Ground Control Studios Limited

	Page
Balance Sheet	1
Notes to the Financial Statements	2—4

1. General Information

Ground Control Studios Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10915839 . The registered office is 66 Paul Street, London, EC2A 4NA.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.

2.2. Going Concern Disclosure

The Director has reviewed the after-date financial information, including projections, and has a reasonable expectation that the company has adequate resources to continue to adopt the going concern basis in preparing the financial statement.

2.3. Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the rendering of services is recognised by reference to the stage of completion of the project or contract. The stage of completion of a project or contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	25% reducing balance
Motor Vehicles	15% reducing balance
Fixtures & Fittings	15% reducing balance
Computer Equipment	33% straight line

Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible 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 any individual asset, the company estimates the recoverable amount of the cash-generating unit to

which the asset belongs.

The recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in the profit and loss unless the relevant asset is carried at a revalued amount, in which case, the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of it recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in the profit or loss unless the relevant asset is carried at a revalued amount, in which case, the reversal of the impairment loss is treated as a revaluation increase.

2.5. Foreign Currencies

Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

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Ground Control Studios Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 August 2025

2.6. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 4 (2024: 4)

4. Tangible Assets

	Plant & Machinery	Motor Vehicles	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£	£
Cost
As at 1 September 2024	14,395	141	1,064	36,225	51,825
Additions	12,882	-	2,996	27,004	42,882

As at 31 August 2025	27,277	141	4,060	63,229	94,707

Depreciation
As at 1 September 2024	4,610	31	388	20,942	25,971
Provided during the period	5,711	-	567	17,152	23,430

As at 31 August 2025	10,321	31	955	38,094	49,401

Net Book Value
As at 31 August 2025	16,956	110	3,105	25,135	45,306

As at 1 September 2024	9,785	110	676	15,283	25,854

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Ground Control Studios Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 August 2025

5. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	661,256	21,689
Prepayments and accrued income	9,660	10,961
Other debtors	7,757	4,757
VAT	11,149	-
Director's loan account	104,344	45,387

	794,166	82,794

6. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	46,741	24,514
Other loans	27,521	-
Other taxes and social security	53,260	116,811
Credit card balances	66,691	7,078
Accruals and deferred income	1,008,706	42,622

	1,202,919	191,025

7. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	200	200

8. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to the directors: £104,344

	As at 1 September 2024	Amounts advanced	Amounts repaid	Amounts written off	As at 31 August 2025
	£	£	£	£	£
Mr Michael Stanish	45,387	104,344	45,387	-	104,344

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

The balance will be repaid within nine months of the year-end.

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		45,306		25,854

			45,306		25,854
CURRENT ASSETS
Debtors	5	794,166		82,794
Cash at bank and in hand		363,744		177,608

		1,157,910		260,402
Creditors: Amounts Falling Due Within One Year	6	(1,202,919 )		(191,025 )

NET CURRENT ASSETS (LIABILITIES)			(45,009 )		69,377

TOTAL ASSETS LESS CURRENT LIABILITIES			297		95,231

NET ASSETS			297		95,231

CAPITAL AND RESERVES
Called up share capital	7		200		200
Profit and Loss Account			97		95,031

SHAREHOLDERS' FUNDS			297		95,231