Kingston Investment Limited

	Page
Company Information	1
Directors' Report	2—3
Accountant's Report	4
Statement of Income and Retained Earnings	5
Balance Sheet	6
Notes to the Financial Statements	7—9

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Company No. 08614307

Directors' Report For The Year Ended 31 December 2024

Directors' Report

The directors present their report and the financial statements for the year ended 31 December 2024.

Principal Activity

The principal activity of the Company is that television broadcasting and production as well as leasing production facilities to media production companies.

Directors

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

Sargon Isaac	Appointed	03/06/2024
Muhammad Ismail Haji	Appointed	03/06/2024	Resigned	31/01/2025
Ninous Namrod Dawowd	Appointed	03/06/2024	Resigned	31/01/2025
Rita Petrova	Appointed	04/09/2024	Resigned	25/09/2024

Results and dividends

The loss for the year, after taxation, amounted to £604,963 (2023 - profit £574,455).

No interim or final dividends were declared for the year ended 31 December 2024.

Financial Instruments

The Company's principal financial instruments comprise cash balances, trade receivables, trade payables and loans from beneficial owners. The Company does not use derivative financial instruments.

Going concern

The Company’s net current assets are negative. However, the directors have received confirmation from the beneficial owners that they will continue to provide financial support for at least 12 months from the date of approval of these financial statements.

Statement of Directors' Responsibilities

The directors are responsible for preparing the Directors’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 Section 1A.

Company law requires the directors to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the company and of the profit or loss for that period. In preparing these financial statements, the directors are required to:

select suitable accounting policies and apply them consistently;
make judgements and accounting estimates that are reasonable and prudent;
state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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 also responsible for keeping adequate accounting records which are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy the financial position of the company at any time. They must ensure that the financial statements comply with the Companies Act 2006. The directors are further responsible for safeguarding the assets of the company and for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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Kingston Investment Limited

Directors' Report (continued)

For The Year Ended 31 December 2024

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

Sargon Isaac

Director

09/09/2025

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Kingston Investment Limited

Accountant's Report

For The Year Ended 31 December 2024

Accountant's Report

We have compiled the financial statements of Kingston Investment Limited for the year ended 31 December 2024 from the accounting records and information provided by the directors.

These financial statements are prepared for approval by the directors and filed in accordance with the provisions of the Companies Act 2006 relating to small companies. The directors remain responsible for ensuring that the company keeps adequate accounting records and prepares financial statements that give a true and fair view.

We have not carried out an audit or review of these financial statements. Accordingly, we do not express any assurance or opinion on them.

Accutax Services Limited

09/09/2025

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Kingston Investment Limited

Statement of Income and Retained Earnings

For The Year Ended 31 December 2024

Statement of Income and Retained Earnings

		2024	2023
	Notes	£	£
TURNOVER		240,000	330,000
Cost of sales		(11,750 )	-

GROSS PROFIT		228,250	330,000

Administrative expenses		(833,213 )	(862,382 )

OPERATING LOSS	3	(604,963 )	(532,382 )
Other interest receivable and similar income		-	1,106,837

(LOSS)/PROFIT FOR THE FINANCIAL YEAR		(604,963 )	574,455
RETAINED EARNINGS
As at 1 January 2024		848,750	274,295
As at 31 December 2024		243,787	848,750

The notes on pages 7 to 9 form part of these financial statements.

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Kingston Investment Limited

Balance Sheet

As At 31 December 2024

Balance Sheet

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	5		4,456,063		4,904,328

			4,456,063		4,904,328
CURRENT ASSETS
Prepayments and Other Receivables	6	49,892		21,886
Cash at bank and in hand		10,734		3,024

		60,626		24,910
Trade and Other Payables: Amounts Falling Due Within One Year	7	(84,294 )		(4,080,388 )

NET CURRENT ASSETS (LIABILITIES)			(23,668 )		(4,055,478 )

TOTAL ASSETS LESS CURRENT LIABILITIES			4,432,395		848,850

Loans and Borrowings: Amounts Falling Due After More Than One Year	8		(4,188,508 )		-

NET ASSETS			243,887		848,850

CAPITAL AND RESERVES
Called up share capital	9		100		100
Profit and Loss Account			243,787		848,750

SHAREHOLDERS' FUNDS			243,887		848,850

For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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

On behalf of the board

Sargon Isaac

Director

09/09/2025

The notes on pages 7 to 9 form part of these financial statements.

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Kingston Investment Limited

Notes to the Financial Statements

For The Year Ended 31 December 2024

Notes to the Financial Statements

1. General Information

Kingston Investment Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08614307 . The registered office is 7-10 Sovereign Park Industrial Estate , Coronation Road, Park Royal, London, NW10 7QP.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Going Concern Disclosure

The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.

