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Registration number: 10130954

Allied Media Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2023

 

Allied Media Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 13

 

Allied Media Limited

Company Information

Director

Mr C W Ling

Registered office

Unit G1 Langdale House
Marshalsea Road
London
SE1 1EN

Accountants

First Class Accounting Limited
91A Church Lane
Bulphan
Upminster
RM14 3TR

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Allied Media Limited
for the Year Ended 30 April 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Allied Media Limited for the year ended 30 April 2023 as set out on pages 3 to 13 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Director of Allied Media Limited in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Allied Media Limited and state those matters that we have agreed to state to the Director of Allied Media Limited in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Allied Media Limited and its Director for our work or for this report.

It is your duty to ensure that Allied Media Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Allied Media Limited. You consider that Allied Media Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Allied Media Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

First Class Accounting Limited
91A Church Lane
Bulphan
Upminster
RM14 3TR

24 October 2023

 

Allied Media Limited

(Registration number: 10130954)
Balance Sheet as at 30 April 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

12,287

19,378

Current assets

 

Debtors

5

693,525

406,674

Cash at bank and in hand

 

362,977

298,475

 

1,056,502

705,149

Creditors: Amounts falling due within one year

6

(375,256)

(267,551)

Net current assets

 

681,246

437,598

Total assets less current liabilities

 

693,533

456,976

Provisions for liabilities

(3,256)

(3,682)

Net assets

 

690,277

453,294

Capital and reserves

 

Called up share capital

7

10,000

10,000

Retained earnings

680,277

443,294

Shareholders' funds

 

690,277

453,294

For the financial year ending 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

 

Allied Media Limited

(Registration number: 10130954)
Balance Sheet as at 30 April 2023

Approved and authorised by the director on 24 October 2023
 

.........................................
Mr C W Ling
Director

 

Allied Media Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit G1 Langdale House
Marshalsea Road
London
SE1 1EN

These financial statements were authorised for issue by the director on 24 October 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

 

Allied Media Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

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

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 taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Allied Media Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture and fittings

33% straight line

Motor vehicles

20% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Allied Media Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 5 (2022 - 5).

 

Allied Media Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2022

7,428

30,000

37,428

Additions

430

-

430

At 30 April 2023

7,858

30,000

37,858

Depreciation

At 1 May 2022

6,050

12,000

18,050

Charge for the year

1,521

6,000

7,521

At 30 April 2023

7,571

18,000

25,571

Carrying amount

At 30 April 2023

287

12,000

12,287

At 30 April 2022

1,378

18,000

19,378

5

Debtors

Current

2023
£

2022
£

Trade debtors

439,774

230,681

Other debtors

253,751

175,993

 

693,525

406,674

 

Allied Media Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

285,474

185,214

Taxation and social security

58,293

20,503

Accruals and deferred income

1,000

38,773

Other creditors

30,489

23,061

375,256

267,551

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

'A' Ordinary shares of £1 each of £1 each

5,000

5,000

5,000

5,000

'B' Ordinary shares of £1 each of £1 each

5,000

5,000

5,000

5,000

 

10,000

10,000

10,000

10,000

 

Allied Media Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

8

Dividends

Interim dividends paid

   

2023
£

 

2022
£

Interim dividend of £7.25 (2022 - £6.20) per each 'A' Ordinary shares

 

36,250

 

31,000

Interim dividend of £Nil per each 'B' Ordinary shares

 

-

 

-

   

36,250

 

31,000

9

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £Nil (2022 - £12,100).

 

Allied Media Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

10

Related party transactions

Key management compensation

2023
£

2022
£

Salaries and other short term employee benefits

8,865

8,844

Post-employment benefits

441

439

9,306

9,283

Summary of transactions with other related parties

Allied Media Properties Limited
 Interest free loan
 

Loans to related parties

2023

Other related parties
£

Total
£

At start of period

175,991

175,991

Advanced

74,009

74,009

At end of period

250,000

250,000

2022

Other related parties
£

Total
£

At start of period

150,991

150,991

Advanced

25,000

25,000

At end of period

175,991

175,991

Loans from related parties

2023

Key management
£

Total
£

At start of period

22,500

22,500

At end of period

22,500

22,500

 

Allied Media Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

2022

Key management
£

Total
£

At start of period

36,500

36,500

Repaid

(14,000)

(14,000)

At end of period

22,500

22,500