Company registration number 01713597 (England and Wales)
VISUAL DATA MEDIA SERVICES LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
VISUAL DATA MEDIA SERVICES LIMITED
COMPANY INFORMATION
Directors
Mr J Trautman
Mr S Roue
Company number
01713597
Registered office
316-318 Latimer Road
London
WA10 6QN
Independent auditor
Sedulo Audit Limited
605 Albert House
256-260 Old Street
London
United Kingdom
EC1V 9DD
VISUAL DATA MEDIA SERVICES LIMITED
CONTENTS
Page
Strategic report
1 - 3
Directors' report
4 - 5
Directors' responsibilities statement
6
Independent auditor's report
7 - 9
Profit and loss account
10
Statement of comprehensive income
11
Balance sheet
12
Statement of changes in equity
13
Notes to the financial statements
14 - 28
VISUAL DATA MEDIA SERVICES LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
- 1 -

The directors present the strategic report for the year ended 31 December 2025.

Review of the business

FY2025 represented a year of stabilisation and operational improvement for the company against a backdrop of continued change across the global media and entertainment industry. Whilst market conditions remained competitive, client demand showed signs of recovery and the company continued to strengthen its position as a trusted provider of digital media supply chain services.

The industry continued to evolve through increased adoption of artificial intelligence, automation and cloud-based workflows. These developments are changing how content is prepared, managed, localised and distributed, creating opportunities for service providers capable of combining technology-enabled solutions with high-quality operational delivery.

The company continued to focus on workflow efficiency, customer service and operational discipline throughout the year. In addition, the business benefited from cost optimisation initiatives undertaken in prior periods, supporting a significant improvement in operating performance compared with the previous year.

Principal risks and uncertainties

As a media services business operating in an international and rapidly evolving industry, the company is exposed to a number of risks and uncertainties:

Technological change and idustry disruptions

The continued advancement of artificial intelligence, automation and emerging media technologies presents both opportunities and risks. Failure to adapt to changing customer requirements, workflows and service expectations could impact competitiveness.

The company continues to invest in technology, process improvement and workflow optimisation to ensure services remain relevant, efficient and scalable.

Economic and market conditions

Macroeconomic uncertainty, inflationary pressures and changing investment strategies across the entertainment sector may impact customer spending and project volumes.

Management continues to closely monitor market developments while maintaining a disciplined approach to cost control, resource planning and cash management.

Talent and operational delivery

The company relies on skilled operational and technical personnel to deliver services to customers. The ability to attract, develop and retain experienced employees remains important to maintaining service quality and supporting future growth.

The company continues to invest in employee development, training and operational processes to support long-term sustainability.

VISUAL DATA MEDIA SERVICES LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 2 -
Key performance indicators

Financial key performance indicators

The company delivered improved financial performance during FY2025.

Revenue increased to £13.8 million from £12.7 million in the prior year, reflecting improved customer activity and continued demand for the company’s services.

Gross profit increased to £5.5 million (2024: £5.4 million), demonstrating the resilience of the operating model despite ongoing market pressures.

Administrative expenses reduced significantly to £5.6 million (2024: £6.9 million), reflecting the benefits of cost optimisation initiatives and improved operational efficiency.

As a result, the company reduced its operating loss to £0.1 million compared with an operating loss of £1.5 million in FY2024, representing a substantial year-on-year improvement.

The company also strengthened its liquidity position, increasing cash balances to £0.8 million at year end compared with £0.6 million in the prior year.

Future Developments

The directors remain confident in the long-term outlook for the business and believe the company is well positioned to benefit from ongoing growth in digital media services, localisation and content distribution.

The company will continue to focus on operational efficiency, customer service excellence and technology-enabled service delivery. Investment in workflow optimisation, automation and emerging technologies will remain important areas of strategic focus.

Management will continue to seek opportunities to improve profitability, strengthen customer relationships and support sustainable long-term growth while maintaining financial discipline and operational flexibility.

