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REGISTERED NUMBER: 02828689 (England and Wales)

Report of the Director and

Unaudited Consolidated Financial Statements for the Year Ended 30 June 2025

for

Clear Cut Pictures Limited

Clear Cut Pictures Limited (Registered number: 02828689)

Contents of the Consolidated Financial Statements

for the Year Ended 30 June 2025

Page |

Company Information | 1 |

Report of the Director | 2 |

Consolidated Income Statement | 3 |

Consolidated Balance Sheet | 4 |

Company Balance Sheet | 6 |

Notes to the Consolidated Financial Statements | 8 |

Clear Cut Pictures Limited

Company Information

for the Year Ended 30 June 2025

| DIRECTOR: | H G Queiro

| REGISTERED OFFICE: | 44-48 Bloomsbury Street

| London

| WC18 3QJ

| REGISTERED NUMBER: | 02828689 (England and Wales)

| ACCOUNTANTS: | OPPENHEIMS Chartered Accountants

| Statutory Auditors

| 1a Waltham Court

| Milley Lane

| Reading

| Berkshire

| RG10 9AA

Clear Cut Pictures Limited (Registered number: 02828689)

Report of the Director

for the Year Ended 30 June 2025

The director presents his report with the financial statements of the company and the group for the year ended 30 June 2025.

DIRECTOR

H G Queiro held office during the whole of the period from 1 July 2024 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

H G Queiro - Director

12 February 2026

Clear Cut Pictures Limited (Registered number: 02828689)

Consolidated Income Statement

for the Year Ended 30 June 2025

| 30.6.25 |  | 30.6.24

| Notes | £ | £ |

TURNOVER | 4,115,948 |  | 4,297,663 |  |

Cost of sales | 127,113 |  | 60,243 |  |

GROSS PROFIT | 3,988,835 |  | 4,237,420 |  |

Administrative expenses | 4,353,406 |  | 4,413,029 |  |

OPERATING LOSS | 4 | (364,571 | ) | (175,609 | ) |

Interest receivable and similar income | 15,346 |  | 16,249 |  |

(349,225 | ) | (159,360 | ) |

Gain/loss on revaluation of investment property | 11,533 |  | 31,916 |  |

LOSS BEFORE TAXATION | (337,692 | ) | (127,444 | ) |

Tax on loss | 5 | 145 |  | 343 |  |

LOSS FOR THE FINANCIAL YEAR | (337,837 | ) | (127,787 | ) |

Loss attributable to:

Owners of the parent | (337,837 | ) | (127,787 | ) |

Clear Cut Pictures Limited (Registered number: 02828689)

Consolidated Balance Sheet

30 June 2025

| 30.6.25 | 30.6.24 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 7 | 332,207 |  | 507,402 |  |

Investments | 8 | - |  | - |  |

332,207 |  | 507,402 |  |

CURRENT ASSETS

Debtors | 9 | 1,010,483 |  | 972,686 |  |

Investments | 10 | 245,569 |  | 234,036 |  |

Prepayments and accrued income | 74,413 |  | 40,697 |  |

Cash at bank | 655,106 |  | 915,616 |  |

1,985,571 |  | 2,163,035 |  |

CREDITORS

Amounts falling due within one year | 11 | 444,787 |  | 453,704 |  |

NET CURRENT ASSETS | 1,540,784 |  | 1,709,331 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 1,872,991 |  | 2,216,733 |  |

ACCRUALS AND DEFERRED INCOME | 96,100 |  | 102,005 |  |

NET ASSETS | 1,776,891 |  | 2,114,728 |  |

CAPITAL AND RESERVES

Called up share capital | 25,000 |  | 25,000 |  |

Other reserves | 68,639 |  | 68,639 |  |

Retained earnings | 1,683,252 |  | 2,021,089 |  |

SHAREHOLDERS' FUNDS | 1,776,891 |  | 2,114,728 |  |

The company and the group are entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2025.

The members have not required the company and the group to obtain an audit of its financial statements for the year ended 30 June 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a) | ensuring that the group 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 and the group as at the end of each financial year and of the group's 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 and the group.

Clear Cut Pictures Limited (Registered number: 02828689)

Consolidated Balance Sheet - continued

30 June 2025

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

The financial statements were approved by the director and authorised for issue on 12 February 2026 and were signed by:

H G Queiro - Director

Clear Cut Pictures Limited (Registered number: 02828689)

Company Balance Sheet

30 June 2025

| 30.6.25 | 30.6.24 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 7 | 216,958 |  | 371,203 |  |

Investments | 8 | 40,000 |  | 40,000 |  |

256,958 |  | 411,203 |  |

CURRENT ASSETS

Debtors | 9 | 970,564 |  | 838,356 |  |

Investments | 10 | 245,569 |  | 234,036 |  |

Cash at bank | 536,899 |  | 805,014 |  |

1,753,032 |  | 1,877,406 |  |

CREDITORS

Amounts falling due within one year | 11 | 1,007,418 |  | 875,678 |  |

NET CURRENT ASSETS | 745,614 |  | 1,001,728 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 1,002,572 |  | 1,412,931 |  |

ACCRUALS AND DEFERRED INCOME | 96,100 |  | 102,005 |  |

NET ASSETS | 906,472 |  | 1,310,926 |  |

CAPITAL AND RESERVES

Called up share capital | 25,000 |  | 25,000 |  |

Retained earnings | 881,472 |  | 1,285,926 |  |

SHAREHOLDERS' FUNDS | 906,472 |  | 1,310,926 |  |

Company's loss for the financial year | (404,454 | ) | (282,602 | ) |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Clear Cut Pictures Limited (Registered number: 02828689)

Company Balance Sheet - continued

30 June 2025

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

The financial statements were approved by the director and authorised for issue on 12 February 2026 and were signed by:

H G Queiro - Director

Clear Cut Pictures Limited (Registered number: 02828689)

Notes to the Consolidated Financial Statements

for the Year Ended 30 June 2025

1. | STATUTORY INFORMATION

| Clear Cut Pictures 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 General Information page.

