REGISTERED NUMBER: 07892813 (England and Wales)

REPORT OF THE DIRECTOR AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2026

FOR

BLACKMAGIC DESIGN (TECHNOLOGY) LIMITED

Page

Company Information

1

Report of the Director

2

Report of the Independent Auditors

4

Income Statement

7

Other Comprehensive Income

8

Balance Sheet

9

Statement of Changes in Equity

10

Notes to the Financial Statements

11

DIRECTOR:

G Petty

REGISTERED OFFICE:

Russell House

Oxford Road

Bournemouth

BH8 8EX

REGISTERED NUMBER:

07892813 (England and Wales)

AUDITORS:

Burnside

Chartered Accountants

and Statutory Auditor

61 Queen Square

Bristol

BS1 4JZ

The director presents his report with the financial statements of the company for the year ended 30 June 2026.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of the provision of engineering services to its parent company.

DIVIDENDS

During the year the director declared an interim dividend of £915,150 per ordinary share, totalling £1,830,300, which was paid to the company’s parent, Blackmagic Design Pty Limited (2025: £nil).

The director does not recommend the payment of a final dividend for the year ended 30 June 2026.

DIRECTOR

G Petty held office during the whole of the period from 1 July 2025 to the date of this report.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES

The director is responsible for preparing the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 101 'Reduced Disclosure Framework'. Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, Burnside, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

G Petty - Director

22 October 2026

Opinion

We have audited the financial statements of Blackmagic Design (Technology) Limited (the 'company') for the year ended 30 June 2026 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 101 'Reduced Disclosure Framework' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 30 June 2026 and of its profit for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information

The director is responsible for the other information. The other information comprises the information in the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Report of the Director has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Director.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of director's remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit; or

-	the director was not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption from the requirement to prepare a Strategic Report.

Responsibilities of director

As explained more fully in the Statement of Director's Responsibilities set out on page two, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

An understanding of the legal and regulatory framework applicable to the entity was obtained from management and those charged with governance of the entity, and the audit engagement team was confirmed to have the appropriate competence and capabilities to identify non-compliance with such a framework.

No significant instances of fraud, non-compliance with laws and regulations or other irregularities were communicated to the engagement team by management or those charged with governance, and no particular audit areas or legislation were identified that gave rise to any significant risks of material misstatement in respect of such irregularities.

Due to the size and nature of the entity its susceptibility to material misstatement resulting from fraud, non-compliance with laws and regulations, or other irregularities is considered to be low, and the audit approach was appropriately planned so as to address this risk.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Stephen Burnside (Senior Statutory Auditor)

for and on behalf of Burnside

Chartered Accountants

and Statutory Auditor

61 Queen Square

Bristol

BS1 4JZ

22 October 2026

TURNOVER

3

2,210,400

2,148,150

Cost of sales

1,545,921

1,553,634

GROSS PROFIT

664,479

594,516

Administrative expenses

510,352

435,222

154,127

159,294

Other operating income

183,528

270,105

OPERATING PROFIT

337,655

429,399

Interest receivable and similar income

1,377

3,718

339,032

433,117

Interest payable and similar expenses

5

100

1,884

PROFIT BEFORE TAXATION

6

338,932

431,233

Tax on profit

7

84,733

114,229

PROFIT FOR THE FINANCIAL YEAR

254,199

317,004

PROFIT FOR THE YEAR

254,199

317,004

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

254,199

317,004

FIXED ASSETS

Tangible assets

9

21,201

60,494

CURRENT ASSETS

Debtors

10

820,934

2,078,364

Cash at bank

77,492

321,601

898,426

2,399,965

CREDITORS

Amounts falling due within one year

11

292,340

255,837

NET CURRENT ASSETS

606,086

2,144,128

TOTAL ASSETS LESS CURRENT LIABILITIES

627,287

2,204,622

CREDITORS

Amounts falling due after more than one year

12

(20,000

)

(20,000

)

PROVISIONS FOR LIABILITIES

15

(5,300

)

(6,534

)

NET ASSETS

601,987

2,178,088

CAPITAL AND RESERVES

Called up share capital

16

2

2

Retained earnings

17

601,985

2,178,086

SHAREHOLDERS' FUNDS

601,987

2,178,088

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

The financial statements were approved by the director and authorised for issue on 22 October 2026 and were signed by:

G Petty - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 July 2024

2

1,861,082

1,861,084

Changes in equity

Total comprehensive income

-

317,004

317,004

Balance at 30 June 2025

2

2,178,086

2,178,088

Changes in equity

Dividends

-

(1,830,300

)

(1,830,300

)

Total comprehensive income

-

254,199

254,199

Balance at 30 June 2026

2

601,985

601,987

1.	STATUTORY INFORMATION

Blackmagic Design (Technology) 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.

