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Registered number: 10354744 HURST MEDIA COMPANY (ASSETS) LIMITED UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026
HURST MEDIA COMPANY (ASSETS) LIMITED
COMPANY INFORMATION
Director | J A Hurst
Registered number | 10354744
Registered office | The Frames
| 1 Phipp Street
| London
| EC2A 4PS
HURST MEDIA COMPANY (ASSETS) LIMITED
CONTENTS
| Page
Director's report | 1
Statement of comprehensive income | 2
Statement of financial position | 3 - 4
Statement of changes in equity | 5
Notes to the financial statements | 6 - 10
HURST MEDIA COMPANY (ASSETS) LIMITED
DIRECTOR'S REPORT FOR THE YEAR ENDED 31 MARCH 2026 The director presents his report and the financial statements for the year ended 31 March 2026.
Director
The director who served during the year was:
J A Hurst
Director's responsibilities statement
The director is responsible for preparing the Director's report and the financial statements in accordance with applicable law and regulations. Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period. In preparing these financial statements, the director is required to: ∙select suitable accounting policies for the Company's financial statements and then apply them consistently; ∙make judgments and accounting estimates that are reasonable and prudent; ∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business. The director is responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Small companies note
In preparing this report, the director has taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006. This report was approved by the board on 1 July 2026 and signed on its behalf.
J A Hurst Director
Page 1
HURST MEDIA COMPANY (ASSETS) LIMITED
STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 MARCH 2026
| 2026 | 2025
Note | £ | £
Administrative expenses |  | (2,906) | (4,493)
Fair value movements |  | 79,029 | 101,724
Operating profit |  | 76,123 | 97,231
Interest payable and similar expenses |  | - | (8,303)
Profit before tax |  | 76,123 | 88,928
Tax on profit | 4 | (19,757) | (25,431)
Profit for the financial year |  | 56,366 | 63,497
There was no other comprehensive income for 2026 (2025:£NIL).
The notes on pages 6 to 10 form part of these financial statements.
Page 2
HURST MEDIA COMPANY (ASSETS) LIMITED REGISTERED NUMBER:10354744
STATEMENT OF FINANCIAL POSITION AS AT 31 MARCH 2026
|  | 2026 |  | 2025
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Investments | 6 |  | 519,144 |  | 424,915
Current assets |  |  |  |  |
Debtors | 7 | 6,727 |  | 6,728 |
Cash at bank and in hand |  | 3,435 |  | 4,407 |
|  | 10,162 |  | 11,135 |
Current liabilities |  |  |  |  |
Creditors: amounts falling due within one year | 8 | (320,394) |  | (103,261) |
Net current liabilities |  |  | (310,232) |  | (92,126)
Total assets less current liabilities |  |  | 208,912 |  | 332,789
Provisions for liabilities |  |  |  |  |
Deferred tax | 9 |  | (51,134) |  | (31,377)
Net assets |  |  | 157,778 |  | 301,412
Capital and reserves |  |  |  |  |
Called up share capital | 10 |  | 100 |  | 100
Revaluation reserve |  |  | 153,404 |  | 94,132
Profit and loss account |  |  | 4,274 |  | 207,180
|  |  | 157,778 |  | 301,412
Page 3
HURST MEDIA COMPANY (ASSETS) LIMITED REGISTERED NUMBER:10354744
STATEMENT OF FINANCIAL POSITION (CONTINUED) AS AT 31 MARCH 2026 The director considers 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 director acknowledges his 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 were approved and authorised for issue by the board and were signed on its behalf on 1 July 2026.
J A Hurst
Director
The notes on pages 6 to 10 form part of these financial statements. Page 4
HURST MEDIA COMPANY (ASSETS) LIMITED
STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 MARCH 2026
| Called up share capital | Revaluation reserve | Profit and loss account | Total equity
| £ | £ | £ | £
At 1 April 2024 | 100 | 17,839 | 219,976 | 237,915
Profit for the year | - | - | 63,497 | 63,497
Transfer between reserve | - | 76,293 | (76,293) | -
At 1 April 2025 | 100 | 94,132 | 207,180 | 301,412
Profit for the year | - | - | 56,366 | 56,366
Dividends | - | - | (200,000) | (200,000)
Transfer between reserve | - | 59,272 | (59,272) | -
At 31 March 2026 | 100 | 153,404 | 4,274 | 157,778
| The notes on pages 6 to 10 form part of these financial statements.
