Caseware UK (AP4) 2022.0.179 2022.0.179 2023-04-302023-04-304true4falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2022-05-01No description of principal activityfalse 11953540 2022-05-01 2023-04-30 11953540 2021-05-01 2022-04-30 11953540 2023-04-30 11953540 2022-04-30 11953540 c:Director1 2022-05-01 2023-04-30 11953540 d:ComputerEquipment 2022-05-01 2023-04-30 11953540 d:ComputerEquipment 2023-04-30 11953540 d:ComputerEquipment 2022-04-30 11953540 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-05-01 2023-04-30 11953540 d:CurrentFinancialInstruments 2023-04-30 11953540 d:CurrentFinancialInstruments 2022-04-30 11953540 d:CurrentFinancialInstruments 4 2023-04-30 11953540 d:CurrentFinancialInstruments 4 2022-04-30 11953540 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 11953540 d:CurrentFinancialInstruments d:WithinOneYear 2022-04-30 11953540 d:RetainedEarningsAccumulatedLosses 2023-04-30 11953540 d:RetainedEarningsAccumulatedLosses 2022-04-30 11953540 c:FRS102 2022-05-01 2023-04-30 11953540 c:AuditExemptWithAccountantsReport 2022-05-01 2023-04-30 11953540 c:FullAccounts 2022-05-01 2023-04-30 11953540 c:CompanyLimitedByGuarantee 2022-05-01 2023-04-30 iso4217:GBP xbrli:pure

Registered number: 11953540










DECLASSIFIED MEDIA LIMITED
(A Company Limited by Guarantee)








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2023

 
DECLASSIFIED MEDIA LIMITED
 
(A Company Limited by Guarantee)
 

CONTENTS



Page
Accountants' Report
 
 
1
Balance Sheet
 
 
2
Notes to the Financial Statements
 
 
3 - 6


 
DECLASSIFIED MEDIA LIMITED
 
(A Company Limited by Guarantee)
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF DECLASSIFIED 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 financial statements of Declassified Media Limited for the year ended 30 April 2023 which comprise  the Balance Sheet and the related notes 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 https://www.icaew.com /regulation.

This report is made solely to the director of Declassified Media Limited in accordance with the terms of our engagement letter dated 1 May 2019Our work has been undertaken solely to prepare for your approval the financial statements of Declassified Media Limited  and state those matters that we have agreed to state to the director of Declassified Media Limited in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Declassified Media Limited and its director for our work or for this report. 

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

We have not been instructed to carry out an audit or review of the financial statements of Declassified 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 financial statements.

  


BAGINSKY COHEN
CHARTERED ACCOUNTANTS
930 HIGH ROAD
LONDON
N12 9RT
16 March 2024
Page 1

 
DECLASSIFIED MEDIA LIMITED
 
(A Company Limited by Guarantee)
REGISTERED NUMBER: 11953540

BALANCE SHEET
AS AT 30 APRIL 2023

2023
2023
2022
2022
Note
£
£
£
£

FIXED ASSETS
  

Tangible assets
 4 
1,626
1,049

CURRENT ASSETS
  

Cash at bank and in hand
 5 
89,408
73,887

  
89,408
73,887

Creditors: amounts falling due within one year
 6 
(88,740)
(76,270)

NET CURRENT ASSETS/(LIABILITIES)
  
 
 
668
 
 
(2,383)

  

NET ASSETS/(LIABILITIES)
  
2,294
(1,334)


CAPITAL AND RESERVES
  

Profit and loss account
  
2,294
(1,334)

  
2,294
(1,334)


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 his 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 on 16 March 2024.




M CURTIS
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
DECLASSIFIED MEDIA LIMITED

(A Company Limited by Guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

1.ACCOUNTING POLICIES

 
1.1

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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 2).

The following principal accounting policies have been applied:

 
1.2

REVENUE

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue 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 revenue is recognised:

Rendering of services

Revenue 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 revenue 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.

 
1.3

PENSIONS

DEFINED CONTRIBUTION PENSION PLAN

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
1.4

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.

Page 3

 
DECLASSIFIED MEDIA LIMITED

(A Company Limited by Guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

1.ACCOUNTING POLICIES (CONTINUED)


1.4
TANGIBLE FIXED ASSETS (CONTINUED)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Computer equipment
-
25%
reducing balance

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.

 
1.5

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.

 
1.6

CREDITORS

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

 
1.7

FINANCIAL INSTRUMENTS

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Page 4

 
DECLASSIFIED MEDIA LIMITED

(A Company Limited by Guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

2.



JUDGMENTS IN APPLYING ACCOUNTING POLICIES AND KEY SOURCES OF ESTIMATION UNCERTAINTY

In the application of the company's accounting policies, which are described in note 1, management is required to make judgments, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised affects only that period or in the period of the revision affects both current and future periods.


3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 4 (2022 - 4).


4.


TANGIBLE FIXED ASSETS





Computer equipment

£



COST OR VALUATION


At 1 May 2022
1,399


Additions
1,119



At 30 April 2023

2,518



DEPRECIATION


At 1 May 2022
350


Charge for the year on owned assets
542



At 30 April 2023

892



NET BOOK VALUE



At 30 April 2023
1,626



At 30 April 2022
1,049

Page 5

 
DECLASSIFIED MEDIA LIMITED

(A Company Limited by Guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

5.


CASH AND CASH EQUIVALENTS

2023
2022
£
£

Cash at bank and in hand
89,408
73,887



6.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023
2022
£
£

Other taxation and social security
-
704

Accruals
1,740
1,680

Deferred income
87,000
73,886

88,740
76,270




7.


COMPANY STATUS

The company is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.


8.


PENSION COMMITMENTS

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. Contributions totalling £nil (2022: £704) were payable to the fund at the balance sheet date and are included in creditors.


Page 6