2.	ACCOUNTING POLICIES

Basis of preparation

These financial statements have been prepared in accordance with Financial Reporting Standard 101 "Reduced Disclosure Framework" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern

The director has considered the operations of the company and its financial position, and considers that it is reasonable for them to believe that the company will be operating 12 months from the date of the approval of the accounts. The accounts have therefore been prepared on the going concern basis.

The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 101 "Reduced Disclosure Framework":

•

the requirements of paragraph 52, the second sentence of paragraph 89, and paragraphs 90, 91 and 93 of IFRS 16 Leases;

the requirements of paragraph 58 of IFRS 16;

•

the requirements of the second sentence of paragraph 110 and paragraphs 113(a), 114, 115, 118, 119(a) to (c), 120 to 127 and 129 of IFRS 15 Revenue from Contracts with Customers;

•

the requirement in paragraph 38 of IAS 1 Presentation of Financial Statements to present comparative information in respect of:

-

paragraphs 53(a), (h) and (j) of IFRS 16;

-

paragraph 79(a)(iv) of IAS 1; and

-

paragraph 73(e) of IAS 16 Property, Plant and Equipment;

•

the requirements of paragraphs 10(d), 10(f), 16, 38A, 38B, 38C, 38D, 40A, 40B, 40C, 40D, 111 and 134 to 136 of IAS 1;

•

the requirements of

-

paragraphs 1 to 44E, 44H(b)(ii) and 45 to 63 of IAS 7 Statement of Cash Flows; and

-

paragraphs 44F, 44G, 44H(a), 44H(b)(i), 44H(b)(iii) and 44H(c) of IAS 7;

•

the requirements of paragraphs 30 and 31 of IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors;

•

the requirements of paragraphs 88C and 88D of IAS 12 Income Taxes;

•

the requirements of paragraph 74(b) of IAS 16;

•

the requirements of paragraphs 17 and 18A of IAS 24 Related Party Disclosures;

•

the requirements in IAS 24 Related Party Disclosures to disclose related party transactions entered into between two or more members of a group;

Turnover

Turnover represents engineering services to provide research and development to the company's parent company. The income is recognised as the services are provided.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Long leasehold

-

over the term of the lease

Fixtures and fittings

-

33% on cost

Computer equipment

-

33% on cost

Taxation

Current taxes are based on the results shown in the financial statements and are calculated according to local tax rules, using tax rates enacted or substantially enacted by the balance sheet date.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Employee benefit costs

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

Leases

At inception of a contract, the company assesses whether the contract is, or contains, a lease. A contract is, or contains, a lease if it conveys the right to control the use of an identified asset for a period of time in exchange for consideration.

At the commencement date the company recognises a right-of-use asset and a lease liability. The lease liability is initially measured at the present value of the lease payments not paid at that date, discounted using the interest rate implicit in the lease or, where that rate cannot be readily determined, the company’s incremental borrowing rate. The liability is subsequently measured at amortised cost using the effective interest method, and is remeasured when there is a change in future lease payments or in the assessment of the lease term.

The right-of-use asset is initially measured at cost. This comprises the initial amount of the lease liability, any lease payments made at or before the commencement date less any lease incentives received, any initial direct costs, and an estimate of the costs of dismantling, removing or restoring the underlying asset required by the terms of the lease. The right-of-use asset is depreciated on a straight-line basis from the commencement date to the earlier of the end of its useful life and the end of the lease term.

The company has elected not to recognise right-of-use assets and lease liabilities for short-term leases (leases with a lease term of 12 months or less) and leases of low-value assets. Lease payments on such leases are recognised as an expense on a straight-line basis over the lease term.

3.

TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

4.	EMPLOYEES AND DIRECTORS

2026

2025

£

£

Wages and salaries

1,261,319

1,274,504

Social security costs

144,131

134,954

Other pension costs

71,598

74,347

1,477,048

1,483,805

The average number of employees during the year was as follows:

2026

2025

Software engineers

21

21

2026

2025

£

£

Director's remuneration

-

-

5.

INTEREST PAYABLE AND SIMILAR EXPENSES

2026

2025

£

£

Lease interest

100

1,884

6.	PROFIT BEFORE TAXATION

The profit before taxation is stated after charging/(crediting):

2026

2025

£

£

Depreciation - owned assets

52,814

121,518

Auditors' remuneration

7,925

7,150

Foreign exchange differences

(170

)

-

Aggregate costs to undertake research and development, including staff costs

927,887

1,350,526

7.

TAXATION

Analysis of tax expense

2026

2025

£

£

Current tax:

Tax

85,967

106,905

Tax for previous years

-

6,419

Total current tax

85,967

113,324

Deferred tax

(1,234

)

905

Total tax expense in income statement

84,733

114,229

Factors affecting the tax expense

The tax assessed for the year is the same as (2025 - higher) the standard rate of corporation tax in the UK. The difference is explained below:

2026

2025

£

£

Profit before income tax

338,932

431,233

Profit multiplied by the standard rate of corporation tax in the UK of 25% (2025 - 25%)

84,733

107,808

Effects of:

Depreciation in excess of capital allowances

1,234

(903

)

Tax adjustments for previous years

-

6,419

Movement on deferred tax recognised

(1,234

)

905

Tax expense

84,733

114,229

8.

