ACCOUNTS - Final Accounts preparation

Registered number: 15835780

THE LIFT ENTERTAINMENT LIMITED

DIRECTOR'S REPORT AND FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2025

THE LIFT ENTERTAINMENT LIMITED

COMPANY INFORMATION

Director	A A Rodriguez (appointed 12 July 2024)


Registered number	15835780


Registered office	86-90 3rd Floor
	Paul Street
	London
	EC2A 4NE


Independent auditors	Wisteria Audit Ltd
	Chartered Accountants & Statutory Auditors
	Pikes End
	Pinner
	Middlesex
	HA5 2EX

THE LIFT ENTERTAINMENT LIMITED

CONTENTS

	Page
Director's Report	1 - 2
Independent Auditors' Report	3 - 6
Statement of Comprehensive Income	7
Balance Sheet	8
Statement of Changes in Equity	9
Notes to the Financial Statements	10 - 16

THE LIFT ENTERTAINMENT LIMITED

DIRECTOR'S REPORT

FOR THE PERIOD ENDED 31 DECEMBER 2025

The director presents his report and the financial statements for the period ended 31 December 2025.

Principal activity

The principal activity of the Company is the promotion of scripted and unscripted film productions.

Director

The director who served during the period was:

A A Rodriguez (appointed 12 July 2024)

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 judgements 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.

Disclosure of information to auditors

The director at the time when this Director's Report is approved has confirmed that:

∙so far as is aware, there is no relevant audit information of which the Company's auditors are unaware, and

∙has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information.

Post balance sheet events

Subsequent to the period end, the Company entered into an agreement to provide finance for a co-production motion picture. Further details of this non-adjusting post balance sheet event are set out in Note 14 to the financial statements.

Page 1

THE LIFT ENTERTAINMENT LIMITED

DIRECTOR'S REPORT (CONTINUED)

FOR THE PERIOD ENDED 31 DECEMBER 2025

Going concern

The director has prepared the financial statements on the going concern basis, having obtained a signed letter of financial support from the parent company for a period of at least 12 months from the date of signing these financial statements. The director has also assessed the financial ability of the parent company to be able to provide financial support for a period of at least 12 months from the date of signing these financial statements.
On the basis of the above, the director considers that it is appropriate to prepare the financial statements on a going concern basis.

Auditors

The auditors, Wisteria Audit Ltd, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

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 17 July 2026 and signed on its behalf.

A A Rodriguez

Director

Page 2

THE LIFT ENTERTAINMENT LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE LIFT ENTERTAINMENT LIMITED

Opinion

We have audited the financial statements of The Lift Entertainment Limited (the 'Company') for the period ended 31 December 2025, which comprise the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes, including a summary of 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 period 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 Auditors' 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 United Kingdom, including the Financial Reporting Council'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 director's 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 director with respect to going concern are described in the relevant sections of this report.

Page 3

THE LIFT ENTERTAINMENT LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE LIFT ENTERTAINMENT LIMITED (CONTINUED)

Other information

The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The director is 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.

Opinion on other matters prescribed by the Companies Act 2006

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

∙the information given in the Director's Report for the financial period for which the financial statements are prepared is consistent with the financial statements; and

∙the Director's Report has been prepared in accordance with applicable legal requirements.

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 identified material misstatements in the Director's Report.

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 director's remuneration specified by law are not made; or

∙we have not received all the information and explanations we require for our audit; or

∙the director was not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Director's Report and from the requirement to prepare a Strategic Report.

Page 4

THE LIFT ENTERTAINMENT LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE LIFT ENTERTAINMENT LIMITED (CONTINUED)

Responsibilities of directors

As explained more fully in the Director's Responsibilities Statement set out on page 1, the director is 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 director determines 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 director is 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 director either intends to liquidate the Company or to cease operations, or have no realistic alternative but to do so.

Auditors' 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.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below:

∙We obtained an understanding of the legal and regulatory frameworks applicable to the Company, and sector in which they operate. In addition, we concluded that there are certain significant laws and regulations that may have an effect on the determination of the amounts and disclosures in the financial statements such as: Financial Reporting Standard 102 Section 1A applicable in the UK and Republic of Ireland ('United Kingdom Generally Accepted Accounting Practice') Companies Act 2006 and taxations laws.

∙We understood how the Company are complying with those legal and regulatory frameworks through discussions with management and those charged with governance.

∙We assessed the susceptibility of the Company's financial statements to material misstatement, including how fraud might occur. Audit procedures performed by the engagement team included:

−identifying and assessing the design effectiveness of controls management has in place to prevent and detect fraud;

−understanding how those charged with governance considered and addressed the potential for override of controls or other inappropriate influence over the financial reporting process;

−challenging assumptions and judgements made by management in its significant accounting estimates;

−identifying and testing journal entries, in particular any journal entries posted with unusual account combinations; and

−assessing the extent of compliance with the relevant laws and regulations as part of our procedures on the related financial statement item.

