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Registered number: 15787616 ER PRODUCTIONS TRADING GROUP LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025
ER PRODUCTIONS TRADING GROUP LIMITED COMPANY INFORMATION
Directors | M E L Webber (appointed 19 June 2024)
| C A Morgan (appointed 26 September 2024)
| F C Lowry (appointed 26 September 2024)
| R K Hagan (appointed 19 June 2024)
Registered number | 15787616
Registered office | Unit G, Panorama
| Bridge Close
| Dartford
| Kent
| DA2 6QP
Independent auditor | Barnes Roffe Audit Limited
| Chartered Accountants & Statutory Auditor
| Charles Lake House
| Claire Causeway
| Crossways Business Park
| Dartford
| Kent
| DA2 6QA
ER PRODUCTIONS TRADING GROUP LIMITED CONTENTS
| Page
Group strategic report | 1
Directors' report | 2 - 3
Independent auditor's report | 4 - 8
Consolidated statement of comprehensive income | 9 - 10
Consolidated balance sheet | 11 - 12
Company balance sheet | 13
Consolidated statement of changes in equity | 14 - 15
Company statement of changes in equity | 16
Consolidated statement of cash flows | 17 - 18
Consolidated analysis of net debt | 19
Notes to the financial statements | 20 - 43
ER PRODUCTIONS TRADING GROUP LIMITED GROUP STRATEGIC REPORT FOR THE YEAR ENDED 31 JANUARY 2025
Introduction
The directors present their strategic report for the year ended 31 January 2025.
Business review
The group has continued to invest in equipment and new technology, both SFX rental fleet and manufacturing capability, and staffing to ensure the directors vision for growth is achievable. This vision of growth is driven not only by the demand in the UK but also in its core markets around the world. It continues to scale up its global locations to provide best-in-class service consistently at each location it serves and in tandem is progressively diversifying into other product areas. ER Productions ultimately aims to be the world's best SFX service provider. This year has seen a significant change in the group with the decision being made by the directors to seek outside financing to enable them to achieve their vision. After a lengthy process the British Growth Fund were considered to be ideal partners to ensure the vision was met. This vision led to a decision being made to streamline the group to just focus on SFX rental and manufacturing and as such the decision was made to de merge the property company ER Living Limited into a new group and to acquire the US operations that were originally outside of the group. Further details are provided under the Business Combination notes.
Principal risks and uncertainties
The group's principal risk relates to the status of the entertainment industry and the demand for tours. In addition the company is subject to fluctating foreign exhchange rates. The directors of the company continually monitor these risks.
Financial key performance indicators
As referred to in the Business review the key perfomance indicator used by the company is that of EBITDA along with turnover. This report was approved by the board on 13 November 2025 and signed on its behalf.
M E L Webber Director
Page 1
ER PRODUCTIONS TRADING GROUP LIMITED DIRECTORS' REPORT FOR THE YEAR ENDED 31 JANUARY 2025 The directors present their report and the financial statements for the year ended 31 January 2025.
Directors' responsibilities statement
The directors are responsible for preparing the Group strategic report, the Directors' report and the consolidated 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 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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 for the group's financial statements and then apply them consistently; ∙make judgments 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 group will continue in business. The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and to 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.
Results and dividends
The profit for the year, after taxation and minority interests, amounted to £279,987 (2024 - £2,751,836). During the year dividends amounting to £2,536,151 (2024: £1,667,541) were voted.
Directors
The directors who served during the year were:
M E L Webber (appointed 19 June 2024)
C A Morgan (appointed 26 September 2024)
F C Lowry (appointed 26 September 2024)
R K Hagan (appointed 19 June 2024)
Disclosure of information to auditor
Each of the persons who are directors at the time when this Directors' report is approved has confirmed that: ∙so far as the director is aware, there is no relevant audit information of which the company and the group's auditor is unaware, and ∙the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the company and the group's auditor is aware of that information. Page 2
ER PRODUCTIONS TRADING GROUP LIMITED DIRECTORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2025
Auditor
The auditor, Barnes Roffe Audit Limited, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006. This report was approved by the board and signed on its behalf.
M E L Webber Director
Date: 13 November 2025
Page 3
ER PRODUCTIONS TRADING GROUP LIMITED INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ER PRODUCTIONS TRADING GROUP LIMITED
Opinion
We have audited the financial statements of ER Productions Trading Group Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 January 2025, which comprise the Consolidated statement of comprehensive income, the , the Consolidated Balance Sheet, the Company Balance Sheet, the Consolidated Statement of Cash Flows, the Consolidated Statement of Changes in Equity, the Company Statement of Changes in Equity and the related notes, 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's affairs as at 31 January 2025 and of the group's profit 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 Auditor's 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 United Kingdom, including the Financial Reporting Council'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 or 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. Page 4
ER PRODUCTIONS TRADING GROUP LIMITED INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ER PRODUCTIONS TRADING GROUP LIMITED (CONTINUED)
Other information
The other information comprises the information included in the Annual Report other than the financial statements and our Auditor's report thereon. The directors are responsible for the other information contained within the Annual Report. 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. 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 course of 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.
Opinion 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 Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and ∙the Group strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.
