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Registered number: 08146437
ROUTE 24 LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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ROUTE 24 LIMITED
REGISTERED NUMBER: 08146437
STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2025
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
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 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 income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.
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ROUTE 24 LIMITED
REGISTERED NUMBER: 08146437
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 15 October 2026.
The notes on pages 3 to 8 form part of these financial statements.
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ROUTE 24 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Route 24 Limited is a company limited by shares and is registered in England and Wales. The registered number is 08146437 and the registered office is 325-327 Oldfield Lane North, Greenford, Middlesex, UB6 0FX.
2.Accounting policies
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Basis of preparation of financial statements
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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 following principal accounting policies have been applied:
At the reporting date the company had net liabilities of £1,235,898 and meets its day to day working capital requirements through loans from shareholders.
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The directors therefore continue to adopt the going concern basis in preparing the financial statements.
Revenue comprises fees receivable in respect of film production services and is recognised in the period in which the service is performed.
Interest income is recognised in profit or loss using the effective interest method.
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
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ROUTE 24 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
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.
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:
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.
Investments in subsidiaries are measured at cost less accumulated impairment.
Work in progress consists of production costs valued at the lower of cost and net realisable value.
Short-term debtors are measured at transaction price, less any impairment.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
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ROUTE 24 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
Short-term creditors are measured at the transaction price.
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The average monthly number of employees, including directors, during the year was 6 (2024 - 6).
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Charge for the year on owned assets
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ROUTE 24 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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Investments in subsidiary companies
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Prepayments and accrued income
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ROUTE 24 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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Creditors: Amounts falling due within one year
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Other taxation and social security
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Accruals and deferred income
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Creditors: Amounts falling due after more than one year
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ITV A Loan
The company obtained a loan facility from ITV, a shareholder in the company for a maximum value of £1,150,000 which was subsequently extended by a further £500,000. On the provision directors do not sell their shareholdings and ITV continue to hold shares, the loan is repayable on 30 June 2027.
The loan is secured (fixed and floating charges over all property, undertaking and assets) and incurs interest at 4% per annum above the Bank of England base rate. The interest will be rolled up rather than payable during the term.
ITV B Loan
Further to the above, the "B" loan was drawn down in full on execution for a value of £1,050,000. On the provision directors do not sell their shareholdings and ITV continue to hold shares, this is repayable on 30 June 2027. The loan is unsecured and incurs interest at 4% per annum above the Bank of England base rate.
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The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £2,487 (2024: £2,412.) Contributions totalling £NIL (2024: £63) were payable to the fund at the reporting date and are included in creditors.
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ROUTE 24 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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Related party transactions
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During the year to 31 December 2025 expenses of £3,194 (2024: £10,490) were charged from companies with common directors. At the reporting date £788 (2024: £610) was due in respect of these expenses.
At the reporting date other creditors include £1,855 (2024: £2,338) due to the directors.
During the year fees totalling £722,500 (2024: £1,180,676) were receivable from companies with common directors. Also during the year interest free production advances totalling £NIL (2024: £395) were made to companies with common directors. At the reporting date £5,764 (2024: £8,101) were due in respect of these fees and advances.
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