Our procedures to obtain sufficient appropriate audit evidence in response to the assessment risks of material misstatement due to fraud included:

∙Reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with relevant laws and regulations;

∙Performing a detailed review of the Company's year-end adjustments entries;

∙Enquiries being made of management with regard to actual and potential litigation and claims;

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THE LIFT ENTERTAINMENT LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE LIFT ENTERTAINMENT LIMITED (CONTINUED)

∙Obtaining and reviewing minutes of Board minutes, evidence of legal fees incurred, and any correspondence with HMRC, for indicators of possible fraud and non-compliance;

∙Carrying out substantive testing testing of journal entries to assess whether they are appropriate, and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business;

∙Performing a detailed review of key accounting estimates, and assessing whether the judgements made in arriving at the accounting estimates and indicative of potential bias; and

∙We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indicators of fraud or non-compliance with laws and regulations throughout the audit.

These audit procedures were designed to provide reasonable assurance that the financial statements were free from fraud or error. The risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error and detecting irregularities that result from fraud is inherently more difficult tan detecting those that result from error, as fraud may involve collusion, deliberate concealment, forgery or intentional misrepresentations.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' 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 Auditors' 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.

Barry Au FCA (Senior Statutory Auditor)

for and on behalf of

Wisteria Audit Ltd

Chartered Accountants

Statutory Auditors

Pikes End

Pinner

Middlesex

HA5 2EX

17 July 2026

Page 6

THE LIFT ENTERTAINMENT LIMITED

STATEMENT OF COMPREHENSIVE INCOME

FOR THE PERIOD ENDED 31 DECEMBER 2025

	2025
Note	$


Turnover		-
Cost of sales		-
Gross profit		-
Administrative expenses		(598,486)
Operating loss		(598,486)
Interest payable and similar expenses		(10,711)
Loss before tax		(609,197)
Tax on loss		-
Loss for the financial period		(609,197)

There was no other comprehensive income for 2025.

The notes on pages 10 to 16 form part of these financial statements.

Page 7

THE LIFT ENTERTAINMENT LIMITED

REGISTERED NUMBER: 15835780

BALANCE SHEET

AS AT 31 DECEMBER 2025

		2025
Note		$

Fixed assets
Investments	6		1,160,071
			1,160,071
Current assets
Debtors: amounts falling due within one year	7	1,792
Cash at bank and in hand	8	9,779
		11,571
Creditors: amounts falling due within one year	9	(770,115)
Net current liabilities			(758,544)
Total assets less current liabilities			401,527
Creditors: amounts falling due after more than one year	10		(1,010,711)

Net liabilities			(609,184)

Capital and reserves
Called up share capital	11	13
Profit and loss account	12	(609,197)
		(609,184)

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 17 July 2026.

A A Rodriguez

Director

The notes on pages 10 to 16 form part of these financial statements.

Page 8

THE LIFT ENTERTAINMENT LIMITED

STATEMENT OF CHANGES IN EQUITY

FOR THE PERIOD ENDED 31 DECEMBER 2025

	Called up share capital	Profit and loss account	Total equity
	$	$	$
At 12 July 2024	-	-	-

Loss for the period	-	(609,197)	(609,197)
Shares issued during the period	13	-	13
At 31 December 2025	13	(609,197)	(609,184)

The notes on pages 10 to 16 form part of these financial statements.

Page 9

THE LIFT ENTERTAINMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2025

1.	General information

The Lift Entertainment Limited is a private company limited by shares incorporated on 12 July 2024 in England and Wales. The registered office is 86-90 3rd Floor, Paul Street, London, EC2A 4NE.

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 financial statements are prepared in United States Dollars, as this is the functional and presentational currency of the Company. Monetary amounts in these financial statements are rounded to the nearest dollar.
The financial statements cover the long period from incorporation on 12 July 2024 to 31 December 2025. The accounting reference period was extended to align the company's financial year end with the reporting timeline of the group. As this is the first financial period for the company, no comparative information is presented.

The following principal accounting policies have been applied:

2.2

Going concern

The director has prepared the financial statements on the going concern basis, having obtained a signed letter of financial support from the parent company for a period of at least 12 months from the date of signing these financial statements. The director has also assessed the financial ability of the parent company to be able to provide financial support for a period of at least 12 months from the date of signing these financial statements.

On the basis of the above, the director considers that it is appropriate to prepare the financial statements on a going concern basis.

2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.4

Valuation of 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 balance sheet 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.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

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THE LIFT ENTERTAINMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.8

Financial instruments

Non-basic financial instruments are initially recognised at fair value on the date the contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value are recognised in profit or loss.
Other debt instruments not meeting conditions of being 'basic' financial instruments are measured at fair value through profit or loss.
The Company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments.
Other financial assets, including investments in equity instruments which are not subsidiaries, 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.

2.9

Taxation

Current 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 balance sheet date in the countries where the Company operates and generates income.

