226 ITV plc Annual Report and Accounts 2023 ITV plc Annual Report and Accounts 2023 227 F I NOTES TO THE FINANCIAL STATEMENTS NAN SECTION 5: OTHER NOTES CONTINUED C I AL 5.2 Keeping A contingent asset or liability is a liability that is not sufficiently certain to qualify for 5.4 Keeping Certain subsidiaries of the Group can take an exemption from having an audit. Strict S T it simple recognition as an asset or provision where uncertainty may exist regarding the it simple criteria must be met for this exemption to be taken, and it must be agreed by the A Contingent Subsidiaries T outcome of future events. Directors of that subsidiary entity. E assets and exempt M E liabilities from audit N T S Contingent liabilities There are contingent liabilities in respect of certain litigation and guarantees, broadcasting issues, and in respect of Listed below are subsidiaries controlled and consolidated by the Group, where the Directors have taken the warranties given in connection with certain disposals of businesses. In addition, the determination of employment exemption from having an audit of its financial statements. This exemption is taken in accordance with the tax status of some individuals contracted by ITV is complex and a future liability could arise in relation to this. None Companies Act 2006 s479A. of these items are expected to have a material effect on the Group’s results or financial position. Company number Company name Company number Company name As previously reported, on 12 July 2022, the UK Competition and Markets Authority (CMA) opened an investigation 04195187 12 Yard Productions (Investments) Limited 03089273 ITV Ventures Limited into certain conduct of ITV and other named companies in the sector relating to the production and broadcasting of 04145307 12 Yard Productions Limited 11107431 ITV Vera Limited sports content in the United Kingdom. The investigation is at an early stage and the CMA has confirmed it is currently 10058419 Back Productions Limited 14460676 ITV WKOW Limited undertaking further investigation until at least March 2024, subsequent to which ITV anticipates it will receive 13087812 Big Talk Alone Limited 13087699 ITV Y&M Limited 10496857 Big Talk Cold Feet Limited 05518785 Juice Music UK Limited additional detail regarding any future steps. 12092620 Big Talk Friday Limited 05976348 Mammoth Screen Limited 11109596 Big Talk Goes Wrong Limited 09355455 Mammoth Screen (End) Limited On 11 October 2023, the CMA opened an investigation into certain conduct of ITV and other named companies 13087733 Big Talk Horseface Limited 08546227 Mammoth Screen (End2) Limited in the sector relating to the production and broadcasting of television content in the UK, excluding sports content. 13087735 Big Talk I Hate You Limited 10528827 Mammoth Screen (End9) Limited The investigation remains at an early stage and it is not currently possible to reliably quantify any liability that might 07037447 Big Talk Investments Limited 11109917 Mammoth Screen (End6) Limited result from the investigation. ITV is committed to complying with competition law, and is cooperating with the CMA's 10528952 Big Talk Living the Dream Limited 11908267 Mammoth Screen (End7) Limited 13813181 Big Talk Ludwig Limited 12368766 Mammoth Screen (End8) Limited enquiries in relation to both investigations. 11723899 Big Talk Offenders Limited 13087685 Mammoth Screen (Evans) Limited 11109572 Big Talk Peacock Limited 12368661 Mammoth Screen (FS) Limited 02897434 Big Talk Pictures Limited 13989267 Mammoth Screen (GK) Limited Where the Group receives information in the period between 31 December 2023 06567813 Big Talk Studios Limited 11995990 Mammoth Screen (MD) Limited 5.3 Keeping 02936337 Boom Cymru TV Ltd 12735978 Mammoth Screen (MD2) Limited and the date of this report about conditions related to certain events that existed at Subsequent it simple 07922831 Boom Pictures Limited 13989179 Mammoth Screen (MIE) Limited events 31 December 2023, we update our disclosures that relate to those conditions in light 03866274 Box Clever Technology Limited 11062257 Mammoth Screen (NC) Limited of the new information. Such events can be categorised as adjusting or non-04192851 Box Clever Trustees Limited 09660486 Mammoth Screen (Pol2) Limited adjusting depending on whether the condition existed at 31 December 2023. If non-11801341 BritBox SVOD Limited 10031005 Mammoth Screen (Pol3) Limited adjusting events are material, non-disclosure could