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Company No: 04131640 (England and Wales)

IMEDIASPORT LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2021
Pages for filing with the registrar

IMEDIASPORT LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2021

Contents

IMEDIASPORT LIMITED

COMPANY INFORMATION

For the financial year ended 31 December 2021
IMEDIASPORT LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 December 2021
DIRECTOR J B N Hay
REGISTERED OFFICE 22 Chancery Lane
London
WC2A 1LS
United Kingdom
COMPANY NUMBER 04131640 (England and Wales)
IMEDIASPORT LIMITED

BALANCE SHEET

As at 31 December 2021
IMEDIASPORT LIMITED

BALANCE SHEET (continued)

As at 31 December 2021
Note 2021 2020
£ £
Fixed assets
Tangible assets 3 0 1,828
0 1,828
Current assets
Debtors 4 274,253 131,913
Cash at bank and in hand 799,294 790,589
1,073,547 922,502
Creditors
Amounts falling due within one year 5 ( 459,140) ( 443,684)
Net current assets 614,407 478,818
Total assets less current liabilities 614,407 480,646
Provision for liabilities 6 0 ( 348)
Net assets 614,407 480,298
Capital and reserves
Called-up share capital 106 106
Profit and loss account 614,301 480,192
Total shareholders' funds 614,407 480,298

For the financial year ending 31 December 2021 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of iMediasport Limited (registered number: 04131640) were approved and authorised for issue by the Director on 06 September 2022. They were signed on its behalf by:

J B N Hay
Director
IMEDIASPORT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2021
IMEDIASPORT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2021
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

The company is a private company limited by share capital incorporated in England and Wales.

The address of its registered office is:
22 Chancery Lane
London
WC2A 1LS

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

The financial statements have been prepared under the historical cost convention. The financial statements are presented in Sterling which is the functional currency of the company and rounded to the nearest £.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the provision of services to customers. Income is recognised when the services are provided.

Employee benefits

Defined contribution schemes
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Taxation

Current tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax
Deferred taxation is provided at current rates of taxation in respect of the excess of capital allowances over depreciation charged and other timing differences where it is considered likely that the potential liability will crystallise in the foreseeable future. Deferred taxation is not provided for where the net asset or liability is immaterial.

Tangible fixed assets

Tangible assets are stated at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Plant and machinery etc. 2 - 3 years straight line

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as above.

Leases

The Company as lessee
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments.

Government grants

Government grant income relating to the Coronavirus Job Retention Scheme is recognised in other operating income in the period in which the relevant expense is incurred.

Ordinary share capital

Ordinary shares are classified as equity.

Dividends

Interim dividend distributions to the company’s shareholders are recognised when paid. Final dividend distributions to the company's shareholders are recognised as a liability in the financial statements in the reporting period in which the dividends are approved.

2. Employees

2021 2020
Number Number
Monthly average number of persons employed by the Company during the year, including the director 5 6

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 January 2021 65,492 65,492
At 31 December 2021 65,492 65,492
Accumulated depreciation
At 01 January 2021 63,664 63,664
Charge for the financial year 1,828 1,828
At 31 December 2021 65,492 65,492
Net book value
At 31 December 2021 0 0
At 31 December 2020 1,828 1,828

4. Debtors

2021 2020
£ £
Trade debtors 236,027 106,896
Other debtors 38,226 25,017
274,253 131,913

5. Creditors: amounts falling due within one year

2021 2020
£ £
Trade creditors 118,052 19,860
Other creditors 299,747 301,464
Corporation tax 39,856 21,111
Other taxation and social security 1,485 101,249
459,140 443,684

6. Provision for liabilities

2021 2020
£ £
Other provisions 0 348

The deferred tax provision arises from future tax payable in respect of capital allowances claimed in excess of depreciation.