VISUAL DATA MEDIA SERVICES LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 3 -
Directors' Statement of Compliance with Duty to Promote the Success of the Company

The directors of the company, as those of all UK companies, must act in accordance with a set of general duties. These duties detailed in section 172 of the UK Companies Act 2006 which is summarised as follows:

A director of a company must act in a way they consider, in good faith, would be most likely to promote the success of the Company for the benefit of its shareholders as a whole and, in doing so have regard (amongst other matters) to:

1. The likely consequences of any decisions in the long term:

The company continues to invest in equipment and technology and develop its people and processes to enable it to be competitive for the short, medium and long term.

2. The interest of the company's employees:

Our employees are at the heart of our company, and we are dedicated to fostering a safe and supportive environment that empowers them to succeed. We also uphold a strong commitment to diversity and inclusion, implementing initiatives and policies that ensure every employee is respected and treated equitably.

3. The need to foster the company's business relationships with suppliers' customers and others business relationships:

Our customers remain central to our mission, and our teams provide exceptional service and quality. We aim to sustain a strong reputation by adhering to high standards of business conduct. This year, we have devoted considerable effort to collaborating with our customers, identifying best practices, and staying adaptable to meet their evolving needs.

Our business thrives on solid vendor relationships, and we are committed to strengthening these partnerships. By working together, we ensure the sourcing of high-quality products at competitive prices, all while prioritising ethical and sustainable practices. We value our diverse network of vendors and have implemented efficient systems to guarantee timely payments.

4. The impact of the company's operations on the community and the environment:

As a responsible company, we recognise the importance of protecting the environment and minimising our carbon footprint. We are constantly integrating sustainable practices across our operations, including reducing energy consumption, recycling waste, and promoting the use of environmentally friendly products. Our commitment to advancing sustainability remains our priority.

5. The desirability of the company maintaining a reputation for high standards of business conduct:

The company prides itself on its professional reputation and ethical processes. We are regularly audited by external bodies to ensure the highest compliance.

6. The need to act fairly as between stakeholders of the company:

Fairness and equality are a major strength of the business, we work with members at all levels and promote a good working relationship between all colleagues.

On behalf of the board

Mr S Roue
Director
6 July 2026
VISUAL DATA MEDIA SERVICES LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
- 4 -

The directors present their annual report and financial statements for the year ended 31 December 2025.

Principal activities

The principal activity of the company continued to be that of the provision of digital media supply chain services.

Results and dividends

The results for the year are set out on page 10.

No ordinary dividends were paid in the current or previous year. The directors do not recommend payment of a final dividend.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

Mr J Trautman
Mr S Roue
Qualifying third party indemnity provisions

The company has made qualifying third party indemnity provisions for the benefit of its directors during the year. These provisions remain in force at the reporting date.

Financial risk management

The company’s operations expose it to a number of financial risks, including cash flow risk, foreign exchange risk, credit risk and technology and economic risk.

Cash flow risk

The directors closely monitor the company’s liquidity position to ensure sufficient resources are available to support operational and strategic requirements. Cash flow risks primarily relate to the timing of customer receipts, working capital management and intercompany funding requirements.

The company mitigates these risks through detailed short and long-term cash flow forecasting, strong credit control procedures, disciplined cost management and regular engagement with key customers and suppliers. The directors are satisfied that appropriate controls and resources are in place to support the company as a going concern.

Foreign exchange

As part of an international group, the company is exposed to foreign currency fluctuations arising from customer transactions and intercompany activities. Management actively monitors exchange rate movements and seeks to minimise exposure through ongoing operational and financial oversight.

Credit risk

The company is exposed to credit risk through trade receivables and customer payment behaviour. To mitigate this risk, appropriate credit checks are performed prior to entering into commercial arrangements and receivable balances are actively monitored throughout the year.

Technology and economic risk

The media services industry continues to experience rapid technological advancement, increasing automation and evolving customer requirements. In addition, broader economic uncertainty may impact customer demand and project volumes.

The company continues to invest in workflow optimisation, technology-enabled services and operational efficiency initiatives to maintain competitiveness whilst retaining a flexible and disciplined operating model.

