Maestro Media Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 11996244

Maestro Media Limited

Filleted Financial Statements

31 December 2024

Maestro Media Limited

Statement of Financial Position

31 December 2024

	2024	2023
Note	£	£

Fixed assets

Intangible assets	5	3,545,333	3,961,882
Tangible assets	6	85,228	157,207
		------------	------------
		3,630,561	4,119,089

Current assets

Debtors	7	352,811	281,526
Cash at bank and in hand		1,906,631	2,963,520
		------------	------------
		2,259,442	3,245,046

Creditors: amounts falling due within one year	8	( 2,224,619)	( 3,602,579)
		------------	------------
Net current assets/(liabilities)		34,823	( 357,533)
		------------	------------
Total assets less current liabilities		3,665,384	3,761,556

Provisions	( 33,682)	( 30,073)
	------------	------------
Net assets	3,631,702	3,731,483
	------------	------------

Capital and reserves

Called up share capital	86,815	78,380
Share premium account	24,863,679	18,208,794
Other reserves	–	597,250
Profit and loss account	( 21,318,792)	( 15,152,941)
	-------------	-------------
Shareholders funds	3,631,702	3,731,483
	-------------	-------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements were approved by the board of directors and authorised for issue on 30 September 2025 , and are signed on behalf of the board by:

M Levine

Director

Company registration number: 11996244

Maestro Media Limited

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 14 New Warf Road, London, N1 9RT, England.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis. This assumes that the Company will continue in operational existence for the foreseeable future and will be able to realise its assets and discharge its liabilities in the normal course of business. Management has prepared cash flow forecasts which indicate that the Company does not currently have sufficient committed funding in place to meet its liabilities as they fall due for a period of at least 12 months from the date of approval of these financial statements. This condition indicates the existence of a material uncertainty which may cast significant doubt on the Company's ability to continue as a going concern. However, the Directors are confident that they will be able to secure additional funding through equity investment and debt financing and have a reasonable expectation that the Company will have adequate resources to continue in operational existence for the foreseeable future. Accordingly, the financial statements continue to be prepared on a going concern basis. If the accounts were not prepared on a going concern basis this may impact the carrying value of certain items on the balance sheet such as intangible fixed assets.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows: International Sales Tax Management is required to make significant judgements and estimates in determining the appropriate level of provision for international sales tax liabilities. These estimates involve assessing the likelihood, timing, and amount of potential obligations arising from: - Unfiled or late-filed tax returns - Underpaid or unpaid sales tax - Interest and penalties imposed by foreign tax authorities Intangible fixed assets Management determines the useful economic life of intangible assets arising from capitalised production costs based on expected usage, lifecycle, legal or contractual limits, technological change, and historical experience with similar assets. These estimates are reviewed annually and adjusted if circumstances change. Typical useful lives range from 2 to 10 years depending on the nature of the asset.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for content services rendered, stated net of discounts and of Value Added Tax.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

Capitalised platform and production costs	-	2 - 10 years
Production advances	-	`As royalties become due`

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Leasehold improvements	-	20% straight line
Plant and machinery	-	50% straight line
Computer Equipment	-	50% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 39 (2023: 43 ).

5. Intangible assets

	Capitalised platform and production costs	Production advances	Total
	£	£	£
Cost
At 1 January 2024	4,983,923	3,383,593	8,367,516
Additions	1,468,703	471,149	1,939,852
	------------	------------	-------------
At 31 December 2024	6,452,626	3,854,742	10,307,368
	------------	------------	-------------
Amortisation
At 1 January 2024	2,663,398	1,742,236	4,405,634
Charge for the year	1,678,718	677,683	2,356,401
	------------	------------	-------------
At 31 December 2024	4,342,116	2,419,919	6,762,035
	------------	------------	-------------
Carrying amount
At 31 December 2024	2,110,510	1,434,823	3,545,333
	------------	------------	-------------
At 31 December 2023	2,320,525	1,641,357	3,961,882
	------------	------------	-------------

6. Tangible assets

	Leasehold improvements	Plant and machinery	Computer Equipment	Total
	£	£	£	£
Cost
At 1 January 2024	120,996	89,218	75,574	285,788
Additions	–	1,555	7,280	8,835
	---------	--------	--------	---------
At 31 December 2024	120,996	90,773	82,854	294,623
	---------	--------	--------	---------
Depreciation
At 1 January 2024	20,641	69,990	37,950	128,581
Charge for the year	36,549	15,635	28,630	80,814
	---------	--------	--------	---------
At 31 December 2024	57,190	85,625	66,580	209,395
	---------	--------	--------	---------
Carrying amount
At 31 December 2024	63,806	5,148	16,274	85,228
	---------	--------	--------	---------
At 31 December 2023	100,355	19,228	37,624	157,207
	---------	--------	--------	---------

7. Debtors

	2024	2023
	£	£
Trade debtors	91,113	18,062
Other debtors	261,698	263,464
	---------	---------
	352,811	281,526
	---------	---------

8. Creditors: amounts falling due within one year

	2024	2023
	£	£
Convertible loan note	–	1,721,994
Trade creditors	196,537	276,518
Accruals and deferred income	562,425	672,153
Social security and other taxes	728,185	582,621
Other creditors	737,472	349,293
	------------	------------
	2,224,619	3,602,579
	------------	------------

In the year ended 31 December 2023 the company issued convertible loan notes totalling £1,721,994, bearing interest at 0%. During the year ended 31 December 2024, these fully converted into equity in line with the terms of the loan notes.

9. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2024	2023
	£	£
Not later than 1 year	69,939	19,518
Later than 1 year and not later than 5 years	113,798	152,237
	---------	---------
	183,737	171,755
	---------	---------

10. Other financial commitments

As at 31 December 2024 the company had no capital commitments or contracts for capital expenditure in place in the year (31 December 2023: Nil).

11. Summary audit opinion

The auditor's report dated 30 September 2025 contained an emphasis of matter in respect of a material uncertainty related to going concern. As stated in note 3, the Company's ability to remain a going concern is contingent on the Company securing additional funding through equity investment and debt financing. In the absence of this secured funding, the conditions indicate that a material uncertainty exists that may cast significant doubt on the company's ability to continue as a going concern . The audit opinion is not modified in respect of this matter.

The senior statutory auditor was Tim Hardy , for and on behalf of Moore Kingston Smith LLP .

12. Directors' advances, credits and guarantees

Within other debtors there are amounts advanced to directors totalling £93,750 (2023:£93,750) accruing interest at 2.25%. The receivable is deemed to be current.

13. Related party transactions

Management have considered related party transactions undertaken in the year and do not consider there to be any transactions to require disclosure under FRS102 Section 1A.