smallAccCompHo_0921.xslt
Company Registration No. 13314700 (England and Wales)
MERIDIAN MEDIA LIMITED
Financial Statements
for the Period from 01 January 2022 to 31 December 2022

MERIDIAN MEDIA LIMITED

Financial Statements for the period ending 31 December 2022

MERIDIAN MEDIA LIMITED

Financial Statements for the period ending 31 December 2022

Notes to the Accounts

1. Statutory Information
MERIDIAN MEDIA LIMITED is a private company, limited by shares, registered in England and Wales, registration number 13314700.
2. Accounting Policies
Basis of preparing the Financial Statements
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities.
Presentation Currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.Turnover for Meridian Media Limited for this period was 100% from the USA.

MERIDIAN MEDIA LIMITED

Financial Statements for the period ending 31 December 2022

Notes to the Accounts

Current Tax
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. Current or deferred tax assets and liabilities are not discounted. Current tax is recognised as the amount of tax payable using the tax rates and laws that have been enacted or substantially enacted by the balance sheet date.

MERIDIAN MEDIA LIMITED

Financial Statements for the period ending 31 December 2022

Notes to the Accounts

3. Employees
Average number of employees, including directors, during the year was as follows:
2022 1
2021 2
4. Principal Activity
Meridian Medial Limited provides strategic consulting to companies in the media industry. As its existing client base in the Middle East, this is primarily carried out through its Dubai branch.

MERIDIAN MEDIA LIMITED

Financial Statements for the period ending 31 December 2022

Notes to the Accounts

5. Debtors
2022 2021
£ £
Trade debtors - 757,002
Other debtors 9,798,528 3,532,723
9,798,528 4,289,725
Debtors Notes
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
6. Creditors: amount falling due within one year
2022 2021
£ £
Corporation Tax (37,624) 212,376
Other Creditors 6,979 -
(30,645) 212,376
Creditors Due within one year
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

MERIDIAN MEDIA LIMITED

Financial Statements for the period ending 31 December 2022

Notes to the Accounts

7. Directors advances, Credits and Guarantees
Meridian Media Limited agreed to make a short-term loan of £2,865,990 to a director subject to interest on the outstanding loan amount at the rate of 2% a year. The interest on this loan for the period ended 31st December 2022 is £70,067 which is also added to the debtor's figure. This loan was repaid on 30.09.23.
8. Additional Notes
8.1 Critical accounting judgment and key sources of estimation uncertainty-In the application of the company's accounting policies, the directors are required to make judgments, estimates, and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.8.2 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 and loans from related parties.8.3 Ultimate controlling party-The company is a wholly-owned subsidiary of Meridian Media Holdings Limited, a UK-incorporated company with its registered address at 167-169 Great Portland Street, Fifth Floor, London, W1W 5PF. The company is under the ultimate control of Mr. Aljumaily by virtue of his indirect controlling shareholding in the company.8.3 Branch exemptionWe have determined "relevant profits" of the exempt permanent establishment of the Company by attributing the profits to the permanent establishment in accordance with the UK-UAE tax treaty and on a distinct and separate enterprise basis