Moondust BDZ Limited

(Registration number: 12709559)
Balance Sheet as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Intangible assets	4	836,312	907,488
Current assets
Debtors	5	6,423	9,278
Cash at bank and in hand		5,212	11,564
		11,635	20,842
Creditors: Amounts falling due within one year	6	(858,350)	(893,510)
Net current liabilities		(846,715)	(872,668)
Net (liabilities)/assets		(10,403)	34,820
Capital and reserves
Called up share capital	7	900	900
Profit and loss account		(11,303)	33,920
Total equity		(10,403)	34,820

Moondust BDZ Limited

(Registration number: 12709559)
Balance Sheet as at 31 March 2025

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised for issue by the Board on 9 July 2025 and signed on its behalf by:
 

.........................................

J G W Grafton
Director

Moondust BDZ Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1	Statutory information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Vintry Building
Lower Ground Floor
Wine Street
Bristol
BS1 2BD

2	Accounting policies

Summary of significant accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention.

The financial statements are prepared in pounds sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Going concern

The Directors have assessed the going concern position with regard to the amortisation of the Moonbase intangible asset. In FY24, a prudent 5-year amortisation period was adopted while sales projections were established, resulting in a loss-making position. Following strong sales in FY24 and industry evidence suggesting a 10–20 year asset lifespan, the amortisation period was revised in FY25 to reflect a remaining 12-year term. While FY25 sales were weaker, committed revenue for FY26 already represents approximately 92% of the break-even target over this period (average £75k p.a.), with further sales expected. Based on current committed revenue and the asset's long-term potential, the Directors consider the going concern basis to be appropriate.

Group accounts not prepared

The company is part of a small group. The company has taken advantage of the exemption provided by section 398 of the Companies Act 2006 and has not prepared group accounts.

Moondust BDZ Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rates prevailing on the initial transaction dates.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Moondust BDZ Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Intangible fixed assets

Intangible assets represent the cost of developing the internally generated software, which the company licenses to generate economic inflows. Amortisation began to be charged when the company began to license the software.

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Internally generated original content	Straight line over 12 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are recognised at the transaction price.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2024 - 0).

Moondust BDZ Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4	Intangible fixed assets

	Internally generated original content  £
Cost
At 1 April 2024	1,134,360
At 31 March 2025	1,134,360
Amortisation
At 1 April 2024	226,872
Amortisation charge	71,176
At 31 March 2025	298,048
Carrying amount
At 31 March 2025	836,312
At 31 March 2024	907,488

Following its year-end review, the directors reassessed the useful life of the intangible asset. The asset had previously been amortised on a straight-line basis over 5 years. This is now being amortised over 12 years and 9 months from the 1 April 2024.

Moondust BDZ Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

5	Debtors: amounts falling due within one year

	2025 £	2024 £
Trade debtors	3,987	257
VAT	58	78
Prepayments and accrued income	2,378	8,943
	6,423	9,278

6

Creditors

	Note	2025 £	2024 £
Amounts falling due within one year
Amounts owed to group undertakings	8	852,657	881,954
Accruals and deferred income		5,693	11,556
		858,350	893,510

7	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary shares of £1 each	900	900	900	900

8	Related party transactions

The company has taken advantage of the exemption available under FRS 102 Section 1A to not disclose transactions with wholly-owned group members.

9	Parent and ultimate parent undertaking

The company's immediate and ultimate parent is Moonraker VFX Limited, incorporated in England and Wales.