REGISTERED NUMBER: 03900797 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

KHL MEDIA LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J F King

A J J Kenter

REGISTERED OFFICE:

Southfields

South View Road

Sparrows Green

Wadhurst

East Sussex

TN5 6TP

REGISTERED NUMBER:

03900797 (England and Wales)

AUDITORS:

Ashdown Hurrey Auditors Ltd

Statutory Auditor

20 Havelock Road

Hastings

East Sussex

TN34 1BP

FIXED ASSETS

Intangible assets

4

-

-

Investments

5

4,522,812

4,958,377

4,522,812

4,958,377

CURRENT ASSETS

Debtors

6

436,668

115,968

Cash at bank

195,488

279,770

632,156

395,738

CREDITORS

Amounts falling due within one year

7

945,714

877,441

NET CURRENT LIABILITIES

(313,558

)

(481,703

)

TOTAL ASSETS LESS CURRENT LIABILITIES

4,209,254

4,476,674

PROVISIONS FOR LIABILITIES

8

169,834

256,218

NET ASSETS

4,039,420

4,220,456

CAPITAL AND RESERVES

Called up share capital

918

965

Capital redemption reserve

1,082

1,036

Retained earnings

4,037,420

4,218,455

SHAREHOLDERS' FUNDS

4,039,420

4,220,456

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 Comprehensive Income has not been delivered.

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:

J F King - Director

1.	STATUTORY INFORMATION

KHL Media 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 as modified by the revaluation of certain assets.

Going concern

The directors have made an assessment about the company's ability to continue as a going concern and they do not consider there to be any material uncertainties. As a result they have adopted the going concern basis of accounting.

Turnover

Turnover is generated by the sale of annual subscriptions to the company's media assets and data services. Income from these subscriptions is recognized on a pro rata basis over the period covered by them.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2015, has been amortised over its estimated useful life of five years.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Where subsidiaries are Limited Liability Partnerships (LLPs), these are recognized at the value of investment at the balance sheet date, as represented by the balance on the company's Current and Capital accounts in the LLPs.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 year 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.

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.

Returns on investments

The company receives a return upon its investments in Limited Liability Partnership subsidiaries in the form of interest receivable, at a reasonable rate, on year end investment balances.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 10 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

and 31 December 2024

1,047,951

AMORTISATION

At 1 January 2024

and 31 December 2024

1,047,951

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

5.	FIXED ASSET INVESTMENTS

Shares in

group

Other

undertakings

investments

Totals

£

£

£

COST OR VALUATION

At 1 January 2024

100,000

4,858,377

4,958,377

Disposals

-

(435,565

)

(435,565

)

At 31 December 2024

100,000

4,422,812

4,522,812

NET BOOK VALUE

At 31 December 2024

100,000

4,422,812

4,522,812

At 31 December 2023

100,000

4,858,377

4,958,377

Cost or valuation at 31 December 2024 is represented by:

Shares in

group

Other

undertakings

investments

Totals

£

£

£

Cost

100,000

4,422,812

4,522,812

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

399,718

102,565

Other debtors

36,950

13,403

436,668

115,968

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

7,530

4,600

Amounts owed to group undertakings

1,737

1,737

Taxation and social security

56,369

158,829

Other creditors

880,078

712,275

945,714

877,441

8.	PROVISIONS FOR LIABILITIES

31.12.24

31.12.23

£

£

Other provisions

169,834

256,218

Buy back

of own

shares

£

Balance at 1 January 2024

256,218

Provided during year

(86,384

)

Balance at 31 December 2024

169,834

As part of one of the previous director's retirement, the company restructured and an agreement was made to buy-back the shares held by him for a total value of £1,000,000. The buy-back period covers 1 April 2017 to 30 April 2026, in equal annual amounts in accordance with the terms of an agreement dated 1 April 2017.

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

The Report of the Auditors was unqualified.

Simon Lawrence FCCA (Senior Statutory Auditor)

for and on behalf of Ashdown Hurrey Auditors Ltd

10.	OTHER FINANCIAL COMMITMENTS

The company's bank holds a debenture dated 30 April 2012 given by KHL Media Ltd for all monies due or to become due on any account. The debenture is a fixed and floating charge over the company and all the current and future assets of the company.

A composite multilateral guarantee dated 26 April 2012 has been given to the bank by KHL Assets LLP, KHL Group LLP and KHL Media Ltd.

11.	RELATED PARTY DISCLOSURES

The company is a member of KHL Group LLP and KHL Assets LLP. The capital account balances due from these entities as at the year end are shown as fixed asset investments on the balance sheet. These are further detailed as Other Investments in note 5.

The value of the investment in KHL Group LLP was £4,304,267 (2023: £4,739,832) and the company received no return on investment during the year.

The value of the investment in KHL Assets LLP was £118,545 (2023: £118,545).

The company owns Off Highway Research India Ltd, and the value of the investment of £100,000 is also detailed in note 5. During the year, the company paid £170,118 (2023: £194,273) of office running costs for this subsidiary.

12.	FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.