Caseware UK (AP4) 2022.0.179 2022.0.179 2022-12-31117294112022-12-312022-01-01falseGCM is a media agency and event company, primarily offering:i) online and offline (on-premises) advertisement, such as product launches, co-branding and premium brandpromotions;ii) custom-made events, such as competitions and training camps, held at larger venues, hotels, and rentedestates;iii) bespoke promotional video and documentary production;iv) custom-made clothing for influencers; andv) renting out full serviced (all included – F&B and transportation etc.) production facilities (estates andapartments).11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 11729411 2022-01-01 2022-12-31 11729411 2021-01-01 2021-12-31 11729411 2022-12-31 11729411 2021-12-31 11729411 1 2022-01-01 2022-12-31 11729411 d:Director1 2022-01-01 2022-12-31 11729411 c:Buildings c:LongLeaseholdAssets 2022-01-01 2022-12-31 11729411 c:Buildings c:LongLeaseholdAssets 2022-12-31 11729411 c:Buildings c:LongLeaseholdAssets 2021-12-31 11729411 c:MotorVehicles 2022-01-01 2022-12-31 11729411 c:MotorVehicles 2022-12-31 11729411 c:MotorVehicles 2021-12-31 11729411 c:MotorVehicles c:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 11729411 c:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 11729411 c:CurrentFinancialInstruments 2022-12-31 11729411 c:CurrentFinancialInstruments 2021-12-31 11729411 c:CurrentFinancialInstruments c:WithinOneYear 2022-12-31 11729411 c:CurrentFinancialInstruments c:WithinOneYear 2021-12-31 11729411 c:ShareCapital 2022-12-31 11729411 c:ShareCapital 2021-12-31 11729411 c:RetainedEarningsAccumulatedLosses 2022-12-31 11729411 c:RetainedEarningsAccumulatedLosses 2021-12-31 11729411 c:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2022-01-01 2022-12-31 11729411 c:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2022-12-31 11729411 c:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2021-12-31 11729411 d:OrdinaryShareClass1 2022-01-01 2022-12-31 11729411 d:OrdinaryShareClass1 2021-01-01 2021-12-31 11729411 d:OrdinaryShareClass1 2022-12-31 11729411 d:OrdinaryShareClass1 2021-12-31 11729411 d:FRS102 2022-01-01 2022-12-31 11729411 d:AuditExempt-NoAccountantsReport 2022-01-01 2022-12-31 11729411 d:FullAccounts 2022-01-01 2022-12-31 11729411 d:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 11729411 c:WithinOneYear 2022-12-31 11729411 c:WithinOneYear 2021-12-31 11729411 c:BetweenOneFiveYears 2022-12-31 11729411 c:BetweenOneFiveYears 2021-12-31 11729411 c:AcceleratedTaxDepreciationDeferredTax 2022-12-31 11729411 c:AcceleratedTaxDepreciationDeferredTax 2021-12-31 iso4217:GBP xbrli:shares xbrli:pure



















Great Cloud Media Ltd

Registered number: 11729411
Information for filing with Registrar
For the year ended 31 December 2022

 
 11729411
31 December 2022
GREAT CLOUD MEDIA LTD
REGISTERED NUMBER: 11729411

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2022

2022
2021
Note
£
£

Fixed assets
  

Tangible assets
 4 
13,596
26,452

  
13,596
26,452

Current assets
  

Debtors: amounts falling due within one year
 5 
100,113
244,731

Cash at bank and in hand
  
535,016
20,358

  
635,129
265,089

Creditors: amounts falling due within one year
 6 
(577,902)
(240,703)

Net current assets
  
 
 
57,227
 
 
24,386

Total assets less current liabilities
  
70,823
50,838

Provisions for liabilities
  

Other provisions
 8 
(297,789)
(163,091)

  
 
 
(297,789)
 
 
(163,091)

Net liabilities
  
(226,966)
(112,253)


Capital and reserves
  

Called up share capital 
 9 
100
100

Profit and loss account
  
(227,066)
(112,353)

Total equity
  
(226,966)
(112,253)

- 1 -

 
 11729411
31 December 2022
GREAT CLOUD MEDIA LTD
REGISTERED NUMBER: 11729411
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2022

The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




W Stocazi
Director

Date: 19 February 2024

The notes on pages 3 to 10 form part of these financial statements.
- 2 -

 
 11729411
31 December 2022
GREAT CLOUD MEDIA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

1.


General information

Great Cloud Media Limited is a private company limited by shares, incorporated in England and Wales. The company's registered number is 11729411. The address of its registered office is C/O Mazars LLP  The Pinnacle, 160 Midsummer Boulevard, Milton Keynes, Buckinghamshire, United Kingdom, MK9 1FF. The company's trading address is Carpenter Court, 1 Maple Road, Bramhall, Stockport, Cheshire, United Kingdom SK7 2DH. 
GCM is a media agency and event company, primarily offering:
i) online and offline (on-premises) advertisement, such as product launches, co-branding and premium brand promotions;
ii) custom-made events, such as competitions and training camps, held at larger venues, hotels, and rented estates; 
iii) bespoke promotional video and documentary production;
iv) custom-made clothing for influencers; and
v) renting out full serviced (all included – F&B and transportation etc.) production facilities (estates and apartments).