influence the economic 01891539 Broad Street Films Limited 10528763 Mammoth Screen (Pol4) Limited decisions that users make on the basis of the financial statements. Accordingly, for 02285229 Campania Limited 11108289 Mammoth Screen (Pol5) Limited 04159249 Carlton Content Holdings Limited 08799982 Mammoth Screen (Poldark) Limited each material category of non-adjusting event after the reporting period we 00301188 Carlton Film Distributors Limited 09646520 Mammoth Screen (QV) Limited disclose in this section the nature of the event and an estimate of its financial 01692483 Carlton Finance Limited 11108327 Mammoth Screen (Serpent) Limited effect, or a statement that such an estimate cannot be made. 03984490 Carlton Food Network Limited 11204836 Mammoth Screen (SG) Limited 03053908 Carlton Programmes Development Limited NI678277 Mammoth Screen (TJ) Limited 03210452 Carlton Screen Advertising (Holdings) Limited 13087656 Mammoth Screen (Tower) Limited Disposal of the Group’s Interests in BritBox International 03210363 Carltonco Ninety-Six 10528702 Mammoth Screen (VF) Limited On 1 March 2024, the Group announced the sale of its entire 50% interest in digital streaming service, BritBox 02280048 Castlefield Properties Limited 11108322 Mammoth Screen (Vic3) Limited 06409013 Cat’s on the Roof Media Limited 11108320 Mammoth Screen (WOF) Limited International to its joint venture partner BBC Studios for a cash consideration of £255 million. The transaction has 04257248 Channel Television Holdings Limited NI687412 Mammoth Screen (WOF2) Limited been effected by the disposal of the Group’s 50% interests in BritBox LLC, BB Rights LLC, Denipurna Limited and 08195508 Cirkus Limited 10973979 Mammoth Screen (WOTW) Limited BritBox International Limited and the 100% interest in ITV SVOD Australia Pty Ltd, which holds the 50% interest in 10240192 Cloth Cat LBB Limited 13412337 Metavision Limited BritBox Australia Management Pty Limited. 02852812 Cosgrove Hall Films Limited 09477931 Monumental Television Limited 09366309 Crook Productions Limited 04201477 Morning TV Limited 05421502 Cynhyrchiadau Boomerang Cyfyngedig 12368748 MT Ghosts Limited At 31 December 2023, the Group included these interests at their carrying value of £66 million, as held for sale in the 08479545 Double Double Limited 14764613 MT Marlow Murder Club Limited Consolidated Statement of Financial Position. See notes 3.4 and 3.5. 07821062 EQ Pictures Limited 13813329 MT Mrs Sidhu Limited 09366308 Gameface Productions Limited 13989060 MT Maryland Limited 05946785 Gorilla TV Group Limited 13087117 MT Murder in Provence Limited 03776018 Gorilla TV Limited 14763338 Output Productions Limited 00290076 Granada Group Limited 07473151 Oxford Scientific Films Limited 03962410 Granada Limited 13506403 Planet Woo Limited 03106798 Granada Media Limited 15175627 Planet V Limited 05344772 Granada Screen (2005) Limited 09020906 Possessed Limited 00733063 Granada Television Overseas Limited 14163547 QSP ATF Limited 00250311 Granada UK Rental and Retail Limited 14784655 QSP Buried Limited 04842712 Interactive Telephony Limited 14163654 QSP FMO Limited 00608490 ITC Entertainment Group Limited 14460916 QSP Ghosted Limited SC375274 ITV (Scotland) Limited 14496123 QSP Men Up Limited 11516620 ITV 112 Limited 14458573 QSP MU Limited 12956892 ITV AdVentures Limited 14462220 QSP MY Limited 13087805 ITV Alder Limited 14460933 QSP PD Limited 14047839 ITV Archie Limited 14460663 QSP TRK Limited 11667230 ITV Barking Limited 13714204 QSP Nolly Limited 02578005 ITV Breakfast Limited 14048037 QSP SO limited 02937518 ITV Consumer Limited 12350991 Second Act (Grace) Limited 13087759 ITV Duneen Limited 09366311 Second Act Productions Limited 10494684 ITV Enterprises Limited 07714999 Sightseers Film Limited 04159210 ITV Holdings Limited 03991026 So Television Limited 14133299 ITV Grace Limited 11423826 The Addressable Platform Limited 04159213 ITV International Channels Limited 07155077 The Garden Productions Limited 14846610 ITV JCDM Limited 02351132 TwoFour Broadcast Limited SC473179 ITV LTVC (Scotland) Limited 08602993 TwoFour Group Holdings Limited 14863612 ITV Mandrake Limited 05493388 TwoFour Group Limited 13989147 ITV Maternal Limited 11109744 WP Anne Limited 00603893 ITV Network Limited 10796122 WP Bodyguard Limited 11723842 ITV Nightingale Limited 14360979 WP Delia Limited 00603471 ITV Pension Scheme Limited 12368643 WP Diplomat Limited 14461569 ITV POS Limited 13988864 WP Fifteen Limited