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Registered number: 16193638 THE LIGHTHOUSE (PIERRE) LIMITED UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 APRIL 2026
THE LIGHTHOUSE (PIERRE) LIMITED COMPANY INFORMATION
Directors | N D Betts
| A R Neville
Registered number | 16193638
Registered office | 3rd Floor, Waverley House
| 7-12 Noel Street
| London
| W1F 8GQ
Accountants | Ecovis Wingrave Yeats UK Limited
| Chartered Accountants
| 3rd Floor, Waverley House
| 7-12 Noel Street
| London
| W1F 8GQ
THE LIGHTHOUSE (PIERRE) LIMITED CONTENTS
| Page
Balance Sheet | 1 - 2
Notes to the Financial Statements | 3 - 8
THE LIGHTHOUSE (PIERRE) LIMITED REGISTERED NUMBER: 16193638 BALANCE SHEET AS AT 30 APRIL 2026
|  | 30 April |  | 31 May
|  | 2026 |  | 2025
Note |  | £ |  | £
Current assets |  |  |  |  |
Debtors due within 1 year |  | 1,443,497 |  | 1,976,199 |
Bank and cash balances |  | 293,352 |  | 521,753 |
|  | 1,736,849 |  | 2,497,952 |
Creditors: amounts falling due within one year | 7 | (1,789,939) |  | (897,852) |
Net current (liabilities)/assets |  |  | (53,090) |  | 1,600,100
Total assets less current liabilities |  |  | (53,090) |  | 1,600,100
Creditors: amounts falling due after more than one year | 8 |  | - |  | (1,600,000)
Net (liabilities)/assets |  |  | (53,090) |  | 100
Capital and reserves |  |  |  |  |
Called up share capital | 10 |  | 100 |  | 100
Profit and loss account |  |  | (53,190) |  | -
|  |  | (53,090) |  | 100
Page 1
THE LIGHTHOUSE (PIERRE) LIMITED REGISTERED NUMBER: 16193638 BALANCE SHEET (CONTINUED) AS AT 30 APRIL 2026 The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf on 18 July 2026.
N D Betts
Director
The notes on pages 3 to 8 form part of these financial statements. Page 2
THE LIGHTHOUSE (PIERRE) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 APRIL 2026
1. | General information
The Lighthouse (Pierre) Limited is a private company, limited by shares, incorporated in England & Wales, registration number 16193638. The Company's registered office is 3rd Floor, Waverley House, 7-12 Noel Street, London, United Kingdom, W1F 8GQ. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. The following principal accounting policies have been applied:
| 2.2 | Going concern
The nature of the Company’s principal activity means that there is significant expenditure during active television production phases and substantially lower costs outside of these periods. The Company’s robust financial planning and funding arrangements ensure operational continuity and financial stability throughout. Therefore, the fluctuating costs associated with our production cycles do not pose a threat to our status as a going concern. As a result, the directors believe that it remains appropriate to continue to adopt the going concern basis in preparing these financial statements.
| 2.3 | Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue 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 revenue is recognised: Revenue in profit or loss relates to amounts earned in relation to the production of a television programme. Production funding is recognised in profit or loss based on the stage of completion. Revenue in relation to overspends is recognised as it arises in accordance with the stage of completion of the production. Included within revenue is the gross amount of the Audio Visual Expenditure Claim and is recognised in the period in which the claim is made
| 2.4 | Borrowing costs
All borrowing costs are recognised in profit or loss in the period in which they are incurred. Page 3
THE LIGHTHOUSE (PIERRE) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 APRIL 2026 2.Accounting policies (continued)
| 2.5 | Current and deferred taxation
The tax expense for the period comprises current and deferred taxation. 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. Tax credit income is based on qualifying UK production expenditure and as such is recognised in the period in which the claim is made. The current income tax charge relates to the Audio Visual Expenditure Credit (AVEC) and is recognised in the period in which the claim is being made in line with the revenue recognition accounting policy.
| 2.6 | 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.
| 2.7 | 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.
| 2.8 | 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.
