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Registered Number: 05461481 PEACEFROG HOLDINGS LIMITED UNAUDITED DIRECTOR'S REPORT AND FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 31 DECEMBER 2024
PEACEFROG HOLDINGS LIMITED REGISTERED NUMBER:05461481
BALANCE SHEET AS AT 31 DECEMBER 2024
|  | 2024 |  | 2023
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 5 |  | 18,719 |  | 16,540
Investments | 6 |  | 15,020 |  | 89
|  |  | 33,739 |  | 16,629
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 7 | 699,270 |  | 730,853 |
Cash at bank and in hand | 8 | 40,092 |  | 28,483 |
|  | 739,362 |  | 759,336 |
Creditors: amounts falling due within one year | 9 | (520,162) |  | (500,730) |
Net current assets |  |  | 219,200 |  | 258,606
Total assets less current liabilities |  |  | 252,939 |  | 275,235
Provisions for liabilities |  |  |  |  |
Deferred tax | 10 | (6,094) |  | (4,193) |
|  |  | (6,094) |  | (4,193)
Net assets |  |  | 246,845 |  | 271,042
Capital and reserves |  |  |  |  |
Called up share capital | 11 |  | 100 |  | 100
Profit and loss account |  |  | 246,745 |  | 270,942
|  |  | 246,845 |  | 271,042
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PEACEFROG HOLDINGS LIMITED REGISTERED NUMBER:05461481
BALANCE SHEET (CONTINUED) AS AT 31 DECEMBER 2024 The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
................................................ P J Hutchison
Director
Date: 31 March 2026
The notes on pages 3 to 10 form part of these financial statements. Page 2
PEACEFROG HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
1. | General information
Peacefrog Holdings Limited is a private company limited by shares, registered in England and Wales within the United Kingdom. The registered address is 123 Westbourne Studios 242 Acklam Road, North Kensington, London, W10 5JJ and the registered number is 05461481. The financial statements are prepared in GBP, the functional currency rounded to the nearest £1. 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 requirements and the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. The following principal accounting policies have been applied:
| 2.2 | Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company 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: 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 Company 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.
| 2.3 | 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. Intagible fixed assets were amortised over a period of 7 years using the stright line method.
| 2.4 | 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. Page 3
PEACEFROG HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.4 | Tangible fixed assets (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis. Depreciation is provided on the following basis:
|  |  |  | Fixtures and fittings | - | 25% written down value
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
| 2.5 | Valuation of investments
Investments in subsidiaries are measured at cost less accumulated impairment.
| 2.6 | 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.
| 2.7 | 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.
| 2.8 | 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. Page 4
PEACEFROG HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.9 | 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 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'.
| 2.10 | 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.
| 2.11 | Operating leases: the Company 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.
| 2.12 | Pensions
Defined contribution pension plan The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company 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 Company in independently administered funds. Page 5
PEACEFROG HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.13 | Interest income
Interest income is recognised in profit or loss using the effective interest method.
| 2.14 | 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.
| 2.15 | 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 operates and generates 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; and ∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. 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.
3. | Employees
| The average monthly number of employees, including directors, during the year was 3 (2023 - 4).
Page 6
PEACEFROG HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
4. | Intangible assets
|  | Artists and licensing agreements
|  | £
| Cost |
| At 1 January 2024 | 48,000
| At 31 December 2024 | 48,000
| Amortisation |
| At 1 January 2024 | 48,000
| At 31 December 2024 | 48,000
| Net book value |
| At 31 December 2024 | -
| At 31 December 2023 | -
Page 7
PEACEFROG HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
5. | Tangible fixed assets
|  | Fixtures and fittings
|  | £
| Cost or valuation |
| At 1 January 2024 | 260,451
| Additions | 10,015
| Disposals | (20,055)
| At 31 December 2024 | 250,411
| Depreciation |
| At 1 January 2024 | 243,911
| Charge for the year on owned assets | 6,939
| Disposals | (19,158)
| At 31 December 2024 | 231,692
| Net book value |
| At 31 December 2024 | 18,719
| At 31 December 2023 | 16,540
6. | Fixed asset investments
|  | Investments in subsidiary companies | Unlisted investments | Total
|  | £ | £ | £
| Cost or valuation |  |  |
| At 1 January 2024 | 89 | - | 89
| Additions | - | 14,931 | 14,931
| At 31 December 2024 | 89 | 14,931 | 15,020
Page 8
PEACEFROG HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
7. | Debtors
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Trade debtors | 16,024 | 865
| Amounts owed by group undertakings | 502,912 | 551,140
| Other debtors | 138,216 | 146,267
| Prepayments and accrued income | 22,638 | 23,667
| Tax recoverable | 19,480 | 8,914
|  | 699,270 | 730,853
8. | Cash and cash equivalents
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Cash at bank and in hand | 40,092 | 28,483
|  | 40,092 | 28,483
9. | Creditors: Amounts falling due within one year
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Trade creditors | 53,275 | 48,338
| Amounts owed to group undertakings | 46,457 | 29,701
| Corporation tax | 10,600 | 13,623
| Other taxation and social security | 28,760 | 26,579
| Other creditors | 257,437 | 253,365
| Accruals and deferred income | 123,633 | 129,124
|  | 520,162 | 500,730
Page 9
PEACEFROG HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
10. | Deferred taxation
|  | 2024 | 2023
|  | £ | £
| At beginning of year | (4,193) | (2,684)
| Charged to profit or loss | (1,901) | (1,509)
| At end of year | (6,094) | (4,193)
| The provision for deferred taxation is made up as follows:
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Accelerated capital allowances | (6,094) | (4,135)
| Other timing differences | - | (58)
|  | (6,094) | (4,193)
11. | Share capital
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 100 (2023 - 100) Ordinary shares of £1.00 each | 100 | 100
12. | Related party transactions
| The company has taken advantage of the exemption available in Financial Reporting Standard 102 Section 33 whereby it has not disclosed transactions with any wholly owned subsidiary undertaking of the group. At 31 December 2024, an amount was due from the director P J Hutchison of £70,771 (2023: £39,466) to the company. The advances are unsecured and repayable on demand. At 31 December 2024, an amount was due from the director P Vernol of £137 (2023: £137) to the company. The advances are unsecured and repayable on demand.
13. | Controlling party
The company was under the control of Hutchison throught the current and previous year. Hutchison is the managing director and sole shareholder.
Page 10