Company No: 05389677 (England and Wales)

Contents

• Company Information
• Accountants' Report
• Balance Sheet
• Notes to the Financial Statements

Director

D Curl

Registered office	C/O Birketts Llp One London Wall
	Barbican
	London
	EC2Y 5EA
	United Kingdom

Company number

05389677 (England and Wales)

Accountant	Kreston Reeves LLP
	2nd Floor
	168 Shoreditch High Street
	London
	E1 6RA

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of TLA Entertainment Limited for the financial year ended 31 December 2024 which comprise the Balance Sheet and the related notes 1 to 10 from the Company’s accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/regulation.

It is your duty to ensure that TLA Entertainment Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of TLA Entertainment Limited. You consider that TLA Entertainment Limited is exempt from the statutory audit requirement for the financial year.

We have not been instructed to carry out an audit or a review of the financial statements of TLA Entertainment Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

This report is made solely to the Director of TLA Entertainment Limited, as a body, in accordance with the terms of our engagement letter dated 03 September 2024. Our work has been undertaken solely to prepare for your approval the financial statements of TLA Entertainment Limited and state those matters that we have agreed to state to the director of TLA Entertainment Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than TLA Entertainment Limited and its Director as a body for our work or for this report.

Kreston Reeves LLP
Chartered Accountants

2nd Floor
168 Shoreditch High Street
London
E1 6RA

25 September 2025

	Note	2024		2023
		£		£
Current assets
Stocks	3	47,134		101,100
Debtors	4	77,495		60,338
Cash at bank and in hand		828		1,410
		125,457		162,848
Creditors: amounts falling due within one year	5	( 449,734)		( 417,709)
Net current liabilities		(324,277)		(254,861)
Total assets less current liabilities		(324,277)		(254,861)
Net liabilities		( 324,277)		( 254,861)
Capital and reserves
Called-up share capital	6	800,000		800,000
Profit and loss account	9	( 1,124,277 )		( 1,054,861 )
Total shareholder's deficit		( 324,277)		( 254,861)

For the financial 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.

Director's responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Comprehensive Income has not been delivered.

The financial statements of TLA Entertainment Limited (registered number: 05389677) were approved and authorised for issue by the Director on 25 September 2025. They were signed on its behalf by:

D Curl Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

TLA Entertainment Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Birketts Llp One London Wall, Barbican, London, EC2Y 5EA, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Notwithstanding the loss in the year of £69,416 (2023: £42,745) and that the company has net current liabilities of £324,277 (2023: £254,861) the financial statements have been prepared on a going concern basis.

The company continues to cut costs by replicating less products and eliminating older DVD products to reduce storage fees. The company is slowly phasing out DVD sales, focusing on the digital and SVOD market. The parent company will continue to provide support for the foreseeable future if necessary.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Comprehensive Income in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Comprehensive Income in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	2		2

3. Stocks

	2024		2023
	£		£
Stocks	47,134		101,100

4. Debtors

	2024		2023
	£		£
Trade debtors	8,659		9,507
Other debtors	68,836		50,831
	77,495		60,338

5. Creditors: amounts falling due within one year

	2024		2023
	£		£
Trade creditors	181,935		169,940
Amounts owed to Group undertakings	177,264		115,744
Other taxation and social security	806		930
Other creditors	89,729		131,095
	449,734		417,709

6. Called-up share capital

	2024		2023
	£		£
Allotted, called-up and fully-paid
800,000 Ordinary shares of £ 1.00 each	800,000		800,000

7. Financial commitments

Pensions

The Company operates a defined contribution pension scheme for the director and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.

The pension cost charge represents contributions payable by the Company to the fund and amounted to £1,230 (2022: £1,272). Contributions totalling £565 (2023: £283) were payable to the fund at the balance sheet date and are included in creditors. The amount is included within other creditors in note 5.

8. Related party transactions

Transactions with entities in which the entity itself has a participating interest

During the year, the company operated a loan with TLA Entertainment Group Inc its shareholder. At the year end the balance due of £177,264 (2023: £115,744). The amount is included within amounts owed to group undertaking in note 5.

Transactions with the entity's director

D Curl, the director and ultimate controlling party of the company, has a directors loan account with the company which is interest free. At the year end the balance owed to D Curl was £33,652 (2023: £33,652). The amount is included within other creditors in note 5.

Other related party transactions

During the year Double Dagger LLC its shareholder, raised invoices totalling £24,951 in relation to royalties to the company. At the year end a balance due of £24,951 (2023: £23,821) was outstanding and included within trade creditors in note 5.

9. Reserves

Profit and loss account

The profit and loss account includes all current and prior period retained profits and losses.

10. Ultimate controlling party

Parent Company:

Double Dagger LLC

United States of America

The immediate controlling party is Double Dagger LLC, a company incorporated in the United States of America, by virtue of their 75% shareholding. The ultimate controlling party is considered to be D Curl, the director of the company.