DIVIDENDS

2026

2025

£

£

Ordinary shares of £1 each

Interim

1,830,300

-

9.	TANGIBLE FIXED ASSETS

Fixtures

Long

and

Computer

leasehold

fittings

equipment

Totals

£

£

£

£

COST

At 1 July 2025

603,166

35,593

230,676

869,435

Additions

-

181

13,340

13,521

Disposals

(491,018

)

(1,150

)

(98,989

)

(591,157

)

At 30 June 2026

112,148

34,624

145,027

291,799

DEPRECIATION

At 1 July 2025

568,809

35,389

204,743

808,941

Charge for year

34,357

385

18,072

52,814

Eliminated on disposal

(491,018

)

(1,150

)

(98,989

)

(591,157

)

At 30 June 2026

112,148

34,624

123,826

270,598

NET BOOK VALUE

At 30 June 2026

-

-

21,201

21,201

At 30 June 2025

34,357

204

25,933

60,494

Included within long leasehold property was a right-of-use asset in respect of the company’s former office premises at Suite 2B, Spectrum, Bond Street, Bristol. The lease expired on 26 November 2025, by which date the asset was fully depreciated, and it was derecognised on expiry. Further details of right-of-use assets and lease liabilities are given in note 14.

On 11 June 2026 the company entered into an Agreement for Lease in respect of new office premises. The lease commenced after the year end, on 7 September 2026, and no right-of-use asset was recognised at 30 June 2026. Details of the commitment are given in note 14.

10.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade debtors

545,980

1,582,991

Other debtors

73,509

71,680

Prepayments

77,997

64,531

Tax

97,391

340,846

VAT

26,057

18,316

820,934

2,078,364

Included within Debtors: amounts falling due within one year is a balance of £545,980 (2025: £1,582,991) owed by the parent company, Blackmagic Design Pty Ltd. The balance is interest free, unsecured and repayable on demand.

11.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Leases (see note 13)

-

19,581

Trade creditors

77,844

53,315

Social security and other taxes

35,690

36,371

Accrued expenses

178,806

146,570

292,340

255,837

12.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2026

2025

£

£

Other creditors

20,000

20,000

13.

FINANCIAL LIABILITIES - BORROWINGS

2026

2025

£

£

Current:

Leases (see note 14)

-

19,581

14.

LEASES

Lease liabilities

Minimum lease payments fall due as follows:

2026

2025

£

£

Gross obligations repayable:

Within one year

-

19,831

-

19,831

Finance charges repayable:

Within one year

-

250

Net obligations repayable:

Within one year

-

19,581

£

LEASE LIABILITIES

At 1 July 2025

19,581

Interest charged

100

Lease payments

(19,681

)

At 30 June 2026

-

On 11 June 2026 the company entered into an Agreement for Lease in respect of office premises at Second Floor, Suite E, The Crescent, Temple Back, Bristol. The lease had not commenced at 30 June 2026, and accordingly no right-of-use asset or lease liability has been recognised at that date.

The lease commenced on 7 September 2026 for a term of five years. Rent of £145,756 per annum (exclusive of VAT) is payable quarterly in advance from 7 May 2027, following an eight-month rent-free period. The total undiscounted rent payable over the lease term is £631,609.

15.	PROVISIONS FOR LIABILITIES

2026

2025

£

£

Deferred tax

Accelerated capital allowances

6,534

5,629

Deferred tax

(1,234

)

905

5,300

6,534

Deferred

tax

£

Balance at 1 July 2025

6,534

Credit to Income Statement during year

(1,234

)

Balance at 30 June 2026

5,300

16.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2026

2025

value:

£

£

2

Ordinary

£1

2

2

17.

RESERVES

Retained

earnings

£

At 1 July 2025

2,178,086

Profit for the year

254,199

Dividends

(1,830,300

)

At 30 June 2026

601,985

18.	RELATED PARTY DISCLOSURES

The company sold engineering services to Blackmagic Design PTY Limited, its parent company, for the sum of £2,210,400 (2025 - £2,148,150) during the year. At the year end the company was owed £545,980 (2025 - £1,582,991) by its parent company in respect of these services.

19.	ULTIMATE CONTROLLING PARTY

The company’s immediate and ultimate parent undertaking and controlling party is Blackmagic Design Pty Limited, a company incorporated in Australia, whose registered office is 180 Bank Street, South Melbourne, VIC 3205, Australia.

Blackmagic Design Pty Limited is the parent undertaking of the largest and smallest group of undertakings for which consolidated financial statements including the company are prepared. Copies of these consolidated financial statements can be obtained from the registered office address above.