The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 August 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

Briggate Studios Limited is a private company limited by shares incorporated in England and Wales.

The financial statements have been prepared for the year ended 31 August 2025. The comparative figures cover the period from incorporation to the year-end of 31 August 2024, which is longer than one year.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The company's statement of financial position as at 31 August 2025 shows net liabilities of £1,814,305 (2024: £678,858). Following the year end, the company disposed of its property asset at a loss. The directors are currently in discussions with the company's creditors regarding the settlement of outstanding liabilities.

The directors have prepared cash flow forecasts and have considered the company's expected cash requirements together with the status of ongoing discussions with creditors. The directors have also considered the funding provided by a fellow group undertaking, as detailed in Note 5, which at 31 August 2025 amounted to £16,377,311 and is not immediately repayable.

Based on these considerations, the directors believe that an orderly settlement of the company's liabilities can be achieved and have therefore prepared the financial statements on a going concern basis.

However, the company's ability to continue as a going concern is dependent upon the successful conclusion of negotiations with its creditors. These conditions indicate the existence of a material uncertainty which may cast significant doubt upon the company's ability to continue as a going concern. Following the settlement of its remaining liabilities, it is the directors' intention to conclude the affairs of the company and seek its dissolution.

The financial statements do not include any adjustments that would arise if the company were unable to continue as a going concern.

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Other operating income

Other operating income comprises incidental rental income from properties held for sale prior to disposal. Such income is recognised on a receivable basis in accordance with the terms of the lease agreements.

Stock are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stock to their present location and condition.

Stock held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment by management. Any excess of the carrying amount of stock over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

The company only has basic financial instruments measured at amortised cost with no financial

instruments as other or basic instruments measured at fair value.

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

The 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 net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

The average monthly number of persons (including directors) employed by the company during the year was:

The immediate controlling entity is The Chambers Leeds Limited by virtue of its shareholding in the company. The ultimate controlling entity is Celeres Investments Limited.

The company has taken advantage of the exemption in FRS 102 Section 1AC.35 from disclosing related party transactions entered into between wholly owned group undertakings.