Company registration number 06268025 (England and Wales)
HSTV MEDIA LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
PAGES FOR FILING WITH REGISTRAR
HSTV MEDIA LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 7
HSTV MEDIA LIMITED
BALANCE SHEET
AS AT
30 JUNE 2025
30 June 2025
- 1 -
2025
2024
as restated
Notes
£
£
£
£
Fixed assets
Intangible assets
5
540,000
652,500
Current assets
-
-
Creditors: amounts falling due within one year
6
(429,209)
(495,709)
Net current liabilities
(429,209)
(495,709)
Total assets less current liabilities
110,791
156,791
Provisions for liabilities
(105,000)
(118,126)
Net assets
5,791
38,665
Capital and reserves
Called up share capital
7
450,100
450,100
Revaluation reserve
315,000
354,375
Profit and loss reserves
(759,309)
(765,810)
Total equity
5,791
38,665

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

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 22 May 2026
J E Coleman
Director
Company registration number 06268025 (England and Wales)
HSTV MEDIA LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
- 2 -
1
Accounting policies
Company information

HSTV Media Limited is a private company limited by shares incorporated in England and Wales. The registered office is Central House, Beckwith Knowle, Otley Road, Harrogate, HG3 1UF.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

A true t the time of approving the financial statements, t he director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The director ha s confirmed that the company will continue to receive support from its parent company so that it can meet its obligations as they fall due. Thus t he director continues to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover represents fees received from the parent company, High Street TV (Group) Limited for television channel costs.

1.4
Intangible fixed assets other than goodwill

The Directors have chosen to apply the revaluation model. The licences are measured at their fair value at the date of revaluation less any subsequent accumulated amortisation and subsequent accumulated impairment losses.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Licences
10 years straight line
1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

HSTV MEDIA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
1
Accounting policies
(Continued)
- 3 -
1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

1.7
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Valuation of licences

The Company holds licences at fair value. The Directors had previously engaged an independent expert to revalue the licences held by the company. During the year there has been a disposal of one of the licences. The Directors are confident the remaining licences do not require impairment and hold value based on their economic benefit to the wider trading group of which HSTV Media Limited is a member. Further details on this can be found in note 5.

HSTV MEDIA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 4 -
3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
1
1
4
Taxation

In addition to the amount charged to the profit and loss account, the following amounts relating to tax have been recognised directly in other comprehensive income:

as restated
2025
2024
£
£
Deferred tax arising on:
Revaluation of licences
(13,125)
(13,125)
5
Intangible fixed assets
Licences
£
Cost or valuation
At 1 July 2024
725,000
Disposals
(50,000)
At 30 June 2025
675,000
Amortisation and impairment
At 1 July 2024
72,500
Amortisation charged for the year
72,500
Disposals
(10,000)
At 30 June 2025
135,000
Carrying amount
At 30 June 2025
540,000
At 30 June 2024
652,500

On the 15th June 2023, the licences held by the Company were revalued by Expert Media Partners (EMP). This was an independent valuer with significant experience within the market for EPG prominence and has been involved in a large number of swaps and/or sales of EPG slots.

HSTV MEDIA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
5
Intangible fixed assets
(Continued)
- 5 -

If revalued assets were stated on an historical cost basis rather than a fair value basis, the total amounts included would have been as follows:

2025
2024
£
£
Cost
1,100,000
1,365,000
Accumulated amortisation
996,712
1,100,254
Carrying value
103,288
264,746
6
Creditors: amounts falling due within one year
2025
2024
£
£
Amounts owed to group undertakings
429,209
495,709

Amounts owed to group undertakings are unsecured, interest free and have no fixed repayment terms.

7
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
450,100
450,100
450,100
450,100
8
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

Opinion

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 30 June 2025 and of its loss for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

Senior Statutory Auditor:
Jamie Williams
Statutory Auditor:
Sumer Auditco Limited
Date of audit report:
22 May 2026
HSTV MEDIA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 6 -
9
Operating lease commitments

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2025
2024
£
£
968,478
378,170
10
Financial commitments, guarantees and contingent liabilities

Along with fellow subsidiaries, the company guarantees loan notes issued by its parent companies. The amount guaranteed totals £21.2m.

11
Related party transactions

High Street TV Holdings Limited is the smallest and largest group for which consolidated financial statements are prepared. The company is included in the consolidated financial statements of High Street TV Holdings Limited which are publicly available. Consequently the company has taken advantage of the exemption, under paragraph 33.1A of FRS 102 "Related party disclosures" from disclosing related party transactions with entities that are part of the High Street TV Holdings Limited group. Copies of the financial statements of High Street TV Holdings Limited can be obtained by writing to High Street TV Holdings Limited, Central House, Beckwith Knowle, Otley Road, Harrogate, HG3 1UF.

12
Prior period adjustment

During the year it was identified that a previous downwards revaluation of intangible assets had been accounted for through the revaluation reserve, netted against other assets which had been revalued upwards.

The opening reserves have been updated to reflect a transfer between the revaluation reserve and the profit and loss reserves.

Changes to the balance sheet
As previously reported
Adjustment at 1 Jul 2023
Adjustment at 30 Jun 2024
As restated at 30 Jun 2024
£
£
£
£
Provisions for liabilities
Deferred tax
(96,939)
(32,812)
11,625
(118,126)
Capital and reserves
Revaluation reserve
290,815
98,435
(34,875)
354,375
Profit and loss reserves
(681,063)
(131,247)
46,500
(765,810)
Total equity
59,852
(32,812)
11,625
38,665

The revaluation reserve is shown net of deferred tax impacts. The above results in an increase in the revaluation reserve of £84,747 and a corresponding deferred tax increase of £21,187, leading to a net increase in the revaluation reserve of £63,560.

The corresponding adjustments are reflected in the profit an loss reserves for the year ending 30 June 2023, during which the loss on the revaluation should have been recorded.

HSTV MEDIA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
12
Prior period adjustment
(Continued)
- 7 -
Changes to the profit and loss account
As previously reported
Adjustment
As restated
Period ended 30 June 2024
£
£
£
Loss for the financial period
(6,000)
-
(6,000)
13
Parent company

The company is a wholly owned subsidiary of High Street TV (Group) Limited, a company incorporated in the UK. The ultimate controlling party is Endless LLP, acting on behalf of Endless Finds IVA and IVB.

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