ACCOUNTS - Final Accounts

Registered number: 13086563

FOURTH WALL FEP1 LIMITED

Financial statements

Information for filing with the registrar

for the year ended 30 September 2025

FOURTH WALL FEP1 LIMITED

Registered number: 13086563

Balance sheet

as at 30 September 2025

		2025		2024
Note		£		£


Current assets
Stocks	4	-		191,804
Debtors: amounts falling due within one year	5	1,646,438		156,853
Cash at bank and in hand		175		636
		1,646,613		349,293
Creditors: amounts falling due within one year	6	(1,922,647)		(332,856)
Net current (liabilities)/assets			(276,034)		16,437
Total assets less current liabilities			(276,034)		16,437

Net (liabilities)/assets			(276,034)		16,437

Capital and reserves
Called up share capital	7	1	1
Profit and loss account		(276,035)	16,436
		(276,034)	16,437

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:

Mr M Fenney

Director

Date: 17 September 2026

The notes on pages 2 to 5 form part of these financial statements.

Page 1

FOURTH WALL FEP1 LIMITED

Notes to the financial statements

for the year ended 30 September 2025

1.	General information

Fourth Wall FEP1 Limited is a private company limited by shares incorporated in England and Wales. The registered office is 2 Riverview Business Park, Shore Wood Road, Bromborough, Wirral, CH62 3RQ and the company registration number is 13086563.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The financial statements are presented in Sterling which is the functional currency of the company and are stated to the nearest £1.

The following principal accounting policies have been applied:

2.2

Going concern

The Directors have made a strategic decision to close the business at an indeterminate date in the near future. Therefore, these financial statements have been prepared on a basis other than that of the going concern basis.

This basis includes, where applicable, writing the Company's assets down to net realisable value. Provisions have also been made in respect of contracts which have become onerous at the reporting date. No provision has been made for the future costs of terminating the business such as costs of winding down the business (e.g. liquidation fees) unless such costs were committed at the reporting date such as the costs of redundancies as a constructive obligation was created at the reporting date.

2.3

Revenue

Revenue is recognised to the extent that it is probable that the 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. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

∙the Company has transferred the significant risks and rewards of ownership to the buyer;

∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

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

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Page 2

FOURTH WALL FEP1 LIMITED

Notes to the financial statements

for the year ended 30 September 2025

2.Accounting policies (continued)

2.4

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 balance sheet date in the countries where the Company operates and generates income.

2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Employees

The Company has no employees other than the directors, who did not receive any remuneration (2024 - £NIL).

4.	Stocks
		2025	2024
		£	£

	Finished goods and goods for resale	-	191,804

Page 3

FOURTH WALL FEP1 LIMITED

Notes to the financial statements

for the year ended 30 September 2025

Debtors

					2025	2024
					£	£


Trade debtors	1,534,660	-
Amounts owed by group undertakings	11,777	-
Other debtors	60,074	27,538
Prepayments and accrued income	39,927	129,315
	1,646,438	156,853

6.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Trade creditors	1,894,490	30,240
Other taxation and social security	-	138,116
Accruals and deferred income	28,157	164,500
	1,922,647	332,856

7.	Share capital
		2025	2024
		£	£

Allotted, called up and fully paid

1 (2024 - 1) Ordinary share of £1.00	1	1

8.	Related party transactions
	The company has taken advantage of the exemption in section 33.1A of FRS 102 102 from disclosing transactions entered into between two or more members of a group, as all subsidiaries are wholly owned.

9.	Post balance sheet events

Subsequent to the balance sheet date, the Director's have made a strategic decision to close the business at an indeterminate date in the near future. Therefore, these financial statements have been prepared on a basis other than that of the going concern basis, as described in more detail in Note 2.2.

10.	Controlling party

The ultimate controlling party is the parent company, Fourth Wall Creative Limited.

Page 4

FOURTH WALL FEP1 LIMITED

Notes to the financial statements

for the year ended 30 September 2025

11.	Auditors' information

The auditors' report on the financial statements for the year ended 30 September 2025 was unqualified.

In their report, the auditors emphasised the following matter without qualifying their report:

We draw attention to Note 2.2 of the financial statements, which explains that the directors intend to liquidate the Company and therefore do not consider it to be appropriate to adopt the going concern basis of accounting in preparing the financial statements. Accordingly, the financial statements have been prepared on a basis other than going concern as described in Note 2.2. Our opinion is not modified in respect of this matter

The audit report was signed on 21 September 2026 by James Bagley (Senior statutory auditor) on behalf of PKF Smith Cooper Audit Limited.

Page 5