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.

| Turnover

| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

| Plant and machinery etc | - | 25% on cost and in accordance with the property

| Taxation

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

| Current or deferred taxation assets and liabilities are not discounted.

| 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 not recognised in respect of all timing differences that have originated but not reversed at the balance sheet date on the grounds that there are losses available and future capital expenditure will offset any reversal of timing differences.

| 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.

| At 30th June 2025 the maximum potential reversal (net of losses) is £nil and deferred tax not provided

| £nil.

| Hire purchase and leasing commitments

| 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 group operates a defined contribution pension scheme. Contributions payable to the group'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 58 (2024 - 65 ) .

Clear Cut Pictures Limited (Registered number: 02828689)

Notes to the Consolidated Financial Statements - continued

for the Year Ended 30 June 2025

3. | EMPLOYEES AND DIRECTORS - continued

| The average number of employees by undertakings that were proportionately consolidated during the year was 2 (2024 - 2 ) .

4. | OPERATING LOSS

| The operating loss is stated after charging:

| 30.6.25 |  | 30.6.24

£ | £ |

| Depreciation - owned assets | 228,250 |  | 259,035 |  |

5. | TAXATION

| Analysis of the tax charge

| The tax charge on the loss for the year was as follows:

| 30.6.25 |  | 30.6.24

£ | £ |

| Current tax:

| UK corporation tax | 145 |  | 343 |  |

| Tax on loss | 145 |  | 343 |  |

| At 30th June 202 there were group tax losses of £649,000 (2024 - £485,000) available to set against future profits.

6. | INDIVIDUAL INCOME STATEMENT

| As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.

7. | TANGIBLE FIXED ASSETS

| Group

| Plant and

| machinery

| etc

£ |

| COST

| At 1 July 2024 | 2,907,587 |  |

| Additions | 53,055 |  |

| At 30 June 2025 | 2,960,642 |  |

| DEPRECIATION

| At 1 July 2024 | 2,400,185 |  |

| Charge for year | 228,250 |  |

| At 30 June 2025 | 2,628,435 |  |

| NET BOOK VALUE

| At 30 June 2025 | 332,207 |  |

| At 30 June 2024 | 507,402 |  |

Clear Cut Pictures Limited (Registered number: 02828689)

Notes to the Consolidated Financial Statements - continued

for the Year Ended 30 June 2025

7. | TANGIBLE FIXED ASSETS - continued

| Company

| Plant and

| machinery

| etc

£ |

| COST

| At 1 July 2024 | 2,631,756 |  |

| Additions | 53,055 |  |

| At 30 June 2025 | 2,684,811 |  |

| DEPRECIATION

| At 1 July 2024 | 2,260,553 |  |

| Charge for year | 207,300 |  |

| At 30 June 2025 | 2,467,853 |  |

| NET BOOK VALUE

| At 30 June 2025 | 216,958 |  |

| At 30 June 2024 | 371,203 |  |

8. | FIXED ASSET INVESTMENTS

| Company

| Shares in

| group

| undertakings

£ |

| COST

| At 1 July 2024

| and 30 June 2025 | 40,000 |  |

| NET BOOK VALUE

| At 30 June 2025 | 40,000 |  |

| At 30 June 2024 | 40,000 |  |

9. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| Group |  | Company |

| 30.6.25 |  | 30.6.24 |  | 30.6.25 |  | 30.6.24 |

£ | £ | £ | £ |

| Trade debtors | 615,035 |  | 592,043 |  | 575,216 |  | 457,813 |  |

| Other debtors | 395,448 |  | 380,643 |  | 395,348 |  | 380,543 |  |

1,010,483 |  | 972,686 |  | 970,564 |  | 838,356 |  |

Clear Cut Pictures Limited (Registered number: 02828689)

Notes to the Consolidated Financial Statements - continued

for the Year Ended 30 June 2025

10. | CURRENT ASSET INVESTMENTS

| Group |  | Company |

| 30.6.25 |  | 30.6.24 |  | 30.6.25 |  | 30.6.24 |

£ | £ | £ | £ |

| Listed investments | 245,569 |  | 234,036 |  | 245,569 |  | 234,036 |  |

11. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| Group |  | Company |

| 30.6.25 |  | 30.6.24 |  | 30.6.25 |  | 30.6.24 |

£ | £ | £ | £ |

| Trade creditors | 220,700 |  | 198,824 |  | 193,668 |  | 158,287 |  |

| Amounts owed to group undertakings | - |  | - |  | 603,906 |  | 497,483 |  |

| Taxation and social security | 204,084 |  | 212,080 |  | 190,630 |  | 198,870 |  |

| Other creditors | 20,003 |  | 42,800 |  | 19,214 |  | 21,038 |  |

444,787 |  | 453,704 |  | 1,007,418 |  | 875,678 |  |

12. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

| The following advances and credits to a director subsisted during the years ended 30 June 2025 and 30 June 2024:

| 30.6.25 |  | 30.6.24

£ | £ |

| H G Queiro

| Balance outstanding at start of year | 50,000 |  | 55,000 |  |

| Amounts repaid | - |  | - |  |

| Amounts written off | - |  | - |  |

| Amounts waived | - |  | - |  |

| Balance outstanding at end of year | - |  | 50,000 |  |

13. | ULTIMATE CONTROLLING PARTY

| The ultimate controlling party is H G Queiro.