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 Directors' report. We have nothing to report in respect of the following matters in relation to which 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. Page 5
ER PRODUCTIONS TRADING GROUP LIMITED INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ER PRODUCTIONS TRADING GROUP LIMITED (CONTINUED)
Responsibilities of directors
As explained more fully in the Directors' responsibilities statement set out on page 2, 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 is 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. Page 6
ER PRODUCTIONS TRADING GROUP LIMITED INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ER PRODUCTIONS TRADING GROUP LIMITED (CONTINUED)
Auditor's 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 an Auditor's report 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 Group 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: Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with law and regulations, was as follows: • The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations; • We identified the laws and regulations applicable to the company through discussion with directors and other management, and from our commercial knowledge and experience of the relevant sector; • The specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, are as follows; o Companies Act 2006 o FRS102 o Health and Safety legislation o Employment legislation o Tax legislation • We assessed the compliance with the laws and regulations identified above through making enquiries of management, reviewing board minutes, inspecting certificates of compliance and inspecting legal correspondence; and • Laws and regulations were communicated within the audit team at the planning meeting, and during the audit as any further laws and regulation were identified. The audit team remained alert to instances of non-compliance throughout the audit. We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur by: • Making enquires of management as to where they consider there was susceptibility to fraud and their knowledge of actual suspected and alleged fraud; • Considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations; • Reviewing the financial statements and testing the disclosures against supporting documentation; • Performing analytical procedures to identify any unusual or unexpected trends or anomalies; • Inspecting and testing journal entries to identify unusual or unexpected transactions; • Assessing whether judgement and assumptions made in determining significant accounting estimates were indicative of management bias; and • Investigating the rationale behind significant transactions, or transactions that are unusual or outside the company’s usual course of business. Page 7
ER PRODUCTIONS TRADING GROUP LIMITED INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ER PRODUCTIONS TRADING GROUP LIMITED (CONTINUED) The areas that we identified as being susceptible to misstatement through fraud were: • Management bias in the estimates and judgements made; • Management override of controls; • Revenue recognition; and • Posting of unusual journals or transactions. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. 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 Auditor's report.
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 an Auditor's report 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. Jamie Hall (Senior statutory auditor) for and on behalf of Barnes Roffe Audit Limited Chartered Accountants Statutory Auditor Charles Lake House Claire Causeway Crossways Business Park Dartford Kent DA2 6QA 14 November 2025 Page 8
ER PRODUCTIONS TRADING GROUP LIMITED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 JANUARY 2025
| Continuing operations | Discontin'd operations | Total | Continuing operations | Discontinued operations | Total
| 2025 | 2025 | 2025 | 2024 | 2024 | 2024
Note | £ | £ | £ | £ | £ | £
Turnover | 4 | 18,734,943 | 320,420 | 19,055,363 | 18,147,310 | 440,910 | 18,588,220
Cost of sales |  | (12,133,273) | - | (12,133,273) | (12,416,873) | - | (12,416,873)
Gross profit |  | 6,601,670 | 320,420 | 6,922,090 | 5,730,437 | 440,910 | 6,171,347
Administrative expenses |  | (3,963,935) | (35,600) | (3,999,535) | (2,405,835) | (128,934) | (2,534,769)
Exceptional administrative expenses | 13 | (895,963) | - | (895,963) | - | - | -
Operating profit | 5 | 1,741,772 | 284,820 | 2,026,592 | 3,324,602 | 311,976 | 3,636,578
(Loss)/profit on disposal of investments | 26 | - | (608,565) | (608,565) | - | - | -
Interest receivable and similar income | 9 | 11,293 | - | 11,293 | 834 | - | 834
Interest payable and similar expenses | 10 | (261,491) | (145,034) | (406,525) | (6,849) | (279,252) | (286,101)
Profit before taxation |  | 1,491,574 | (468,779) | 1,022,795 | 3,318,587 | 32,724 | 3,351,311
Tax on profit | 11 | (666,895) | (34,926) | (701,821) | (536,653) | (21,218) | (557,871)
Profit for the financial year |  | 824,679 | (503,705) | 320,974 | 2,781,934 | 11,506 | 2,793,440
Unrealised surplus on revaluation of tangible fixed assets |  |  |  | - |  |  | 1,748,549
Movement on tax relating to unrealised gain |  |  |  | - |  |  | (345,622)
Other comprehensive income for the year |  |  |  | - |  |  | 1,402,927
Page 9
ER PRODUCTIONS TRADING GROUP LIMITED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2025
| Continuing operations | Discontin'd operations | Total | Continuing operations | Discontinued operations | Total
| 2025 | 2025 | 2025 | 2024 | 2024 | 2024
Note | £ | £ | £ | £ | £ | £
Total comprehensive income for the year |  |  |  | 320,974 |  |  | 4,196,367
Profit for the year attributable to: |  |  |  |  |  |  |
Non-controlling interests |  | 40,987 | - | 40,987 | 41,604 | - | 41,604
Owners of the parent company |  | 279,987 | - | 279,987 | 2,751,836 | - | 2,751,836
|  | 320,974 | - | 320,974 | 2,793,440 | - | 2,793,440
Total comprehensive income for the year attributable to: |  |  |  |  |  |  |
Non-controlling interest |  |  |  | 40,987 |  |  | 41,604
Owners of the parent company |  |  |  | 279,987 |  |  | 4,154,763
|  |  |  | 320,974 |  |  | 4,196,367
There were no recognised gains and losses for 2025 or 2024 other than those included in the consolidated statement of comprehensive income.
The notes on pages 20 to 43 form part of these financial statements.
