REGISTERED NUMBER: 05136287 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

FIRST SIGHT MEDIA LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr R P Belcher

Mr J S Middleton

Mr A T Halls

Mrs C L Belcher

Mr M W Middleton

REGISTERED OFFICE:

Hillside

Albion Street

Chipping Norton

Oxfordshire

OX7 5BH

BUSINESS ADDRESS:

1-5 Wesley House

Ventura Park

Broadshires Way

Carterton

Oxfordshire

OX18 1AD

REGISTERED NUMBER:

05136287 (England and Wales)

ACCOUNTANTS:

Bronsens

Chartered Certified Accountants

Eden House

Two Rivers Business Park

Witney

Oxfordshire

OX28 4BL

FIXED ASSETS

Intangible assets

4

540,000

-

Tangible assets

5

450,292

353,569

Investments

6

653,551

1

1,643,843

353,570

CURRENT ASSETS

Stocks

3,587

2,026

Debtors

7

310,274

167,286

Cash at bank and in hand

212,431

456,443

526,292

625,755

CREDITORS

Amounts falling due within one year

8

454,355

260,799

NET CURRENT ASSETS

71,937

364,956

TOTAL ASSETS LESS CURRENT LIABILITIES

1,715,780

718,526

CREDITORS

Amounts falling due after more than one year

9

(984,316

)

(23,199

)

PROVISIONS FOR LIABILITIES

12

(105,122

)

(85,821

)

NET ASSETS

626,342

609,506

CAPITAL AND RESERVES

Called up share capital

13

100

100

Retained earnings

626,242

609,406

SHAREHOLDERS' FUNDS

626,342

609,506

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

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

Mr R P Belcher - Director

Mr A T Halls - Director

1.	STATUTORY INFORMATION

First Sight Media Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements

The financial statements contain information about First Sight Media Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, and value added tax. Turnover is recognised, based on the stage of completion, and when the company has the right to the economic benefit.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in May 2024, is being amortised evenly over its estimated useful life of ten years.

Goodwill relating to a business acquisition in 2005 has been fully amortised.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Equipment

-

20% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

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

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

Deferred tax

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

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

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

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2024 - 21 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

25,000

Additions

600,000

At 31 March 2025

625,000

AMORTISATION

At 1 April 2024

25,000

Charge for year

60,000

At 31 March 2025

85,000

NET BOOK VALUE

At 31 March 2025

540,000

At 31 March 2024

-

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

Equipment

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 April 2024

625,538

25,393

81,700

133,331

865,962

Additions

114,469

5,897

120,278

13,848

254,492

Disposals

(13,003

)

(5,253

)

(40,088

)

(59,871

)

(118,215

)

At 31 March 2025

727,004

26,037

161,890

87,308

1,002,239

DEPRECIATION

At 1 April 2024

334,749

14,088

44,063

119,493

512,393

Charge for year

80,179

3,035

35,920

18,013

137,147

Eliminated on disposal

(8,640

)

(3,225

)

(25,857

)

(59,871

)

(97,593

)

At 31 March 2025

406,288

13,898

54,126

77,635

551,947

NET BOOK VALUE

At 31 March 2025

320,716

12,139

107,764

9,673

450,292

At 31 March 2024

290,789

11,305

37,637

13,838

353,569

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 April 2024

64,109

Additions

120,278

Disposals

(22,497

)

At 31 March 2025

161,890

DEPRECIATION

At 1 April 2024

36,367

Charge for year

35,920

Eliminated on disposal

(18,161

)

At 31 March 2025

54,126

NET BOOK VALUE

At 31 March 2025

107,764

At 31 March 2024

27,742

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2024

1

Additions

653,550

At 31 March 2025

653,551

NET BOOK VALUE

At 31 March 2025

653,551

At 31 March 2024

1

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

153,876

62,271

Amounts owed by group undertakings

20,000

-

Unbilled work

14,414

-

Prepayments and accrued income

121,984

105,015

310,274

167,286

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans and overdrafts

100,000

-

Hire purchase contracts (see note 10)

21,495

3,723

Trade creditors

107,279

48,953

Social security and other taxes

44,747

19,748

VAT

9,820

7,620

Other creditors

33,956

25,126

Amount due to Ede & Ravenscroft

25,000

92,000

Directors' current accounts

25,840

55,000

Accruals and deferred income

86,218

8,629

454,355

260,799

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans - 1-2 years

100,000

-

Bank loans - 2-5 years

300,000

-

Bank loans more 5 yr by instal

441,667

-

Hire purchase contracts (see note 10)

92,649

23,199

Amount due to Ede & Ravenscroft

25,000

-

Directors' loan accounts

25,000

-

984,316

23,199

31.3.25

31.3.24

£

£

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

441,667

-

10.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

31.3.25

31.3.24

£

£

Net obligations repayable:

Within one year

21,495

3,723

Between one and five years

92,649

23,199

114,144

26,922

Non-cancellable

operating leases

31.3.25

31.3.24

£

£

Within one year

60,935

55,729

Between one and five years

180,800

180,800

In more than five years

37,250

58,250

278,985

294,779

11.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.25

31.3.24

£

£

Bank loans

941,667

-

Hire purchase contracts

114,144

26,922

1,055,811

26,922

The bank loan is secured by a fixed and floating charge dated 1 February 2024 in favour of Barclays Bank plc over property in the company. A second security charge dated 9 May 2024 in favour of Ede & Ravenscroft Limited as guarantors for the loan has also been lodged.

12.	PROVISIONS FOR LIABILITIES

31.3.25

31.3.24

£

£

Deferred tax

Accelerated capital allowances

112,573

88,392

Tax losses carried forward

(7,451

)

(2,571

)

105,122

85,821

Deferred

tax

£

Balance at 1 April 2024

85,821

Charge to Income Statement during year

19,301

Balance at 31 March 2025

105,122

13.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.25

31.3.24

value:

£

£

25

Ordinary A

£1

25

25

25

Ordinary B

£1

25

25

50

Ordinary

£1

50

50

100

100

14.	PENSION COMMITMENTS

The company operates a money purchase (defined contribution) pension scheme for its employees. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £32,427 (2024 - £31,177). At 31 March 2025 £4,573 (2024 - £4,456) was outstanding and is included in other creditors.

15.	ULTIMATE CONTROLLING PARTY

The company was jointly controlled by Mr R Belcher and Ede & Ravenscroft Holdings Limited throughout the current and previous period by virtue of their shareholding.