REGISTERED NUMBER: 06361694 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Frequency Media Ltd.

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr C P Eaton LLB (Hons) C Dir

Mr J C Pendleton TEP

REGISTERED OFFICE:

Monomark House

27 Old Gloucester Street

London

WC1N 3AX

REGISTERED NUMBER:

06361694 (England and Wales)

ACCOUNTANTS:

ILS Fiduciaries (IOM) Limited

First Floor

Millennium House

Victoria Road

Douglas

Isle of Man

IM2 4RW

CURRENT ASSETS

Debtors

5

503,751

500,396

CREDITORS

Amounts falling due within one year

6

580,159

569,228

NET CURRENT LIABILITIES

(76,408

)

(68,832

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(76,408

)

(68,832

)

CAPITAL AND RESERVES

Called up share capital

7

2

2

Retained earnings

8

(76,410

)

(68,834

)

SHAREHOLDERS' FUNDS

(76,408

)

(68,832

)

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 29 September 2025 and were signed on its behalf by:

Mr J C Pendleton TEP - Director

1.	STATUTORY INFORMATION

Frequency Media 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.

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.

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 shareholder 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.

3.	EMPLOYEES AND DIRECTORS

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

4.	INTANGIBLE FIXED ASSETS

Goodwill

$

COST

Additions

525,000

Disposals

(525,000

)

At 31 December 2024

-

NET BOOK VALUE

At 31 December 2024

-

During the financial year the company entered into two licence agreements to acquire world wide rights excluding the U.S. territory and Canada. During the year the company transferred the licence agreements to these rights at cost.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

$

$

Prepayments

127

98

Loan Pixl Entertainment LLC

503,624

500,298

503,751

500,396

The loans to Pixl Entertainment LLC are unsecured, bear interest at a rate of 0.75% per annum and are repayable on demand.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

$

$

Trade creditors

775

-

Shareholder loan

577,058

569,228

Accruals

2,326

-

580,159

569,228

The loan from the shareholder is unsecured, interest-free and without a specified repayment date.

7.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

2024

2023

value:

$

$

1

Ordinary

£1

2

2

8.

RESERVES

Retained

earnings

$

At 1 January 2024

(68,834

)

Deficit for the year

(7,576

)

At 31 December 2024

(76,410

)

9.	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.

10.	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.