REGISTERED NUMBER: 14550844 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

GLOBAL FAN NETWORK LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

B L Best

R S Heer

R L Lyle

REGISTERED OFFICE:

55 Loudoun Road

St Johns Wood

London

NW8 0DL

REGISTERED NUMBER:

14550844 (England and Wales)

ACCOUNTANTS:

mgr Weston Kay LLP

Chartered Accountants

55 Loudoun Road

St John's Wood

London

NW8 0DL

FIXED ASSETS

Investments

4

302,242

300,727

CURRENT ASSETS

Debtors

5

1,743,761

1,680,704

Cash at bank and in hand

6,281

1,984

1,750,042

1,682,688

CREDITORS

Amounts falling due within one year

6

(2,452,154

)

(2,140,573

)

NET CURRENT LIABILITIES

(702,112

)

(457,885

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(399,870

)

(157,158

)

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

(399,970

)

(157,258

)

SHAREHOLDERS' FUNDS

(399,870

)

(157,158

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 June 2026 and were signed on its behalf by:

R S Heer - Director

1.	STATUTORY INFORMATION

Global Fan Network Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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

At the time of approving the financial statements, the company meets its day to day working capital requirements by ongoing revenue and the support of its founding partners. The company's financier has undertaken not to withdraw the current loan facility for the foreseeable future. On this basis, the directors consider it appropriate to prepare the financial statements on a going concern basis.

Turnover

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

Investments in subsidiaries

Investments in subsidiaries are initially recorded at cost, and subsequently stated at cost less any

accumulated impairment losses.

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.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors and loans from connected 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation

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

Current 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.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2024 - 3 ) .

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2024

300,727

Additions

1,515

At 31 March 2025

302,242

NET BOOK VALUE

At 31 March 2025

302,242

At 31 March 2024

300,727

The company's investments at the Balance Sheet date in the share capital of companies include the following:

RLTV Holdings Ltd

Registered office: United Kingdom

Nature of business: Holding company

%

Class of shares:

holding

Ordinary

100.00

United Football Fan Ltd

Registered office: United Kingdom

Nature of business: Content creation services

%

Class of shares:

holding

Ordinary

99.00

AJW Media Ltd

Registered office: United Kingdom

Nature of business: Content creation services

%

Class of shares:

holding

Ordinary

45.00

On Track GP Ltd

Registered office: United Kingdom

Nature of business: Content creation services

%

Class of shares:

holding

Ordinary

100.00

GFN Football Ltd

Registered office: United Kingdom

Nature of business: Content creation services

%

Class of shares:

holding

Ordinary

70.00

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

9,508

12,654

Amounts owed by group undertakings

1,728,798

1,666,560

Other debtors

5,455

1,490

1,743,761

1,680,704

Amounts owed by group undertakings are unsecured, interest free, have no fixed date of repayment and are repayable on demand.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade creditors

21,273

19,742

Amounts owed to group undertakings

2,351,045

2,105,794

Taxation and social security

24,279

-

Other creditors

55,557

15,037

2,452,154

2,140,573

Amounts owed to group undertakings are unsecured, interest free, have no fixed date of repayment and are repayable on demand.

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.25

31.3.24

value:

£

£

10,000

Ordinary

0.01

100

100

8.	RELATED PARTY DISCLOSURES

The company has taken advantage of the exemption available in accordance with FRS 102 Section 1A paragraph 1AC.35 not to disclose transactions entered into between two or more members of a group, as the company and the other subsidiaries are wholly owned subsidiary undertakings of the group to which they are party to the transactions.

The company made sales of £28,183 (2024: £NIL) and incurred expenses of £25,000 (2024: £25,000) from GFN Football Limited, a group company. At the period end the company was owed £35,240 (2024: £NIL) by GFN Football Limited.

The company has incurred expenses of £3,273 (2024: £NIL) from AJW Media Limited, a connected company. At the period end the company was owed £NIL (2024: £NIL) by AJW Media Limited.

The company has incurred expenses of £15,620 (2024: £917) from United Football Fans Limited, a connected company. At the period end the company was owed £1,618,302 (2024: £1,628,860) by United Football Fans Limited.

At the period end, the company owed £1,773,650 (2024: £1,657,739) to its shareholder and financier Animatrix Ltd. Interest of £115,910 (2024: £496,239) was charged by Animatrix Ltd during the year.

At the period end, the company owed £575,292 (2024: £426,555) to Animatrix Founders LLP, a connected entity. Interest of £45,257 (2024: £40,035) was charged by Animatrix Founders LLP during the year.