Popcorn Outdoor Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

Popcorn Outdoor Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07271697 . The registered office is 1st Floor 97 Charlotte Street, London, W1T 4QA.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

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

2.2. Going Concern Disclosure

The company has net current liabilities at the balance sheet date. However, it has remained profitable throughout the period and continues to receive financial support from its directors, who have confirmed their intention to provide funding as required for the foreseeable future. Having reviewed the company's cash flow forecasts and expected trading performance, the directors are satisfied that the company will have sufficient funds to meet its liabilities as they fall due for a period of at least 12 months from the date of approval of these financial statements. Accordingly, the financial statements have been prepared on a going concern basis.

2.3. 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 from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Rendering of services

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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.4. Intangible Fixed Assets and Amortisation - Other Intangible

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of five years

2.5. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	Straight line over 4 years
Computer Equipment	Straight line over 4 years

2.6. Leasing and Hire Purchase Contracts

Assets acquired under hire purchase contracts are included in tangible fixed assets are depreciated over their estimated useful lives. The obligations net of future charges are included in creditors.

Lease payments are apportioned between finance charges and reduction of the lease obligation using the effective rate of interest method. So as to achieve a constant rate of interest on the remaining balance of the liabilities. Finance charges are deducted and charged to the profit and loss when they are incurred.

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Popcorn Outdoor Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

2.7. 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 consitutes a financing transaction, where the transaction is measured at the present value if the

future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not

amortised.

Classification of financial instruments

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 constitute and financing

transaction, where the debt instrument is measured at the present value of future payments 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 creditor are obligations to pay for goods or services that have been acquired in the ordinary course of business

from suppliers. Amounts 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 at amortised cost using the effective interest method.

2.8. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2.9. Taxation

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

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

...CONTINUED

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Popcorn Outdoor Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

2.9. Taxation - continued

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

2.10. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 8 (2024: 8)

4. Intangible Assets

	Other
	£
Cost
As at 1 January 2025	96,923

As at 31 December 2025	96,923

Amortisation
As at 1 January 2025	96,431
Provided during the period	185

As at 31 December 2025	96,616

Net Book Value
As at 31 December 2025	307

As at 1 January 2025	492

5. Tangible Assets

	Plant & Machinery	Computer Equipment	Total
	£	£	£
Cost
As at 1 January 2025	622,367	28,595	650,962
Additions	33,076	1,047	34,123

As at 31 December 2025	655,443	29,642	685,085

Depreciation
As at 1 January 2025	557,477	23,614	581,091
Provided during the period	34,478	3,173	37,651

As at 31 December 2025	591,955	26,787	618,742

Net Book Value
As at 31 December 2025	63,488	2,855	66,343

As at 1 January 2025	64,890	4,981	69,871

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Popcorn Outdoor Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

6. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	224,319	199,551
Other debtors	28,351	46,041

	252,670	245,592

7. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	74,366	125,611
Bank loans and overdrafts	20,862	10,233
Other creditors	811,764	691,252
Taxation and social security	142,382	98,401

	1,049,374	925,497

8. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Bank loans	-	74,263

9. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	151,500	151,500

10. Related Party Transactions

At the balance sheet date, the amount due from the company to the director Mr Gordon Moore is £395,269 (2024: £355,490). The loan accrues interest at 15% per annum and is repayable on demand.

11. Ultimate Controlling Party

The company's ultimate controlling party is Mr Gordon Moore by virtue of his shareholding.

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		307		492
Tangible Assets	5		66,343		69,871

			66,650		70,363
CURRENT ASSETS
Debtors	6	252,670		245,592
Cash at bank and in hand		104,464		-

		357,134		245,592
Creditors: Amounts Falling Due Within One Year	7	(1,049,374 )		(925,497 )

NET CURRENT ASSETS (LIABILITIES)			(692,240 )		(679,905 )

TOTAL ASSETS LESS CURRENT LIABILITIES			(625,590 )		(609,542 )

Creditors: Amounts Falling Due After More Than One Year	8		-		(74,263 )

NET LIABILITIES			(625,590 )		(683,805 )

CAPITAL AND RESERVES
Called up share capital	9		151,500		151,500
Share premium account			165,500		165,500
Profit and Loss Account			(942,590 )		(1,000,805 )

SHAREHOLDERS' FUNDS			(625,590)		(683,805)