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REGISTERED NUMBER: 13128850 (England and Wales)

GROUP STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

BIG LITTLE TECHNOLOGY LTD

BIG LITTLE TECHNOLOGY LTD (REGISTERED NUMBER: 13128850) |

CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS

For The Year Ended 31 March 2025

Page |

| Company Information | 1 |

| Group Strategic Report | 2 |

| Report of the Directors | 4 |

| Report of the Independent Auditors | 6 |

| Consolidated Statement of Comprehensive Income | 9 |

| Consolidated Balance Sheet | 10 |

| Company Balance Sheet | 11 |

| Consolidated Statement of Changes in Equity | 12 |

| Company Statement of Changes in Equity | 13 |

| Consolidated Cash Flow Statement | 14 |

| Notes to the Consolidated Cash Flow Statement | 15 |

| Notes to the Consolidated Financial Statements | 16 |

| BIG LITTLE TECHNOLOGY LTD |

COMPANY INFORMATION

For The Year Ended 31 March 2025

| DIRECTORS: | M S Holben

| A A D Hope

| G F S Jack

| E E Walder

| Freelands Directors Limited

| SECRETARY: | S Mills

| REGISTERED OFFICE: | 3rd Floor 1 Ashley Road

| Altrincham

| Cheshire

| WA14 2DT

| REGISTERED NUMBER: | 13128850 (England and Wales)

| AUDITORS: | TC Group

| 1 Rushmills

| Bedford Road

| Northampton

| Northamptonshire

| NN4 7YB

BIG LITTLE TECHNOLOGY LTD (REGISTERED NUMBER: 13128850) |

GROUP STRATEGIC REPORT

For The Year Ended 31 March 2025

The directors present their strategic report of the company and the group for the year ended 31 March 2025.

REVIEW OF BUSINESS

The impact of the 2023 Writers' Guild of America and SAG-AFTRA strikes in North America continued across the global screen sectors well into 2024. Whilst production had restarted by early 2024, the studios' supply of new content ready for post-production work has still not returned to pre-strike levels. However, the Group has signed a range of new agreements which will deliver a range of exciting and technology-led work in the coming months. The Directors are looking forward to steady growth in vfx sales during 2026 as trading conditions improve and interest grows in the company's innovative approach to digital content creation, including the use of games engines and generative AI workflows.

The Group has continued to manage its cost base carefully. The Directors have continued to reassess the industry outlook at frequent intervals and balance the need to mitigate the financial impact of the strikes with retaining talent to take advantage of the post-strike recovery.

PRINCIPAL RISKS AND UNCERTAINTIES

The principal risks and uncertainties facing the Group, as discussed by the Directors, are outlined below. This also includes a brief description of the strategies developed to mitigate any adverse impact if the risks were to materialise, and of how these risks or uncertainties have affected business performance in the year to 31 March 2025 and to date.

1. Commercial: Production activity does not return to its previous pre-strike levels, and demand from studios and streamers does not generate sufficient revenue to cover committed costs. This risk continued to affect performance during the first half of the financial year, but has been mitigated by scenario modelling, proactive cost management and a loan facility to support working capital requirements. The Group has retained positive cash balances.

2. Commercial: As with all creative work there is a risk of projects not being profitable e.g. due to incorrect pricing or changes to project scope or delivery date. These risks are mitigated by using a consistent and comprehensive bidding model, and building strong communication with clients to anticipate changes in advance of these occurring. This risk reduces as we return to higher volumes of work.

3. Commercial: Adverse publicity which would impact on reputation or brand. A perception of lower quality output could dissuade a studio from subsequent projects. However, the Group’s founders are well known in the sector with strong global relationships. The Group has also continued to invest during the period in outstanding creative and leadership talent.

4. Technology: There are other vfx companies working to automate vfx workflows and implement generative AI tools. If the Group does not establish itself early on with key clients as a thought leader and successful partner in this space, it could lose its distinct competitive advantage. The company is committed to development of these technologies. The successful deployment of them on recently commissioned work reflects the effectiveness of the company’s technology proposition.

5. Operational: Loss of key members of staff or the failure to recruit staff needed to deliver shows. Salary offers are made on a case by case basis taking into account the competitive environment at the time of hiring. The company was also set up as a remote first operation. Whilst staff often work from the companies’ offices, this flexibility is attractive to talent.

BIG LITTLE TECHNOLOGY LTD (REGISTERED NUMBER: 13128850) |

GROUP STRATEGIC REPORT

For The Year Ended 31 March 2025

KEY PERFORMANCE INDICATORS

The principal indicators of performance across the Group are Gross Margin % and EBITDA %. These are measured monthly in management reports to the Board on a single month, three month and six month trailing basis, as individual monthly performance can be affected by volatility in individual projects.

After a profitable year to July 2023, Gross margin and EBITDA were significantly impacted in the subsequent period by the Writers’ Guild of America and SAG-AFTRA strikes in 2023. The results for the year to 31 March 2025 reflect continuing difficult conditions in the first few months, but a return to better margins in the second half of the year.

| Year ended 31 March 2025 |  | Period ended 31 March 2024 |  | Year ended 31 July 2023 |

Gross Margin % |  | 40% |  | 28% |  | 46% |

EBITDA % |  | (8% | ) | (39% | ) | 7% |

ON BEHALF OF THE BOARD:

A A D Hope - Director

15 October 2025

BIG LITTLE TECHNOLOGY LTD (REGISTERED NUMBER: 13128850) |

REPORT OF THE DIRECTORS

For The Year Ended 31 March 2025

The directors present their report with the financial statements of the company and the group for the year ended 31 March 2025.

PRINCIPAL ACTIVITY

The principal activity of the group in the year under review was that of motion picture, video and television programme post-production activities.

DIVIDENDS

No dividends will be distributed for the year ended 31 March 2025.

RESEARCH AND DEVELOPMENT

New technology is an essential element of the Group’s offering to clients. The Group has a technology and engineering function which is focused on improving the VFX pipeline to enhance workflows and deliver files to clients with minimal friction.

