Vicarious Productions Limited

	Page
Balance Sheet	1
Notes to the Financial Statements	2—4

1. General Information

Vicarious Productions Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03702224 . The registered office is Hope House Hope House, Edvin Loach, Bromyard, Herefordshire, HR7 4PW.

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 directors believe that notwithstanding net current liabilities of £8,906 and net liabilities of £3,547, the company’s financial statements should be prepared on a going concern basis on the grounds that current and future sources of funding or support from the directors will be adequate to meet the company’s needs for a period of at least 12 months from the date of approval of these financial statements.

2.3. Turnover

Turnover is recognised to the extent there is probable 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.

Turnover from a contract to provide services is recognised in the period in which the services are provided.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are stated at historical cost less accumulated depreciation and any impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged to profit or loss over the estimated useful economic lives as follows:

Fixtures & Fittings	20% reducing balance
Computer Equipment	20% reducing balance

The assets’ residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Repairs and maintenance costs are charged to profit or loss during the period in which they are incurred.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined, which is the higher of its fair value less costs to sell and its value in use. Any impairment loss is recognised immediately as an expense within the profit or loss.

2.5. Financial Instruments

Trade and other debtors / creditors

Trade and other debtors are recognised initially at transaction prices less attributable transaction costs. Trade and other creditors are recognised initially at transaction price plus attributable transaction costs. Subsequent to initial recognition they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade debtors. If the arrangement constitutes a financing transaction, for example if payment is deferred beyond normal business terms, then it is measured at the present value of future payments discounted at a market rate of interest for a similar debt instrument.

Impairment of financial assets

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found an impairment loss is recognised within profit or loss.

For financial assets that are measured at amortised cost, the impairment loss is measured as the difference between the asset’s carrying amount and the present value of estimated cash flows discounted at the asset’s original effective interest rate.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset’s carrying amount and the best estimate of the amount that the company would receive for the asset if it were to be sold at the balance sheet date.

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Vicarious Productions Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

2.6. 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.

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.

2.7. Government Grant

Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.

All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 1 (2024: 1)

4. Tangible Assets

	Fixtures & Fittings	Computer Equipment	Total
	£	£	£
Cost
As at 1 January 2025	37,780	1,666	39,446

As at 31 December 2025	37,780	1,666	39,446

Depreciation
As at 1 January 2025	32,080	667	32,747
Provided during the period	1,140	200	1,340

As at 31 December 2025	33,220	867	34,087

Net Book Value
As at 31 December 2025	4,560	799	5,359

As at 1 January 2025	5,700	999	6,699

5. Current Asset Investments

	2025	2024
	£	£
Other investments, held for sale	29,720	29,720

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Vicarious Productions Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

6. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	-	138
Corporation tax	-	655
VAT	1,210	1,689
Other creditors	37,911	43,592
Accruals and deferred income	14,520	600

	53,641	46,674

7. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	100	100

8. Ultimate Controlling Party

The company's ultimate controlling party is Ms C Y Harding by virtue of her ownership of 100% of the issued share capital in the company.

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		5,359		6,699

			5,359		6,699
CURRENT ASSETS
Investments	5	29,720		29,720
Cash at bank and in hand		15,015		9,676

		44,735		39,396
Creditors: Amounts Falling Due Within One Year	6	(53,641 )		(46,674 )

NET CURRENT ASSETS (LIABILITIES)			(8,906 )		(7,278 )

TOTAL ASSETS LESS CURRENT LIABILITIES			(3,547 )		(579 )

NET LIABILITIES			(3,547 )		(579 )

CAPITAL AND RESERVES
Called up share capital	7		100		100
Profit and Loss Account			(3,647 )		(679 )

SHAREHOLDERS' FUNDS			(3,547)		(579)