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REGISTERED NUMBER: 03328177 (England and Wales)















AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

E3 MEDIA LIMITED
T/A
GREAT STATE

E3 MEDIA LIMITED (REGISTERED NUMBER: 03328177)
T/A GREAT STATE






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


E3 MEDIA LIMITED
T/A GREAT STATE

COMPANY INFORMATION
for the Year Ended 31 MARCH 2023







DIRECTORS: K S Avery
M D Bennett
Mrs V L James





SECRETARY: K S Avery





REGISTERED OFFICE: Runway East
1 Victoria Street
Redcliffe
Bristol
BS1 6AA





REGISTERED NUMBER: 03328177 (England and Wales)





AUDITORS: Burnside
Chartered Accountants
and Statutory Auditor
61 Queen Square
Bristol
BS1 4JZ

E3 MEDIA LIMITED (REGISTERED NUMBER: 03328177)
T/A GREAT STATE

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 84,072 26,025

CURRENT ASSETS
Debtors 5 3,956,799 3,220,793
Cash at bank 1,139,327 1,099,869
5,096,126 4,320,662
CREDITORS
Amounts falling due within one year 6 2,181,773 1,770,713
NET CURRENT ASSETS 2,914,353 2,549,949
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,998,425

2,575,974

CREDITORS
Amounts falling due after more than one
year

7

72,917

135,417
NET ASSETS 2,925,508 2,440,557

CAPITAL AND RESERVES
Called up share capital 11 6 6
Share premium 25,003 25,003
Retained earnings 2,900,499 2,415,548
SHAREHOLDERS' FUNDS 2,925,508 2,440,557

E3 MEDIA LIMITED (REGISTERED NUMBER: 03328177)
T/A GREAT STATE

BALANCE SHEET - continued
31 MARCH 2023


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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 December 2023 and were signed on its behalf by:





K S Avery - Director


E3 MEDIA LIMITED (REGISTERED NUMBER: 03328177)
T/A GREAT STATE

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 MARCH 2023

1. STATUTORY INFORMATION

E3 Media 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.

Preparation of consolidated financial statements
The financial statements contain information about E3 Media Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
The turnover shown in the statement of comprehensive income represents amounts earned during the year, exclusive of Value Added Tax.

In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to stage of completion.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Leasehold property - over the term of the lease
Plant and machinery - 33% on cost
Fixtures and fittings - 25% on cost

Government grants
The company furloughed staff under the Government's Coronavirus Job Retention Scheme (CJRS) in the previous year. Income receivable under the CJRS and relating to that period was recognised as Other Operating Income under the accruals basis. Salaries paid were included with costs as usual.


E3 MEDIA LIMITED (REGISTERED NUMBER: 03328177)
T/A GREAT STATE

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 MARCH 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised 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 that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

E3 MEDIA LIMITED (REGISTERED NUMBER: 03328177)
T/A GREAT STATE

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 MARCH 2023

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
Short term employee benefits including holiday pay and annual bonuses are accrued as services are rendered.

The company operates a defined contribution pension scheme for employees. Contributions payable to the company's pension scheme are charged to the statement of comprehensive income as they become payable in accordance with the rules of the scheme. Differences between contributions payable in the year and those actually paid are shown as either accruals or prepayments in the balance sheet.

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

Trade and other debtors and creditors are classified as basic financial instruments and are measured on 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 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.

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 any direct issue costs.

Interest bearing bank loans, overdrafts and other loans which meet the criteria of basic financial instruments are initially recorded at the present value of cash payable to the bank, usually being equivalent to the proceeds received net of direct issue costs. These liabilities are subsequently measured at amortised cost, using the effective interest rate method.

Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The directors therefore continue to adopt the going concern basis of accounting in preparing the financial statements.

On this basis the directors are confident that the company has adequate resources to continue in operation and, accordingly, have adopted the going concern basis in preparing the financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 64 (2022 - 61 ) .

E3 MEDIA LIMITED (REGISTERED NUMBER: 03328177)
T/A GREAT STATE

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 MARCH 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Leasehold Plant and and
property machinery fittings Totals
£    £    £    £   
COST
At 1 April 2022 148,498 229,453 129,888 507,839
Additions 55,980 55,094 5,912 116,986
Disposals (148,498 ) - - (148,498 )
At 31 March 2023 55,980 284,547 135,800 476,327
DEPRECIATION
At 1 April 2022 145,481 221,655 114,678 481,814
Charge for year 28,345 15,922 14,672 58,939
Eliminated on disposal (148,498 ) - - (148,498 )
At 31 March 2023 25,328 237,577 129,350 392,255
NET BOOK VALUE
At 31 March 2023 30,652 46,970 6,450 84,072
At 31 March 2022 3,017 7,798 15,210 26,025

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 2,100,260 1,473,752
Other debtors 33,500 7,875
Amounts owed by group
undertakings 1,331,779 1,331,779
Corporation tax 210,478 200,315
Prepayments and accrued income 280,782 207,072
3,956,799 3,220,793

E3 MEDIA LIMITED (REGISTERED NUMBER: 03328177)
T/A GREAT STATE

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 MARCH 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 8) 62,500 62,500
Trade creditors 446,819 310,395
Social security and other taxes 133,253 98,471
VAT 390,818 371,703
Other creditors 109,991 39,196
Dividends payable - 80,000
Accruals and deferred income 1,038,392 808,448
2,181,773 1,770,713

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans (see note 8) 72,917 135,417

8. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank loans 62,500 62,500

Amounts falling due between one and two years:
Bank loans - 1-2 years 62,500 62,500

Amounts falling due between two and five years:
Bank loans - 2-5 years 10,417 72,917

E3 MEDIA LIMITED (REGISTERED NUMBER: 03328177)
T/A GREAT STATE

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 MARCH 2023

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 184,250 214,625
Between one and five years 217,750 217,750
402,000 432,375

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 135,417 197,917

The bank loans are secured by charges as described in Note 16. The hire purchase contracts are secured on the assets to which they relate.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
6 Ordinary £1 6 6

12. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Steven Coombe FCA (Senior Statutory Auditor)
for and on behalf of Burnside

13. CONTINGENT LIABILITIES

The company has granted a debenture to HSBC Bank plc as part of a composite guarantee in respect of borrowing facilities provided to the company and NGP3 Limited creating charges over the assets of the company. NGP3 Limited had no such borrowings at 31 March 2023.

14. RELATED PARTY DISCLOSURES

At 31 March 2022 the company was owed £1,331,779 (2022 - £1,331,779) by its parent company,
NGP3 Limited, in respect of loan advances.

E3 MEDIA LIMITED (REGISTERED NUMBER: 03328177)
T/A GREAT STATE

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 MARCH 2023

15. ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of NGP3 Limited, a company registered in England and Wales.

NGP3 Limited is controlled by K S Avery and M D Bennett, directors of the company.

Copies of the financial statements of NGP3 Limited are available from Companies House.