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THE LEISURE MEDIA COMPANY LIMITED

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31ST DECEMBER 2022






THE LEISURE MEDIA COMPANY LIMITED (REGISTERED NUMBER: 02135800)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


THE LEISURE MEDIA COMPANY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2022







DIRECTOR: E J Terry



REGISTERED OFFICE: 69 Knowl Piece
Wilbury Way
Hitchin
Hertfordshire
SG4 0TY



REGISTERED NUMBER: 02135800 (England and Wales)



SENIOR STATUTORY AUDITOR: Alberto Di Lorenzo FCA



AUDITORS: HW East Midlands Audit LLP
Statutory Auditors
Woburn Court, 2 Railton Rd
Woburn Road Ind Est
Kempston
Bedfordshire
MK42 7PN

THE LEISURE MEDIA COMPANY LIMITED (REGISTERED NUMBER: 02135800)

BALANCE SHEET
31ST DECEMBER 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 20,423 -

CURRENT ASSETS
Stocks 5 1,000 1,000
Debtors 6 260,583 210,739
Cash at bank and in hand 298,012 326,060
559,595 537,799
CREDITORS
Amounts falling due within one year 7 268,577 264,763
NET CURRENT ASSETS 291,018 273,036
TOTAL ASSETS LESS CURRENT
LIABILITIES

311,441

273,036

CREDITORS
Amounts falling due after more than one year 8 (89,147 ) (124,975 )

PROVISIONS FOR LIABILITIES (5,106 ) -
NET ASSETS 217,188 148,061

CAPITAL AND RESERVES
Called up share capital 22,138 22,138
Retained earnings 195,050 125,923
SHAREHOLDERS' FUNDS 217,188 148,061

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 LEISURE MEDIA COMPANY LIMITED (REGISTERED NUMBER: 02135800)

BALANCE SHEET - continued
31ST DECEMBER 2022



The financial statements were approved by the director and authorised for issue on 29th September 2023 and were signed by:





E J Terry - Director


THE LEISURE MEDIA COMPANY LIMITED (REGISTERED NUMBER: 02135800)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2022

1. STATUTORY INFORMATION

The Leisure Media Company 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 preparing the financial statements
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. 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 £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Turnover
Turnover represents net invoiced sales of advertising space, magazine subscriptions and ancillary services, excluding value added tax. Invoiced sales are deferred where the services provided to the customer have not yet been supplied. Deferred income is released as turnover n the period in which the service is supplied.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 25% on cost
Computer equipment - 33% on cost

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Taxation
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


THE LEISURE MEDIA COMPANY LIMITED (REGISTERED NUMBER: 02135800)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2022

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2021 - 12 ) .

4. TANGIBLE FIXED ASSETS
Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1st January 2022 33,433 - 33,433
Additions - 22,131 22,131
At 31st December 2022 33,433 22,131 55,564
DEPRECIATION
At 1st January 2022 33,433 - 33,433
Charge for year - 1,708 1,708
At 31st December 2022 33,433 1,708 35,141
NET BOOK VALUE
At 31st December 2022 - 20,423 20,423
At 31st December 2021 - - -

THE LEISURE MEDIA COMPANY LIMITED (REGISTERED NUMBER: 02135800)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2022

5. STOCKS
2022 2021
£    £   
Stocks 1,000 1,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 129,561 149,061
Amounts owed by participating interests 74,944 32,944
Other debtors 17,068 199
Directors' current accounts - 5
Tax 10,477 10,477
Prepayments and accrued income 28,533 18,053
260,583 210,739

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts (see note 9) 29,738 28,486
Trade creditors 60,368 63,020
Social security and other taxes 32,759 52,273
VAT 17,683 24,007
Other creditors 24,125 7,393
Subscriptions in advance 61,752 40,165
Directors' current accounts 3,112 -
Accrued expenses 39,040 49,419
268,577 264,763

Security is provided to the company's bankers, Barclays Bank Plc by a deed of charge over debtors registered 12th March 1997.

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2022 2021
£    £   
Bank loans (CIBLS) (see note 9) 89,147 124,975

9. LOANS

An analysis of the maturity of loans is given below:

2022 2021
£    £   
Amounts falling due within one year or on demand:
Bank loans (CIBLS) 29,738 28,486

THE LEISURE MEDIA COMPANY LIMITED (REGISTERED NUMBER: 02135800)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2022

9. LOANS - continued
2022 2021
£    £   
Amounts falling due between two and five years:
Bank loans - 2-5 years (CIBLS) 89,147 124,975

The bank loan with Barclays has a floating interest rate with a margin of 3.39%. The loan maturity date is July 2026.

10. SECURED DEBTS

The following secured debts are included within creditors:

2022 2021
£    £   
Bank loans (CIBLS) 118,885 153,461

Barclays registered a fixed and floating charge in September 2020 over all property or undertaking of the company.

11. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Alberto Di Lorenzo FCA (Senior Statutory Auditor)
for and on behalf of HW East Midlands Audit LLP

12. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st December 2022 and 31st December 2021:

2022 2021
£    £   
E J Terry
Balance outstanding at start of year 5 -
Amounts advanced - 5
Amounts repaid (5 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 5

THE LEISURE MEDIA COMPANY LIMITED (REGISTERED NUMBER: 02135800)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2022

13. RELATED PARTY DISCLOSURES

At the balance sheet date, included within debtors, is the following non interest bearing loan made to a related company:

31/12/22 31/12/21
£    £   
Cybertrek Limited 74,944 32,944

During the year, management fees totalling £10,200 (2021: £10,020) and royalties of £14,200 (2021: £24,000) were also paid to the company. Licences fees totalling £49,650 (2021:£82,518l) were paid to Leisure Media Global Limited, another related company.