REGISTERED NUMBER: 13775864 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

ELECTRIFY VIDEO PARTNERS OPS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

O J C Maher

J C Reizes

I A K Shepherd

REGISTERED OFFICE:

3rd Floor, 86-90 Paul Street

London

EC2A 4NE

REGISTERED NUMBER:

13775864 (England and Wales)

AUDITORS:

Ad Valorem Audit Services Limited

Chartered Certified Accountants

2 Manor Farm Court

Old Wolverton Road

Old Wolverton

Milton Keynes

Buckinghamshire

MK12 5NN

FIXED ASSETS

Intangible assets

5

12,495,337

16,613,676

Tangible assets

6

35,491

27,969

Investments

7

18,411,881

15,808,481

30,942,709

32,450,126

CURRENT ASSETS

Debtors

8

33,570,529

20,165,241

Cash at bank

4,745,530

2,311,945

38,316,059

22,477,186

CREDITORS

Amounts falling due within one year

9

28,857,700

22,721,675

NET CURRENT ASSETS/(LIABILITIES)

9,458,359

(244,489

)

TOTAL ASSETS LESS CURRENT LIABILITIES

40,401,068

32,205,637

CREDITORS

Amounts falling due after more than one year

10

36,880,120

22,672,429

NET ASSETS

3,520,948

9,533,208

CAPITAL AND RESERVES

Called up share capital

13

6,800,232

6,800,232

Retained earnings

(3,279,284

)

2,732,976

SHAREHOLDERS' FUNDS

3,520,948

9,533,208

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 July 2026 and were signed on its behalf by:

O J C Maher - Director

1.	STATUTORY INFORMATION

Electrify Video Partners Ops Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the US Dollar ($).

2.	ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

RELATED PARTY EXEMPTION

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

TURNOVER

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned predominantly from youtube channels.

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

GOODWILL

Goodwill represents the excess of the cost of acquisition of channels 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 ten years.

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each assets in the unit.

OTHER INTANGIBLE ASSETS

Other intangible assets represent the cost of acquiring channels. Intangible assets, including patents, copyrights, design rights, customer databases and trademarks, are initially recognised at cost and subsequently measured at cost less accumulated amortisation and impairment. They are considered to have a finite useful life and are amortised on a straight-line basis over their expected useful life of ten years.

Patents / Patent Applications

Patents relate to the proprietary technology, including aspects of content production tools developed by or for the channels that provide a competitive advantage or enhance content delivery.

Copyrights

Copyrights provide protection for original works of authorship, including literary, musical, and audiovisual creations. Copyright encompasses all video content, scripts, voiceovers, animations, sound effects, music, and other creative works produced by the channels.

Design Rights

Design rights protect the visual appearance of a product or creation, including shape, configuration, pattern, or ornamentation. Design rights include the visual style of animations, characters, graphics, thumbnails, set layouts, and user interface elements.

Customer Databases

Customer databases consist of structured collections of data relating to subscribers, viewers, or other audiences that have commercial value. These databases are valuable IP assets as they support targeted marketing, sponsorships, content development strategies.

Brand/Trademarks

Brands and trademarks comprise distinctive names, logos, slogans, and visual identifiers that differentiate the channels in the market. These include channel, on-screen branding elements.

TANGIBLE FIXED ASSETS

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment

-

33% on cost

INVESTMENTS IN SUBSIDIARIES

Investments in subsidiaries are accounted for at cost less, where appropriate, provisions for impairment Investments are reviewed at each financial year end for any indication of impairment. If such indication exists, that is, the recoverable amount is lower than the carrying amount, then the carrying amount is reduced to the recoverable amount. Any impairment loss will be charged to the Profit and Loss account.

Investments are derecognised upon sale of shares in the subsidiary or dissolution of the subsidiary.