FUTURE DEVELOPMENTS

The outlook for 2026 is positive, with a number of new contracts agreed and hiring at pace to resource the new slate of shows. The Directors are also confident that the company's core technology proposition of a real-time workflow and the implementation of generative AI workflows where appropriate, provide it with a significant opportunity in the rapidly evolving screen sector. With this and committed financial support including the loan note issued on 15 May 2024, the Directors conclude that it is appropriate to prepare the financial statements on the going concern basis.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 April 2024 to the date of this report.

M S Holben

A A D Hope

G F S Jack

E E Walder

Other changes in directors holding office are as follows:

M J Devereux - resigned 1 July 2024

Freelands Directors Limited - appointed 1 July 2024

FINANCIAL INSTRUMENTS

The group utilises various financial instruments including loans, cash and various items such as trade debtors and trade creditors that arise directly from its operations. The main purpose of these is to raise finance for the group's operations. The existence of these financial instruments exposes the group to a number of financial risks in addition to the commercial, operation and financial risks which are described in more detail in the Strategic Report.

BIG LITTLE TECHNOLOGY LTD (REGISTERED NUMBER: 13128850) |

REPORT OF THE DIRECTORS

For The Year Ended 31 March 2025

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

- | select suitable accounting policies and then apply them consistently;

- | make judgements and accounting estimates that are reasonable and prudent;

- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS

The auditors, TC Group, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

A A D Hope - Director

15 October 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

BIG LITTLE TECHNOLOGY LTD

Opinion

We have audited the financial statements of Big Little Technology Ltd (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 March 2025 which comprise the Consolidated Statement of Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

- | give a true and fair view of the state of the group's and of the parent company affairs as at 31 March 2025 and of the group's loss for the year then ended;

- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- | have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

- | the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- | the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

BIG LITTLE TECHNOLOGY LTD

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

- | adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

- | the parent company financial statements are not in agreement with the accounting records and returns; or

- | certain disclosures of directors' remuneration specified by law are not made; or

- | we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page five, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

BIG LITTLE TECHNOLOGY LTD

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We obtained an understanding of the legal and regulatory frameworks that are applicable to the company

and determined that the most significant frameworks which are directly relevant so specific assertions in the financial statements are those that relate to the reporting framework (UK GAAP and the Companies Act 2006) and the relevant tax compliance regulations in the UK.

We understood how the company is complying with those frameworks by making enquiries of management and those responsible for legal and compliance procedures. We corroborated our enquiries through review of board minutes and discussions with those charged with governance.

We assess the susceptibility of the company's financial statements to material misstatement, including how fraud might occur, by discussion with management from various parts of the business to understand where they considered there was a susceptibility to fraud. We considered the procedures and controls that the company has established to prevent and detect fraud, and how these are monitored by management, and also any enhanced risk factors such as performance targets.

Based on our understanding, we designed our audit procedures to identify any non-compliance with laws and regulations identified in the paragraphs above.

We also performed audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Emma Jones FCCA (Senior Statutory Auditor)

for and on behalf of TC Group

1 Rushmills

Bedford Road

Northampton

Northamptonshire

NN4 7YB

15 October 2025

BIG LITTLE TECHNOLOGY LTD (REGISTERED NUMBER: 13128850) |

CONSOLIDATED

STATEMENT OF COMPREHENSIVE

INCOME

For The Year Ended 31 March 2025

| Period

| 1.8.23

| Year ended |  | to

| 31.3.25 |  | 31.3.24

| Notes | £ | £ |

TURNOVER | 3 | 14,868,097 |  | 7,599,082 |  |

Cost of sales | 8,968,192 |  | 5,504,832 |  |

GROSS PROFIT | 5,899,905 |  | 2,094,250 |  |

Administrative expenses | 7,513,707 |  | 5,256,196 |  |

OPERATING LOSS | 5 | (1,613,802 | ) | (3,161,946 | ) |

Interest receivable and similar income | 5,952 |  | 1,055 |  |

Interest payable and similar expenses | 6 | (164,118 | ) | (188,126 | ) |

LOSS BEFORE TAXATION | (1,771,968 | ) | (3,349,017 | ) |

Tax on loss | 7 | (90,866 | ) | 123,041 |  |

LOSS FOR THE FINANCIAL YEAR | (1,681,102 | ) | (3,472,058 | ) |

OTHER COMPREHENSIVE INCOME |

Translation of foreign operations | 89,271 |  | (50,310 | ) |

Income tax relating to other comprehensive income | - |  | - |  |

OTHER COMPREHENSIVE INCOME FOR THE YEAR, NET OF INCOME TAX | 89,271 |  | (50,310 | ) |

TOTAL COMPREHENSIVE INCOME FOR THE YEAR | (1,591,831 | ) | (3,522,368 | ) |

Loss attributable to:

Owners of the parent | (1,681,102 | ) | (3,472,058 | ) |

Total comprehensive income attributable to:

Owners of the parent | (1,591,831 | ) | (3,522,368 | ) |

BIG LITTLE TECHNOLOGY LTD (REGISTERED NUMBER: 13128850) |

CONSOLIDATED BALANCE SHEET

31 March 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 9 | 1,011,155 |  | 988,878 |  |

Tangible assets | 10 | 134,074 |  | 135,634 |  |

Investments | 11 | 100,235 |  | 100,235 |  |

1,245,464 |  | 1,224,747 |  |

CURRENT ASSETS

Debtors | 12 | 2,617,230 |  | 2,778,508 |  |

Cash at bank | 3,208,478 |  | 1,649,955 |  |

5,825,708 |  | 4,428,463 |  |

CREDITORS

Amounts falling due within one year | 13 | 2,041,548 |  | 2,531,755 |  |

NET CURRENT ASSETS | 3,784,160 |  | 1,896,708 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 5,029,624 |  | 3,121,455 |  |

CREDITORS

Amounts falling due after more than one year | 14 | 3,500,000 |  | 4,000,000 |  |