VISUAL DATA MEDIA SERVICES LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 5 -
Post reporting date events

There have been no material events since the balance sheet date which would require adjustment to, or disclosure in, the financial statements.

Auditor

The auditor, Sedulo Audit Limited, is deemed to be reappointed under section 487(2) of the Companies Act 2006.

Energy and carbon report

As the company has not consumed more than 40,000 kWh of energy in this reporting period, it qualifies as a low energy user under these regulations and is not required to report on its emissions, energy consumption or energy efficiency activities.

Matters covered in the Strategic report

The company has chosen in accordance with Companies Act 2006, s. 414C(11) to set out in the company's strategic report information required by Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008, Sch. 7 to be contained in the directors' report. It has done so in respect of future developments.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

On behalf of the board
Mr S Roue
Director
6 July 2026
VISUAL DATA MEDIA SERVICES LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2025
- 6 -

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law, the directors must not approve the financial statements unless they are 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 directors are required to:

- select suitable accounting policies and then apply them consistently;

- make judgements and accounting estimates that are reasonable and prudent;

- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are 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 enable them to ensure that the financial statements comply with the Companies Act 2006. They are 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.

VISUAL DATA MEDIA SERVICES LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF VISUAL DATA MEDIA SERVICES LIMITED
- 7 -
Opinion

We have audited the financial statements of Visual Data Media Services Limited (the 'company') for the year ended 31 December 2025 which comprise the profit and loss account, the statement of comprehensive income, the balance sheet, the statement of changes in equity and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 31 December 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.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

- the information given in the strategic report and the directors' r eport for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- the strategic report and the directors' report have been prepared in accordance with applicable legal requirements.

VISUAL DATA MEDIA SERVICES LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF VISUAL DATA MEDIA SERVICES LIMITED (CONTINUED)
- 8 -
Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identifie d material misstatements in the strategic report or the directors' r eport.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

- the financial statements are not in agreement with the accounting records and returns; or

- certain disclosures of directors' remuneration specified by law are not made; or

- we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the directors' r esponsibilities s tatement set out on page 6, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud.

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

- we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the digital media sector;

- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006 and taxation legislation;

- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and

- identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and

- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

VISUAL DATA MEDIA SERVICES LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF VISUAL DATA MEDIA SERVICES LIMITED (CONTINUED)
- 9 -

To address the risk of fraud through management bias and override of controls, we:

- performed analytical procedures to identify any unusual or unexpected relationships;

- tested journal entries selected on a risk criteria basis to identify unusual transactions; and

- investigated the rationale behind significant or unusual transactions; and

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

- agreeing financial statement disclosures to underlying supporting documentation;

- reading the minutes of meetings of those charged with governance;

- enquiring of management as to any actual and potential litigation and claims.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Ross Preston CA (Senior Statutory Auditor)
For and on behalf of Sedulo Audit Limited
Chartered Certified Accountants
605 Albert House
256-260 Old Street
London
EC1V 9DD
United Kingdom
8 July 2026
VISUAL DATA MEDIA SERVICES LIMITED
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2025
- 10 -
2025
2024
Notes
£
£
Turnover
3
13,794,364
12,657,167
Cost of sales
(8,296,596)
(7,294,143)
Gross profit
5,497,768
5,363,024
Administrative expenses
(5,599,927)
(6,892,804)
Operating loss
6
(102,159)
(1,529,780)
Interest payable and similar expenses
8
(51,614)
(59,093)
Loss before taxation
(153,773)
(1,588,873)
Tax on loss
9
-
0
-
0
Loss for the financial year
(153,773)
(1,588,873)

The profit and loss account has been prepared on the basis that all operations are continuing operations.

The notes on pages 14 to 28 form part of these financial statements.

VISUAL DATA MEDIA SERVICES LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2025
- 11 -
2025
2024
£
£
Loss for the year
(153,773)
(1,588,873)
Other comprehensive income
-
-
Total comprehensive income for the year
(153,773)
(1,588,873)
There were no recognised gains or losses for 2025 or 2024 other than those included in the statement of comprehensive income.

