Media Releasing International Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: 04031974 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Media Releasing International Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr L Levinson

Mr J C Pendleton TEP

SECRETARY:

Third Clifton Nominees Limited

REGISTERED OFFICE:

19 The Circle,

Queen Elizabeth Street

London

SE1 2JE

REGISTERED NUMBER:

04031974 (England and Wales)

ACCOUNTANTS:

ILS Fiduciaries (IOM) Limited

First Floor

Millennium House

Victoria Road

Douglas

Isle of Man

IM2 4RW

FIXED ASSETS

Intangible assets

4

-

654,159

Tangible assets

5

-

Investments

6

-

654,159

CURRENT ASSETS

Debtors

7

1,507,951

1,402,371

Cash at bank

1,394,144

719,657

2,902,095

2,122,028

CREDITORS

Amounts falling due within one year

8

19,425,963

18,554,859

NET CURRENT LIABILITIES

(16,523,868

)

(16,432,831

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(16,523,868

)

(15,778,672

)

CAPITAL AND RESERVES

Called up share capital

9

1,699

Share premium

10

1,383

Retained earnings

10

(16,526,950

)

(15,781,754

)

SHAREHOLDERS' FUNDS

(16,523,868

)

(15,778,672

)

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 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2025 and were signed on its behalf by:

Mr J C Pendleton TEP - Director

1.	STATUTORY INFORMATION

Media Releasing International Ltd 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.

The presentation currency of the financial statements is the US Dollar ($).

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 fixed assets - film rights

Film rights are included at cost and are amortised over the useful economic life of the asset by reference to the total projected income earned from the exploitation of these rights. The method used to calculate amortisation is the double declining method over a 10 year period for the purpose of providing a true and fair view.

Intangible fixed assets - film scripts

Film scripts are included at their historical cost. For the purpose of providing a true and fair view, no amortisation is charged as it is apparent the film scripts are not attracting any benefit at present. The carrying value is reviewed on an annual basis for any impairment.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

Foreign currencies

Assets and liabilities in foreign currencies, with the exception of share capital, are translated into United States Dollars at the rates of exchange ruling at the balance sheet date. Share capital is translated at the historical rate. Transactions in foreign currencies are translated into United States Dollars at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Going concern

The financial statements have been prepared on a going concern basis notwithstanding the excess of liabilities over assets as the directors believe the beneficial owner will continue to make adequate funds available to enable the company to meet its liabilities as and when they fall due. The directors have no reason to believe that financial support will not continue in the future and considered it appropriate to adopt a going concern basis. The accounts do not contain any adjustments that would be necessary should this basis not be appropriate.

Financial instruments

The company only enters into basic financial transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, and loans from or to banks and related parties. Debt instruments that are payable or receivable within one year (typically loans, trade debtors and creditors) or that bear interest at a commercial rate and are payable or receivable after more than one year, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid. Basic financial instruments that are due after one year or financed at a rate of interest that is not at market rate should be measured at amortised cost. The amortised cost has not been calculated. This policy deviates from the requirements of Section 11 of FRS102, however under Section 1A of FRS102 the company is not required to apply section 11 unless it were to prevent the financial statements from giving a true and fair view of the financial position and profit and loss of the entity for the reporting period. The directors have determined that the deviation from the standard will not materially affect the financial statements and therefore have opted not to calculate and disclose financial instruments at amortised cost.

3.	EMPLOYEES AND DIRECTORS

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

4.	INTANGIBLE FIXED ASSETS

Film

Production

rights

investments

Totals

$

COST

At 1 January 2024

and 31 December 2024

83,693,366

2,250,000

85,943,366

AMORTISATION

At 1 January 2024

83,186,663

2,102,544

85,289,207

Amortisation for year

506,703

147,456

654,159

At 31 December 2024

83,693,366

2,250,000

85,943,366

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

506,703

147,456

654,159

5.	TANGIBLE FIXED ASSETS

Computer

equipment

$

COST

At 1 January 2024

1,626

Disposals

(489

)

At 31 December 2024

1,137

DEPRECIATION

At 1 January 2024

1,626

Eliminated on disposal

(489

)

At 31 December 2024

1,137

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

$

COST

At 1 January 2024

60,000

Disposals

(5,000

)

At 31 December 2024

55,000

PROVISIONS

At 1 January 2024

60,000

Eliminated on disposal

(5,000

)

At 31 December 2024

55,000

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Stonewerks Entertainment, Inc.