NET ASSETS/(LIABILITIES) | 1,529,624 |  | (878,545 | ) |

CAPITAL AND RESERVES

Called up share capital | 17 | 1,019 |  | 744 |  |

Share premium | 18 | 7,999,501 |  | 3,999,776 |  |

Foreign exchange reserve | 18 | (133,410 | ) | (222,681 | ) |

Retained earnings | 18 | (6,337,486 | ) | (4,656,384 | ) |

SHAREHOLDERS' FUNDS | 1,529,624 |  | (878,545 | ) |

The financial statements were approved by the Board of Directors and authorised for issue on 15 October 2025 and were signed on its behalf by:

A A D Hope - Director

BIG LITTLE TECHNOLOGY LTD (REGISTERED NUMBER: 13128850) |

COMPANY BALANCE SHEET

31 March 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 9 | 974,405 |  | 940,401 |  |

Tangible assets | 10 | 110,084 |  | 93,507 |  |

Investments | 11 | 101,446 |  | 101,446 |  |

1,185,935 |  | 1,135,354 |  |

CURRENT ASSETS

Debtors | 12 | 3,828,432 |  | 2,986,041 |  |

Cash at bank | 731,178 |  | 165,613 |  |

4,559,610 |  | 3,151,654 |  |

CREDITORS

Amounts falling due within one year | 13 | 799,535 |  | 1,830,248 |  |

NET CURRENT ASSETS | 3,760,075 |  | 1,321,406 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 4,946,010 |  | 2,456,760 |  |

CREDITORS

Amounts falling due after more than one year | 14 | 3,500,000 |  | 4,000,000 |  |

NET ASSETS/(LIABILITIES) | 1,446,010 |  | (1,543,240 | ) |

CAPITAL AND RESERVES

Called up share capital | 17 | 1,019 |  | 744 |  |

Share premium | 18 | 7,999,501 |  | 3,999,776 |  |

Retained earnings | 18 | (6,554,510 | ) | (5,543,760 | ) |

SHAREHOLDERS' FUNDS | 1,446,010 |  | (1,543,240 | ) |

Company's loss for the financial year | (1,010,750 | ) | (3,451,555 | ) |

The financial statements were approved by the Board of Directors and authorised for issue on 15 October 2025 and were signed on its behalf by:

A A D Hope - Director

BIG LITTLE TECHNOLOGY LTD (REGISTERED NUMBER: 13128850) |

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

For The Year Ended 31 March 2025

| Called up |  | Foreign |

| share |  | Retained |  | Share |  | exchange |  | Total

| capital |  | earnings |  | premium |  | reserve |  | equity

£ | £ | £ | £ | £ |

Balance at 1 August 2023 | 744 |  | (1,184,326 | ) | 3,999,776 |  | (172,371 | ) | 2,643,823 |  |

Changes in equity

Total comprehensive income | - |  | (3,472,058 | ) | - |  | (50,310 | ) | (3,522,368 | ) |

Balance at 31 March 2024 | 744 |  | (4,656,384 | ) | 3,999,776 |  | (222,681 | ) | (878,545 | ) |

Changes in equity

Issue of share capital | 275 |  | - |  | 3,999,725 |  | - |  | 4,000,000 |  |

Total comprehensive income | - |  | (1,681,102 | ) | - |  | 89,271 |  | (1,591,831 | ) |

Balance at 31 March 2025 | 1,019 |  | (6,337,486 | ) | 7,999,501 |  | (133,410 | ) | 1,529,624 |  |

BIG LITTLE TECHNOLOGY LTD (REGISTERED NUMBER: 13128850) |

COMPANY STATEMENT OF CHANGES IN EQUITY

For The Year Ended 31 March 2025

| Called up |

| share |  | Retained |  | Share |  | Total

| capital |  | earnings |  | premium |  | equity

£ | £ | £ | £ |

Balance at 1 August 2023 | 744 |  | (2,092,205 | ) | 3,999,776 |  | 1,908,315 |  |

Changes in equity

Total comprehensive income | - |  | (3,451,555 | ) | - |  | (3,451,555 | ) |

Balance at 31 March 2024 | 744 |  | (5,543,760 | ) | 3,999,776 |  | (1,543,240 | ) |

Changes in equity

Issue of share capital | 275 |  | - |  | 3,999,725 |  | 4,000,000 |  |

Total comprehensive income | - |  | (1,010,750 | ) | - |  | (1,010,750 | ) |

Balance at 31 March 2025 | 1,019 |  | (6,554,510 | ) | 7,999,501 |  | 1,446,010 |  |

BIG LITTLE TECHNOLOGY LTD (REGISTERED NUMBER: 13128850) |

CONSOLIDATED CASH FLOW STATEMENT

For The Year Ended 31 March 2025

| Period

| 1.8.23

| Year ended |  | to

| 31.3.25 |  | 31.3.24

| Notes | £ | £ |

Cash flows from operating activities

Cash generated from operations | 1 | (1,541,225 | ) | (165,861 | ) |

Interest paid | (164,118 | ) | (188,126 | ) |

Tax paid | 105,110 |  | (126,276 | ) |

Net cash from operating activities | (1,600,233 | ) | (480,263 | ) |

Cash flows from investing activities

Purchase of intangible fixed assets | (298,051 | ) | (311,437 | ) |

Purchase of tangible fixed assets | (49,145 | ) | (83,350 | ) |

Purchase of fixed asset investments | - |  | (100,235 | ) |

Sale of tangible fixed assets | - |  | 224 |  |

Interest received | 5,952 |  | 1,055 |  |

Net cash from investing activities | (341,244 | ) | (493,743 | ) |

Cash flows from financing activities

New loans in year | 3,500,000 |  | - |  |

Loan repayments in year | (4,000,000 | ) | - |  |

Share issue | 4,000,000 |  | - |  |

Net cash from financing activities | 3,500,000 |  | - |  |

Increase/(decrease) in cash and cash equivalents | 1,558,523 |  | (974,006 | ) |

Cash and cash equivalents at beginning of year | 2 | 1,649,955 |  | 2,623,961 |  |