The notes on pages 14 to 28 form part of these financial statements.

VISUAL DATA MEDIA SERVICES LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2025
31 December 2025
- 12 -
2025
2024
Notes
£
£
£
£
Fixed assets
Goodwill
10
368,712
508,572
Other intangible assets
10
290,443
728,092
Total intangible assets
659,155
1,236,664
Tangible assets
11
574,475
1,290,525
Investments
12
847
847
1,234,477
2,528,036
Current assets
Stocks
14
-
2,430
Debtors
15
8,827,326
7,548,584
Cash at bank and in hand
828,444
615,514
9,655,770
8,166,528
Creditors: amounts falling due within one year
16
(3,136,389)
(2,654,576)
Net current assets
6,519,381
5,511,952
Total assets less current liabilities
7,753,858
8,039,988
Creditors: amounts falling due after more than one year
17
(397,359)
(529,716)
Provisions for liabilities
Deferred tax liability
19
17,841
17,841
(17,841)
(17,841)
Net assets
7,338,658
7,492,431
Capital and reserves
Called up share capital
21
560
560
Capital redemption reserve
22
440
440
Profit and loss reserves
7,337,658
7,491,431
Total equity
7,338,658
7,492,431

The notes on pages 14 to 28 form part of these financial statements.

The financial statements were approved by the board of directors and authorised for issue on 6 July 2026 and are signed on its behalf by:
Mr S Roue
Director
Company registration number 01713597 (England and Wales)
VISUAL DATA MEDIA SERVICES LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2025
- 13 -
Share capital
Capital redemption reserve
Profit and loss reserves
Total
£
£
£
£
Balance at 1 January 2024
560
440
9,080,304
9,081,304
Year ended 31 December 2024:
Loss and total comprehensive income
-
-
(1,588,873)
(1,588,873)
Balance at 31 December 2024
560
440
7,491,431
7,492,431
Year ended 31 December 2025:
Loss and total comprehensive income
-
-
(153,773)
(153,773)
Balance at 31 December 2025
560
440
7,337,658
7,338,658

The notes on pages 14 to 28 form part of these financial statements.

VISUAL DATA MEDIA SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 14 -
1
Accounting policies
Company information

Visual Data Media Services Limited is a private company limited by shares incorporated in England and Wales. The registered office is 316-318 Latimer Road, London, WA10 6QN.

1.1
Basis of preparation

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.

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.

The company has taken advantage of the exemption under section 400 of the Companies Act 2006 not to prepare consolidated accounts. The financial statements present information about the company as an individual entity and not about its group.

The financial statements of the company are consolidated in the financial statements of VDMS UK Holdings Limited. These consolidated financial statements are available from its registered office, 316-318 Latimer Road, London, W10 6QN.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. T he company has therefore taken advantage of e xemptions from the following disclosure requirements:

- Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures;

- Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues: Interest income/expense and net gains/losses for financial instruments not measured at fair value; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;

- Section 33 ‘Related Party Disclosures’: the company has taken advantage of the exemption under FRS 102 paragraph 33.1A and has therefore not disclosed transactions or balances with wholly owned members of the group, nor key management personnel compensation.

1.2
Going concern

The directors have reviewed forecasts and the performance of the company for the going concern assessment period, including EBITDA and net cash inflows, and consider the company to be a going concern.true

The company has also received assurance from VDMS Parent Holdings, LLC that it will continue to provide operational and financial support for a period of at least 12 months from the date of approval of these financial statements. The directors are confident of the intention and ability of the parent company to provide the support should this be required.

The directors do not consider there to be a material uncertainty relating to going concern that may cast significant doubt over the ability of the company to meet its obligations as they fall due. Therefore, the financial statements have been prepared on the going concern basis.

VISUAL DATA MEDIA SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 15 -
1.3
Revenue

Turnover from end to end content management and digital media supply chain solutions is recognised on an accruals basis in line with relevant agreements.

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised.

