mr. A Subaskaran holding 98.3% of its issued share capital. It relies on financial support from group undertakings and related parties, with amounts due from and payable to these entities. A letter of support has been obtained from the directors of related party companies, confirming their intention to provide financial support for at least 12 months from the date of approval of these financial statements.

However, as the company is wholly reliant on this support, the ability of the related parties to provide the required funding gives rise to a material uncertainty regarding going concern. Despite this, the directors consider that the going concern basis remains appropriate in preparing these financial statements.

2.3. Significant judgements and estimations

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Amortisation of intangible assets is provided for over the estimated useful life as noted in Note 2.6

Depreciation is provided for in accordance with the depreciation policies in note 2.7

Provision for bad debts is provided for in accordance with financial instruments policy in Note 2.9

2.4. Turnover

Revenue is recognised to the extent that it is probable that the economic benefits wlll flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

the amount of revenue can be measured reliably:
it is probable that the Company will receive the consideration due under the contract;

Revenue is measured at the fair value of the consideration received or receivable and represents amounts receivable for services supplied stated net of value added taxes.

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Lyca Media II Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2023

2.5. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer's interest in the fair value of its identifiable assets and liabilities of the acquiree at the dafe of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis to the Profit and Loss Account over its useful economic life.

Goodwill is amortised over its expected useful life which is estimated to be 10 years. Goodwill is assessed for impairment when there are Indicators of impairment and any Impairment is charged to the income statement. No reversals of impairment are recognised.

2.6. Intangible Fixed Assets and Amortisation - Other Intangible

Broadcasting licences are recognised as intangible assets when it is probable that future economic benefits will flow to the company and the cost can be measured reliably.

Licences with a finite useful life are amortised on a straight-line basis over the period of the licence i.e 5 Years. The amortisation period and method are reviewed annually to ensure they remain appropriate.

If a broadcasting licence has an indefinite useful life (e.g., if it is renewable without significant cost and the company intends to renew indefinitely), it is not amortised but is subject to an annual impairment review in accordance with FRS 102, Section 27.

2.7. Tangible Fixed Assets and Depreciation

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures & Fittings	5 years
Computer Equipment	4 years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an Indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.8. Leasing and Hire Purchase Contracts

Operating leases are recognized by expensing lease payments on a straight-line basis over the lease term, unless another systematic basis better reflects the pattern of usage. The leased asset is not recognized on the balance sheet, and no liability is recorded. Lease payments are treated as an operating expense in the income statement. Any lease incentives received are recognized as a reduction of rental expense over the lease term.

2.9. Financial Instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabllities like trade and other debtors and creditors, loans to related parties.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, If the arrangements of a short-term instrument constitute a financing out-right short-term loan that is not at market rate, the financlal asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

...CONTINUED

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Lyca Media II Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2023

2.9. Financial Instruments - continued

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would recelve for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans recelvable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors

Short term creditors are measured at the transaction price. Other financial liabilitles are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.10. Foreign Currencies

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non- monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Profit and Loss Account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'Administrative expenses'.

2.11. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

2.12. Impairment of Fixed Assets

Assets that are subject to depreciation or amortisation are assessed at each balance sheet date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash-generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (CGUs). Non-financial assets that have been previously impaired are reviewed at each balance sheet date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.

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Lyca Media II Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2023

2.13. Cash

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change.in value.

2.14. Provision for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provislons are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Balance Sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the Balance Sheet.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 9 (2022: 10)

4. Administrative expenses

The administrative expenses includes reversal of old liablities and provisons amounting to £186,699 and £420,192 respectively resulting in expenses to be a credit balance.

5. Intangible Assets

	Goodwill	Other	Total
	£	£	£
Cost
As at 1 January 2023	100,000	2,000,000	2,100,000
Additions	-	335,000	335,000

As at 31 December 2023	100,000	2,335,000	2,435,000

Amortisation
As at 1 January 2023	100,000	2,000,000	2,100,000

As at 31 December 2023	100,000	2,000,000	2,100,000

Net Book Value
As at 31 December 2023	-	335,000	335,000

As at 1 January 2023	-	-	-

Intangible assets includes Broadcasting licences which are recognised when it is probable that future economic benefits will flow to the company and the cost can be measured reliably.

This has not been amortised during the year as it was purchased at the end of the financial year.

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Lyca Media II Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2023

6. Tangible Assets

	Fixtures & Fittings	Computer Equipment	Total
	£	£	£
Cost
As at 1 January 2023	51,449	170,444	221,893
Additions	-	17,706	17,706

As at 31 December 2023	51,449	188,150	239,599

Depreciation
As at 1 January 2023	41,382	145,419	186,801
Provided during the period	2,013	7,248	9,261

As at 31 December 2023	43,395	152,667	196,062

Net Book Value
As at 31 December 2023	8,054	35,483	43,537

As at 1 January 2023	10,067	25,025	35,092

7. Debtors

	2023	2022
	£	£
Due within one year
Trade debtors	1,145,546	821,978
Amounts owed by group undertakings	581,740	135,574
Other debtors	267,563	252,067

	1,994,849	1,209,619

Amounts owed by related parties are interest free and repayable on demand.

8. Creditors: Amounts Falling Due Within One Year

	2023	2022
	£	£
Trade creditors	468,920	296,868
Amounts owed to group undertakings	14,121,249	12,982,594
Other creditors	318,227	512,542
Taxation and social security	31,200	-

	14,939,596	13,792,004

Amounts owed to group undertaking are interest free and repayable on demand.

9. Creditors: Amounts Falling Due After More Than One Year

	2023	2022
	£	£
Other creditors	-	208,320

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Lyca Media II Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2023

10. Provisions for Liabilities


	Other Provisions	Total
	£	£
As at 1 January 2023	175,000	175,000
Reversals	(175,000 )	(175,000)

The supplier was required to initiate legal proceedings by 26 September 2023. As no legal claim appears to have been filed by that date, the debt is deemed statutorily barred under the Limitation Act 1980 due to the expiration of the limitation period. Consequently, the alleged debt, being over six years old, is no longer legally enforceable. Accordingly, the provision has been reversed, as it is no longer probable that the Company will be required to settle the amount of £175,000.

11. Share Capital

	2023	2022
	£	£
Allotted, Called up and fully paid	200	200

12. Other Commitments

The total of future minimum lease payments under operating leases are as following:

	2023	2022
	£	£
Not later than one year	30,000	-

	30,000	-

13. Related Party Transactions

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

14. Ultimate Controlling Party

The Company's immediate parent is WWW Holding Company Limited, incorporated in England and Wales. The ultimate parent is WWW Holding Company Limited, incorporated in England and Wales.

15. Auditor Liability Limitation

The company has entered into a liability limitation agreement with Sterling Young Ltd, the statutory auditor, in respect of the statutory audit for the period ended 31 December 2023. The proportionate liability agreement follows the standard terms in Appendix B to the Financial Reporting Council's June 2008 Guidance on Auditor Liability Agreements, and was approved by the shareholder on 8 August 2024.

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