Page 10
ER PRODUCTIONS TRADING GROUP LIMITED REGISTERED NUMBER: 15787616 CONSOLIDATED BALANCE SHEET AS AT 31 JANUARY 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Intangible assets | 14 |  | 269,966 |  | 417,220
Tangible assets | 15 |  | 7,848,690 |  | 14,569,251
|  |  | 8,118,656 |  | 14,986,471
Current assets |  |  |  |  |
Stocks | 17 | 505,268 |  | 66,485 |
Debtors: amounts falling due within one year | 18 | 2,369,810 |  | 2,995,786 |
Cash at bank and in hand | 19 | 3,216,929 |  | 1,947,261 |
|  | 6,092,007 |  | 5,009,532 |
Creditors: amounts falling due within one year | 20 | (2,620,509) |  | (2,696,494) |
Net current assets |  |  | 3,471,498 |  | 2,313,038
Total assets less current liabilities |  |  | 11,590,154 |  | 17,299,509
Creditors: amounts falling due after more than one year | 21 |  | (3,900,000) |  | (4,873,244)
Provisions for liabilities |  |  |  |  |
Deferred taxation | 23 | (1,390,518) |  | (1,524,116) |
|  |  | (1,390,518) |  | (1,524,116)
Net assets excluding pension asset |  |  | 6,299,636 |  | 10,902,149
Net assets |  |  | 6,299,636 |  | 10,902,149
Capital and reserves |  |  |  |  |
Called up share capital | 24 |  | 17,500,113 |  | 1,000
Share premium account |  |  | 799,926 |  | 799,926
Revaluation reserve |  |  | - |  | 1,640,507
Merger reserve |  |  | (19,440,224) |  | -
Profit and loss account |  |  | 7,357,230 |  | 8,419,112
Equity attributable to owners of the parent company |  |  | 6,217,045 |  | 10,860,545
Non-controlling interests |  |  | 82,591 |  | 41,604
|  |  | 6,299,636 |  | 10,902,149
Page 11
ER PRODUCTIONS TRADING GROUP LIMITED REGISTERED NUMBER: 15787616 CONSOLIDATED BALANCE SHEET (CONTINUED) AS AT 31 JANUARY 2025 The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
M E L Webber
Director
Date: 13 November 2025
The notes on pages 20 to 43 form part of these financial statements. Page 12
ER PRODUCTIONS TRADING GROUP LIMITED REGISTERED NUMBER: 15787616 COMPANY BALANCE SHEET AS AT 31 JANUARY 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Investments | 16 |  | 17,500,000 |  | -
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 18 | 4,184,328 |  | - |
|  | 4,184,328 |  | - |
Other creditors |  | (284,215) |  | - |
Net current assets |  |  | 3,900,113 |  | -
Total assets less current liabilities |  |  | 21,400,113 |  | -
Creditors: amounts falling due after more than one year | 21 |  | (3,900,000) |  | -
Net assets |  |  | 17,500,113 |  | -
Capital and reserves |  |  |  |  |
Called up share capital | 24 |  | 17,500,113 |  | -
|  |  | 17,500,113 |  | -
The financial statements were approved and authorised for issue by the board and were signed on its behalf by
M E L Webber
Director
Date: 13 November 2025
The notes on pages 20 to 43 form part of these financial statements. Page 13

|  | ER PRODUCTIONS TRADING GROUP LIMITED |
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 JANUARY 2025
|  | Called up share capital | Other reserve | Revaluation reserve | Merger reserve | Profit and loss account | Equity attributable to owners of parent company | Non-controlling interests | Total equity
|  | £ | £ | £ | £ | £ | £ | £ | £
| At 1 February 2024 | 1,000 | 799,926 | 1,640,507 | - | 8,419,112 | 10,860,545 | 41,604 | 10,902,149
| Profit for the year | - | - | - | - | 279,987 | 279,987 | 40,987 | 320,974
| Transfer to/from profit and loss account | - | - | - | - | 1,640,507 | 1,640,507 | - | 1,640,507
| Dividends: Equity capital | - | - | - | - | (2,536,151) | (2,536,151) | - | (2,536,151)
| Shares issued during the year | 20,999,113 | - | - | - | - | 20,999,113 | - | 20,999,113
| Shares cancelled during the year | (3,500,000) | - | - | - | - | (3,500,000) | - | (3,500,000)
| Transfer to/from profit and loss account | - | - | (1,640,507) | - | - | (1,640,507) | - | (1,640,507)
| Merger reserve arising during the year and acquisition of NCI | - | - | - | (19,440,224) | (446,225) | (19,886,449) | - | (19,886,449)
| At 31 January 2025 | 17,500,113 | 799,926 | - | (19,440,224) | 7,357,230 | 6,217,045 | 82,591 | 6,299,636
| The notes on pages 20 to 43 form part of these financial statements.
Page 14

|  | ER PRODUCTIONS TRADING GROUP LIMITED |
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 JANUARY 2024
|  | Called up share capital | Other reserve | Revaluation reserve | Profit and loss account | Equity attributable to owners of parent company | Non-controlling interests | Total equity
|  | £ | £ | £ | £ | £ | £ | £
| At 1 February 2023 | 946 | 799,926 | 237,580 | 7,334,817 | 8,373,269 | - | 8,373,269
| Profit for the year | - | - | - | 2,751,836 | 2,751,836 | 41,604 | 2,793,440
| Surplus on revaluation of freehold property | - | - | 1,402,927 | - | 1,402,927 | - | 1,402,927
| Dividends: Equity capital | - | - | - | (1,667,541) | (1,667,541) | - | (1,667,541)
| Shares issued during the year | 54 | - | - | - | 54 | - | 54
| At 31 January 2024 | 1,000 | 799,926 | 1,640,507 | 8,419,112 | 10,860,545 | 41,604 | 10,902,149
| The notes on pages 20 to 43 form part of these financial statements.
