Monterosa Productions Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—7

2.1. Basis of Preparation of Financial Statements

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

2.2. Going Concern Disclosure

The directors have concluded that further to their review of forecasts for a period not less than 12 months from the date of signing of these financial statements, the adoption of the going concern basis in preparing the annual financial statements continues to be appropriate.

2.3. Turnover

Turnover is measured at the fair value of the consideration received, net of discounts and value added taxes. Turnover is recognised at the point of invoice.

2.4. Intangible Fixed Assets and Amortisation - Other Intangible

Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses. All research and development expenditure is recognised in the profit and loss account as an expense as incurred.

2.5. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

Leasehold buildings	Over terms of lease of 5 years
Computer equipment, fixtures and fittings	Straight line over 3, 4 and 5 years

2.6. Leasing and Hire Purchase Contracts

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets.

Assets acquired under hire purchase contracts are depreciated over their useful lives.

Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company.

Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.

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Monterosa Productions Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.7. Financial Instruments

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

2.8. Foreign Currencies

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction.

At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

2.9. Pensions

Contributions to defined contribution plans are expensed in the period to which they relate.

2.10. Investments

Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

2.11. Significant accounting judgement and estimates

The Company calculates its turnover from the rendering of services by using total estimated costs of delivery to calculate the stage of completion.

2.12. Provisions

Provisions are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

3. Average Number of Employees

	2025	2024
Average number of employees, including directors, during the year	39	41

	39	41

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Monterosa Productions Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

4. Intangible Assets

	Development costs
	£
Cost
As at 1 April 2024	499,011

As at 31 March 2025	499,011

Amortisation
As at 1 April 2024	499,011

As at 31 March 2025	499,011

Net Book Value
As at 31 March 2025	-

As at 1 April 2024	-

5. Tangible Assets

	Land & Property
	Leasehold buildings	Computer equipment, fixtures and fittings	Total
	£	£	£
Cost
As at 1 April 2024	57,046	251,832	308,878
Additions	-	15,072	15,072
Disposals	-	(3,426 )	(3,426 )

As at 31 March 2025	57,046	263,478	320,524

Depreciation
As at 1 April 2024	57,046	230,263	287,309
Provided during the period	-	17,787	17,787
Disposals	-	(3,095 )	(3,095 )

As at 31 March 2025	57,046	244,955	302,001

Net Book Value
As at 31 March 2025	-	18,523	18,523

As at 1 April 2024	-	21,569	21,569

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Monterosa Productions Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

6. Investments

	Other
	£
Cost or Valuation
As at 1 April 2024	908

As at 31 March 2025	908

Provision
As at 1 April 2024	-

As at 31 March 2025	-

Net Book Value
As at 31 March 2025	908

As at 1 April 2024	908

Subsidiary undertakings

The company owns 100% of the Equity shares in Monterosa Productions (US) Inc, a company registered in the US at the address: 116 W 23RD Street, 5th Floor, New York, NY 10011.

The company owns 100% of the Equity shares in Monterosa Poland Spolka z Ograniczona Odpowiedzialnoscia, a company Registered in Poland at the address: Kalwaryjska 33/34, 30-509 Krakow.

7. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	559,474	435,205
Amounts owed by group undertakings	2,368,790	167,555
Other debtors	217,252	184,930

	3,145,516	787,690

8. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	-	1,877
Trade creditors	415,289	761,905
Bank loans and overdrafts	200,240	751,728
Amounts owed to group undertakings	2,165,073	-
Other creditors	1,805,660	1,789,447
Taxation and social security	360,947	155,598

	4,947,209	3,460,555

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Monterosa Productions Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

9. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Bank loans	2,586,637	512,500

10. Directors Advances, Credits and Guarantees

Included within Debtors are loans made to directors. The balance at the year end was £13,965 (2024 : £14,336).

The above loan is unsecured, interest free and repayable on demand.

11. Reserves

	Share Premium	Profit and Loss Account
	£	£
As at 1 April 2024	6,991,933	(9,689,432 )
Loss for the year and total comprehensive income	-	(1,701,130 )

Arising on shares issued during the period	155,663	-

As at 31 March 2025	7,147,596	(11,390,562 )

The Company's reserves are as follows:

- Called up share capital reserve represents the nominal value of the shares issued.

- Share premium represents amounts paid over the nominal value of the shares issued.

- Profit and loss account represents cumulative profits or losses.

12. Related Party Transactions

Monterosa Productions (US) Inc

Related party company

Amount due from related party at the end of the year was £2,149,469 (2024 : £61,061).

Monterosa Poland SP

Related party company

Amount due from related party at the end of the year was £219,321 (2024 : £106,494).

Fanatics Holdings Inc

Related party company

Amount due to related party at the end of the year was £2,165,073 (2024 : Nil).

13. Ultimate Controlling Party

There is no ultimate controlling party.

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	5		18,523		21,569
Investments	6		908		908

			19,431		22,477
CURRENT ASSETS
Stocks		-		21,935
Debtors	7	3,145,516		787,690
Cash at bank and in hand		126,150		443,667

		3,271,666		1,253,292
Creditors: Amounts Falling Due Within One Year	8	(4,947,209 )		(3,460,555 )

NET CURRENT ASSETS (LIABILITIES)			(1,675,543 )		(2,207,263 )

TOTAL ASSETS LESS CURRENT LIABILITIES			(1,656,112 )		(2,184,786 )

Creditors: Amounts Falling Due After More Than One Year	9		(2,586,637 )		(512,500 )

NET LIABILITIES			(4,242,749 )		(2,697,286 )

CAPITAL AND RESERVES
Called up share capital			217		213
Share premium account			7,147,596		6,991,933
Profit and Loss Account			(11,390,562 )		(9,689,432 )

SHAREHOLDERS' FUNDS			(4,242,749)		(2,697,286)