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REGISTERED NUMBER: 06637145 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 December 2021

for

SLEEPER MEDIA LIMITED

SLEEPER MEDIA LIMITED (REGISTERED NUMBER: 06637145)

Contents of the Financial Statements
for the year ended 31 December 2021










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


SLEEPER MEDIA LIMITED

Company Information
for the year ended 31 December 2021







Directors: A J Giles
D S Walsh
M W Turner





Registered office: Waterloo Place
Watson Square
Stockport
Cheshire
SK1 3AZ





Registered number: 06637145 (England and Wales)





Accountants: Haines Watts Manchester Limited
Northern Assurance Buildings
9-21 Princess Street
Manchester
M2 4DN

SLEEPER MEDIA LIMITED (REGISTERED NUMBER: 06637145)

Statement of Financial Position
31 December 2021

2021 2020
Notes £ £ £ £
Fixed assets
Intangible assets 5 88,617 102,237
Investments 6 1,169,142 1,169,142
1,257,759 1,271,379

Current assets
Debtors 7 510,498 296,187
Cash at bank 93,441 119,668
603,939 415,855
Creditors
Amounts falling due within one year 8 787,231 593,092
Net current liabilities (183,292 ) (177,237 )
Total assets less current liabilities 1,074,467 1,094,142

Capital and reserves
Called up share capital 9 315,790 315,790
Share premium 134,215 134,215
Retained earnings 624,462 644,137
Shareholders' funds 1,074,467 1,094,142

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

SLEEPER MEDIA LIMITED (REGISTERED NUMBER: 06637145)

Statement of Financial Position - continued
31 December 2021


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

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 September 2022 and were signed on its behalf by:





A J Giles - Director


SLEEPER MEDIA LIMITED (REGISTERED NUMBER: 06637145)

Notes to the Financial Statements
for the year ended 31 December 2021


1. Statutory information

Sleeper Media 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. Statement of compliance

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

3. Accounting policies

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Going concern
The company is dependent, in the absence of other funding, on the continued financial support from it's parent company. The parent company has confirmed its commitment to provide the necessary support by providing adequate facilities.

On that basis the directors consider it appropriate to prepare the financial statements on a going concern basis.

Preparation of consolidated financial statements
The financial statements contain information about Sleeper Media Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Significant judgements and estimates
In preparing these financial statements, the directors have had to make the following judgements:

Determine whether there are indicators of impairment of the company's investments and intangible assets, including goodwill. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset and where it is a component of a larger cash-generating unit, the viability and expected future performance of that unit.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Advertising revenue is recognised upon publication of the magazine.

Subscription revenue is recognised in full upon invoice.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Brands are being amortised evenly over their estimated useful life of six years.

Investments in subsidiaries and associates
Investments in subsidiary and associate undertakings are recognised at cost.

SLEEPER MEDIA LIMITED (REGISTERED NUMBER: 06637145)

Notes to the Financial Statements - continued
for the year ended 31 December 2021


3. Accounting policies - continued

Financial instruments
The company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments.

(i) Financial assets

Basic financial assets, including trade and other debtors and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

(ii) Financial liabilities

Basic financial liabilities, including trade and other creditors that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is
measured at the present value of the future receipts discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4. Employees and directors

The average number of employees during the year was 20 (2020 - 13 ) .

SLEEPER MEDIA LIMITED (REGISTERED NUMBER: 06637145)

Notes to the Financial Statements - continued
for the year ended 31 December 2021


5. Intangible fixed assets
Other
intangible
Goodwill assets Totals
£ £ £
Cost
At 1 January 2021
and 31 December 2021 272,500 245,655 518,155
Amortisation
At 1 January 2021 170,263 245,655 415,918
Charge for year 13,620 - 13,620
At 31 December 2021 183,883 245,655 429,538
Net book value
At 31 December 2021 88,617 - 88,617
At 31 December 2020 102,237 - 102,237

6. Fixed asset investments

Subsidiary undertakings

The following was a subsidiary undertaking of the company:

Name Class of shares Holding Principle activity
Innspec Digital Limited Ordinary 80% Dormant Company
Sleeper Sessions Limited Ordinary 80% Publishing

The registered office of both of the above is Waterloo Place, Watson Square, Stockport, United Kingdom, SK1 3AZ.

Associated undertakings

The following was an associated undertaking of the company:

Name Class of shares Holding Principle activity
Tophotelprojects GmbH Ordinary 40% Publishing

Tophotelprojects GmbH is a German limited liability company registered in Rotenburg, Germany.

7. Debtors
2021 2020
£ £
Amounts falling due within one year:
Trade debtors 147,940 179,466
Amounts owed by associates 41,862 42,934
Other debtors 70,696 73,787
260,498 296,187

SLEEPER MEDIA LIMITED (REGISTERED NUMBER: 06637145)

Notes to the Financial Statements - continued
for the year ended 31 December 2021


7. Debtors - continued
2021 2020
£ £
Amounts falling due after more than one year:
Amounts owed by group undertakings 250,000 -

Aggregate amounts 510,498 296,187

8. Creditors: amounts falling due within one year
2021 2020
£ £
Trade creditors 24,337 64,716
Amounts owed to group undertakings 528,369 189,592
Corporation tax 49,377 32,254
Other creditors 35,349 35,367
Accruals and deferred income 149,799 271,163
787,231 593,092

9. Called up share capital


Allotted, issued and fully paid:
Number: Class: Nominal 2021 2020
value: £ £
300,000 Ordinary £1 315,790 315,790

10. Related party disclosures

At year end, included in amounts owed to group undertakings was £279,221 which related to loans owed to the parent entity. These loans were repayable on demand and charged interest of 2.75% and 1.5%.

The company also gave a loan of £250,000 to a subsidiary company. Annual interest has been charged of 1.50% and the loan is due to be repaid in full in 3 years. The amount due greater than one year as at the balance sheet date was £250,000.

At the year end, the company had loan owed by an associate amounting to £41,862. This loan was interest free and repayable on demand.

11. Ultimate parent undertaking and controlling party

The immediate and ultimate parent undertaking of the company is Mondiale Media Limited, incorporated in England and Wales. Their registered office is Waterloo Place, Watson Square, Stockport, SK1 3AZ.

Mondiale Media is controlled by D S Walsh by virtue of his majority shareholdings in the ultimate parent company.