Page 15

ER PRODUCTIONS TRADING GROUP LIMITED COMPANY STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 JANUARY 2025
| Called up share capital | Capital redemption reserve | Profit and loss account | Total equity
| £ | £ | £ | £
Profit for the year | - | - | 184,215 | 184,215
Distribution of ER Living Limited | - | - | (3,500,000) | (3,500,000)
Dividends: Equity capital | - | - | (184,215) | (184,215)
Purchase of own shares | - | 3,500,000 | - | 3,500,000
Shares issued during the year | 21,000,113 | - | - | 21,000,113
Shares cancelled during the year | (3,500,000) | - | - | (3,500,000)
Transfer to profit and loss account | - | (3,500,000) | 3,500,000 | -
At 31 January 2025 | 17,500,113 | - | - | 17,500,113
| The notes on pages 20 to 43 form part of these financial statements.
Page 16
ER PRODUCTIONS TRADING GROUP LIMITED CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 JANUARY 2025
|  |  | 2025 | 2024
|  |  | £ | £
Cash flows from operating activities |  |
Profit for the financial year | 320,974 | 2,793,440
Adjustments for: |  |
Amortisation of intangible assets | 147,254 | 147,254
Depreciation of tangible assets | 2,106,161 | 2,035,391
Loss on disposal of tangible assets | 158,608 | 1,175
Interest paid | 406,525 | 286,101
Interest received | (11,293) | (834)
Taxation charge | 701,821 | 557,871
(Increase)/decrease in stocks | (438,783) | -
Decrease/(increase) in debtors | 1,257,908 | (431,606)
Increase/(decrease) in creditors | 218,810 | (72,459)
Corporation tax (paid) | (656,896) | (512,256)
Net cash generated from operating activities | 4,211,089 | 4,804,077
Cash flows from investing activities |  |
Purchase of tangible fixed assets | (2,705,749) | (2,401,581)
Sale of tangible fixed assets | - | 400
Purchase of fixed asset investments | 192,680 | -
Interest received | 11,293 | 834
Net cash from investing activities | (2,501,776) | (2,400,347)
Cash flows from financing activities |  |
Issue of ordinary shares | 113 | -
New secured loans | 4,000,000 | -
Repayment of loans | (1,497,082) | (197,632)
Dividends paid | (2,536,151) | (1,667,541)
Interest paid | (406,525) | (286,101)
Net cash used in financing activities | (439,645) | (2,151,274)
Net increase in cash and cash equivalents | 1,269,668 | 252,456
Cash and cash equivalents at beginning of year | 1,947,261 | 1,694,805
Cash and cash equivalents at the end of year | 3,216,929 | 1,947,261
Cash and cash equivalents at the end of year comprise: |  |
Cash at bank and in hand | 3,216,929 | 1,947,261
Page 17
ER PRODUCTIONS TRADING GROUP LIMITED CONSOLIDATED STATEMENT OF CASH FLOWS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2025
|  | 2025 | 2024
|  | £ | £
| 3,216,929 | 1,947,261
The notes on pages 20 to 43 form part of these financial statements.
Page 18
ER PRODUCTIONS TRADING GROUP LIMITED FOR THE YEAR ENDED 31 JANUARY 2025
| At 1 February 2024 | Cash flows | Acquisition and disposal of subsidiaries | Other non-cash changes | At 31 January 2025
| £ | £ | £ | £ | £
Cash at bank and in hand | 1,947,261 | 1,269,668 | - | - | 3,216,929
Debt due after 1 year | (4,855,820) | 1,497,082 | 3,692,030 | (333,292) | -
Debt due within 1 year | (333,292) | - | - | 333,292 | -
| (3,241,851) | 2,766,750 | 3,692,030 | - | 3,216,929
The notes on pages 20 to 43 form part of these financial statements.
Page 19
ER PRODUCTIONS TRADING GROUP LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025
1. | General information
ER Productions Trading Group Limited is a private company limited by shares and incorporated in England and Wales. The address of the registered office is Unit G Panorama, Bridge Close, Dartford, DA2 6QP. The principal activity of the company during the year has been that of a holding company and the principal activity of the group was that of provision of laser and pyro equipment and technical support to the leisure and entertainment industry. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. 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 judgment in applying the group's accounting policies (see note 3). The company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of comprehensive income in these financial statements. The following principal accounting policies have been applied:
| 2.2 | Basis of consolidation
The consolidated financial statements present the results of the company and its own subsidiaries ("the group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full. The consolidated financial statements incorporate the results of business combinations using the purchase and merger method. In the Balance sheet, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated statement of comprehensive income from the date on which control is obtained. They are deconsolidated from the date control ceases. ER Productions Trading Group Limited became the new parent of the existing ER Production Holdings Group and its subsidiaries as a result of a share for share exchange. For consolidation purposes, comparatives are presented as if the new group structure had always existed. Under merger accounting, no new goodwill arises, rather, the excess of consideration over net assets acquired is recognised as merger reserve. . Therefore, the group continues to recognise a merger reserve which arose on a past business combination that was accounted for as a merger in accordance with UK GAAP as applied at that time. Page 20
ER PRODUCTIONS TRADING GROUP LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025 2.Accounting policies (continued)
| 2.3 | Foreign currency translation
Functional and presentation currency The company's functional and presentational currency is GBP. Transactions and balances Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined. Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges. Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Consolidated statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'. On consolidation, the results of overseas operations are translated into Sterling at rates approximating to those ruling when the transactions took place. All assets and liabilities of overseas operations are translated at the rate ruling at the reporting date. Exchange differences arising on translating the opening net assets at opening rate and the results of overseas operations at actual rate are recognised in other comprehensive income. Page 21
ER PRODUCTIONS TRADING GROUP LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025 2.Accounting policies (continued)
| 2.4 | Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the group and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Sale of goods Revenue from the sale of goods is recognised when all of the following conditions are satisfied: ∙the group has transferred the significant risks and rewards of ownership to the buyer; ∙the group retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; ∙the amount of revenue can be measured reliably; ∙it is probable that the group will receive the consideration due under the transaction; and ∙the costs incurred or to be incurred in respect of the transaction can be measured reliably. Rendering of services Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: ∙the amount of revenue can be measured reliably; ∙it is probable that the group will receive the consideration due under the contract; ∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and ∙the costs incurred and the costs to complete the contract can be measured reliably.
