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REGISTERED NUMBER: 05359572 (England and Wales)














Unaudited Financial Statements

for the Year Ended 28 February 2023

for

ENCODED MEDIA (UK) LIMITED

ENCODED MEDIA (UK) LIMITED (REGISTERED NUMBER: 05359572)

Contents of the Financial Statements
for the year ended 28 February 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


ENCODED MEDIA (UK) LIMITED

Company Information
for the year ended 28 February 2023







Directors: Mr T Sillence
Mr P J Wand





Secretary: Mr P J Wand





Registered office: Juniper House
Warley Hill Business Park
The Drive
Brentwood
Essex
CM13 3BE





Registered number: 05359572 (England and Wales)





Accountants: Cooper Parry Advisory Limited
Juniper House
Warley Hill Business Park
The Drive
Brentwood
Essex
CM13 3BE

ENCODED MEDIA (UK) LIMITED (REGISTERED NUMBER: 05359572)

Statement of Financial Position
28 February 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Tangible assets 4 62,176 41,485

Current assets
Stock 16,055 20,456
Debtors 5 144,673 58,244
Cash at bank 57,611 188,202
218,339 266,902
Creditors
Amounts falling due within one year 6 168,997 184,397
Net current assets 49,342 82,505
Total assets less current liabilities 111,518 123,990

Creditors
Amounts falling due after more than one
year

7

(58,758

)

(68,758

)

Provisions for liabilities 9 (5,097 ) (4,809 )
Net assets 47,663 50,423

Capital and reserves
Called up share capital 10 300 300
Retained earnings 11 47,363 50,123
Shareholders' funds 47,663 50,423

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 November 2023 and were signed on its behalf by:



Mr P J Wand - Director


ENCODED MEDIA (UK) LIMITED (REGISTERED NUMBER: 05359572)

Notes to the Financial Statements
for the year ended 28 February 2023


1. Statutory information

Encoded Media (UK) 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Key source of estimation, uncertainty and judgement
The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period.

There is estimation uncertainty in calculating depreciation. A full line by line review of fixed assets is carried out by management regularly. Whilst every attempt is made to ensure that the depreciation policy is as accurate as possible, there remains a risk that the policy does not match the useful life of the assets.

There is estimation uncertainty in calculating deferred tax. A full line by line review of deferred tax is carried out by management regularly. Whilst every attempt is made to ensure that the deferred tax is accurate as possible, there remains a risk that the provisions do not match the actual tax liability when asset is disposed off.

There is estimation uncertainty in calculating bad debt provisions. A full line by line review of trade debtors is carried out at the end of each month. Whilst every attempt is made to ensure that the bad debt provisions are as accurate as possible, there remains a risk that the provisions do not match the level of debts which ultimately prove to be uncollectable.

Turnover
Turnover represents services invoiced, excluding any deferred income and value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Office equipment - 25% on cost
Motor vehicles - 20% on cost
Computer equipment - 25% on cost

Stock
The stock is valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items.

ENCODED MEDIA (UK) LIMITED (REGISTERED NUMBER: 05359572)

Notes to the Financial Statements - continued
for the year ended 28 February 2023


2. Accounting policies - continued

Financial instruments
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Research and development
Expenditure on research and development is expensed through the profit and loss account when it is incurred.

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 2 (2022 - 2 ) .

ENCODED MEDIA (UK) LIMITED (REGISTERED NUMBER: 05359572)

Notes to the Financial Statements - continued
for the year ended 28 February 2023


4. Tangible fixed assets
Office Motor Computer
equipment vehicles equipment Totals
£    £    £    £   
Cost
At 1 March 2022 82,789 25,730 54,956 163,475
Additions 2,390 33,599 3,262 39,251
At 28 February 2023 85,179 59,329 58,218 202,726
Depreciation
At 1 March 2022 65,799 9,863 46,328 121,990
Charge for year 7,122 6,706 4,732 18,560
At 28 February 2023 72,921 16,569 51,060 140,550
Net book value
At 28 February 2023 12,258 42,760 7,158 62,176
At 28 February 2022 16,990 15,867 8,628 41,485

5. Debtors: amounts falling due within one year
2023 2022
£    £   
Trade debtors 138,314 53,755
Other debtors 6,359 4,489
144,673 58,244

6. Creditors: amounts falling due within one year
2023 2022
£    £   
Bank loans and overdrafts (see note 8) 10,000 10,000
Trade creditors 1,845 4,447
Taxation and social security 51,736 50,166
Other creditors 105,416 119,784
168,997 184,397

7. Creditors: amounts falling due after more than one year
2023 2022
£    £   
Bank loans (see note 8) 27,500 37,500
Other creditors 31,258 31,258
58,758 68,758

8. Loans

The bank loan is repayable by equal monthly instalments over five years commencing December 2021.

9. Provisions for liabilities
2023 2022
£    £   
Deferred tax 5,097 4,809

ENCODED MEDIA (UK) LIMITED (REGISTERED NUMBER: 05359572)

Notes to the Financial Statements - continued
for the year ended 28 February 2023


9. Provisions for liabilities - continued

Deferred
tax
£   
Balance at 1 March 2022 4,809
Provided during year 288
Balance at 28 February 2023 5,097

10. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
300 Ordinary £1 Shares 1 300 300

11. Reserves
Retained
earnings
£   

At 1 March 2022 50,123
Profit for the year 97,240
Dividends (100,000 )
At 28 February 2023 47,363