REGISTERED NUMBER: 11023023 (England and Wales)

Report of the Directors and

Unaudited Financial Statements for the Year Ended 31 December 2024

for

ABM Communications Limited

Page

Company Information

1

Report of the Directors

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

6

DIRECTORS:

G Angus

N F Bullen

L D E Hollingworth

E Mason

REGISTERED OFFICE:

27 Old Gloucester Street

London

WC1N 3AX

REGISTERED NUMBER:

11023023 (England and Wales)

ACCOUNTANTS:

Elemental CoSec Limited

27 Old Gloucester Street

London

WC1N 3AX

The directors present their report with the financial statements of the company for the year ended 31 December 2024.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of television programming and broadcasting.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 January 2024 to the date of this report.

G Angus

N F Bullen

L D E Hollingworth

E Mason

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Report of the Directors 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 these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements 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.

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

ON BEHALF OF THE BOARD:

G Angus - Director

11 September 2025

TURNOVER

2,320,558

2,700,009

Cost of sales

1,510,644

1,682,081

GROSS PROFIT

809,914

1,017,928

Administrative expenses

1,119,880

3,051,549

OPERATING LOSS

4

(309,966

)

(2,033,621

)

Interest receivable and similar income

78

122

(309,888

)

(2,033,499

)

Interest payable and similar expenses

209,560

45,313

LOSS BEFORE TAXATION

(519,448

)

(2,078,812

)

Tax on loss

-

-

LOSS FOR THE FINANCIAL YEAR

(519,448

)

(2,078,812

)

FIXED ASSETS

Intangible assets

5

1,293,335

1,213,454

Tangible assets

6

-

951

1,293,335

1,214,405

CURRENT ASSETS

Debtors

7

250,939

495,037

Prepayments and accrued income

170,387

213,070

Cash at bank

276,716

656,365

698,042

1,364,472

CREDITORS

Amounts falling due within one year

8

364,012

648,410

NET CURRENT ASSETS

334,030

716,062

TOTAL ASSETS LESS CURRENT LIABILITIES

1,627,365

1,930,467

CREDITORS

Amounts falling due after more than one year

9

1,190,691

974,345

NET ASSETS

436,674

956,122

CAPITAL AND RESERVES

Called up share capital

2,303

2,303

Share premium

17,245,136

17,245,136

Retained earnings

(16,810,765

)

(16,291,317

)

436,674

956,122

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 11 September 2025 and were signed on its behalf by:

G Angus - Director

1.	STATUTORY INFORMATION

ABM Communications 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their licence term.

Computer software & trademarks are being amortised evenly over their estimated useful life of five years.

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

-

33% on a straight line basis

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.

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.

Other creditors

Within other creditors is an amount of £1,190,690 in relation to convertible loan notes. The loan notes expected conversion dates are July and October 2026.

Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 4 ) .

4.	OPERATING LOSS

The operating loss is stated after charging:

31.12.24

31.12.23

£

£

Depreciation - owned assets

951

1,946

Patents and licences amortisation

1,160,335

1,265,059

5.	INTANGIBLE FIXED ASSETS

Patents

and

Computer

licences

software

Totals

£

£

£

COST

At 1 January 2024

2,041,163

39,600

2,080,763

Additions

1,240,216

-

1,240,216

Disposals

(1,060,519

)

-

(1,060,519

)

At 31 December 2024

2,220,860

39,600

2,260,460

AMORTISATION

At 1 January 2024

827,709

39,600

867,309

Amortisation for year

1,160,335

-

1,160,335

Eliminated on disposal

(1,060,519

)

-

(1,060,519

)

At 31 December 2024

927,525

39,600

967,125

NET BOOK VALUE

At 31 December 2024

1,293,335

-

1,293,335

At 31 December 2023

1,213,454

-

1,213,454

6.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 January 2024

and 31 December 2024

9,568

DEPRECIATION

At 1 January 2024

8,617

Charge for year

951

At 31 December 2024

9,568

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

951

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

156,277

221,741

Other debtors

94,662

273,296

250,939

495,037

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

17,631

25,108

Trade creditors

304,428

594,661

Taxation and social security

10,967

11,167

Other creditors

30,986

17,474

364,012

648,410

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Other creditors

1,190,691

974,345