| 2.5 | Operating leases: the group as lessee
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term. Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.
| 2.6 | Interest income
Interest income is recognised in profit or loss using the effective interest method.
| 2.7 | Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument. Page 22
ER PRODUCTIONS TRADING GROUP LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025 2.Accounting policies (continued)
| 2.8 | Borrowing costs
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
| 2.9 | Pensions
Defined contribution pension plan The group operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the group pays fixed contributions into a separate entity. Once the contributions have been paid the group has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the group in independently administered funds.
| 2.10 | Current and deferred taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company and the group operate and generate income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that: ∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; ∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met; and ∙Where they relate to timing differences in respect of interests in subsidiaries, associates, branches and joint ventures and the group can control the reversal of the timing differences and such reversal is not considered probable in the foreseeable future. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
| 2.11 | Exceptional items
Exceptional items are transactions that fall within the ordinary activities of the group but are presented separately due to their size or incidence. Page 23
ER PRODUCTIONS TRADING GROUP LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025 2.Accounting policies (continued)
| 2.12 | Intangible assets
Goodwill Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of the group's share of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Consolidated statement of comprehensive income over its useful economic life. Other intangible assets Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
| 2.13 | 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, on the following bases:
|  |  |  | Freehold property | - | 10% Reducing balance
|  |  |  | Plant and machinery | - | 25% Reducing balance
|  |  |  | Motor vehicles | - | 25% Reducing balance
|  |  |  | Fixtures and fittings | - | 25% Reducing balance
|  |  |  | Office equipment | - | 25% Reducing balance
| 2.14 | Revaluation of tangible fixed assets
Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date. Fair values are determined from market based evidence normally undertaken by professionally qualified valuers. Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss. Page 24
ER PRODUCTIONS TRADING GROUP LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025 2.Accounting policies (continued)
| 2.15 | Valuation of investments
Investments in subsidiaries are measured at cost less accumulated impairment.
| 2.16 | Stocks
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads. At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.
| 2.17 | Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
| 2.18 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value. In the Consolidated statement of cash flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the group's cash management.
| 2.19 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
| 2.20 | Provisions for liabilities
Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made. Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties. Increases in provisions are generally charged as an expense to profit or loss. Page 25
ER PRODUCTIONS TRADING GROUP LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025 2.Accounting policies (continued)
| 2.21 | Financial instruments
The group has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments. Financial instruments are recognised in the group's Balance sheet when the group becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with 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. Basic financial assets Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial. The group's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments. Basic financial liabilities Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the group after the deduction of all its liabilities. Basic financial liabilities, which include trade and other creditors, bank loans, other loans and loans due to fellow group companies are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial. Debt instruments are subsequently carried at their amortised cost using the effective interest rate method. Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
| 2.22 | Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. Page 26
ER PRODUCTIONS TRADING GROUP LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025
3. | Judgments in applying accounting policies and key sources of estimation uncertainty
In preparing the financial statements, the directors are required to make estimates and judgments. These estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant and reviewed on an ongoing basis. Key estimates include: 1) Depreciation charges totalling £2,106,161 (2023: £2,035,391) which are further disclosed in note 2.13 2) Cost accrual estimates totalling £228,500 (2024: £152,570). 3) Amortisation charges totalling £147,254 (2023: £147,254) which are further disclosed in note 2.12
4. | Turnover
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Sales and rent of equipment | 19,028,483 | 18,562,310
| Rental income | 26,880 | 25,910
|  | 19,055,363 | 18,588,220
Analysis of turnover by country of destination:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| United Kingdom | 11,759,825 | 10,614,343
| Rest of Europe | 1,142,658 | 2,769,594
| Rest of the world | 6,152,880 | 5,204,283
|  | 19,055,363 | 18,588,220
5. | Operating profit
| The operating profit is stated after charging:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Exchange differences | 42,064 | 55,219
| Other operating lease rentals | 1,102,156 | 432,066
| Depreciation | 2,106,161 | 2,035,391
Page 27
ER PRODUCTIONS TRADING GROUP LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025
6. | Auditor's remuneration
| During the year, the group obtained the following services from the company's auditor:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Fees payable to the company's auditor for the audit of the consolidated and parent company's financial statements | 35,000 | 33,000
| Fees payable to the company's auditor in respect of: |  |
| Taxation compliance services | 10,000 | 10,000
| All taxation advisory services not included above | 15,000 | 19,446
7. | Employees
| Staff costs, including directors' remuneration, were as follows:
|  | Group | Group
|  | 2025 | 2024
|  | £ | £
| Wages and salaries | 6,459,007 | 3,644,947
| Social security costs | 643,937 | 419,081
| Cost of defined contribution scheme | 79,658 | 55,758
|  | 7,182,602 | 4,119,786
| The average monthly number of employees, including the directors, during the year was as follows:
|  |  | Group | Group | Company | Company
|  |  | 2025 | 2024 | 2025 | 2024
|  |  | No. | No. | No. | No.