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THE LIFT ENTERTAINMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.10

Foreign currency translation

Transactions in currencies other than United States Dollars 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 are included in the profit and loss account for the period.

3.	Judgements in applying accounting policies and key sources of estimation uncertainty

The preparation of financial statements in conformity with Generally Accepted Accounting Practice (GAAP) requires management to make estimates and judgements that affect the reported amounts of assets and liabilities as well the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period.
Critical judgements
There were no judgements required to be made in preparing the accounts which had, or could have had, a material impact on the accounts.
Critical estimates
There were no estimates required to be made in preparing the accounts, which had, or could have had, a material impact on the accounts.

Employees

The average monthly number of employees, including directors, during the period was 1.

5.	Taxation

		2025
		$



	Total current tax	-

	Deferred tax
	Total deferred tax	-


	Tax on loss	-

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THE LIFT ENTERTAINMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2025

5.Taxation (continued)

	Factors affecting tax charge for the period
	The tax assessed for the period is higher than the standard rate of corporation tax in the UK of25%. The differences are explained below:
					2025
					$

Loss on ordinary activities before tax

(609,197)

	Loss on ordinary activities multiplied by standard rate of corporation tax in the UK of 25%	(152,299)
	Effects of:
	Non-trade loan relationships debits	2,678
	Unutilised tax losses carried forward	149,621
	Total tax charge for the period	-

Factors that may affect future tax charges

There were no factors that may affect future tax charges.

6.	Fixed asset investments

		Other fixed asset investments
		$
	Cost or valuation
	Additions	1,160,071
	At 31 December 2025	1,160,071

Fixed asset investments relate to a 4% equity investment in Miercoles Entertainment Studios LLC acquired on 1 October 2025 for a total consideration of $1,000,000. Transaction costs directly attributable to the acquisition amounted to $160,071 and have been recognised within the cost of the investment in accordance with the Company's accounting policy. The investment had a carrying value of $1,160,071 at 31 December 2025.

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THE LIFT ENTERTAINMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2025

Debtors

					2025
					$


	Amounts owed by group undertakings	1,200
	Other debtors	592
		1,792

Amounts owed by group undertakings are unsecured, interest-free and repayable on demand.

8.	Cash and cash equivalents
		2025
		$

	Cash at bank and in hand	9,779
		9,779

9.	Creditors: Amounts falling due within one year
		2025
		$

	Trade creditors	153
	Amounts owed to group undertakings	604,004
	Amounts owed to related parties	143,683
	Accruals and deferred income	22,275
		770,115

Amounts owed to group undertakings and related parties are unsecured, interest-free and repayable on demand.

Page 14

THE LIFT ENTERTAINMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2025

10.	Creditors: Amounts falling due after more than one year
		2025
		$

	Amounts owed to group undertakings	510,711
	Amounts owed to related parties	500,000
		1,010,711

Amounts owed to group undertakings relate to a loan with principal of $500,000, accruing interest at a rate of 8.5% per annum, with total interest of $10,711 recognised in the period, and is repayable on 9 October 2028.
Amounts owed to related parties relate to a loan with principal $500,000 that is interest-free and is repayable on 28 February 2030.

11.	Share capital
		2025
		$

		Allotted, called up and fully paid

		1,000 Ordinary shares of £0.01 ($0.01) each	13

During the period 1,000 ordinary shares having a nominal value of £0.01 ($0.01) were allotted for an aggregate consideration of $13.

12.

Reserves

Profit and loss account

The profit and loss account comprises all current period retained earnings.

13.

Related party transactions

The Company has claimed exemption under FRS 102 Section 33.1A from disclosing transactions with group entities.
N19W99 Limited
In the period, the Company incurred $264,870 of expenses paid on its behalf by N19W99 Limited (a company under the common control of the director). These largely consisted of legal fees related to the investment in Miercoles Entertainment Studios LLC and the payroll and expenses of the Company executive team. As at 31 December 2025, the amount owing to N19W99 Limited in respect of recharges was $143,683.
N19W99 Limited also advanced $500,000 to the Company pursuant to an interest-free loan agreement repayable on 28 February 2030. As at 31 December 2025, the loan balance was $500,000.

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THE LIFT ENTERTAINMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2025

14.	Post balance sheet events

The Company entered into an agreement with Sense Productions Ltd and Yo Brate Films Inc on 4 March 2026 to provide finance for a co-production picture. The total amount committed under the agreement, including subsequent amendments dated 5 March 2026 and 21 April 2026, is $82,500.

15.	Controlling party

The Lift Entertainment Limited is a fully owned subsidiary of The Lift Holdco Limited, a private company limited by share capital, incorporated in the United Kingdom, Company number 15923995.
The address of the registered office of The Lift Holdco Limited is 86-90 3rd Floor, Paul Street, London, EC2A 4NE.
The ultimate controlling party of The Lift Entertainment Limited is A A Rodriguez, by virtue of his indirect majority shareholding in the parent company.

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