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The financial statements have been presented in Pound Sterling as this is the currency of the primary economic environment in which the company operates and is rounded to the nearest pound. 

The following principal accounting policies have been applied:

 
2.2

Going concern

The director has assessed the company's ability to continue as a going concern and has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. In doing this, the director has considered the results for the period, expectations of future trading and the availability of continued funding. On the basis of this information the director is satisfied that the company will continue as a going concern and so the financial statements have been prepared on this basis.

- 3 -

 
 11729411
31 December 2022
GREAT CLOUD MEDIA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.3

Foreign currency translation

Functional and presentation currency

The company's functional and presentation currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss.

All other foreign exchange gains and losses are presented in profit or loss within 'administrative expenses'. 

 
2.4

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.5

Operating leases: the company as lessee

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

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

- 4 -

 
 11729411
31 December 2022
GREAT CLOUD MEDIA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.6

Current and deferred taxation

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

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Long-term leasehold property
-
over the term of the lease
Motor vehicles
-
3 years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

- 5 -

 
 11729411
31 December 2022
GREAT CLOUD MEDIA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. 

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.11

Provisions for liabilities

Provisions are made where an event has taken place that gives the company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of financial position.

 
2.12

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable.
Financial assets
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is identified, an impairment loss is recognised in profit or loss.
For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and its recoverable amount, which is an estimate of the amount that the company would receive for the asset if it were to be sold at the reporting date.
 
- 6 -

 
 11729411
31 December 2022
GREAT CLOUD MEDIA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)


2.12
Financial instruments (continued)

Financial liabilities
Basic financial liabilities, including trade and other payables 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 receipts discounted at a rate of interest.
Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payables are classified as current liabilities if payment is due  within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost.
Financial assets and liabilities are offset and the net amount reported in the Statement of financial position when there is an 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. 


3.


Employees

The average monthly number of employees, including the director, during the year was 1 (2021: 1).


4.


Tangible fixed assets





Leasehold improvements
Motor vehicles
Total

£
£
£



Cost 


At 1 January 2022
39,577
8,884
48,461



At 31 December 2022

39,577
8,884
48,461



Depreciation


At 1 January 2022
19,788
2,221
22,009


Charge for the year
9,895
2,961
12,856



At 31 December 2022

29,683
5,182
34,865



Net book value



At 31 December 2022
9,894
3,702
13,596



At 31 December 2021
19,789
6,663
26,452
- 7 -

 
 11729411
31 December 2022
GREAT CLOUD MEDIA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

5.


Debtors

2022
2021
£
£


Trade debtors
51,232
115,388

Other debtors
2,979
3,690

Prepayments
24,009
118,815

Deferred taxation
21,893
6,838

100,113
244,731



6.


Creditors: Amounts falling due within one year

2022
2021
£
£

Trade creditors
76,330
3,029

Corporation tax
138,323
-

Other taxation and social security
-
58

Other creditors
32,176
32,176

Accruals and deferred income
331,073
205,440

577,902
240,703


- 8 -

 
 11729411
31 December 2022
GREAT CLOUD MEDIA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

7.


Deferred taxation




2022


£






At beginning of year
6,838


Charged to profit or loss
15,055



At end of year
21,893

The deferred tax asset is made up as follows:

2022
2021
£
£


Accelerated capital allowances
21,893
6,838

21,893
6,838


8.


Provisions




Delapidation provision

£





At 1 January 2022
163,091


Capitalised to fixed assets 
134,698



At 31 December 2022
297,789

Other provisions of £297,789 (2021: £163,091) relate to dilapidation costs to bring the property back to its original state. 

- 9 -

 
 11729411
31 December 2022
GREAT CLOUD MEDIA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

9.


Share capital

2022
2021
£
£
Allotted, called up and fully paid



100 (2021: 100) ordinary shares of £1 each
100
100

The company has one class of ordinary shares; each share carried one voting right per share but no right to fixed income. 



10.


Commitments under operating leases

At 31 December 2022 the company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2022
2021
£
£


Not later than 1 year
223,143
201,720

Later than 1 year and not later than 5 years
345,341
539,600

568,484
741,320


11.


Related party transactions

At 31 December 2022, the company owed an amount of £32,176 (2021: £32,176) to the director of the company. This amount is interest free and is included within other creditors. 


12.


Post balance sheet events

After the year end date the company entered into a loan agreement with Premium Design & Build Ltd for an amount of €1,800,000. 


13.


Controlling party

The ultimate controlling party is W Stocazi, the sole shareholder and director of the company. 

- 10 -