|  | Director | 4 | 2 | 4 | -
|  | Employees | 70 | 58 | - | -
|  |  | 74 | 60 | 4 | 0
Page 28
ER PRODUCTIONS TRADING GROUP LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025
8. | Directors' remuneration
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Directors' emoluments | 236,934 | 28,065
| Group contributions to defined contribution pension schemes | 1,232 | 226
|  | 238,166 | 28,291
| During the year retirement benefits were accruing to 2 directors (2024 - 2) in respect of defined contribution pension schemes.
| The highest paid director received remuneration of £117,989 (2024 - £10,000).
| The value of the group's contributions paid to a defined contribution pension scheme in respect of the highest paid director amounted to £616 (2024 - £113).
9. | Interest receivable
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Other interest receivable | 11,293 | 834
|  | 11,293 | 834
10. | Interest payable and similar expenses
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank interest payable | 171,116 | 279,252
| Other loan interest payable | 209,502 | 6,849
| Other interest payable | 25,907 | -
|  | 406,525 | 286,101
Page 29
ER PRODUCTIONS TRADING GROUP LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025
11. | Taxation
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Corporation tax |  |
| Current tax on profits for the year | 280,436 | 594,633
| Adjustments in respect of previous periods | 7,979 | 228
|  | 288,415 | 594,861
| Foreign tax |  |
| Foreign tax on income for the year | 145,904 | 80,156
| Total current tax | 434,319 | 675,017
| Deferred tax |  |
| Origination and reversal of timing differences | 267,502 | (117,146)
|  | 701,821 | 557,871
Page 30
ER PRODUCTIONS TRADING GROUP LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025 11.Taxation (continued)
| Factors affecting tax charge for the year
| The tax assessed for the year is higher than (2024 - lower than) the standard rate of corporation tax in the UK of 25% (2024 - 24.03%). The differences are explained below:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Profit on ordinary activities before tax | 1,022,795 | 3,351,311
| Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2024 - 24.03%) | 255,699 | 805,320
| Effects of: |  |
| Non-tax deductible amortisation of goodwill and impairment | 140,564 | 35,385
| Expenses not deductible for tax purposes, other than goodwill amortisation and impairment | 38,124 | 9,476
| Capital allowances for year in excess of depreciation | (26,000) | (151,506)
| Adjustments to tax charge in respect of prior periods | 7,979 | 228
| Deferred tax movement | 267,502 | (117,146)
| Differences in tax rates on foreign subsidiaries | (152,915) | (34,734)
| Unrelieved tax losses carried forward | 20,868 | 10,848
| Loss on disposal of investment | 150,000 | -
| Total tax charge for the year | 701,821 | 557,871
| Factors that may affect future tax charges
There were no factors that may affect future tax charges.
12. | Dividends
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Dividends paid | 2,536,151 | 1,667,541
|  | 2,536,151 | 1,667,541
Page 31
ER PRODUCTIONS TRADING GROUP LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025
13. | Exceptional items
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Restructuring and American fraud costs | 895,963 | -
|  | 895,963 | -
14. | Intangible assets
| Group and Company
|  | Goodwill
|  | £
| Cost |
| At 1 February 2024 | 736,270
| At 31 January 2025 | 736,270
| Amortisation |
| At 1 February 2024 | 319,050
| Charge for the year on owned assets | 147,254
| At 31 January 2025 | 466,304
| Net book value |
| At 31 January 2025 | 269,966
| At 31 January 2024 | 417,220
Page 32
ER PRODUCTIONS TRADING GROUP LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025
15. | Tangible fixed assets
| Group
|  | Freehold property | Plant and machinery | Motor vehicles | Fixtures and fittings | Office equipment
|  | £ | £ | £ | £ | £
| Cost or valuation |  |  |  |  |
| At 1 February 2024 | 7,521,024 | 16,490,147 | 191,230 | 2,250,819 | 338,841
| Additions | 147,090 | 2,296,870 | 94,024 | 127,694 | 40,071
| Acquisition of subsidiary | - | 3,499 | - | - | 198,492
| Disposal of subsidiary | - | (4,703) | - | - | -
| Transfers between classes | (7,521,024) | - | - | - | -
| At 31 January 2025 | 147,090 | 18,785,813 | 285,254 | 2,378,513 | 577,404
| Depreciation |  |  |  |  |
| At 1 February 2024 | - | 10,846,633 | 101,884 | 1,062,093 | 212,200
| Charge for the year on owned assets | - | 1,669,643 | 43,402 | 307,048 | 86,068
| Disposal of subsidiary | - | - | - | - | (3,587)
| At 31 January 2025 | - | 12,516,276 | 145,286 | 1,369,141 | 294,681
| Net book value |  |  |  |  |
| At 31 January 2025 | 147,090 | 6,269,537 | 139,968 | 1,009,372 | 282,723
| At 31 January 2024 | 7,521,024 | 5,643,514 | 89,346 | 1,188,726 | 126,641
Page 33
ER PRODUCTIONS TRADING GROUP LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025 15.Tangible fixed assets (continued)