Sale of goods

Turnover from the sale of goods is recognised when all the following conditions are satisfied:

- the company has transferred the significant risks and rewards of ownership to the buyer;

- the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

- the amount of turnover can be measured reliably;

- it is probable that the company will receive the consideration due under the transaction; and

- the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

- the amount of turnover can be measured reliably;

- it is probable that the company will receive consideration due under the contract;

- the stage of completion of the contract at the end of the reporting period can be measured reliably; and

- the costs incurred and the costs to complete the contract can be measured reliably.

1.4
Research and development expenditure

Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

1.5
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is considered to be 10 years.

1.6
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and 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:

Software
20% straight line
Assets in progress
No amortisation until completion and in use
1.7
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

VISUAL DATA MEDIA SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 16 -

Depreciation 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:

Leasehold improvements
Over the lease term
Fixtures and fittings
20% straight line
Computers
20% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.8
Fixed asset investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

1.9
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.

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 profit or 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 its 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 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.

1.10
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

VISUAL DATA MEDIA SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 17 -

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.11
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.12
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.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

VISUAL DATA MEDIA SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 18 -
Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

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, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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.

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. A m ounts 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.

Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are s ubsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value th r ough profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.13
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.

1.14
Taxation

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

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

VISUAL DATA MEDIA SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 19 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.15
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

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

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.16
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the company in independently administered funds.

1.17
Leases
As lessee

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

VISUAL DATA MEDIA SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 20 -
1.18
Foreign exchange

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transactions and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are 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.

Key sources of estimation uncertainty

The estimates and assumptions which have a heightened risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Accrued income

The directors consider that the area where uncertainty of estimation arises is accrued income. The directors must use their judgement to assess the stage of completion of projects and as a result, the amount of income to recognise.

Goodwill impairment

Goodwill is subject to an annual review for indicators of impairment. Based on the evaluation of both external and internal indicators and financial performance, management has concluded that no indicators of impairment were identified as at 31 December 202 5. This assessment is supported by the continued strategic importance of the investments, stable management, and no concerns raised by the board.

VISUAL DATA MEDIA SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 21 -
3
Turnover

The whole of the turnover is attributable to the principal activity of the company.

2025
2024
£
£
Turnover analysed by geographical market
United Kingdom
9,471,697
9,377,632
Rest of Europe
2,808,923
2,251,618
Rest of World
1,513,744
1,027,917
13,794,364
12,657,167
4
Auditor's remuneration
2025
2024
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the company
25,515
24,300

The company has taken advantage of the exemption not to disclose amounts paid for non-audit services as these are disclosed in the consolidated accounts of the parent company.

5
Employees

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

2025
2024
Number
Number
Admin
52
43
Operational
82
83
Total
134
126

Their aggregate remuneration comprised:

2025
2024
£
£
Wages and salaries
5,621,490
5,479,611
Social security costs
673,483
633,306
Pension costs
191,297
210,188
6,486,270
6,323,105
VISUAL DATA MEDIA SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 22 -
6
Operating loss
2025
2024
Operating loss for the year is stated after charging/(crediting):
£
£
Exchange losses/(gains)
8,612
(24,393)
Research and development costs
67,689
-
Depreciation of owned tangible fixed assets
747,881
350,818
Loss on disposal of tangible fixed assets
40,562
-
Amortisation of intangible fixed assets
476,176
415,214
Loss on disposal of intangible fixed assets
72,711
-
Operating lease charges
488,001
489,515
7
Directors' remuneration
2025
2024
£
£
Remuneration for qualifying services
272,549
263,067
Company pension contributions to defined contribution schemes
-
12,700
272,549
275,767

The number of directors for whom retirement benefits are accruing under defined contribution schemes amounted to 1 (2024 - 1).

