Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31true92022-04-01falsePrinciple activity7falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 11264555 2022-04-01 2023-03-31 11264555 2021-04-01 2022-03-31 11264555 2023-03-31 11264555 2022-03-31 11264555 c:Director1 2022-04-01 2023-03-31 11264555 d:PlantMachinery 2022-04-01 2023-03-31 11264555 d:FurnitureFittings 2022-04-01 2023-03-31 11264555 d:FurnitureFittings 2023-03-31 11264555 d:FurnitureFittings 2022-03-31 11264555 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 11264555 d:ComputerEquipment 2022-04-01 2023-03-31 11264555 d:ComputerEquipment 2023-03-31 11264555 d:ComputerEquipment 2022-03-31 11264555 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 11264555 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 11264555 d:CurrentFinancialInstruments 2023-03-31 11264555 d:CurrentFinancialInstruments 2022-03-31 11264555 d:Non-currentFinancialInstruments 2023-03-31 11264555 d:Non-currentFinancialInstruments 2022-03-31 11264555 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 11264555 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 11264555 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 11264555 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 11264555 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 11264555 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-03-31 11264555 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 11264555 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-03-31 11264555 d:ShareCapital 2023-03-31 11264555 d:ShareCapital 2022-03-31 11264555 d:RetainedEarningsAccumulatedLosses 2023-03-31 11264555 d:RetainedEarningsAccumulatedLosses 2022-03-31 11264555 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 11264555 d:AcceleratedTaxDepreciationDeferredTax 2022-03-31 11264555 c:OrdinaryShareClass1 2022-04-01 2023-03-31 11264555 c:OrdinaryShareClass1 2023-03-31 11264555 c:FRS102 2022-04-01 2023-03-31 11264555 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 11264555 c:FullAccounts 2022-04-01 2023-03-31 11264555 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 11264555 d:WithinOneYear 2023-03-31 11264555 d:WithinOneYear 2022-03-31 11264555 2 2022-04-01 2023-03-31 iso4217:GBP xbrli:shares xbrli:pure
Registered number: 11264555














MOVEDIA LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

 
MOVEDIA LIMITED
 

CONTENTS



Page
Statement of Financial Position
 
1 - 2
Notes to the Financial Statements
 
3 - 9


 
MOVEDIA LIMITED
REGISTERED NUMBER:11264555

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
49,537
21,345

Current assets
  

Debtors: amounts falling due within one year
 5 
556,040
89,634

Bank and cash balances
  
348,327
407,211

  
904,367
496,845

Current liabilities
  

Creditors: amounts falling due within one year
 6 
(279,142)
(183,340)

Net current assets
  
 
 
625,225
 
 
313,505

Total assets less current liabilities
  
674,762
334,850

Creditors: amounts falling due after more than one year
 7 
(26,612)
(36,461)

Provisions for liabilities
  

Deferred tax
 9 
(9,412)
(4,067)

Net assets
  
638,738
294,322


Capital and reserves
  

Called up share capital 
 10 
2
2

Profit and loss account
  
638,736
294,320

  
638,738
294,322


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

Page 1

 
MOVEDIA LIMITED
REGISTERED NUMBER:11264555
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2023

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 3 October 2023.




K A Adams
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
MOVEDIA LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Movedia Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is 5 Elstree Gate, Elstree Way, Borehamwood, Hertfordshire WD6 1JD.
The principle activity of the company during the year was that of motions pictures, video and television programme post-production activities. 
The company's functional and presentational currency is £ sterling.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is £ sterling.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Page 3

 
MOVEDIA LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.3

Revenue

Turnover comprises revenue recognised by the company in respect of services supplied during the year, exclusive of Value Added Tax.
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.



 
2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102.
Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Pensions

The Company contributes to a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.8

Dividends

Equity dividends are recognised when they become legally payable.

Page 4

 
MOVEDIA LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.9

Tangible fixed assets

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.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.


Plant and machinery
-
25% reducing balance
Computer equipment
-
25% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Basic financial instruments

The company only enters into transactions that result in basic financial instruments such as trade and
other debtors, trade and other creditors, cash and cash equivalents, and loans to or from related
parties.
Trade debtors, other debtors and loans to related parties are recognised initially at the transaction
price less attributable transactions costs. Trade creditors, other creditors and loans from related
parties are recognised initially at transaction price plus attributable costs. Subsequently they are
measured at amortised cost using the effective interest method, less any impairment losses in the
case of trade and other debtors, and loans to related parties.
Cash and cash equivalents comprise cash balances and call deposits.

Page 5

 
MOVEDIA LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.11

Current and deferred taxation

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

The current income 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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


3.


Employees

The average monthly number of employees, including directors, during the year was 9 (2022 - 7).

Page 6

 
MOVEDIA LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


Tangible fixed assets





Plant and machinery
Computer equipment
Total

£
£
£



Cost


At 1 April 2022
25,321
13,153
38,474


Additions
2,578
39,639
42,217



At 31 March 2023

27,899
52,792
80,691



Depreciation


At 1 April 2022
13,840
3,289
17,129


Charge for the year on owned assets
3,514
10,511
14,025



At 31 March 2023

17,354
13,800
31,154



Net book value



At 31 March 2023
10,545
38,992
49,537



At 31 March 2022
11,481
9,864
21,345


5.


Debtors

2023
2022
£
£


Trade debtors
508,887
55,617

Other debtors
30,685
13,347

Prepayments and accrued income
16,468
20,670

556,040
89,634


Page 7

 
MOVEDIA LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
9,849
9,606

Trade creditors
110,385
102,754

Other taxation and social security
100,756
54,269

Other creditors
7,979
4,749

Accruals and deferred income
50,173
11,962

279,142
183,340



7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
26,612
36,461



8.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
9,849
9,606

Amounts falling due 1-2 years

Bank loans
10,098
9,849

Amounts falling due 2-5 years

Bank loans
16,514
26,612


36,461
46,067


Page 8

 
MOVEDIA LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

9.


Deferred taxation




2023


£






At beginning of year
4,067


Charged to profit or loss
5,345



At end of year
9,412

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
9,412
4,067


10.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



2 Ordinary shares  of £1.00 each
2
2



11.


Pension commitments

The Company contributes to a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £6,925 (2022 - £3,980) . Contributions totalling £nil (2022 - £nil) were payable to the fund at the reporting date and are included in creditors.


12.


Commitments under operating leases

At 31 March 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
12,600
-

12,600
-

 
Page 9