|  | Total
|  | £
| Cost or valuation |
| At 1 February 2024 | 26,792,061
| Additions | 2,705,749
| Acquisition of subsidiary | 201,991
| Disposal of subsidiary | (4,703)
| Transfers between classes | (7,521,024)
| At 31 January 2025 | 22,174,074
| Depreciation |
| At 1 February 2024 | 12,222,810
| Charge for the year on owned assets | 2,106,161
| Disposal of subsidiary | (3,587)
| At 31 January 2025 | 14,325,384
| Net book value |
| At 31 January 2025 | 7,848,690
| At 31 January 2024 | 14,569,251
| The net book value of land and buildings may be further analysed as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Freehold | 147,090 | 7,521,024
|  | 147,090 | 7,521,024
Page 34
ER PRODUCTIONS TRADING GROUP LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025
16. | Fixed asset investments
| Company
|  | Investments in subsidiary companies
|  | £
| Cost or valuation |
| Additions | 21,500,002
| Disposals | (4,000,002)
| At 31 January 2025 | 17,500,000
| Subsidiary undertakings
| The following were subsidiary undertakings of the company:
| Name | Registered office | Class of shares | Holding
| Mediashare Limited | (i) | Ordinary | 98%
| Explosive Solutions Group Limited | (i) | Ordinary | 100%
| ER Productions Europe SL | (ii) | Ordinary | 100%
| ER Productions Australia Pty | (iii) | Ordinary | 100%
| Mediashare Middle East Entertainment LLC | (iv) | Ordinary | 100%
| Pyrojunkies Limited | (i) | Ordinary | 100%
| Pyrowarehouse Limited | (i) | Ordinary | 100%
| ER Laser Productions Inc | (v) | Ordinary | 100%
| ER Productions Holdings Limited | (i) | Ordinary | 100%
Page 35
ER PRODUCTIONS TRADING GROUP LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025 Subsidiary undertakings (continued)
| (i) Unit G, Panorama, Bridge Close, Dartford, Kent, DA26QP (ii) Company incorporated in Spain (iii) Company incorporated in Australia (iv) Company incorporated in the Kingdom of Saudi Arabia (v) Company incorporated in the United States of America Explosive Solutions Group Limited and Pyrojunkies Limited are exempt by s479A of the Companies Act 2006 from the requirement to audit their individual accounts. ER Productions Holdings Limited is the only direct subsidiary undertaking all other susidiary companies are indirectly held. The aggregate of the share capital and reserves as at 31 January 2025 and the profit or loss for the year ended on that date for the subsidiary undertakings were as follows:
| Name | Aggregate of share capital and reserves | Profit/(Loss)
|  | £ | £
| Mediashare Limited | 5,004,313 | 1,366,246
| Explosive Solutions Group Limited | 107,338 | (390)
| ER Productions Europe SL | 145,133 | 106,396
| ER Productions Australia Pty | 8,550 | 16,838
| Mediashare Middle East Entertainment LLC | 240,842 | 79,016
| Pyrojunkies Limited | 405,386 | (53,291)
| Pyrowarehouse Limited | 100 | -
| ER Laser Productions Inc | 516,336 | (690,379)
| ER Productions Holdings Limited | 2,506,306 | 2,903,840
17. | Stocks
|  | Group | Group
|  | 2025 | 2024
|  | £ | £
| Stock | 505,268 | 66,485
|  | 505,268 | 66,485
| The difference between purchase price or production cost of stocks and their replacement cost is not material.
Page 36
ER PRODUCTIONS TRADING GROUP LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025
18. | Debtors
|  | Group | Group | Company | Company
|  | 2025 | 2024 | 2025 | 2024
|  | £ | £ | £ | £
| Trade debtors | 1,770,831 | 1,892,975 | - | -
| Amounts owed by group undertakings | - | - | 4,184,228 | -
| Other debtors | 126,297 | 936,969 | 100 | -
| Called up share capital not paid | - | 2 | - | -
| Prepayments and accrued income | 472,682 | 165,840 | - | -
|  | 2,369,810 | 2,995,786 | 4,184,328 | -
19. | Cash and cash equivalents
|  | Group | Group
|  | 2025 | 2024
|  | £ | £
| Cash at bank and in hand | 3,216,929 | 1,947,261
| Less: bank overdrafts | - | -
|  | 3,216,929 | 1,947,261
20. | Creditors: Amounts falling due within one year
|  | Group | Group | Company | Company
|  | 2025 | 2024 | 2025 | 2024
|  | £ | £ | £ | £
| Bank loans | - | 333,292 | - | -
| Trade creditors | 1,012,415 | 809,342 | - | -
| Corporation tax | 257,112 | 677,248 | - | -
| Other taxation and social security | 284,606 | 401,421 | - | -
| Other creditors | 436,302 | 113,856 | 284,215 | -
| Accruals and deferred income | 630,074 | 361,335 | - | -
|  | 2,620,509 | 2,696,494 | 284,215 | -
Page 37
ER PRODUCTIONS TRADING GROUP LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025
21. | Creditors: Amounts falling due after more than one year
|  | Group | Group | Company | Company
|  | 2025 | 2024 | 2025 | 2024
|  | £ | £ | £ | £
| Bank loans | - | 4,855,820 | - | -
| Other creditors | 3,900,000 | - | 3,900,000 | -
| Accruals and deferred income | - | 17,424 | - | -
|  | 3,900,000 | 4,873,244 | 3,900,000 | -
| Included within other creditors are balances amounting to £4,000,000 (2024: £Nil) which are secured by charges over certain assets of the Group.