Remuneration disclosed above include the following amounts paid to the highest paid director:
2025
2024
£
£
Remuneration for qualifying services
272,549
263,067
Company pension contributions to defined contribution schemes
-
12,700
8
Interest payable and similar expenses
2025
2024
£
£
Interest on finance leases and hire purchase contracts
51,614
59,093
VISUAL DATA MEDIA SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 23 -
9
Taxation
2025
2024
£
£
Current tax
UK corporation tax for the current period
-
0
-
0

The actual charge for the year can be reconciled to the expected credit for the year based on the profit or loss and the standard rate of tax as follows:

2025
2024
£
£
Loss before taxation
(153,773)
(1,588,873)
Expected tax credit based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
(38,443)
(397,218)
Tax effect of expenses that are not deductible in determining taxable profit
161,099
72,664
Unutilised tax losses carried forward
(275,643)
338,865
Deferred tax adjustments in respect of prior years
-
0
(4,141)
Depreciation in excess of capital allowances
152,987
-
0
Movements on non-qualifying assets
-
0
(10,170)
Taxation charge for the year
-
-

The company has tax losses of £939,343 (2024: £2,233,671) to offset against future trading profits. A deferred tax asset of approximately £235,000 (2024: £560,000) has not been provided in respect of these losses due to the uncertainty over the timing of their recovery.

VISUAL DATA MEDIA SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 24 -
10
Intangible fixed assets
Goodwill
Software
Assets in progress
Total
£
£
£
£
Cost
At 1 January 2025
1,419,523
1,909,593
74,136
3,403,252
Additions
-
0
12,982
-
0
12,982
Disposals
-
0
(81,748)
(74,136)
(155,884)
At 31 December 2025
1,419,523
1,840,827
-
0
3,260,350
Amortisation and impairment
At 1 January 2025
910,951
1,255,637
-
0
2,166,588
Amortisation charged for the year
139,860
336,316
-
0
476,176
Disposals
-
0
(41,569)
-
0
(41,569)
At 31 December 2025
1,050,811
1,550,384
-
0
2,601,195
Carrying amount
At 31 December 2025
368,712
290,443
-
0
659,155
At 31 December 2024
508,572
653,956
74,136
1,236,664

Goodwill arose in the company from the acquisition of the trade and assets of VDMS Newco Limited and Soho Digital Media Services Ltd.

11
Tangible fixed assets
Leasehold improvements
Fixtures and fittings
Computers
Total
£
£
£
£
Cost
At 1 January 2025
1,593,280
30,128
2,942,604
4,566,012
Additions
3,250
-
0
28,965
32,215
Disposals
-
0
-
0
(58,908)
(58,908)
At 31 December 2025
1,596,530
30,128
2,912,661
4,539,319
Depreciation and impairment
At 1 January 2025
1,336,285
24,629
1,914,573
3,275,487
Depreciation charged in the year
42,307
4,996
700,578
747,881
Eliminated in respect of disposals
-
0
-
0
(58,524)
(58,524)
At 31 December 2025
1,378,592
29,625
2,556,627
3,964,844
Carrying amount
At 31 December 2025
217,938
503
356,034
574,475
At 31 December 2024
256,995
5,499
1,028,031
1,290,525
VISUAL DATA MEDIA SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
11
Tangible fixed assets
(Continued)
- 25 -

Finance leases

The net book value of assets held under finance leases at the reporting date totalled £330,525 (2024: £617,463).

12
Fixed asset investments
2025
2024
Notes
£
£
Investments in subsidiaries
13
847
847
13
Subsidiaries

Details of the company's subsidiaries at 31 December 2025 are as follows:

Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Indirect
VDMS France Holdco, SAS
36 Rue Scheffer, 75116, Paris, France
Ordinary
100.00
-
Holding V&A, SAS
70 Rue Jean Bleuzen, 92170, Vanves, France
Ordinary
0
100.00
EVA France ST'501, SAS
70 Rue Jean Bleuzen, 92170, Vanves, France
Ordinary
0
100.00
EVA Studios Germany GmbH
Franklinstarße 12, D, 10587, Berlin, Germany
Ordinary
0
100.00
Studio 7 Synchron und Untertitel GmbH
Leopoldstraße 5 (1. OG), 76133, Karlsruhe, Germany
Ordinary
0
100.00
Técnicas de Sonorización, S.A
Av. del lngeniero Conde de Torroja, 22, 28022, Madrid, Spain
Ordinary
0
100.00
Produções Audiovisuais, Lda
R. Padre Francisco 11 C, 1350-223 Lisboa, Portugal
Ordinary
0
100.00
14
Stocks
2025
2024
£
£
Raw materials and consumables
-
2,430

Stock recognised through cost of sales during the year was £2,430 (2024: £Nil).

