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REGISTERED NUMBER: 07614194 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Like Digital Media Ltd

Like Digital Media Ltd (Registered number: 07614194)






Contents of the Financial Statements
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Like Digital Media Ltd

Company Information
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: K Escritt
M N Khawaja
R A J Mogendorff





REGISTERED OFFICE: The Stable Yard
Vicarage Road
Stony Stratford
Milton Keynes
Buckinghamshire
MK11 1BN





REGISTERED NUMBER: 07614194 (England and Wales)





ACCOUNTANTS: Connolly Accountants & Business Advisors Ltd
Chartered Certified Accountants
The Stable Yard
Vicarage Road
Stony Stratford
Milton Keynes
Buckinghamshire
MK11 1BN

Like Digital Media Ltd (Registered number: 07614194)

Balance Sheet
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 781 2,036

CURRENT ASSETS
Debtors 5 778,401 830,958
Cash at bank 1,143 98,878
779,544 929,836
CREDITORS
Amounts falling due within one year 6 1,051,788 499,677
NET CURRENT (LIABILITIES)/ASSETS (272,244 ) 430,159
TOTAL ASSETS LESS CURRENT
LIABILITIES

(271,463

)

432,195

CREDITORS
Amounts falling due after more than one year 7 14,974 24,576
NET (LIABILITIES)/ASSETS (286,437 ) 407,619

CAPITAL AND RESERVES
Called up share capital 114 114
Share premium 199,100 199,100
Retained earnings (485,651 ) 208,405
SHAREHOLDERS' FUNDS (286,437 ) 407,619

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

Like Digital Media Ltd (Registered number: 07614194)

Balance Sheet - continued
31 DECEMBER 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 Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 January 2024 and were signed on its behalf by:





R A J Mogendorff - Director


Like Digital Media Ltd (Registered number: 07614194)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Like Digital Media Ltd 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.

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.

Going concern
These accounts have been prepared on the going concern basis. The company has net liabilities on the balance sheet and is reliant upon the continued support of payment arrangements from third parties.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 3 years
Computer equipment - 3 years

Like Digital Media Ltd (Registered number: 07614194)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provision of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic Financial Assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised costs using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is a contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors and loans from related companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised costs, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 balance sheet date.


Like Digital Media Ltd (Registered number: 07614194)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued
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.

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

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 19 (2022 - 15 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023
and 31 December 2023 14,115
DEPRECIATION
At 1 January 2023 12,079
Charge for year 1,255
At 31 December 2023 13,334
NET BOOK VALUE
At 31 December 2023 781
At 31 December 2022 2,036

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 293,949 406,773
Other debtors 484,452 424,185
778,401 830,958

Like Digital Media Ltd (Registered number: 07614194)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 35,549 9,366
Trade creditors 144,807 44,279
Taxation and social security 588,497 438,959
Other creditors 282,935 7,073
1,051,788 499,677

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 14,974 24,576

Loan balances outstanding at the year end relate to a Bounce Back Loan. The loan is unsecured and is guaranteed by the UK government.

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 21,452 76,883
Between one and five years - 21,452
21,452 98,335

9. PENSION COMMITMENTS

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. The assets of the scheme are held separately from those of the company in an independently administered fund.
Contributions totalling £4,609 (2022: £3,116) were payable to the fund at the balance sheet date and are included in other creditors.

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
**UNKNOWN DIRECTOR 1**
Balance outstanding at start of year 187,391 187,391
Amounts repaid (20,281 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 167,110 187,391

Like Digital Media Ltd (Registered number: 07614194)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

All transactions are interest free and all balances are repayable on demand.

11. RELATED PARTY DISCLOSURES

During the year the company received £275,357 from Like Digital Media Dubai, a company connected by virtue of common directorship.
At the reporting date the balance owed to Like Digital Media Dubai was £275,357 (2022: £25,544 owed from Like Digital Media Dubai). The loan is interest free and has no set repayment terms.