22. | Loans
| Analysis of the maturity of loans is given below:
|  | Group | Group
|  | 2025 | 2024
|  | £ | £
| Amounts falling due within one year |  |
| Bank loans | - | 333,292
| Amounts falling due 1-2 years |  |
| Bank loans | - | 632,930
| Amounts falling due 2-5 years |  |
| Bank loans | - | 1,673,790
| Amounts falling due after more than 5 years |  |
| Bank loans | - | 2,549,100
|  | - | 5,189,112
Page 38
ER PRODUCTIONS TRADING GROUP LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025
23. | Deferred taxation
| Group
|  | 2025 | 2024
|  | £ | £
| At beginning of year | (1,524,116) | (1,295,640)
| Charged to profit or loss | (267,502) | 99,457
| Charged to other comprehensive income | - | (345,622)
| Released on disposal of subsidiary | 401,100 | -
| Utilised in year | - | 17,689
| At end of year | (1,390,518) | (1,524,116)
| Company
|  | 2025 | 2024
| At end of year | - | -
| The provision for deferred taxation is made up as follows:
|  | Group | Group
|  | 2025 | 2024
|  | £ | £
| Accelerated capital allowances | (1,390,518) | (1,123,016)
| Tax losses carried forward | - | (401,100)
|  | (1,390,518) | (1,524,116)
Page 39
ER PRODUCTIONS TRADING GROUP LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025
24. | Share capital
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 13,916,924 (2024 - 1,000) Ordinary Shares shares of £1.00000 each | 13,916,924 | 1,000
|  | 3,583,176 (2024 - ) Ordinary A shares shares of £1.00000 each | 3,583,176 | -
|  | 1,286,258 (2024 - ) Ordinary B shares shares of £0.00001 each | 13 | -
|  |  | 17,500,113 | 1,000
The prior year share capital related to the shares issued in the previous holding company ER Productions Holdings Limited. During the year the company was incorporated with 100 Ordinary shares of £1 each. Subsequently a share for share exchange was undertaken issuing a further 20,999,900 Ordinary shares of £1 each as consideration for acquiring the group headed by ER Productions Holdings Limited. Further share transactions in the period are noted as follows: 1) Share capital reduction of 3,500,000 Ordinary £1 shares as part of disposing of MR Living Limited, a subsidiary company. 2) 1,286,258 Ordinary B shares of £0.00001 were issued at par 3) A reclassification of the Ordinary £1 shares totalling 3,583,176 and redesignation as Ordinary A shares. Page 40
ER PRODUCTIONS TRADING GROUP LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025
25. | Business combinations
During the year the entire share capital in ER Laser Productions Inc was acquired in consideration for newly issued share capital.
| Acquisition of ER Laser Productions Inc
| Recognised amounts of identifiable assets acquired and liabilities assumed
|  |  |  |  | Fair value
|  |  |  |  | £
| Fixed Assets |
| Tangible | 223,021
|  | 223,021
| Current Assets |
| Debtors | 881,868
| Cash at bank and in hand | 371,506
| Total Assets | 1,476,395
| Creditors |
| Due within one year | (413,827)
| Total Identifiable net assets | 1,062,568
| Total purchase consideration | 1,062,568
| Consideration
|  |  |  |  | £
| Equity instruments and merger reserve | 1,062,568
| Total purchase consideration | 1,062,568
| Cash outflow on acquisition
|  |  |  |  | £
| Less: Cash and cash equivalents acquired | (371,506)
| Net cash outflow/(inflow) on acquisition | (371,506)
Page 41
ER PRODUCTIONS TRADING GROUP LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025
26. | Discontinued operations
| During the year ER Living Limited was demergred from the group by way of a capital reduction demerger.
|  | £
| Distribution |  | 3,500,000
| Cost of investment |  | (500,002)
|  |  | 2,999,998
| Net assets disposed of: |  |
| Tangible fixed assets | (7,522,140) |
| Debtors | (788) |
| Cash | (178,826) |
| Creditors | 4,093,130 |
|  |  | 3,608,624
| (Profit)/Loss on disposal before tax |  | 608,626
| The net inflow of cash in respect of the sale of ER Living Limited is as follows:
|  | £
| Cash transferred on disposal | (178,826)
| Net inflow/(outflow) of cash | (178,826)
27. | Pension commitments
The group operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the group in an independently administered fund. The pension cost charge represents contributions payable by the group to the fund and amounted to £64,072 (2024 - £55,715). Contributions totalling £14,226 (2024 - £22,604) were payable to the fund at the balance sheet date and are included in creditors. Page 42
ER PRODUCTIONS TRADING GROUP LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025
28. | Commitments under operating leases
| At 31 January 2025 the group and the company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
|  | Group | Group
|  | 2025 | 2024
|  | £ | £
| Not later than 1 year | 201,150 | 280,200
| Later than 1 year and not later than 5 years | - | 210,150
|  | 201,150 | 490,350
29. | Related party transactions
| During the year under review, the group rendered services to a company under common control totalling £1,825,430 (2024: £1,786,193). As at the balance sheet date, Mediashare Limited was owed £142,239 (2024: £235,199) by this related party. As at the balance sheet date, the company owed £335,708 to (2024: £699,103 owed from) its parent company. As at the balance sheet date, the group owed £246,510 (2024: £843,396 owed from) to directors of the company. As at the balance sheet date, the company owed £4,000,000 (2024: £Nil) to the shareholders of the company.
30. | Controlling party
There is no one controlling party.
Page 43