2.3. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Cost of Sales

Cost of sales comprises expenses directly incurred in delivering services to customers, including facilities and other production-related costs. These costs are recognised as incurred to match the recognition of associated turnover.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold Property	Not Depreciated
Building Improvements	15 Years
Plant & Machinery	3 Years
Fixtures & Fittings	3-5 Years

The cost of property improvement, plant and equipment are depreciated over the estimated useful

economic lives of the individual assets. Management takes into account the information they have

available at the date the estimate is made and they estimate that the useful live of the property

improvement to be 15 years and equipment assets to be between 3 and 5 years. The carrying amount of

the Company's fixed assets in the statement of financial position is disclosed in note 10 of the financial

statements.

2.5. Financial Instruments

Financial assets and financial liabilities are recognised when an entity becomes a party to the contractual

provisions of the instruments.

Trade and other receivables are measured at transaction price less provision for impairment;
Cash and cash equivalents comprise cash at bank and in hand;
Trade and other payables, including loans from beneficial owners, are measured at transaction price; The company does not hold or issue any complex financial instruments and does not apply fair value accounting.

3. Operating Loss

The operating loss is stated after charging:

	2024	2023
	£	£
Depreciation of tangible fixed assets	448,265	398,744

4. Average Number of Employees

Average number of employees, including directors, during the year was: NIL (2023: NIL)

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Kingston Investment Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

5. Tangible Assets

	Land & Property
	Freehold Property	Building Improvements	Plant & Machinery	Fixtures & Fittings	Total
	£	£	£	£	£
Cost
As at 1 January 2024	2,661,000	2,389,808	768,690	211,721	6,031,219

As at 31 December 2024	2,661,000	2,389,808	768,690	211,721	6,031,219

Depreciation
As at 1 January 2024	-	796,603	192,173	138,115	1,126,891
Provided during the period	-	159,321	256,230	32,714	448,265

As at 31 December 2024	-	955,924	448,403	170,829	1,575,156

Net Book Value
As at 31 December 2024	2,661,000	1,433,884	320,287	40,892	4,456,063

As at 1 January 2024	2,661,000	1,593,205	576,517	73,606	4,904,328

6. Prepayments and Other Receivables

	2024	2023
	£	£
Due within one year
Trade debtors	24,000	-
Unpaid Share Capital	99	99
Other debtors	25,793	21,787

	49,892	21,886

7. Trade and Other Payables: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	68,142	7,714
Sponsor’s loan	-	4,055,000
Accruals	16,152	6,000
Taxation and social security	-	11,674

	84,294	4,080,388

8. Loans and Borrowings: Amounts Falling Due After More Than One Year

	2024	2023
	£	£
Sponsor's loan	4,188,508	-

The company was acquired by new beneficial owners on 31 May 2024. As part of the acquisition, the new owners settled the outstanding sponsor’s loan of £4,100,000 that was due at the acquisition date.

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Kingston Investment Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

9. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	100	100

10. Retained Earnings

The profit and loss account does not contain any non-distributable reserves in the current or prior periods.

11. Financial risk management

The company’s principal financial liabilities comprise a loan from the beneficial owner and trade payables. The company has various financial assets such as cash and short-term deposits and other receivables which arise directly from its operations.

The main risks arising from the company's financial instruments are liquidity risk and credit risk. The director reviews and agrees policies for managing each of these risks which are summarised below.

11.1 Interest rate and liquidity risk

The company has no significant interest rate risk at 31 December 2024. Payables, other than loans from the beneficial owner, are generally due to mature from one to three months. Liquidity risk is managed through short and medium-term cash forecasting, which forms the basis to schedule equity in order to meet funding needs. None of the financial liabilities are interest bearing.

11.2 Credit risk

There are no significant concentrations of credit risk within the company unless otherwise disclosed. The maximum credit exposure relating to financial assets is represented by carrying value as at the balance sheet date. Credit risk for the company is managed through periodic review of its financial position.

11.3 Capital management

The capital of the company is managed in order to provide a strong platform for operation and expansion of the business. At the current stage of development, it is company's policy that this is best achieved through both debt and equity. The company has income being received but still currently receives large amounts of funding from its beneficial owner.

12. Controlling party

Kurdistan Satellit GMBH acquired the shareholding of this company on 31 May 2024 and is now the immediate controlling party.

13. Events after the reporting date

Two directors resigned on 31 January 2025.

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Director	Sargon Isaac

Company Number	08614307

Registered Office	7-10 Sovereign Park Industrial Estate
	Coronation Road, Park Royal
	London
	NW10 7QP