Registered office: Nevada, United States of America

Nature of business: Consultancy Service

%

Class of shares:

holding

Ordinary

100.00

31.12.24

31.12.23

$

Aggregate capital and reserves

(3,471,940

)

(3,172,688

)

Loss for the year

(299,252

)

(382,492

)

Mediapool, LLC

Registered office: Nevada, United States of America

Nature of business: Film production and distribution

%

Class of shares:

holding

Ordinary

100.00

31.12.24

31.12.23

$

Aggregate capital and reserves

(1,853,121

)

(1,887,129

)

(Loss)/profit for the year

(24,951

)

1,184

The company previously held 100% of the shares in Kalo Media LLC. On 25 November 2024 Kalo Media LLC was dissolved and removed from the Nevada companies register.

In previous financial years provisions were made to fully impair the fixed asset investments due to the negative equity reflected in their respective financial statements.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

$

Trade debtors

663,393

10,901

Amounts owed by related companies

30,041

128,512

Prepayments

430,749

68,859

VAT

741

39,749

Accrued income

383,027

1,154,350

1,507,951

1,402,371

The amounts owed by related parties are unsecured, interest-free and repayable on demand. During the year an amount of $8,651 was written off upon dissolution of Kalo Media LLC.

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

$

Trade creditors

10,142,883

9,125,486

Sundry creditors

-

49,537

Impairment provision for amoun

ts owed to other creditors

-

(3,150,424

)

Amounts owed to related companies

687,761

1,555,532

Amounts owed to related parties under co

3,271,615

3,223,978

Amounts owed to other creditors

2,514,123

5,555,776

Accruals

2,041,166

2,007,752

Deferred income

768,415

187,222

19,425,963

18,554,859

The amounts owed to related companies are unsecured, interest free and have no fixed date for repayment.

Amounts owed to related parties under common control includes unsecured loans of $2,250,000 (2023: $2,250,000) which are subject to 4.15% interest per annum, are unsecured and have no specified repayment date. The remaining amounts are unsecured, interest free and have no specified repayment dates.

Amounts owed to other creditors contains a credit facility of $1,550,000 (2023: $1,550,000) which is unsecured and subject to 1% interest per annum, accruing daily until repayment; there is no fixed date for repayment. The remaining amounts owed to other creditors are unsecured, interest free and have no specified repayment dates.

During the year, previously impaired amounts due to other creditors were written off following dissolution of the creditor companies.

9.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

2024

2023

value:

$

1,000

Ordinary

£1

1,699

10.

RESERVES

Retained

Share

earnings

premium

Totals

$

At 1 January 2024

(15,781,754

)

1,383

(15,780,371

)

Deficit for the year

(745,196

)

(745,196

)

At 31 December 2024

(16,526,950

)

1,383

(16,525,567

)

11.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

The following transactions with related parties occurred during the year ended 31 December 2024:

Name

Nature of
relationship

Nature of
transaction

Volume of
transactions
$

Debit/(credit)
balances at 31
December
2024 $

Debit/(credit)
balances at 31
December 2023
$

United Releasing
International Limited

Common control

Financing

180

22,203

22,023

Greystoke
Entertainment Inc

Common control

Financing

-

20,000

LLP Productions
Services

Common control

Financing

(47,636

(3,271,615

)

(3,223,978

)

PixL Entertainment
LLC

Related party

Trading

49,770

297,582

247,812

Pixl Entertainment LLC

Related party

Financing

-

250,000

(250,000

)

12.	POST BALANCE SHEET EVENTS

The effect of events relating to the year ended 31 December 2024, which occurred before the date of approval of the financial statements by the directors, have been included to the extent required to show a true and fair view of the state of affairs at 31 December 2024 and of the results of the year ended on that date.

13.	ULTIMATE CONTROLLING PARTY

The controlling party is Alpine Copyright Limited.

The ultimate controlling party is United Releasing InternationalLimited.