Caseware UK (AP4) 2022.0.179 2022.0.179 2022-12-312022-12-31No description of principal activityfalseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2022-01-0177truetrue 12710287 2022-01-01 2022-12-31 12710287 2021-01-01 2021-12-31 12710287 2022-12-31 12710287 2021-12-31 12710287 c:Director3 2022-01-01 2022-12-31 12710287 d:PlantMachinery 2022-01-01 2022-12-31 12710287 d:PlantMachinery 2022-12-31 12710287 d:PlantMachinery 2021-12-31 12710287 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 12710287 d:OfficeEquipment 2022-01-01 2022-12-31 12710287 d:OfficeEquipment 2022-12-31 12710287 d:OfficeEquipment 2021-12-31 12710287 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 12710287 d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 12710287 d:ComputerSoftware 2022-12-31 12710287 d:ComputerSoftware 2021-12-31 12710287 d:CurrentFinancialInstruments 2022-12-31 12710287 d:CurrentFinancialInstruments 2021-12-31 12710287 d:Non-currentFinancialInstruments 2022-12-31 12710287 d:Non-currentFinancialInstruments 2021-12-31 12710287 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 12710287 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 12710287 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 12710287 d:Non-currentFinancialInstruments d:AfterOneYear 2021-12-31 12710287 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-12-31 12710287 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2021-12-31 12710287 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-12-31 12710287 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2021-12-31 12710287 d:ShareCapital 2022-12-31 12710287 d:ShareCapital 2021-12-31 12710287 d:OtherMiscellaneousReserve 2022-12-31 12710287 d:OtherMiscellaneousReserve 2021-12-31 12710287 d:RetainedEarningsAccumulatedLosses 2022-12-31 12710287 d:RetainedEarningsAccumulatedLosses 2021-12-31 12710287 c:OrdinaryShareClass1 2022-01-01 2022-12-31 12710287 c:OrdinaryShareClass1 2022-12-31 12710287 c:OrdinaryShareClass1 2021-12-31 12710287 c:FRS102 2022-01-01 2022-12-31 12710287 c:AuditExempt-NoAccountantsReport 2022-01-01 2022-12-31 12710287 c:FullAccounts 2022-01-01 2022-12-31 12710287 c:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 12710287 d:HirePurchaseContracts d:WithinOneYear 2022-12-31 12710287 d:HirePurchaseContracts d:WithinOneYear 2021-12-31 12710287 d:HirePurchaseContracts d:BetweenOneFiveYears 2022-12-31 12710287 d:HirePurchaseContracts d:BetweenOneFiveYears 2021-12-31 12710287 d:ComputerSoftware d:ExternallyAcquiredIntangibleAssets 2022-01-01 2022-12-31 12710287 d:ComputerSoftware d:OwnedIntangibleAssets 2022-01-01 2022-12-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 12710287










MASS MEDIA OUTDOOR LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2022



 
MASS MEDIA OUTDOOR LIMITED
REGISTERED NUMBER: 12710287

BALANCE SHEET
AS AT 31 DECEMBER 2022

2022
2021
Note
£
£

Fixed assets
  

Intangible assets
 4 
2,828
5,202

Tangible assets
 5 
248,693
132,512

  
251,521
137,714

Current assets
  

Debtors: amounts falling due within one year
 6 
373,254
203,809

Cash at bank and in hand
 7 
180
62,878

  
373,434
266,687

Current liabilities
  

Creditors: amounts falling due within one year
 8 
(357,543)
(253,147)

Net current assets
  
 
 
15,891
 
 
13,540

Total assets less current liabilities
  
267,412
151,254

Creditors: amounts falling due after more than one year
 9 
(683,885)
(605,696)

Net liabilities
  
(416,473)
(454,442)


Capital and reserves
  

Called up share capital 
 12 
10,000
10,000

Other reserves
  
130,219
100,219

Profit and loss account
  
(556,692)
(564,661)

  
(416,473)
(454,442)


Page 1

 
MASS MEDIA OUTDOOR LIMITED
REGISTERED NUMBER: 12710287

BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2022

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.

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 by: 




M Lambresa
Director
Date: 5 October 2023

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
MASS MEDIA OUTDOOR LIMITED
 

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

1.


