REGISTERED NUMBER: 14484499 (England and Wales)

Financial Statements

for the Year Ended 31 December 2025

for

Wheelhouse Media UK Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

A G Hugill

REGISTERED OFFICE:

St Johns House

16 Church Street

Bromsgrove

Worcestershire

B61 8DN

REGISTERED NUMBER:

14484499 (England and Wales)

AUDITORS:

Clay GBP Audit Limited

St Johns House

16 Church Street

Bromsgrove

Worcestershire

B61 8DN

FIXED ASSETS

Tangible assets

4

2,894

5,787

CURRENT ASSETS

Debtors

5

152,458

354,453

Cash at bank

13,604

15,039

166,062

369,492

CREDITORS

Amounts falling due within one year

6

26,169

320,661

NET CURRENT ASSETS

139,893

48,831

TOTAL ASSETS LESS CURRENT LIABILITIES

142,787

54,618

PROVISIONS FOR LIABILITIES

723

1,447

NET ASSETS

142,064

53,171

CAPITAL AND RESERVES

Called up share capital

8

100

100

Other reserves

3,269,263

1,786,818

Retained earnings

(3,127,299

)

(1,733,747

)

SHAREHOLDERS' FUNDS

142,064

53,171

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 14 May 2026 and were signed by:

A G Hugill - Director

1.	STATUTORY INFORMATION

Wheelhouse Media UK 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.

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.

Going concern

The financial statements have been prepared on the going concern basis. The validity of this assumption depends on the continued financial support provided by Wheelhouse Group LLC. Wheelhouse Group LLC have confirmed their intention to continue to provide such support that the company requires for it to remain a going concern for the foreseeable future via a letter of support.

Related party exemption

The company has taken advantage of the exemption conferred within FRS102 section 33.1A not to disclose transactions between wholly owned members of the same group.

Turnover

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

Revenue is recognised on the provision of services. Where not all services have been rendered, revenue is recognised based upon the period lapsed compared with total period of the project.

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

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of a company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as an interest expense in the income statement.

Financial assets and liabilities

All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs).

Trade debtors

Trade debtors are recognised initially at transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for 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 receivable.

Trade creditors

Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as amounts falling due after more than one year.

Equity instruments

Equity instruments are measured at the fair value of the cash or other resources transferred or transferrable, net of the direct costs of issuing or receiving the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 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.

Cash at bank and in hand

Cash and cash equivalents include cash in hand, deposits held at call with banks and other short-term liquid investments with original maturities of twelve months or less.

Employment benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2024 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2025

and 31 December 2025

11,573

DEPRECIATION

At 1 January 2025

5,786

Charge for year

2,893

At 31 December 2025

8,679

NET BOOK VALUE

At 31 December 2025

2,894

At 31 December 2024

5,787

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

126,134

321,768

Other debtors

26,324

32,685

152,458

354,453

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

3,192

8,804

Amounts owed to group undertakings

2,902

4,031

Taxation and social security

2

-

Other creditors

20,073

307,826

26,169

320,661

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2024

£

£

Within one year

44,950

43,304

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

100

Ordinary

£1

100

100

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Robert Kempson ACA (Senior Statutory Auditor)

for and on behalf of Clay GBP Audit Limited

10.	ULTIMATE CONTROLLING PARTY

The parent company is Wheelhouse Studios LLC, a company incorporated in the United States of America.

The director considers the ultimate controlling party to be Wheelhouse Group LLC, a company incorporated in the United States of America.

The registered office address of Wheelhouse Group LLC is as follows:

4 Star Point

Suite 201

Stamford, CT 06902

11.	CAPITAL CONTRIBUTION

During the period a capital contribution of £1,482,445 by the shareholder has been recognised directly in equity within retained earnings