Omeda Studios Limited

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

1. General Information

Omeda Studios Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12425865 . The registered office is Flat 186 May House Sydney Road, Watford, WD18 7EU.

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 financial statements have been prepared on a going concern basis. The directors have considered the company's financial position and, having taken into account the continued financial support committed by the company's investors, are satisfied that the company will have sufficient resources to meet its liabilities as they fall due for a period of not less than 12 months from the date of approval of these financial statements.

Accordingly, the directors consider it appropriate to prepare the financial statements 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 sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

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 recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Trademarks are being amortised evenly over their estimated useful life of 10 years.

2.5. Tangible Fixed Assets and Depreciation

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated 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 so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Computer Equipment

4 year straight line

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Omeda Studios Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

2.6. Financial Instruments

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.

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

The company has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments. Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the instrument.

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.

The company’s policies for its major classes of financial assets and financial liabilities are set out below.

Financial assets

Basic financial assets, including trade and other debtors and cash and bank balances, are initially recognised at transaction price, 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 for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Financial liabilities

Basic financial liabilities, including trade and other creditors, intercompany loans, accruals and deferred income are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

2.7. 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.

2.8. 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.

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Omeda Studios Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

3. Average Number of Employees

Average number of employees, including directors, during the year was: 31 (2024: 32)

4. Intangible Assets

	Other
	£
Cost
As at 1 January 2025	9,147

As at 31 December 2025	9,147

Amortisation
As at 1 January 2025	2,134
Provided during the period	915

As at 31 December 2025	3,049

Net Book Value
As at 31 December 2025	6,098

As at 1 January 2025	7,013

5. Tangible Assets

	Computer Equipment
	£
Cost
As at 1 January 2025	126,476
Additions	4,430

As at 31 December 2025	130,906

Depreciation
As at 1 January 2025	65,339
Provided during the period	30,846

As at 31 December 2025	96,185

Net Book Value
As at 31 December 2025	34,721

As at 1 January 2025	61,137

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment - 4 years straight line

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Omeda Studios Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

6. Debtors

	31 December 2025	31 December 2024
	£	£
Due within one year
Trade debtors	318,079	207,987
Other debtors	79,657	372,035

	397,736	580,022
Due after more than one year
Other debtors	5,329,549	-

	5,727,285	580,022

7. Creditors: Amounts Falling Due Within One Year

	31 December 2025	31 December 2024
	£	£
Trade creditors	155,115	104,028
Bank loans and overdrafts	78,345	83,554
Other creditors	332,669	185,347
Taxation and social security	44,926	55,485

	611,055	428,414

8. Deferred Taxation

The provision for deferred tax is made up as follows:

Movement in Deferred Tax Asset	2025	2024
Opening deferred tax asset	-	-
Credit to profit and loss account	5,329,549	-
Closing deferred tax asset	5,329,549	-

Composition of Deferred Tax Asset	2025
Tax losses carried forward	21,318,195
Deferred tax asset recognised	5,329,549

The company has recognised a deferred tax asset arising from unused tax losses carried forward. The asset has been recognised to the extent that the directors consider it probable that future taxable profits will be available against which the losses can be utilised. The recoverability of the deferred tax asset is reviewed at each reporting date.

The recognition of the deferred tax asset is supported by management forecasts demonstrating the availability of future taxable profits against which the losses are expected to be relieved.

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Omeda Studios Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

9. Share Capital

Share Class	Value	Number of Shares
Series A2 Preferred Shares	£0.000001	369,668
Series A Preferred Shares	£0.000001	242,424
Series A Shares	£0.000001	1,284,045
Seed Preferred Shares	£0.000001	893,216
Seed Ordinary Shares	£0.000001	115,951
Ordinary Shares	£0.000001	2,961,817

This note is provided to clarify the naming conventions of the various classes of shares issued by the company, in accordance with HMRC filing requirements. The classifications above reflect the respective rights, preferences, and priorities attached to each class of share, which may impact the allocation of dividends, voting rights, and distributions of assets in the event of liquidation.

10. Reserves

	Share Premium	Other reserves	Profit and Loss Account
	£	£	£
As at 1 January 2025	24,744,416	56,630	(15,499,691 )
Profit for the year and total comprehensive income	-	-	286,581

Arising on shares issued during the period	-	-	-

As at 31 December 2025	24,744,416	56,630	(15,213,110 )

This reserve represents the consideration paid for ordinary share capital in excess of the nominal value of the ordinary share capital.

11. Controlling Party

The directors are of the opinion that there is no ultimate controlling party.

12. Audit Information

The auditor's report on the accounts of Omeda Studios Limited for the year ended 31 December 2025 was unqualified.

The auditor's report was signed by Vishal Patel (Senior Statutory Auditor) for and on behalf of VPC Accountants Ltd , Statutory Auditor.

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		31 December 2025		31 December 2024
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		6,098		7,013
Tangible Assets	5		34,721		61,137

			40,819		68,150
CURRENT ASSETS
Debtors	6	5,727,285		580,022
Cash at bank and in hand		4,430,892		9,081,602

		10,158,177		9,661,624
Creditors: Amounts Falling Due Within One Year	7	(611,055 )		(428,414 )

NET CURRENT ASSETS (LIABILITIES)			9,547,122		9,233,210

TOTAL ASSETS LESS CURRENT LIABILITIES			9,587,941		9,301,360

NET ASSETS			9,587,941		9,301,360

CAPITAL AND RESERVES
Called up share capital	9		5		5
Share premium account			24,744,416		24,744,416
Other reserves			56,630		56,630
Profit and Loss Account			(15,213,110 )		(15,499,691 )

SHAREHOLDERS' FUNDS			9,587,941		9,301,360