Cash and cash equivalents at end of year | 2 | 3,208,478 |  | 1,649,955 |  |

BIG LITTLE TECHNOLOGY LTD (REGISTERED NUMBER: 13128850) |

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT

For The Year Ended 31 March 2025

1. | RECONCILIATION OF LOSS BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

| Period

| 1.8.23

| Year ended |  | to

| 31.3.25 |  | 31.3.24

£ | £ |

| Loss before taxation | (1,771,968 | ) | (3,349,017 | ) |

| Depreciation charges | 315,429 |  | 188,710 |  |

| Exchange loss / (gain) | 100,320 |  | (52,232 | ) |

| Finance costs | 164,118 |  | 188,126 |  |

| Finance income | (5,952 | ) | (1,055 | ) |

(1,198,053 | ) | (3,025,468 | ) |

| Decrease in trade and other debtors | 152,494 |  | 2,517,506 |  |

| (Decrease)/increase in trade and other creditors | (495,666 | ) | 342,101 |  |

| Cash generated from operations | (1,541,225 | ) | (165,861 | ) |

2. | CASH AND CASH EQUIVALENTS

| The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

| Year ended 31 March 2025

| 31.3.25 |  | 1.4.24

£ | £ |

| Cash and cash equivalents | 3,208,478 |  | 1,649,955 |  |

| Period ended 31 March 2024

| 31.3.24 |  | 1.8.23

£ | £ |

| Cash and cash equivalents | 1,649,955 |  | 2,623,961 |  |

3. | ANALYSIS OF CHANGES IN NET DEBT

| At 1.4.24 | Cash flow | At 31.3.25

£ | £ | £ |

| Net cash |

| Cash at bank | 1,649,955 |  | 1,558,523 |  | 3,208,478 |  |

1,649,955 |  | 1,558,523 |  | 3,208,478 |  |

| Debt

| Debts falling due after 1 year | (4,000,000 | ) | 500,000 |  | (3,500,000 | ) |

(4,000,000 | ) | 500,000 |  | (3,500,000 | ) |

| Total | (2,350,045 | ) | 2,058,523 |  | (291,522 | ) |

BIG LITTLE TECHNOLOGY LTD (REGISTERED NUMBER: 13128850) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

For The Year Ended 31 March 2025

1. | STATUTORY INFORMATION

| Big Little Technology 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 General Information page.

| The main trading address for the Company is 2nd Floor, 30 Gresse Street, London, W1T 1QR.

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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

| The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires Group management to exercise judgement in applying the company's accounting policies.

| The Group's functional and presentational currency is GBP rounded to the nearest pound.

| Going concern

| The outlook for 2026 is positive, with a number of new contracts agreed and hiring at pace to resource the new slate of shows. The Directors are also confident that the company's core technology proposition of a real-time workflow and the implementation of generative AI workflows where appropriate, provide it with a significant opportunity in the rapidly evolving screen sector. With this and committed financial support including the loan note issued on 15 May 2024, the Directors conclude that it is appropriate to prepare the financial statements on the going concern basis.

BIG LITTLE TECHNOLOGY LTD (REGISTERED NUMBER: 13128850) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

For The Year Ended 31 March 2025

2. | ACCOUNTING POLICIES - continued

| Basis of consolidation

| The financial statements consolidate the accounts of Big Little Technology Ltd and its subsidiary undertakings from the date of their incorporation. A subsidiary is an entity controlled by the Group. Control is the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities. All intra-group transactions, balances, income and expenses are eliminated on consolidation. Currency differences that arise on translation of those functional currencies of the group that are not GBP have been recognised in Other Comprehensive Income.

| Parent company disclosures exemption

| In preparing the separate financial statements of the parent company, advantage has been taken

| of the following disclosure exemptions available in FRS 102:

| - Only one reconciliation of the number of shares outstanding at the beginning and end of the period has been presented as the reconciliations for the group and the parent company would be identical.

| Turnover

| Turnover comprises the invoiced value of services supplied by the Group, exclusive of value added tax and trade discounts, together with work undertaken on revenue contracts in progress where the value can be reliably estimated or has been certified but not yet invoiced to customers at the balance sheet date.

| Term contracts are assessed on a contract by contract basis and are reflected in the Statement of Comprehensive Income by recording turnover and related costs as contract activity progresses. Where the outcome of each contract can be assessed with reasonable certainty before its conclusion, the attributable profit is recognised in the Statement of Comprehensive Income as the difference between the reported turnover and related costs for that contract, with provisions being made for all foreseeable losses.

| Where turnover is recognised by reference to stage of completion, completed but un-invoiced, work on contracts in progress is recorded as accrued income within debtors. The debtors recorded are net of any progress payments received from customers. Amounts received from customers net of uninvoiced work in progress is recognised as deferred revenue.

| Significant judgements and estimates

| The group makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The directors do not consider that there are any estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year. Estimates include revenue recognition, capitalisation and amortisation of intangibles, shared based payments and convertible loans which are detailed within the accounting policies below.

BIG LITTLE TECHNOLOGY LTD (REGISTERED NUMBER: 13128850) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

For The Year Ended 31 March 2025

2. | ACCOUNTING POLICIES - continued

| Turnover

| Turnover comprises the invoiced value of services supplied by the Group, exclusive of value added tax and trade discounts, together with work undertaken on revenue contracts in progress where the value can be reliably estimated or has been certified but not yet invoiced to customers at the balance sheet date.

| Term contracts are assessed on a contract by contract basis and are reflected in the Statement of Comprehensive Income by recording turnover and related costs as contract activity progresses. Where the outcome of each contract can be assessed with reasonable certainty before its conclusion, the attributable profit is recognised in the Statement of Comprehensive Income as the difference between the reported turnover and related costs for that contract, with provisions being made for any foreseeable losses.

| Where turnover is recognised by reference to stage of completion, completed but un-invoiced, work on contracts in progress is recorded as accrued income within debtors. The debtors recorded are net of any progress payments received from customers. Amounts received from customers net of uninvoiced work in progress is recognised as deferred revenue.

| Intangible assets

| Externally acquired intangibles are initially recognised at cost and subsequently amortised on a straight-line basis over their useful economic lives.

| An internally generated intangible asset arising from development is recognised only when all of the following have been demonstrated by the group:

| - the ability to use the intangible asset

| - how the intangible asset will generate probable future economic benefits

| - the ability to measure reliably the expenditure attributable to the intangible assets during its

| development

| - technical feasibility of completing the intangible so that it is available for use or sale

| - intention to complete the development to use it or sell it

| - availability of adequate technical, financial and other resources to complete the development.

| The amount initially recognised for internally generated assets is the sum of the expenditure incurred from the date when the intangible assets meets the recognition criteria listed above. Where no internally generated intangible assets can be recognised, development expenditure is recognised in the Statement of Comprehensive Income in the period in which it is incurred.

| Subsequent to initial recognition, internally generated intangible assets are reported at cost less accumulated amortisation and accumulated impairment losses, on the same basis as intangible assets that are acquired separately.

| The estimated useful lives range as follows:

| Software licences - 5 years

| Computer software - 3-5 years

| Software development - 3 years

| The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

| Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised within 'administrative expenses' in the Statement of Comprehensive Income.