Page 5
HURST MEDIA COMPANY (ASSETS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026
1. | General information
Hurst Media Company (Assets) Limited is a private limited liability company registered in England and Wales. Its registered office address is The Frames, 1 Phipp Street, London, EC2A 4PS. The principal activity of the company during the year was that of an investment company. The company's functional and presentational currency is £ Sterling. 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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of 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 | 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.
| 2.3 | 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 reporting 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 reporting 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. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date. Page 6
HURST MEDIA COMPANY (ASSETS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026 2.Accounting policies (continued)
| 2.4 | 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. All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
| 2.5 | Valuation of investments
Other investments are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.
| 2.6 | Basic financial instruments
Basic financial instruments include trade and other debtors, trade and other creditors, cash and cash equivalents, and related party loans. Trade and other debtors are recognised initially at the transaction price less attributable transaction costs. Trade and other creditors are recognised initially at transaction price plus attributable transaction costs. Subsequent to initial recognition they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade and other debtors. If the arrangement constitutes a financing transaction, for example if payment is deferred beyond normal business terms, then it is measured at the present value of future payments discounted at a market rate of interest. Cash and cash equivalents comprise cash balances and call deposits.
| 2.7 | Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
3. | Employees
| The average monthly number of employees, including directors, during the year was 1 (2025 - 1).
Page 7
HURST MEDIA COMPANY (ASSETS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026
4. | Taxation
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
| Corporation tax |  |
| Current tax on profits for the year | - | -
| Deferred tax |  |
| Origination and reversal of timing differences | 19,757 | 25,431
| Tax on profit | 19,757 | 25,431
| Factors affecting tax charge for the year
| The tax assessed for the year is higher than (2025 - higher than) the standard rate of corporation tax in the UK of 19% (2025 - 19%). The differences are explained below:
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
| Profit on ordinary activities before tax | 76,123 | 88,928
| Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 19% (2025 - 19%) | 14,463 | 16,896
| Effects of: |  |
| Non-taxable income - fair value movements | (15,016) | (19,327)
| Group relief | 553 | 2,431
| Deferred tax | 19,757 | 25,431
| Total tax charge for the year | 19,757 | 25,431
| Factors that may affect future tax charges
There are no material factors that may affect future tax charges. Page 8
HURST MEDIA COMPANY (ASSETS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026
5. | Intangible assets
|  | Patents
|  | £
| Cost |
| At 1 April 2025 | 27
| At 31 March 2026 | 27
| Amortisation |
| At 1 April 2025 | 27
| At 31 March 2026 | 27
| Net book value |
| At 31 March 2026 | -
| At 31 March 2025 | -
6. | Fixed asset investments
|  | Other fixed asset investments
|  | £
| Valuation |
| At 1 April 2025 | 424,915
| Additions | 15,200
| Revaluations | 79,029
| At 31 March 2026 | 519,144
7. | Debtors
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
| Other debtors | 6,727 | 6,728
Page 9
HURST MEDIA COMPANY (ASSETS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026
8. | Creditors: Amounts falling due within one year
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
| Trade creditors | - | 1,067
| Amounts owed to group undertakings | 318,949 | 101,067
| Taxation and social security | 126 | 127
| Accruals and deferred income | 1,319 | 1,000
|  | 320,394 | 103,261
9. | Deferred taxation
|  | 2026
|  | £
| At beginning of year | 31,377
| Charged to profit or loss | 19,757
| At end of year | 51,134
| The provision for deferred taxation is made up as follows:
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
| On fair value gains | 51,135 | 31,377
10. | Share capital
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 100 Ordinary shares of £1 each | 100 | 100
11. | Parent undertaking
The immediate and ultimate parent undertaking is Hurst Group Limited, a company registered in England and Wales with registered office address The Frames, 1 Phipp Street, London, EC2A 4PS.
Page 10