| 2.9 | Financial instruments
Basic financial assets Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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. Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments. Financial liabilities Financial liabilities and equity instruments are classified according to the substance of the contractual Page 4
THE LIGHTHOUSE (PIERRE) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 APRIL 2026 2.Accounting policies (continued)
| 2.9 | Financial instruments (continued)
arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities. Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial. Debt instruments are subsequently carried at their amortised cost using the effective interest rate method. Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
3. | Judgments in applying accounting policies and key sources of estimation uncertainty
Revenue Recognition Production revenues and expenses are recognised by reference to the stage of completion of the contract activity where the outcome of the contract can be estimated reliably, otherwise revenue is recognised only to the extent of recoverable contract costs incurred. Audio Visual Expenditure Credit The Audio-Visual Expenditure Credit (AVEC) included in the financial statements is an estimate based on the assessment of the value of qualifying expenditure in accordance with HMRC legislation and guidance and those expenditures eligible for the tax relief. The figures included in these financial statements represent the final expenditure credit claim. The tax recoverable has been recognised within debtors due within one year, being the net effect of the AVEC and the notional tax charge arising on the tax credit.
4. | Employees
| The average monthly number of employees, including directors, during the period was 50 (2025 - 75).
5. | Taxation
The Company has a project that qualifies for an Audio Visual Expenditure Credit. At the year end there is a net tax recoverable amount of £1,419,397 (2025 - £533,458) included within note 6 relating to the estimated value of the tax credit in respect of the claim for this accounting period. At the time of signing these financial statements, there were no trading losses carried forward to be offset against future profits or available for group relief. Page 5
THE LIGHTHOUSE (PIERRE) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 APRIL 2026
6. | Debtors
|  |  |  |  | 30 April | 31 May
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
| Trade debtors | 24,000 | -
| Other debtors | - | 127,038
| Called up share capital not paid | 100 | 100
| Prepayments and accrued income | - | 1,315,603
| Tax recoverable | 1,419,397 | 533,458
|  | 1,443,497 | 1,976,199
7. | Creditors: Amounts falling due within one year
|  |  |  |  | 30 April | 31 May
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
| Bank loans | 1,322,576 | -
| Trade creditors | 9,477 | 360,782
| Amounts owed to group undertakings | 78,000 | 78,000
| Other taxation and social security | 307,148 | -
| Other creditors | 113 | 50,989
| Accruals and deferred income | 72,625 | 408,081
|  | 1,789,939 | 897,852
| For details of the bank loan, please see note 9. Amounts owed to group undertakings are unsecured, interest free and repayable on demand.
8. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 30 April | 31 May
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
| Bank loans | - | 1,600,000
|  | - | 1,600,000
| For details of the bank loan, please see note 9.
Page 6
THE LIGHTHOUSE (PIERRE) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 APRIL 2026
9. | Loans
| Analysis of the maturity of loans is given below:
|  |  |  |  | 30 April | 31 May
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
| Amounts falling due within one year |  |
| Bank loans | 1,322,576 | -
|  | 1,322,576 | -
| Amounts falling due 1-2 years |  |
| Bank loans | - | 1,600,000
|  | - | 1,600,000
| During 2025, the Company entered into a loan agreement with Coutts & Company (“the Bank”) relating to the television series entitled “Pierre”. The total loan facility available is £8,476,829, of which an amount £1,322,576 is outstanding for repayment at the balance sheet date (2025 - £1,600,000). Interest is charged at a rate of 1.75% over Base and the loan is repayable in full on or before 31 October 2026. The Bank has a first fixed charge over the series “Pierre” and a first floating charge over all other assets, in accordance with the underlying loan agreement.
10. | Share capital
|  |  |  |  | 30 April | 31 May
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
|  | Allotted, called up and unpaid |  |
|  | 100 (2025 - 100) Ordinary shares of £1.00 each | 100 | 100
| On incorporation, 100 £1 Ordinary shares with a nominal value of £1 were issued at par. These shares have attached to them full voting, dividend and capital distribution rights.
11. | Pension commitments
The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £9,261 (2025 - £1,174). Contributions totalling £113 (2025 - £Nil) were payable to the fund at the balance sheet date and are included in creditors. Page 7
THE LIGHTHOUSE (PIERRE) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 APRIL 2026
12. | Related party transactions
| The Lighthouse (Pierre) Limited has taken the exemption under FRS 102, section 33 Related Party Disclosures paragraph 33.1A, whereby the company is not required to disclose transactions with other wholly owned subsidiaries.
Page 8