BIG LITTLE TECHNOLOGY LTD (REGISTERED NUMBER: 13128850) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

For The Year Ended 31 March 2025

2. | ACCOUNTING POLICIES - continued

| At each reporting date the Group assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the assets is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

| Tangible fixed assets

| Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

| Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following basis:

| - Computer equipment - 20 - 33% on cost

| - Fixtures and fitting - 20% on cost

| - Improvement to property - 25% on cost

| The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

| Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised within 'administrative expenses' in the Statement of Comprehensive Income.

| At each reporting date the Group assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying

| amount exceeds the recoverable amount.

BIG LITTLE TECHNOLOGY LTD (REGISTERED NUMBER: 13128850) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

For The Year Ended 31 March 2025

2. | ACCOUNTING POLICIES - continued

| Financial instruments

| Basic financial instruments

| The Company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, amounts owed to and from group undertakings and related parties, and investments in ordinary shares.

| Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

| Financial liabilities and equity are classified according to the substance of the financial instrument’s contractual obligations, rather than the financial instrument’s legal form. Financial liabilities, excluding convertible debt, are initially measured at transaction price (after deducting transaction costs) and subsequently held at amortised cost.

| Financial assets and liabilities are offset and 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.

| Convertible debt

| Convertible loans are recognised at inception date in accordance with the terms of the underlying instrument with the other party. At the inception date, the nature of the financing agreement is evaluated to determine whether its underlying form is that of debt, equity or has characteristics of both.

| Where such an instrument is deemed to have both a liability and equity component the liability component of the instrument is recognised in liabilities and the equity conversion component is assessed and evaluated as either being debt or equity. Equity conversion features that fail equity classification are accounted for as derivative liabilities and are accounted for separately from the host instrument. The liability element will be accounted for at amortised cost, with an embedded derivative liability being measured at fair value with changes in value being recorded in profit or loss. Fair value is measured by an appropriate valuation model.

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Statement of Comprehensive Income, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

| Current or deferred taxation assets and liabilities are not discounted.

| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

| Deferred tax

| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

| Research and development

| Expenditure on research and development is written off in the year in which it is incurred.

BIG LITTLE TECHNOLOGY LTD (REGISTERED NUMBER: 13128850) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

For The Year Ended 31 March 2025

2. | ACCOUNTING POLICIES - continued

| Foreign currencies

| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

| Pension costs and other post-retirement benefits

| Each entity within the group operates its own defined contribution pension scheme. Contributions payable to the pension scheme are charged to profit or loss in the period to which they relate.

| Share based payments

| The fair value of the share options awarded to employees is charged to the Statement of Comprehensive Income over the vesting period. Non-market vesting conditions are taken into account by adjusting the number of options expected to vest at each Balance Sheet date so that, ultimately, the cumulative amount recognised over the vesting period is based on the number of options that eventually vest. Market vesting conditions are factored into the fair value of the options granted.

| The fair value of the award also takes into account non-vesting conditions. These are either factors beyond the control of either party (such as a target based on an index) or factors which are within the control of one or other of the parties (such as the company keeping the scheme open or the employee maintaining any contributions required by the scheme).

| Where the terms and conditions of options are modified before they vest, the increase in the fair value of the options, measured immediately before and after the modification, is also charged to the Statement of Comprehensive Income over the remaining vesting period.

| Fixed asset investments

| Investments in subsidiary undertakings are recognised at cost less impairment.

3. | TURNOVER

| The turnover and loss before taxation are attributable to the one principal activity of the group.

| An analysis of turnover by geographical market is given below:

| Period

| 1.8.23

| Year ended |  | to

| 31.3.25 |  | 31.3.24

£ | £ |

| United Kingdom | 3,437,364 |  | 1,922,939 |  |

| Canada | 11,430,733 |  | 5,676,143 |  |

14,868,097 |  | 7,599,082 |  |

BIG LITTLE TECHNOLOGY LTD (REGISTERED NUMBER: 13128850) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

For The Year Ended 31 March 2025

4. | EMPLOYEES AND DIRECTORS

| Period

| 1.8.23

| Year ended |  | to

| 31.3.25 |  | 31.3.24

£ | £ |

| Wages and salaries | 9,735,613 |  | 6,366,478 |  |

| Social security costs | 456,584 |  | 399,446 |  |

| Other pension costs | 46,987 |  | 40,689 |  |

10,239,184 |  | 6,806,613 |  |

| The average number of employees during the year was as follows:

| Period

| 1.8.23

| Year ended |  | to

| 31.3.25 |  | 31.3.24

| Artists and supervisors | 123 |  | 98 |  |

| Show overhead & other support functions | 31 |  | 34 |  |

154 |  | 132 |  |

| The above average employee numbers are full time equivalents.

