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Company Registration No. 3832651 (England and Wales)
Westminster Live Limited Unaudited accounts for the year ended 31 December 2024
Westminster Live Limited Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
- 2 -
Westminster Live Limited Company Information for the year ended 31 December 2024
Directors
V Nikolaidis C Barton
Company Number
3832651 (England and Wales)
Registered Office
Flat 9 46 Tregunter Road London London SW10 9LE England
Accountants
Financial and Accounting Solutions 6 Hadleigh Close Harrow Middlesex HA2 8FA
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Westminster Live Limited Statement of financial position as at 31 December 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
4
207,299 
268,262 
Investments
5
- 
6,590 
207,299 
274,852 
Current assets
Debtors
6
393,504 
406,170 
Cash at bank and in hand
44,379 
381,123 
437,883 
787,293 
Creditors: amounts falling due within one year
7
(22,662)
(67,815)
Net current assets
415,221 
719,478 
Total assets less current liabilities
622,520 
994,330 
Creditors: amounts falling due after more than one year
8
(1,151)
(1,743)
Provisions for liabilities
Deferred tax
(46,244)
(37,148)
Net assets
575,125 
955,439 
Capital and reserves
Called up share capital
156 
156 
Profit and loss account
574,969 
955,283 
Shareholders' funds
575,125 
955,439 
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 29 October 2025 and were signed on its behalf by
V Nikolaidis Director Company Registration No. 3832651
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Westminster Live Limited Notes to the Accounts for the year ended 31 December 2024
1
Statutory information
Westminster Live Limited is a private company, limited by shares, registered in England and Wales, registration number 3832651. The registered office is Flat 9, 46 Tregunter Road, London, London, SW10 9LE, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25%
Fixtures & fittings
25%
Computer equipment
25%
Going concern
The directors assess whether the use of going concern is appropriate i.e., whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the company to continue as a going concern. The company is facing financial and operational hardships with the liquidation of Camelot Gmbh and the loss of its temporary studio. Despite the existing material uncertainty which has cast significant doubt on the Company’s ability to continue as a going concern, the Directors have determined that the company remains a going concern over the period of assessment. as they believe they are taking significant steps to reinvent the business, including being in talks with the AI company in Switzerland over the last few years. The directors have been discussing the provision of AI services to news studio producers worldwide using Westminster Live with its contacts and customers to begin, but with a far bigger industry scope in the longer run. The AI products being discussed involve: AI set design and virtual studio control AI scriptwriting and editorial research AI news bulletin production AI avatars for anchoring and voiceovers. However, in order to meet its planned corporate and exploration activity expenditure, additional time and funding will be required over the period of assessment, and this will be supported by the directors over the next 12 months.
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Westminster Live Limited Notes to the Accounts for the year ended 31 December 2024
4
Tangible fixed assets
Plant & machinery 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 January 2024
1,872,199 
210,961 
215,713 
2,298,873 
Additions
- 
- 
8,408 
8,408 
At 31 December 2024
1,872,199 
210,961 
224,121 
2,307,281 
Depreciation
At 1 January 2024
1,752,765 
195,138 
82,708 
2,030,611 
Charge for the year
30,292 
3,925 
35,154 
69,371 
At 31 December 2024
1,783,057 
199,063 
117,862 
2,099,982 
Net book value
At 31 December 2024
89,142 
11,898 
106,259 
207,299 
At 31 December 2023
119,434 
15,823 
133,005 
268,262 
5
Investments
Other investments 
£ 
Valuation at 1 January 2024
6,590 
Fair value adjustments
(6,590)
Valuation at 31 December 2024
- 
The company has invested funds in Global Study Technology Limited and holds 279 shares These shares have no value in the open market, and have now been written off .
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
7,792 
156,235 
Accrued income and prepayments
18,948 
55,409 
Other debtors
188,263 
59,209 
215,003 
270,853 
Amounts falling due after more than one year
Accrued income and prepayments
6,118 
- 
Other debtors
172,383 
135,317 
178,501 
135,317 
- 6 -
Westminster Live Limited Notes to the Accounts for the year ended 31 December 2024
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
860 
12,037 
Trade creditors
- 
34,343 
Taxes and social security
4,331 
7,295 
Other creditors
134 
3,160 
Accruals
17,337 
10,980 
22,662 
67,815 
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Other creditors
1,151 
1,743 
9
Transactions with related parties
During the year the company traded with Picture Connect Limited (PCL) which provided services to the value of £51,000 (YE 31/12/23 - £102,000) , at the year end the amount owed by PCL was £160,200 (YE 31/12/23 - £110,000). During the year the company traded with Camelot Broadcast Services GmbH which provided services to the value of £Nil (YE 31/12/23 - £ 252,325) , at the year end the amount owed by Camelot Broadcast Services GmbH was £167,222(YE 31/12/23 - £72,655) These companies are linked to each other by a common director and shareholder .
10
Post balance sheet events
One of the company's clients Camelot Broadcasting Services Gmbh has gone into liquidation and it is unlikely that the company will receive a full sum of £167,222 due from this company. A sum of £160,200 is also due from Picture Connect Limited , which has also been significantly affected by the liquidation of Camelot Gmbh. We have been made aware that there is a claim being made with the liquidators and that WML is likely to receive a substantial balance of the outstanding amount. This has put a significant cash flow constraint on the company, which the company believes is temporary. The company has given up its temporary studio premises and is in the process of looking at options to re align the business with the use of AI and other available resources and believes it will be able to do so in the next 12 months.
11
Average number of employees
During the year the average number of employees was 2 (2023: 6).
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