REGISTERED NUMBER: 14444767 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

EVP OPS 1 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:

86-90 Paul Street

London

EC2A 4NE

REGISTERED NUMBER:

14444767 (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

4

1,863,689

2,261,571

Tangible assets

5

3,099

3,984

1,866,788

2,265,555

CURRENT ASSETS

Debtors

6

1,000,296

793,980

Cash at bank

10,806

5,789

1,011,102

799,769

CREDITORS

Amounts falling due within one year

7

486,345

424,392

NET CURRENT ASSETS

524,757

375,377

TOTAL ASSETS LESS CURRENT LIABILITIES

2,391,545

2,640,932

CAPITAL AND RESERVES

Called up share capital

9

2,628,028

2,628,028

Retained earnings

(236,483

)

12,904

SHAREHOLDERS' FUNDS

2,391,545

2,640,932

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

Evp Ops 1 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, excluding discounts, rebates, value added tax and other sales taxes.

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 asset 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, copyrights & design rights

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.

INTANGIBLE ASSETS - CONTENT PRODUCTION

Costs incurred during the development and production of video content are capitalised as intangible assets. Content production is measured at cost less accumulative amortisation and any cumulative impairment losses. Video production costs incurred on content for children are recognised as an intangible asset and amortised over two years.

TANGIBLE FIXED ASSETS

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

Plant and machinery

-

20% on cost

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.

DEFERRED TAX

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

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

4.	INTANGIBLE FIXED ASSETS

Patent,

Customer

copyrights

databases

& design

and

Content

Goodwill

rights

trademarks

production

Totals

$

$

$

$

$

COST

At 1 January 2025

234,303

2,197,407

221,874

442,801

3,096,385

Additions

-

-

-

8,456

8,456

At 31 December 2025

234,303

2,197,407

221,874

451,257

3,104,841

AMORTISATION

At 1 January 2025

46,865

439,521

44,379

304,049

834,814

Amortisation for year

23,430

219,741

22,187

140,980

406,338

At 31 December 2025

70,295

659,262

66,566

445,029

1,241,152

NET BOOK VALUE

At 31 December 2025

164,008

1,538,145

155,308

6,228

1,863,689

At 31 December 2024

187,438

1,757,886

177,495

138,752

2,261,571

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

$

COST

At 1 January 2025

and 31 December 2025

4,427

DEPRECIATION

At 1 January 2025

443

Charge for year

885

At 31 December 2025

1,328

NET BOOK VALUE

At 31 December 2025

3,099

At 31 December 2024

3,984

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

$

$

Trade debtors

15,251

29,618

Amounts owed by group undertakings

811,279

659,378

Other debtors

173,766

104,984

1,000,296

793,980

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

$

$

Trade creditors

620

-

Amounts owed to group undertakings

469,974

410,464

Other creditors

15,751

13,928

486,345

424,392

8.	SECURED DEBTS

During the year, the group refinanced its secured borrowings. As part of this group-wide refinancing, the company’s previous secured financing arrangement was settled and replaced with a new secured financing arrangement entered into in September 2025.

The company is a party to the group security arrangements. The new borrowings are secured by fixed and floating charges over the assets of the company and certain other group companies, including a floating charge over all the property or undertaking of the company, and contain customary restrictions including a negative pledge.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

$

$

2,171,817

Ordinary

1.210058

2,628,028

2,628,028

Financial information translated to USD @1.210059 the closing rate on 31 December 2022.

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.

10.	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

11.	ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of Electrify Video Partners Ops 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.