ACCOUNTS - Final Accounts

Operating profit

The operating profit is stated after charging:

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

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

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

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)

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.

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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)

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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