| Period

| 1.8.23

| Year ended |  | to

| 31.3.25 |  | 31.3.24

£ | £ |

| Directors' remuneration | 534,952 |  | 429,973 |  |

| Directors' pension contributions to money purchase schemes | 4,125 |  | 2,950 |  |

| Information regarding the highest paid director is as follows:

| Period

| 1.8.23

| Year ended |  | to

| 31.3.25 |  | 31.3.24

£ | £ |

| Emoluments etc | 163,811 |  | 110,668 |  |

BIG LITTLE TECHNOLOGY LTD (REGISTERED NUMBER: 13128850) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

For The Year Ended 31 March 2025

5. | OPERATING LOSS

| The operating loss is stated after charging/(crediting):

| Period

| 1.8.23

| Year ended |  | to

| 31.3.25 |  | 31.3.24

£ | £ |

| Other operating leases | 332,647 |  | 208,360 |  |

| Depreciation - owned assets | 48,034 |  | 46,073 |  |

| Software licences amortisation | 99,676 |  | 58,101 |  |

| Development costs amortisation | 162,287 |  | 79,933 |  |

| Computer software amortisation | 5,432 |  | 4,603 |  |

| Foreign exchange differences | 354,502 |  | (2,612 | ) |

| Auditors remuneration | 36,100 |  | 31,150 |  |

| Auditors remuneration - non-audit | 3,575 |  | 7,700 |  |

6. | INTEREST PAYABLE AND SIMILAR EXPENSES |

| Period

| 1.8.23

| Year ended |  | to

| 31.3.25 |  | 31.3.24

£ | £ |

| Loan | 164,118 |  | 188,126 |  |

7. | TAXATION

| Analysis of the tax (credit)/charge

| The tax (credit)/charge on the loss for the year was as follows:

| Period

| 1.8.23

| Year ended |  | to

| 31.3.25 |  | 31.3.24

£ | £ |

| Current tax:

| Overseas tax | (90,866 | ) | 123,041 |  |

| Tax on loss | (90,866 | ) | 123,041 |  |

| UK corporation tax has been charged at 25 % (2024 - 25 %).

BIG LITTLE TECHNOLOGY LTD (REGISTERED NUMBER: 13128850) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

For The Year Ended 31 March 2025

7. | TAXATION - continued

| Reconciliation of total tax (credit)/charge included in profit and loss

| The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

| Period

| 1.8.23

| Year ended |  | to

| 31.3.25 |  | 31.3.24

£ | £ |

| Loss before tax | (1,771,968 | ) | (3,349,017 | ) |

| Loss multiplied by the standard rate of corporation tax in the UK of 25 % (2024 - 25 %) | (442,992 | ) | (837,254 | ) |

| Effects of:

| Expenses not deductible for tax purposes | 749 |  | 737 |  |

| Capital allowances in excess of depreciation | (1,127 | ) | (7,192 | ) |

| Overseas tax | 99,438 |  | 97,406 |  |

| Tax losses carried forward | 253,066 |  | 869,344 |  |

| Total tax (credit)/charge | (90,866 | ) | 123,041 |  |

| Tax effects relating to effects of other comprehensive income |

| 2025 |

| Gross |  | Tax |  | Net |

£ | £ | £ |

| Translation of foreign operations | 89,271 |  | - |  | 89,271 |  |

| 1.8.23 to 31.3.24 |

| Gross |  | Tax |  | Net |

£ | £ | £ |

| Translation of foreign operations | (50,310 | ) | - |  | (50,310 | ) |

| No liability to UK corporation tax arose for the period ended 31 March 2025 nor the year ended 31 July 2024.

| The UK company has estimated trading losses of £6.8m (2024: £5.8m) available for carry forward against future trading profits.

| A deferred tax asset of £1.7m (2024: £1.4m) has not been provided due to the uncertainty of sufficient taxable profits in the foreseeable future.

8. | INDIVIDUAL STATEMENT OF COMPREHENSIVE INCOME

| As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.

