REGISTERED NUMBER: 03008779 (England and Wales)

GREEN STAR MEDIA LTD

Report of the Directors and

Unaudited Financial Statements

for the Year Ended 31 December 2025

Page

Company Information

1

Report of the Directors

2

Balance Sheet

4

Notes to the Financial Statements

6

DIRECTORS:

R Wilson

K A Barrow

C Morrison

REGISTERED OFFICE:

Jubilee House

92 Lincoln Road

Peterborough

PE1 2SN

REGISTERED NUMBER:

03008779 (England and Wales)

ACCOUNTANTS:

MHA (trading name of MHA Advisory Ltd)

Elfed House

Oak Tree Court

Cardiff Gate Business Park

CARDIFF

County of Cardiff

CF23 8RS

The directors present their report with the financial statements of the company for the year ended 31 December 2025.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of the publication of digital magazines for sports coaches, principally in football/soccer and rugby. Revenue is 97% from subscriptions, principally from readers in the UK and US.

TRADING

The year saw a 9% decline in subscription revenue, reflecting pressure from alternative sources and zero-click AI search. We are addressing this environment with a strategy focused on:

1. B2B subscriptions through grassroots and professional clubs.

2. Bespoke, AI-enhanced products and services drawing on our extensive 20-year archive of exclusive content. These will increasingly be integrated into the workflow and planning of grassroots and professional coaches.

3. Increasing promotion of the Elite Soccer Coaching Award which has graduates which have included more than a quarter of professional clubs in the Premier League and English Football League.

The strategy is under-pinned by our long-term relationships with the clubs, coaches and professional associations.

The directors believe the most important performance metric for this business is underlying EBITDA, as this is the main proxy for cash generation, with the charges between it and Operating Profit being either non-cash financial accounting entries, non-recurring costs or new business development.

Underlying EBITDA is tabulated as follows;

2025

2024

£

£

Underlying EBITDA being operating profit before the following charges;

38

95

Depreciation

(1)

(1)

Amortisation

(26)

(27)

Investment in new business development

-

(62)

Operating profit

11

5

Underlying EBITDA of £38k is £57k lower largely due to the decline in underlying subscription income resulting from the industry wide traffic declines due to the systemic changes within the global data platforms.

Given the external market forces, the directors are pleased with the underlying health, strength and resilience of the business and consider it very well placed to move the business fundamentals forward.

STRATEGIC REPORT

Key financial information is as follows:

2025

2024

£

£

Revenue

861

885

Underlying EBITDA*

38

95

Underlying EBITDA margin

4%

11%

Cash

144

103

Debt

6

16

*Underlying EBITDA for 2024 has been adjusted for research costs for a new product.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 January 2025 to the date of this report.

R Wilson

K A Barrow

C Morrison

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

K A Barrow - Director

15 September 2026

FIXED ASSETS

Intangible assets

4

62,894

89,191

Tangible assets

5

710

407

63,604

89,598

CURRENT ASSETS

Debtors

6

217,039

232,970

Cash at bank

143,856

102,667

360,895

335,637

CREDITORS

Amounts falling due within one year

7

(367,123

)

(371,390

)

NET CURRENT LIABILITIES

(6,228

)

(35,753

)

TOTAL ASSETS LESS CURRENT LIABILITIES

57,376

53,845

CREDITORS

Amounts falling due after more than one year

8

-

(5,374

)

NET ASSETS

57,376

48,471

CAPITAL AND RESERVES

Called up share capital

9

124,524

124,524

Share premium

149,677

149,677

Retained earnings

(216,825

)

(225,730

)

SHAREHOLDERS' FUNDS

57,376

48,471

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 September 2026 and were signed on its behalf by:

K A Barrow - Director

1.	STATUTORY INFORMATION

Green Star Media 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 company's functional and presentational currency in the financial statements is Sterling (£), rounded to the nearest pound.

The significant accounting policies applied in the presentation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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.

There have been no material departures from Financial Reporting Standard 102 1A.

Going concern

At 31 December 2025 the company had net current liabilities of £6,228. The going concern basis for the preparation of the financial statements is considered to be appropriate as the company has the directors ongoing support.

Turnover

Turnover represents the total invoiced value, excluding value added tax, of subscriptions sold during the year. Turnover does not include subscription income invoiced in respect of future periods, which is deferred evenly over the length of a subscription on a month by month basis.

Other intangible assets

Other intangible assets relate to Platform development costs. These assets are written off on a straight line basis over 5 years, being the directors estimate of their economic useful life. These estimates are reviewed at the end of each reporting period. If there are indicators of impairment, an impairment review is carried out by the directors and if the carrying value exceeds the recoverable amount the excess is written off to the profit and loss account.

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

-

10 - 33% on cost

Tangible fixed assets are stated at cost less depreciation. Cost includes costs directly attributable to making the asset capable of operating as intended.

Current tax

Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the year and is calculated 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.

Foreign currencies

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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Financial instruments

Basic financial instruments are recognised at amortised cost.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2024 - 5 ) .

4.	INTANGIBLE FIXED ASSETS

Platform

development

costs

£

COST

At 1 January 2025

and 31 December 2025

134,854

AMORTISATION

At 1 January 2025

45,663

Amortisation for year

26,297

At 31 December 2025

71,960

NET BOOK VALUE

At 31 December 2025

62,894

At 31 December 2024

89,191

5.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 January 2025

3,120

Additions

1,047

At 31 December 2025

4,167

DEPRECIATION

At 1 January 2025

2,713

Charge for year

744

At 31 December 2025

3,457

NET BOOK VALUE

At 31 December 2025

710

At 31 December 2024

407

6.

DEBTORS

2025

2024

£

£

Amounts falling due within one year:

Other debtors

13,998

27,011

Amounts falling due after more than one year:

Other debtors

203,041

205,959

Aggregate amounts

217,039

232,970

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

5,760

10,698

Trade creditors

27,628

25,481

Taxation and social security

8,862

7,568

Other creditors

324,873

327,643

367,123

371,390

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

-

5,374

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

11,859,410

Ordinary

1p

118,594

118,594

11,859,410

A Ordinary

0.0005p

5,930

5,930

124,524

124,524

10.	OTHER FINANCIAL COMMITMENTS

At the balance sheet date the company had total commitments relating to operating leases of £1,024 (2024: £2,384).