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

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

Ringside Media Limited is a private company limited by shares incorporated in England and Wales. The registered office is 1010 Eskdale Road, Winnersh Triangle, Wokingham, Berkshire, RG41 5TS. The company's main activity is the production of television programs.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

In preparing the financial statements, the directors are required to assess the Company’s ability to continue trade as a going concern for the foreseeable future.true

At the time of approving the financial statements, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Furthermore, the directors have reviewed the company’s cash balance, as well as the projected administrative and other costs for the next 12 months from the date of signing the financial statements. They believe there are adequate resources in place. In addition, the parent company has confirmed it will support the company with discharging its debts for a period of 12 months from today’s date and will not call in the £4,264,626 intercompany loan until the company is in a position to repay. For these reasons, the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover is derived from the development and/or production of film and/or television project, and is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Performance obligations are the goods or services promised in the contract. The company recognises revenue when it has satisfied a performance obligation by providing the customer with the promised good or service. A performance obligation is satisfied when control of the good or service is transferred to the customer. This transfer takes place at a point in time. Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured.                    

Turnover which has been recognised but not invoiced by the balance sheet date is included in debtors. Amounts invoiced in advance are included in deferred income.    

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

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 current liabilities.

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

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.

Basic financial liabilities, including creditors, loans from fellow group companies and deferred consideration payable, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Other income

Other income relates to the interest charged on loans provided.

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.

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are outlined below.

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

Impairment of fixed asset investment

The Company is required to consider fixed assets investment for impairment where such indicators exist using value in use calculations or fair value estimates. The use of these methods may require the estimation of future cash flows and the estimation of a discount rate in order to calculate the present value of the cash flows.

The average monthly number of persons (including directors) employed by the company during the year was:

On 5 March 2024, Ringside Media Limited acquired a further 60,001 shares in associate Slate Entertainment Limited for cash consideration of £93,000. At 5 March 2024, management consider Ringside Media Limited to hold control over the investment and classify Slate Entertainment Limited as a subsidiary under FRS 102:14.2 for the year ending 31 December 2024.

In 2025, an associate entity commenced the dissolution process which has led to a recognised £804,090 impairment charge.

Details of the company's subsidiaries at 31 December 2024 are as follows:

Details of the company's associates at 31 December 2024 are as follows:

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

During the year the company entered into the following transactions with related parties:

Sales to associates relates to accrued production turnover earned in accordance with the shareholder agreement, receiving a percentage of earnings from Further South Productions Limited's titles.

The following amounts were outstanding at the reporting end date:

Amounts due from associates consist of £293,073 working capital loan due from Further South Productions Limited. This loan is repayable on demand when cash is available and incurs interest at GBP 3M LIBOR +1.7%. Also included is £17,457 development loan balance. This loan is repayable within 3 years of agreement date, being 22 August 2025, and incurs interest at GBP 3M LIBOR + 1.7%.

Amounts due from associates also consists of £94,767 development loan due from B-Side Film & TV Ltd. This loan is repayable within 5 years of agreement date, being 17 January 2027, and incurs interest at GBP 3M LIBOR + 1.7%.

Amounts due from associates also consists of £209,870 development loan due from Joi Productions Limited. This loan is repayable within 5 years of agreement date, being 11 March 2027, and incurs interest at GBP 3M LIBOR + 1.7%.

Amounts due from associates also consists of £121,866 development loan due from Slate Entertainment Limited. An amendment loan agreement was agreed on 5 March 2024, increasing the maximum loan facility to £250,000 repayable within 3 years, being 26 May 2027, and incurs interest at GBP 3M LIBOR + 1.7% annually. Also included is £25,769 working capital loan balance. This loan is repayable within 3 years of agreement date, being 26 May 2027, and incurs interest at 1.7% annually.

The immediate parent undertaking is Ringside Studios Limited, a company incorporated in United Kingdom and its registered office is 1010 Eskdale Road, Winnersh Triangle, Wokingham, United Kingdom.

Television Francaise 1 SA (TF1), a company registered in France, is considered to be the ultimate parent undertaking and controlling part of the Company. The ultimate parent is the smallest and largest entity to consolidate results of the Company; copies of the ultimate parent's accounts can be found at 1 quai du Point-du-Jour 92656 Boulogne-Billancourt Cedex, France.