BIG LITTLE TECHNOLOGY LTD (REGISTERED NUMBER: 13128850) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

For The Year Ended 31 March 2025

9. | INTANGIBLE FIXED ASSETS

| Group

| Software |  | Development |  | Computer |

| licences |  | costs |  | software |  | Totals

£ | £ | £ | £ |

| COST

| At 1 April 2024 | 393,438 |  | 827,987 |  | 28,163 |  | 1,249,588 |  |

| Additions | - |  | 286,071 |  | 11,980 |  | 298,051 |  |

| Disposals | (3,159 | ) | - |  | - |  | (3,159 | ) |

| Exchange differences | (4,723 | ) | - |  | (2,215 | ) | (6,938 | ) |

| At 31 March 2025 | 385,556 |  | 1,114,058 |  | 37,928 |  | 1,537,542 |  |

| AMORTISATION

| At 1 April 2024 | 174,919 |  | 79,933 |  | 5,858 |  | 260,710 |  |

| Amortisation for year | 99,676 |  | 162,287 |  | 5,432 |  | 267,395 |  |

| Exchange differences | (2,552 | ) | - |  | 834 |  | (1,718 | ) |

| At 31 March 2025 | 272,043 |  | 242,220 |  | 12,124 |  | 526,387 |  |

| NET BOOK VALUE

| At 31 March 2025 | 113,513 |  | 871,838 |  | 25,804 |  | 1,011,155 |  |

| At 31 March 2024 | 218,519 |  | 748,054 |  | 22,305 |  | 988,878 |  |

| Company

| Software |  | Development |

| licences |  | costs |  | Totals

£ | £ | £ |

| COST

| At 1 April 2024 | 334,426 |  | 827,987 |  | 1,162,413 |  |

| Additions | - |  | 286,071 |  | 286,071 |  |

| Disposals | (3,159 | ) | - |  | (3,159 | ) |

| At 31 March 2025 | 331,267 |  | 1,114,058 |  | 1,445,325 |  |

| AMORTISATION

| At 1 April 2024 | 142,079 |  | 79,933 |  | 222,012 |  |

| Amortisation for year | 86,621 |  | 162,287 |  | 248,908 |  |

| At 31 March 2025 | 228,700 |  | 242,220 |  | 470,920 |  |

| NET BOOK VALUE

| At 31 March 2025 | 102,567 |  | 871,838 |  | 974,405 |  |

| At 31 March 2024 | 192,347 |  | 748,054 |  | 940,401 |  |

BIG LITTLE TECHNOLOGY LTD (REGISTERED NUMBER: 13128850) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

For The Year Ended 31 March 2025

10. | TANGIBLE FIXED ASSETS

| Group

| Improvements |  | Fixtures |

| to |  | and |  | Computer |

| property |  | fittings |  | equipment |  | Totals

£ | £ | £ | £ |

| COST

| At 1 April 2024 | 64,131 |  | 66,399 |  | 70,987 |  | 201,517 |  |

| Additions | 27,678 |  | 4,010 |  | 17,457 |  | 49,145 |  |

| Exchange differences | (36 | ) | (3,309 | ) | (1,542 | ) | (4,887 | ) |

| At 31 March 2025 | 91,773 |  | 67,100 |  | 86,902 |  | 245,775 |  |

| DEPRECIATION

| At 1 April 2024 | 9,171 |  | 14,839 |  | 41,873 |  | 65,883 |  |

| Charge for year | 17,612 |  | 12,935 |  | 17,487 |  | 48,034 |  |

| Exchange differences | 25 |  | (974 | ) | (1,267 | ) | (2,216 | ) |

| At 31 March 2025 | 26,808 |  | 26,800 |  | 58,093 |  | 111,701 |  |

| NET BOOK VALUE

| At 31 March 2025 | 64,965 |  | 40,300 |  | 28,809 |  | 134,074 |  |

| At 31 March 2024 | 54,960 |  | 51,560 |  | 29,114 |  | 135,634 |  |

| Company

| Improvements |  | Fixtures |

| to |  | and |  | Computer |

| property |  | fittings |  | equipment |  | Totals

£ | £ | £ | £ |

| COST

| At 1 April 2024 | 61,828 |  | 38,322 |  | 13,130 |  | 113,280 |  |

| Additions | 27,678 |  | 3,472 |  | 17,457 |  | 48,607 |  |

| At 31 March 2025 | 89,506 |  | 41,794 |  | 30,587 |  | 161,887 |  |

| DEPRECIATION

| At 1 April 2024 | 8,205 |  | 6,442 |  | 5,126 |  | 19,773 |  |

| Charge for year | 17,187 |  | 8,008 |  | 6,835 |  | 32,030 |  |

| At 31 March 2025 | 25,392 |  | 14,450 |  | 11,961 |  | 51,803 |  |

| NET BOOK VALUE

| At 31 March 2025 | 64,114 |  | 27,344 |  | 18,626 |  | 110,084 |  |

| At 31 March 2024 | 53,623 |  | 31,880 |  | 8,004 |  | 93,507 |  |

BIG LITTLE TECHNOLOGY LTD (REGISTERED NUMBER: 13128850) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

For The Year Ended 31 March 2025

11. | FIXED ASSET INVESTMENTS

| Group |  | Company |

2025 | 2024 | 2025 | 2024 |

£ | £ | £ | £ |

| Shares in group undertakings | - |  | - |  | 1,211 |  | 1,211 |  |

| Other investments not loans | 100,235 |  | 100,235 |  | 100,235 |  | 100,235 |  |

100,235 |  | 100,235 |  | 101,446 |  | 101,446 |  |

| Additional information is as follows:

| Group

| Investments (neither listed nor unlisted) were as follows:

2025 | 2024 |

£ | £ |

| Other investments | 100,235 |  | 100,235 |  |

| Company

| Shares in

| group

| undertakings

£ |

| COST

| At 1 April 2024

| and 31 March 2025 | 1,211 |  |

| NET BOOK VALUE

| At 31 March 2025 | 1,211 |  |

| At 31 March 2024 | 1,211 |  |

| Investments (neither listed nor unlisted) were as follows:

2025 | 2024 |

£ | £ |

| Other investments | 100,235 |  | 100,235 |  |

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

| Subsidiaries

| Big Little Technology BC Inc

| Registered office: 225 - 1122 Mainland Street, Vancouver, BC, V6B 5L1, Canada

| Nature of business: Visual effects

| %

| Class of shares: | holding |

| Ordinary | 100.00 |

| Big Little Technology Quebec Inc

| Registered office: 3900-1 Place Ville Marie, Montréal (Québec), H3B 4M7, Canada

| Nature of business: Visual effects

| %

| Class of shares: | holding |

| Ordinary | 100.00 |

BIG LITTLE TECHNOLOGY LTD (REGISTERED NUMBER: 13128850) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

For The Year Ended 31 March 2025

11. | FIXED ASSET INVESTMENTS - continued

| beloFX India Private Ltd

| Registered office: 701 Chintamani Classique, Vishweshwar Nagar Road, Goregaon (East), Mumbai 400063, Maharashtra, India

| Nature of business: Visual effects

| %

| Class of shares: | holding |

| Ordinary | 99.99 |

| The other investment represents a 6% shareholding in Brave Duck and Roberts Ltd, registered office address: Unit I Arena Business Centre, 71, Ashfield Road, London, N4 1FF.

12. | DEBTORS

| Group |  | Company |

2025 | 2024 | 2025 | 2024 |

£ | £ | £ | £ |

| Amounts falling due within one year: |

| Trade debtors | 1,235,516 |  | 2,093,114 |  | 183,810 |  | 603,243 |  |

| Amounts owed by group undertakings | - |  | - |  | 3,221,688 |  | 1,939,753 |  |

| Tax | 28,771 |  | 37,555 |  | - |  | - |  |

| VAT | - |  | - |  | 30,029 |  | - |  |

| Accrued income | 1,004,566 |  | 231,261 |  | 171,715 |  | 207,827 |  |

| Prepayments | 243,877 |  | 315,325 |  | 162,690 |  | 176,718 |  |

2,512,730 |  | 2,677,255 |  | 3,769,932 |  | 2,927,541 |  |

| Amounts falling due after more than one | year: |

| Other debtors | 104,500 |  | 101,253 |  | 58,500 |  | 58,500 |  |

| Aggregate amounts | 2,617,230 |  | 2,778,508 |  | 3,828,432 |  | 2,986,041 |  |

13. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| Group |  | Company |

2025 | 2024 | 2025 | 2024 |

£ | £ | £ | £ |

| Trade creditors | 599,629 |  | 460,535 |  | 354,014 |  | 442,248 |  |

| Amounts owed to group undertakings | - |  | - |  | 74,149 |  | - |  |

| Corporation tax | 7,137 |  | 1,677 |  | - |  | - |  |

| Social security and other taxes | 364,845 |  | 263,106 |  | 111,045 |  | 114,278 |  |

| VAT | 79,795 |  | 219,242 |  | - |  | 75,280 |  |

| Other creditors | 456,267 |  | 1,926 |  | 35,165 |  | - |  |

| Accruals and deferred income | 533,875 |  | 1,585,269 |  | 225,162 |  | 1,198,442 |  |