15
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
1,903,393
1,509,800
Corporation tax recoverable
-
0
102,474
Amounts owed by group undertakings
5,896,370
4,955,021
Other debtors
51,451
49,156
Prepayments and accrued income
976,112
932,133
8,827,326
7,548,584
VISUAL DATA MEDIA SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
15
Debtors
(Continued)
- 26 -

Transactions with group companies are conducted at arms length with standard credit terms.

16
Creditors: amounts falling due within one year
2025
2024
Notes
£
£
Obligations under finance leases
18
162,059
270,550
Trade creditors
472,482
448,047
Amounts owed to group undertakings
1,096,789
625,234
Taxation and social security
393,135
391,203
Other creditors
202,589
158,187
Accruals and deferred income
809,335
761,355
3,136,389
2,654,576

Transactions with group companies are conducted at arms length with standard credit terms.

17
Creditors: amounts falling due after more than one year
2025
2024
Notes
£
£
Obligations under finance leases
18
397,359
529,716
18
Finance lease obligations
2025
2024
Future minimum lease payments due under finance leases:
£
£
Within one year
162,059
270,550
Within one to five years
397,359
529,716
559,418
800,266

Obligations under finance leases are secured on the assets to which they relate.

19
Deferred taxation

The company has recognised a deferred tax liability of £17,841 (2024: £17,841) in relation to accelerated capital allowances.

A deferred tax asset of approximately £235,000 (2024: £560,000) has not been recognised in respect of trading losses of £939,343 (2024: £2,233,671) due to the uncertainty over the timing of their recovery.

VISUAL DATA MEDIA SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 27 -
20
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
191,297
210,188

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

Outstanding pension commitments at the year end amounted to £46,462 (2024: £Nil) and are included within other creditors.

21
Share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
560
560
560
560
22
Capital redemption reserve

The capital redemption reserve was created during the company's purchase of its own shares.

23
Operating lease commitments

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

2025
2024
£
£
Within 1 year
350,000
350,000
Within 1-5 years
379,167
729,167
729,167
1,079,167
24
Events after the reporting date

No events materially affecting the assessment of these financial statements have occurred after the balance sheet date.

VISUAL DATA MEDIA SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 28 -
25
Related party transactions

The company has taken advantage of the exemptions available under FRS 102 regarding transactions with entities that are part of the group headed by VDMS Parent holdings LLC, on the grounds that all direct and indirect subsidiary undertakings which are party to such transactions are wholly owned members of the group.

During the year, a director paid expenses totaling £481,137 (2024: £634,254) on behalf of the company. As at 31 December 2025 £40,085 (2024: £38,587) was owed to the director.

During the year, the company incurred expenses totaling £466,400 (2024: £430,674) from entities that are under common control of the company. As at 31 December 2025 £272,037 (2024: £25,887) was owed by the company to these related entities.

26
Ultimate controlling party

The immediate parent undertaking of the company is The Future Media Group Limited, a company incorporated in England and Wales.

The ultimate parent undertaking of the company is Endeavour Capital Fund VII, LP, a limited partnership incorporated in the United States of America.

The smallest group of undertakings for which group accounts have been drawn up which include the company is headed by VDMS UK Holdings Limited. The registered office and principal place of business is 316-318 Latimer Road, London, W10 6QN.

The largest group for which consolidated financial statements are prepared of which the company is a member is headed by VDMS Parent Holdings LLC, a company incorporated in the United States of America. The registered office and principal place of business is 610 N. Hollywood Way, Burbank, CA 91505, USA. The financial statements of VDMS Parent Holdings LLC are not publicly available.

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