ACCOUNTS - Final Accounts preparation

NantStudios Virtual Production UK Ltd

Registered number: NI721380

Annual report

For the period from the date of incorporation (18 September 2024) to 31 December 2025

NI721380

31 December 2025

NANTSTUDIOS VIRTUAL PRODUCTION UK LTD

REGISTERED NUMBER: NI721380

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2025

		2025
Note		£


Current assets
Debtors: amounts falling due within one year	4	246,623
		246,623
Creditors: amounts falling due within one year	5	(129,264)
Net current assets			117,359
Total assets less current liabilities			117,359

Net assets			117,359

Capital and reserves
Called up share capital	6	100
Profit and loss account		117,259
Total equity		117,359

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

D R Maughan

Director

Date: 18 September 2026

The notes on pages 2 to 8 form part of these financial statements.

Page 1

NI721380

31 December 2025

NANTSTUDIOS VIRTUAL PRODUCTION UK LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2025

1.	General information

NantStudios Virtual Production UK Ltd ("the Company") is a private company, limited by shares, incorporated and registered in Northern Ireland. The Company's registered number is NI721380. The Company's registered office address is C/O Browne Jacobson, Longbridge House, 24 Waring Street, Belfast, Antrim, BT1 2DX.
During the period, the Company extended its accounting period from 30 September 2025 to 31 December 2025 to align with other companies within the group to which the Company belongs.
The principal activity of the Company during the period was the repair and maintenance of the Studio at Ulster University in Northern Ireland.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements have been presented in Pound Sterling as this is the currency of the primary economic environment in which the Company operates and are rounded to the nearest pound.

The following principal accounting policies have been applied:

2.2

Going concern

The financial statements have been prepared on a going concern basis. In assessing the appropriateness of this basis, the director has considered the Company's current financial position, including its positive net asset position at the reporting date, and expected trading activity for a period of at least twelve months from the date of approval of these financial statements.
The Company currently derives its revenue from a single customer, Studio Ulster Limited. The director has considered the contractual arrangements in place between the Company and Studio Ulster Limited, including the ongoing provision of maintenance and support services, together with the continued strategic commitment of the NantStudios group to the Company's activities.
In addition, the director has reviewed the Company's post year-end trading performance and cash flow results, which have been in line with expectations and support the forecast trading and liquidity position of the Company for the foreseeable future.
Based on the above considerations, the director has a reasonable expectation that the Company has adequate resources to continue in operational existence and meet its obligations as they fall due for at least twelve months from the date of approval of these financial statements. Accordingly, the financial statements have been prepared on a going concern basis.

Page 2

NI721380

31 December 2025

NANTSTUDIOS VIRTUAL PRODUCTION UK LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.3

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of turnover can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

NI721380

31 December 2025

NANTSTUDIOS VIRTUAL PRODUCTION UK LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment.

2.7

Creditors

Short-term creditors are measured at the transaction price.

2.8

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of Financial Position 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 trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is

Page 4

NI721380

31 December 2025

NANTSTUDIOS VIRTUAL PRODUCTION UK LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.8

Financial instruments (continued)

measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Basic financial liabilities

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 the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

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

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Page 5

NI721380

31 December 2025

NANTSTUDIOS VIRTUAL PRODUCTION UK LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.8

Financial instruments (continued)

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

Employees

The average monthly number of employees, excluding the director, during the period was 1.

4.	Debtors: amounts falling due within one year

					2025
					£


	Trade debtors	76,995
	Amounts owed by group undertakings	136,380
	Prepayments and accrued income	33,248
		246,623

Amounts owed by group undertakings are unsecured, interest-free and repayable on demand.

Page 6

NI721380

31 December 2025

NANTSTUDIOS VIRTUAL PRODUCTION UK LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2025

5.	Creditors: amounts falling due within one year
		2025
		£

	Trade creditors	4,177
	Corporation tax	39,086
	Other taxation and social security	56,785
	Other creditors	2,750
	Accruals and deferred income	26,466
		129,264

6.	Called up share capital
		2025
		£

		Allotted, called up and fully paid

		1,000 Ordinary shares of £0.10 each	100

Each ordinary share has attached to it full voting rights, the right to participate upon a distribution of dividend and the right to participate upon a capital distribution.

Upon incorporation, the Company issued 1,000 ordinary shares, each with nominal value of £0.10 for total consideration of £100.

7.	Pension commitments

The Company operates a defined contribution pension scheme. The assets of the plan are held separately from the Company in independently administered funds. Contributions totalling £2,750 were payable to the fund at the reporting date.

Related party transactions

The Company has taken advantage of the exemptions provided by paragraph 33.1A of FRS 102 'Related Party Disclosures' and has not disclosed transactions entered into between two or more members of a Group, provided that any undertaking which is party to the transaction is wholly-owned by a member of that Group.
Under paragraph 1AC.35 of FRS 102 Section 1A, the Company is not required to disclose transactions entered into with related parties which have been concluded under normal market conditions.

9.	Post balance sheet events

There have been no significant events affecting the Company since the period-end.

Page 7

NI721380

31 December 2025

NANTSTUDIOS VIRTUAL PRODUCTION UK LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2025

10.	Controlling party

The Company's immediate and ultimate parent undertaking is NantMedia Holdings, LLC, a company incorporated in the United States of America. The registered office address of NantMedia Holdings, LLC is 2040 E. Mariposa Ave. El Segundo, CA 90245, United States of America.

The Company's ultimate controlling party is Dr. Patrick Soon-Shiong by virtue of his majority shareholding of NantMedia Holdings, LLC.

11.	Auditor's information

The auditor's report on the financial statements for the period ended 31 December 2025 was unqualified.

The audit report was signed on 18 September 2026 by Austin Sammon (Senior Statutory Auditor) on behalf of Forvis Mazars.

Page 8