TAXATION

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

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

FOREIGN CURRENCY TRANSLATION

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

HIRE PURCHASE AND LEASING COMMITMENTS

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

PENSIONS

Contributions to defined contribution plans are expensed in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

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

4.	AUDITORS' REMUNERATION

2025

2024

$

$

Fees payable to the company's auditors for the audit of the company's financial statements

18,418

15,344

5.	INTANGIBLE FIXED ASSETS

Customer

databases

Patents and

and

Goodwill

licences

trademarks

Totals

$

$

$

$

COST

At 1 January 2025

7,876,549

8,996,652

1,256,323

18,129,524

Impairments

(873,140

)

(1,902,541

)

(125,200

)

(2,900,881

)

At 31 December 2025

7,003,409

7,094,111

1,131,123

15,228,643

AMORTISATION

At 1 January 2025

641,963

767,052

106,833

1,515,848

Amortisation for year

713,045

899,665

125,632

1,738,342

Impairments

(142,543

)

(363,924

)

(14,417

)

(520,884

)

At 31 December 2025

1,212,465

1,302,793

218,048

2,733,306

NET BOOK VALUE

At 31 December 2025

5,790,944

5,791,318

913,075

12,495,337

At 31 December 2024

7,234,586

8,229,600

1,149,490

16,613,676

6.	TANGIBLE FIXED ASSETS

Computer

equipment

$

COST

At 1 January 2025

33,479

Additions

22,486

At 31 December 2025

55,965

DEPRECIATION

At 1 January 2025

5,510

Charge for year

14,964

At 31 December 2025

20,474

NET BOOK VALUE

At 31 December 2025

35,491

At 31 December 2024

27,969

7.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

$

COST

At 1 January 2025

15,808,481

Additions

2,603,400

At 31 December 2025

18,411,881

NET BOOK VALUE

At 31 December 2025

18,411,881

At 31 December 2024

15,808,481

The company holds 100% of the equity share capital in EVP OPS1 Limited, whose registered office address is the same as the parent company.

The company holds 100% of the equity share capital in A&E Enterprises B.V. a company with limited liability, incorporated under Dutch law. A&E Enterprises B.V. holds all the issued share capital of Warenhaus B.V. a private company with limited liability incorporated under Dutch law

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

$

$

Trade debtors

793,062

536,698

Amounts owed by group undertakings

28,887,842

18,962,927

Other debtors

3,889,625

665,616

33,570,529

20,165,241

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

$

$

Trade creditors

46,056

240,319

Amounts owed to group undertakings

17,800,406

10,201,576

Taxation and social security

-

38,223

Other creditors

11,011,238

12,241,557

28,857,700

22,721,675

10.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

$

$

Other creditors

36,880,120

22,672,429

11.

LOANS

An analysis of the maturity of loans is given below:

2025

2024

$

$

Amounts falling due within one year or on demand:

Other loans due within 1yr

4,236,672

5,944,558

Amounts falling due between two and five years:

Other loans - 2-5 years

36,880,120

22,672,429

During the year, the Company entered into a new financing arrangement with GLAS Trust Corporation Limited on 22 September 2025. The facility is to finance it's operations.

12.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

$

$

Other loans

41,107,042

28,616,987

The Company’s borrowings are secured by a fixed and floating charge in favour of GLAS Trust Corporation Limited, registered on 24 September 2025. Previous charges held by Mep Capital Holdings III, L.P. were satisfied and released during the year.

13.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

$

$

476,695,181

Ordinary

0.0142

6,800,232

6,800,232

Ordinary shares of 475,000,000 @ $0.01

Ordinary shares of 1,695,181 @ $1.209447

on 1 January 2023, the company converted 1,695,1818 Ordinary shares issued in GBP to USD at an exchange rate of £1GBP = USD 1.209447, resulting in a total value of $2,050,232.

The shares have attached to them full voting rights, dividend and capital redemption (including on winding up) rights.They do not confer any rights of redemption. Increase in the issued share capital is due to changes in functional currency.

14.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Zubair Arshad FCCA ACA (Senior Statutory Auditor)

for and on behalf of Ad Valorem Audit Services Limited

15.	CONTINGENT LIABILITIES

Under the terms of purchase of channels certain additional payments may be payable due to earn-out provisions in the contracts. This amount is payable in instalments over the agreed period subject to certain conditions and performance targets. The deferred consideration has been recognised at its present value in accordance with FRS 102. The liability is included within current liabilities in the Statement of Financial Position.

16.	CONTROLLING PARTY

The company is a wholly owned subsidiary of Electrify Video Partners Operations 1 Limited. The ultimate parent company is Electrify Video Partners Limited. Both companies are registered in England and Wales. There is no party in overall control of the company.