2,041,548 |  | 2,531,755 |  | 799,535 |  | 1,830,248 |  |

BIG LITTLE TECHNOLOGY LTD (REGISTERED NUMBER: 13128850) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

For The Year Ended 31 March 2025

14. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

| Group |  | Company |

2025 | 2024 | 2025 | 2024 |

£ | £ | £ | £ |

| Other loans (see note 15) | 3,500,000 |  | 4,000,000 |  | 3,500,000 |  | 4,000,000 |  |

| On 15 May 2024, the company converted an outstanding loan note of £4,000,000 into equity, resulting in the issuance of 2,751,144 Class B shares.

| Other loans reflect the new loan note issued during the year for £3,500,000. Interest on this loan accrues at a rate of 4% plus the applicable daily Secured Overnight Financing Rate (SOFR), as published by the Federal Reserve Bank of New York. This loan note is due for repayment on 31 December 2026.

15. | LOANS

| An analysis of the maturity of loans is given below:

| Group |  | Company |

2025 | 2024 | 2025 | 2024 |

£ | £ | £ | £ |

| Amounts falling due between one and | two years: |

| Other loans - 1-2 years | 3,500,000 |  | - |  | 3,500,000 |  | - |  |

| Amounts falling due between two and | five years: |

| Other loans | - |  | 4,000,000 |  | - |  | 4,000,000 |  |

16. | LEASING AGREEMENTS

| Minimum lease payments fall due as follows:

| Group

| Non-cancellable |

| operating leases |

2025 | 2024 |

£ | £ |

| Within one year | 254,192 |  | 301,950 |  |

| Between one and five years | 307,136 |  | 556,165 |  |

561,328 |  | 858,115 |  |

| Leases are held in the Parent Company, Big Little Technology BC Inc and BeloFX India Private Ltd.

| Company

| Non-cancellable |

| operating leases |

2025 | 2024 |

£ | £ |

| Within one year | 97,500 |  | 117,000 |  |

| Between one and five years | - |  | 97,500 |  |

97,500 |  | 214,500 |  |

BIG LITTLE TECHNOLOGY LTD (REGISTERED NUMBER: 13128850) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

For The Year Ended 31 March 2025

17. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2025 | 2024 |

| value: | £ | £ |

| 5,200,000 | Ordinary A | 0.000 | 1 | 520 |  | 520 |  |

| 4,996,078 | Ordinary B | 0.000 | 1 | 499 |  | 224 |  |

1,019 |  | 744 |  |

| During the year 2,751,144 Ordinary B shares were issued with a nominal value of 0.0001 per share. The shares were issued in exchange for the £4,000,000 loan notes and therefore the nominal value fo £275 has been added to share capital and the residual £3,999,725 credited to share premium.

| The shares rank pari passu in all respects other than where liquidation, reduction of capital, dissolution, winding up or other return of capital of the company occurs.

18. | RESERVES

| Group

| Foreign |

| Retained |  | Share |  | exchange |

| earnings |  | premium |  | reserve |  | Totals

£ | £ | £ | £ |

| At 1 April 2024 | (4,656,384 | ) | 3,999,776 |  | (222,681 | ) | (879,289 | ) |

| Deficit for the year | (1,681,102 | ) | (1,681,102 | ) |

| Translation of foreign

| operations | - |  | - |  | 89,271 |  | 89,271 |  |

| Share issue | - |  | 3,999,725 |  | - |  | 3,999,725 |  |

| At 31 March 2025 | (6,337,486 | ) | 7,999,501 |  | (133,410 | ) | 1,528,605 |  |

| Company

| Retained |  | Share |

| earnings |  | premium |  | Totals

£ | £ | £ |

| At 1 April 2024 | (5,543,760 | ) | 3,999,776 |  | (1,543,984 | ) |

| Deficit for the year | (1,010,750 | ) | (1,010,750 | ) |

| Share issue | - |  | 3,999,725 |  | 3,999,725 |  |

| At 31 March 2025 | (6,554,510 | ) | 7,999,501 |  | 1,444,991 |  |

| Share premium

| This balance represents amounts received on share issue in excess of par.

| Foreign exchange reserve

| This balance represents cumulative differences arising on translation of foreign subsidiaries.

| Retained earnings

| This reserves represents cumulative losses.

BIG LITTLE TECHNOLOGY LTD (REGISTERED NUMBER: 13128850) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

For The Year Ended 31 March 2025

19. | PENSION COMMITMENTS

| The Group operates a defined contribution scheme. During the period the group contributed £46,987 (2024: £40,689). At the reporting date there were £9,286 (2024: £21,191) of outstanding contributions.

20. | 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.

| Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

| On 15 May 2024, the company converted an outstanding loan note of £4,000,000 to RFS II B LLC into equity, resulting in the issuance of 2,751,144 Class B shares.

| Included within creditors due after more than one year is a balance of £3,500,000 due to RFS II B LLC, a 49% shareholder of the Company. Interest of £164,118 (2024: £187,370) has been charged by RFS II B LLC. The closing balance of interest outstanding at the period end was £33,692 (2024: £241,453).

| During the year, a total of key management personnel compensation of £ 998,235 (2024 - £ 605,734 ) was paid.

21. | SHARE-BASED PAYMENT TRANSACTIONS

| On 1 April 2022, a share based remuneration scheme was set up by the Group. 662,000 options were granted during 2022 and 2023, of which 277,500 have now lapsed. Of the 384,500 remaining options, none had vested as at 31 March 2025. The options granted have a vesting period of 5 years from the grant date. Once vested, the share options are exercisable upon an exit event and must be exercised before the 10th anniversary of the grant date. The exercise price for the shares is 0.0001 pence.

| No charge has been made in the financial statements as the valuation of the share based payments is not deemed material due to the number of recipients and the collective minority holding.