General information

Mass Media Outdoor Limited is a limited liability company incorporated in England and Wales. The registered office address is Quadrant House, 20 Broad Street Mall, Reading, RG1 7QE.

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

Going concern

The directors remain confident that sufficient funding is in place and that the company has adequate resources to enable the company to continue as a going concern for the foreseeable future.  

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

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.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
MASS MEDIA OUTDOOR LIMITED
 

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

2.Accounting policies (continued)

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

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.

 
2.5

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.

 
2.6

Pensions

Defined contribution pension plan

The Company operates 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 Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
MASS MEDIA OUTDOOR LIMITED
 

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

2.Accounting policies (continued)

 
2.7

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 balance sheet 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 balance sheet 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 balance sheet date.

 
2.8

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
15%
straight-line method
Office equipment
-
25%
straight-line method

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.

Page 5

 
MASS MEDIA OUTDOOR LIMITED
 

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

2.Accounting policies (continued)

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.13

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares. 


3.


Employees

The average monthly number of employees, including directors, during the year was 7 (2021 - 7).

Page 6

 
MASS MEDIA OUTDOOR LIMITED
 

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

4.


Intangible assets




Website

£



Cost


At 1 January 2022
9,475


Additions
1,500



At 31 December 2022

10,975



Amortisation


At 1 January 2022
4,273


Charge for the year on owned assets
3,874



At 31 December 2022

8,147



Net book value



At 31 December 2022
2,828



At 31 December 2021
5,202



Page 7

 
MASS MEDIA OUTDOOR LIMITED
 

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

5.


Tangible fixed assets





Plant and machinery
Office equipment
Total

£
£
£



Cost or valuation


At 1 January 2022
142,889
14,362
157,251


Additions
147,866
1,768
149,634



At 31 December 2022

290,755
16,130
306,885



Depreciation


At 1 January 2022
22,374
2,365
24,739


Charge for the year on owned assets
29,422
4,031
33,453



At 31 December 2022

51,796
6,396
58,192



Net book value



At 31 December 2022
238,959
9,734
248,693



At 31 December 2021
120,515
11,997
132,512


6.


Debtors

2022
2021
£
£


Trade debtors
263,306
191,233

Other debtors
15,312
12,576

Prepayments and accrued income
68,369
-

Deferred taxation
26,267
-

373,254
203,809



7.


Cash and cash equivalents

2022
2021
£
£

Cash at bank and in hand
180
62,878

Less: bank overdrafts
(3,957)
-

(3,777)
62,878


Page 8

 
MASS MEDIA OUTDOOR LIMITED
 

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

8.


Creditors: amounts falling due within one year

2022
2021
£
£

Bank overdrafts
3,957
-

Bank loans
100,564
66,666

Trade creditors
136,870
67,631

Other taxation and social security
43,555
46,383

Obligations under finance lease and hire purchase contracts
33,837
-

Other creditors
32,715
3,751

Accruals and deferred income
6,045
68,716

357,543
253,147



9.


Creditors: amounts falling due after more than one year

2022
2021
£
£

Bank loans
169,409
233,334

Net obligations under finance leases and hire purchase contracts
39,058
-

Other creditors
475,418
372,362

683,885
605,696



10.


Loans


Analysis of the maturity of loans is given below:


2022
2021
£
£

Amounts falling due within one year

Amounts falling due within one year
100,564
66,666

Amounts falling due 1-2 years
66,667
66,667

Amounts falling due 2-5 years
102,742
166,667

269,973
300,000


Security for the bank loan is held in the form of a debenture over all assets of the Company and a personal guarantee from the Directors of the Company.

Page 9

 
MASS MEDIA OUTDOOR LIMITED
 

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

11.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2022
2021
£
£


Within one year
33,837
-

Between 1-5 years
39,058
-

72,895
-

The hire purchase contracts are secured over the assets to which they relate.


12.


Share capital

2022
2021
£
£
Allotted, called up and fully paid



10,000 (2021 - 10,000) Ordinary shares of £1.00 each
10,000
10,000



13.


Pension commitments

The Company operates a defined contribution pension scheme. The assets of the scheme are held seperately 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 £3,921 (2021: £16,843). There were contributions payable £1,347 (2021: £1,881), to the fund at the balance sheet date.


Page 10