DISCOVERY LIGHTNING INVESTMENTS LTD

• ⚠

  Material uncertainty over going concern

  At the time of approving the financial statements, taking into consideration the financial position of the Company, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for a period of at least 12 months from the approval of the financial statements. The Company is in a net current asset position. On this basis, the directors believe it is appropriate to prepare the financial statements on a going concern basis. Although the directors currently have no reason to believe that the Company will be unable to continue as a going concern post-separation, the inability to fully assess the future financial and operational framework of the Company following the transaction indicates a material uncertainty which may cast significant doubt on the Company's ability to continue as a going concern. Notwithstanding this, the directors are satisfied that the going concern basis remains appropriate in the preparation of the Company's financial statements. These financial statements do not include any adjustments that would result if the Company were unable to continue as a going concern. In June 2025, Warner Bros. Discovery, Inc., the Company's ultimate parent, announced its intention to separate into two publicly traded companies. The completion of the separation is subject to shareholder and regulatory approvals. Because the transaction has not yet completed, the Company's directors are not able fully to assess the transaction's effect on the future financial and operational framework of the Company. These conditions, along with the other matters explained in note 2 to the financial statements, indicate the existence of a material uncertainty which may cast significant doubt about the company's ability to continue as a going concern.

• ◆

  1 PSC ceased in last 24 months

  Significant control changed hands — see the Ownership section.

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

FRS 101

Reporting scope

Standalone (parent only)

Auditor

PricewaterhouseCoopers LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“At the time of approving the financial statements, taking into consideration the financial position of the Company, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for a period of at least 12 months from the approval of the financial statements. The Company is in a net current asset position. On this basis, the directors believe it is appropriate to prepare the financial statements on a going concern basis. Although the directors currently have no reason to believe that the Company will be unable to continue as a going concern post-separation, the inability to fully assess the future financial and operational framework of the Company following the transaction indicates a material uncertainty which may cast significant doubt on the Company's ability to continue as a going concern. Notwithstanding this, the directors are satisfied that the going concern basis remains appropriate in the preparation of the Company's financial statements. These financial statements do not include any adjustments that would result if the Company were unable to continue as a going concern. In June 2025, Warner Bros. Discovery, Inc., the Company's ultimate parent, announced its intention to separate into two publicly traded companies. The completion of the separation is subject to shareholder and regulatory approvals. Because the transaction has not yet completed, the Company's directors are not able fully to assess the transaction's effect on the future financial and operational framework of the Company. These conditions, along with the other matters explained in note 2 to the financial statements, indicate the existence of a material uncertainty which may cast significant doubt about the company's ability to continue as a going concern.”

Significant events

• “On 9 June 2025, the ultimate parent company, WBD Inc., announced that the Board has decided to separate WBD Inc. into two independent companies - each with its own leadership, strategy, and operational direction as well as distinct publicly traded entities: Warner Bros. and Discovery Global. This announcement represents a forward-looking statement.”
• “As described in note 9, as of 31 December 2024 the Company held investments in Lions Gate Entertainment Corporation (the investee) of 5,000,000 common shares, without par value. On 6 May 2025, the investee effected a stock split which resulted into two standalone, publicly traded companies: Starz Entertainment Corporation and Lionsgate Studios Corporation. Effective from the date of stock split, the Company held new sets of shares: 5,300,000 commons shares in Lionsgate Studios Corporation and 353,334 common shares in Starz Entertainment Corporation. Subsequent to the stock split, between 2-6 June 2025, the Company sold the entire 353,334 common shares in Starz Entertainment Corporation as well as the entire 5,300,000 common shares in Lionsgate Studios Corporation.”
• “In the 2024 accounting period and prior years, the Company received tax losses for nil consideration of £52,394,739, being the estimated value of the gross losses received. The WBD Inc. Group is reassessing its surrender of losses for group relief arising in these years in light of becoming aware of circumstances where a distribution may have taken place otherwise than in accordance with UK company law.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

9

last 12 months

Capital events

2

last 24 months

Officers appointed

0

last 12 months

Officers resigned

0

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  —

  Not reported

• Cash

  +5.6%

  £50,637,509 → £53,478,132

• Net assets

  -7.3%

  £89,722,758 → £83,174,944

• Employees

  —

  Not reported

• Profit before tax

  -130.6%

  £20,991,846 → -£6,425,500

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers