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REGISTERED NUMBER: 12333152 (England and Wales)
























REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE PERIOD 1 JANUARY 2022 TO 30 JUNE 2023

FOR

MEDIA MARKETING COMPLIANCE LIMITED

MEDIA MARKETING COMPLIANCE LIMITED (REGISTERED NUMBER: 12333152)

CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE PERIOD 1 JANUARY 2022 TO 30 JUNE 2023










Page

Company Information 1

Report of the Directors 2

Report of the Independent Auditors 3

Consolidated Statement of Comprehensive Income 7

Consolidated Balance Sheet 8

Company Balance Sheet 9

Consolidated Statement of Changes in Equity 10

Company Statement of Changes in Equity 11

Notes to the Consolidated Financial Statements 12


MEDIA MARKETING COMPLIANCE LIMITED

COMPANY INFORMATION
FOR THE PERIOD 1 JANUARY 2022 TO 30 JUNE 2023







DIRECTORS: N Johnson
E J Sherrington





REGISTERED OFFICE: New Broad Street House
35 New Broad Street
London
EC2M 1NH





REGISTERED NUMBER: 12333152 (England and Wales)





AUDITORS: TC Group
1st Floor
Ocean Village Innovation Centre
Ocean Way
Southampton
Hampshire
SO14 3JZ

MEDIA MARKETING COMPLIANCE LIMITED (REGISTERED NUMBER: 12333152)

REPORT OF THE DIRECTORS
FOR THE PERIOD 1 JANUARY 2022 TO 30 JUNE 2023


The directors present their report with the financial statements of the company and the group for the period 1 January 2022 to 30 June 2023.

PRINCIPAL ACTIVITY
The principal activity of the group in the period under review was that of contract compliance auditing.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 January 2022 to the date of this report.

N Johnson
E J Sherrington

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS
The auditors, TC Group, will be proposed for re-appointment at the forthcoming Annual General Meeting.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





N Johnson - Director


1 March 2024

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
MEDIA MARKETING COMPLIANCE LIMITED


Opinion
We have audited the financial statements of Media Marketing Compliance Limited (the 'parent company') and its subsidiaries (the 'group') for the period ended 30 June 2023 which comprise the Consolidated Statement of Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 30 June 2023 and of the group's profit for the period then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Report of the Directors has been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
MEDIA MARKETING COMPLIANCE LIMITED


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit; or
- the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption from the requirement to prepare a Group Strategic Report or in preparing the Report of the Directors.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page two, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
MEDIA MARKETING COMPLIANCE LIMITED


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We obtained an understanding of the legal and regulatory frameworks that are applicable to the company and determined that the most significant frameworks which are directly relevant so specific assertions in the financial statements are those that relate to the reporting framework (UK GAAP and the Companies Act 2006) and the relevant tax compliance regulations in the UK.

We understood how the company is complying with those frameworks by making enquiries of management and those responsible for legal and compliance procedures. We corroborated our enquiries through review of board minutes and discussions with those charged with governance.

We assess the susceptibility of the company's financial statements to material misstatement, including how fraud might occur, by discussion with management from various parts of the business to understand where they considered there was a susceptibility to fraud. We considered the procedures and controls that the company has established to prevent and detect fraud, and how these are monitored by management, and also any enhanced risk factors such as performance targets.

Based on our understanding, we designed our audit procedures to identify any non-compliance with laws and regulations identified in the paragraphs above.

We also performed audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Other matters
In the previous accounting period the Parent company took advantage of the audit exemption under s383 of the Companies Act 2006 and did not prepare group financial statements. Therefore the comparative consolidated financial information presented in the financial statements has not been subject to audit.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
MEDIA MARKETING COMPLIANCE LIMITED


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Richard Gillespie FCCA (Senior Statutory Auditor)
for and on behalf of TC Group
1st Floor
Ocean Village Innovation Centre
Ocean Way
Southampton
Hampshire
SO14 3JZ

1 March 2024

MEDIA MARKETING COMPLIANCE LIMITED (REGISTERED NUMBER: 12333152)

CONSOLIDATED
STATEMENT OF COMPREHENSIVE
INCOME
FOR THE PERIOD 1 JANUARY 2022 TO 30 JUNE 2023

Period
1.1.22
to Year ended
30.6.23 31.12.21
Notes £    £   

TURNOVER 3,270,431 1,218,293

Cost of sales 515,118 243,379
GROSS PROFIT 2,755,313 974,914

Administrative expenses 1,865,355 381,180
889,958 593,734

Other operating income 10,525 760
OPERATING PROFIT 4 900,483 594,494

Interest receivable and similar income 2 -
Interest payable and similar expenses (2,054 ) (1,231 )
PROFIT BEFORE TAXATION 898,431 593,263

Tax on profit 179,795 98,990
PROFIT FOR THE FINANCIAL PERIOD 718,636 494,273

OTHER COMPREHENSIVE LOSS
Currency translation differences (39,351 ) -
Income tax relating to other
comprehensive loss

-

-
OTHER COMPREHENSIVE LOSS FOR THE
PERIOD, NET OF INCOME TAX

(39,351

)

-
TOTAL COMPREHENSIVE INCOME FOR THE
PERIOD

679,285

494,273

Profit attributable to:
Owners of the parent 718,636 494,273

Total comprehensive income attributable to:
Owners of the parent 679,285 494,273

MEDIA MARKETING COMPLIANCE LIMITED (REGISTERED NUMBER: 12333152)

CONSOLIDATED BALANCE SHEET
30 JUNE 2023

2023 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 6 8,542 5,517
Investments 7 - -
8,542 5,517

CURRENT ASSETS
Debtors 8 937,913 696,113
Cash at bank 238,588 90,993
1,176,501 787,106
CREDITORS
Amounts falling due within one year 9 464,466 337,151
NET CURRENT ASSETS 712,035 449,955
TOTAL ASSETS LESS CURRENT LIABILITIES 720,577 455,472

CREDITORS
Amounts falling due after more than one
year

10

(22,418

)

(37,255

)

PROVISIONS FOR LIABILITIES (1,705 ) (1,048 )
NET ASSETS 696,454 417,169

CAPITAL AND RESERVES
Called up share capital 12 105 105
Other reserves (39,351 ) -
Retained earnings 735,700 417,064
SHAREHOLDERS' FUNDS 696,454 417,169

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

The financial statements were approved by the Board of Directors and authorised for issue on 27 February 2024 and were signed on its behalf by:





N Johnson - Director


MEDIA MARKETING COMPLIANCE LIMITED (REGISTERED NUMBER: 12333152)

COMPANY BALANCE SHEET
30 JUNE 2023

2023 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 6 6,821 5,517
Investments 7 100 -
6,921 5,517

CURRENT ASSETS
Debtors 8 1,107,993 695,785
Cash at bank 173,644 89,150
1,281,637 784,935
CREDITORS
Amounts falling due within one year 9 536,035 334,969
NET CURRENT ASSETS 745,602 449,966
TOTAL ASSETS LESS CURRENT LIABILITIES 752,523 455,483

CREDITORS
Amounts falling due after more than one
year

10

(22,418

)

(37,255

)

PROVISIONS FOR LIABILITIES (1,705 ) (1,048 )
NET ASSETS 728,400 417,180

CAPITAL AND RESERVES
Called up share capital 12 105 105
Retained earnings 728,295 417,075
SHAREHOLDERS' FUNDS 728,400 417,180

Company's profit for the financial year 711,220 494,284

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

The financial statements were approved by the Board of Directors and authorised for issue on 27 February 2024 and were signed on its behalf by:





N Johnson - Director


MEDIA MARKETING COMPLIANCE LIMITED (REGISTERED NUMBER: 12333152)

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD 1 JANUARY 2022 TO 30 JUNE 2023

Called up
share Retained Other Total
capital earnings reserves equity
£    £    £    £   
Balance at 1 January 2021 100 (77,209 ) - (77,109 )

Changes in equity
Profit for the year - 494,273 - 494,273
Total comprehensive income - 494,273 - 494,273
Issue of share capital 5 - - 5
Balance at 31 December 2021 105 417,064 - 417,169

Changes in equity
Profit for the period - 718,636 - 718,636
Other comprehensive income - - (39,351 ) (39,351 )
Total comprehensive income - 718,636 (39,351 ) 679,285
Dividends - (400,000 ) - (400,000 )
Balance at 30 June 2023 105 735,700 (39,351 ) 696,454

MEDIA MARKETING COMPLIANCE LIMITED (REGISTERED NUMBER: 12333152)

COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD 1 JANUARY 2022 TO 30 JUNE 2023

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 January 2021 100 (77,209 ) (77,109 )

Changes in equity
Profit for the year - 494,284 494,284
Total comprehensive income - 494,284 494,284
Issue of share capital 5 - 5
Balance at 31 December 2021 105 417,075 417,180

Changes in equity
Profit for the period - 711,220 711,220
Total comprehensive income - 711,220 711,220
Dividends - (400,000 ) (400,000 )
Balance at 30 June 2023 105 728,295 728,400

MEDIA MARKETING COMPLIANCE LIMITED (REGISTERED NUMBER: 12333152)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE PERIOD 1 JANUARY 2022 TO 30 JUNE 2023


1. STATUTORY INFORMATION

Media Marketing Compliance 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 General 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.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires Group management to exercise judgement in applying the company's accounting policies.

The Group's functional and presentational currency is GBP rounded to the nearest pound.

Basis of consolidation
The financial statements consolidate the accounts of the Parent Company and its subsidiary undertakings from the date control is obtained. Control is the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities. All intra-group transactions, balances, income and expenses are eliminated on consolidation. Currency differences that arise on translation of those functional currencies of the group that are not GBP have been recognised in Other Comprehensive Income.

Parent company disclosures exemption
In preparing the separate financial statements of the parent company, advantage has been taken of the following disclosure exemptions available in FRS 102:
- Only one reconciliation of the number of shares outstanding at the beginning and end of the period has been presented as the reconciliations for the group and the parent company would be identical.

Going concern
As at the point of authorising the accounts, and for the foreseeable future, the directors consider the going concern assumption to still be appropriate. The directors acknowledge that given the rapidly changing business and social environment, there are likely to be significant unknown factors which may present themselves. Such factors are considered by the directors to represent a general inherent level of risk in relation to the going concern assumption albeit not quantifiable at this time.

Turnover
Turnover comprises the invoiced value of services supplied by the Group, exclusive of value added tax and trade discounts, together with work undertaken on revenue contracts in progress where the value can be reliably estimated or has been certified but not yet invoiced to customers at the balance sheet date.

Term contracts are assessed on a contract by contract basis and are reflected in the Statement of Comprehensive Income by recording turnover and related costs as contract activity progresses.
Where the outcome of each contract can be assessed with reasonable certainty before its conclusion, the attributable profit is recognised in the Statement of Comprehensive Income as the difference between the reported turnover and related costs for that contract, with provisions being made for all foreseeable losses.

Where turnover is recognised by reference to stage of completion, completed but un-invoiced, work on contracts in progress is recorded as accrued income within debtors. The debtors recorded are net of any progress payments received from customers. Where amounts are received from customers in advance deferred revenue is recognised being the net un-invoiced, work on contracts in progress and amounts received from customers.

MEDIA MARKETING COMPLIANCE LIMITED (REGISTERED NUMBER: 12333152)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JANUARY 2022 TO 30 JUNE 2023


2. ACCOUNTING POLICIES - continued

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 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.

Gain and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised within 'administrative expenses' in the statement of comprehensive income.

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.

Fixed asset investments
Investments in subsidiary undertakings are recognised at cost less impairment.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Consolidated 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 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 period 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
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 group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

MEDIA MARKETING COMPLIANCE LIMITED (REGISTERED NUMBER: 12333152)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JANUARY 2022 TO 30 JUNE 2023


2. ACCOUNTING POLICIES - continued

Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

Financial instruments
Financial liabilities and equity are classified according to the substance of the financial instrument’s contractual obligations, rather than the financial instrument’s legal form.
Financial assets and liabilities are offset and 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.

Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 7 (2021 - 7 ) .

4. OPERATING PROFIT

The operating profit is stated after charging:

Period
1.1.22
to Year ended
30.6.23 31.12.21
£    £   
Other operating leases 41,647 23,241
Depreciation - owned assets 2,746 1,153

5. INDIVIDUAL STATEMENT OF COMPREHENSIVE INCOME

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


MEDIA MARKETING COMPLIANCE LIMITED (REGISTERED NUMBER: 12333152)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JANUARY 2022 TO 30 JUNE 2023


6. TANGIBLE FIXED ASSETS

Group
Office
equipment
£   
COST
At 1 January 2022 8,096
Additions 5,771
At 30 June 2023 13,867
DEPRECIATION
At 1 January 2022 2,579
Charge for period 2,746
At 30 June 2023 5,325
NET BOOK VALUE
At 30 June 2023 8,542
At 31 December 2021 5,517

Company
Office
equipment
£   
COST
At 1 January 2022 8,096
Additions 4,050
At 30 June 2023 12,146
DEPRECIATION
At 1 January 2022 2,579
Charge for period 2,746
At 30 June 2023 5,325
NET BOOK VALUE
At 30 June 2023 6,821
At 31 December 2021 5,517

MEDIA MARKETING COMPLIANCE LIMITED (REGISTERED NUMBER: 12333152)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JANUARY 2022 TO 30 JUNE 2023


7. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakings
£   
COST
Additions 100
At 30 June 2023 100
NET BOOK VALUE
At 30 June 2023 100

The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiaries

Media Marketing Compliance Pty Ltd
Registered office: 247 Church Street, Parramatta, Sydney, Australia.
Nature of business: Contract Compliance Auditing
%
Class of shares: holding
Ordinary 100.00

Media Marketing Compliance LLC
Registered office: 1160 Battery St. EAST, Suite 100, San Francisco USA
Nature of business: Contract Compliance Auditing
%
Class of shares: holding
Ordinary 100.00


8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2023 2021 2023 2021
£    £    £    £   
Trade debtors 679,483 543,646 449,832 498,013
Amounts owed by group undertakings - - 469,563 88,712
Other debtors 26,883 12,971 26,883 12,971
Accrued income 207,461 121,132 161,715 77,725
Prepayments 24,086 18,364 - 18,364
937,913 696,113 1,107,993 695,785

Accrued income of £207,461 (2021: £121,132) for the Group has been reclassified from Other debtors and is now presented separately within Debtors due within one year, due to its significance to the readers of the financial statements. The reclassification has had no impact on profit for the year or net assets.

MEDIA MARKETING COMPLIANCE LIMITED (REGISTERED NUMBER: 12333152)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JANUARY 2022 TO 30 JUNE 2023


9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2023 2021 2023 2021
£    £    £    £   
Bank loans and overdrafts 10,528 9,587 9,950 9,587
Other loans 1,845 1,854 - -
Trade creditors 148,300 76,114 129,266 75,786
Amounts owed to group undertakings - - 130,325 -
Corporation tax 179,138 97,942 179,138 97,942
Social security and other taxes 61,907 11,605 51,156 11,605
Other creditors 62,748 42,718 36,200 42,718
Deferred income - 97,331 - 97,331
464,466 337,151 536,035 334,969

Deferred income of £Nil (2021: £97,331) has been reclassified from Other creditors and is now presented separately within Creditors due within one year, due to its significance to the readers of the financial statements. The reclassification has had no impact on profit for the year or net assets.

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

Group Company
2023 2021 2023 2021
£    £    £    £   
Bank loans more than 1 year 22,418 37,255 22,418 37,255

11. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Non-cancellable operating leases
2023 2021
£    £   
Within one year 21,521 -

Company
Non-cancellable operating leases
2023 2021
£    £   
Within one year 21,521 -

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2021
value: £    £   
1,000 Ordinary £0.10 100 100
5 Preference £1 5 5
105 105

MEDIA MARKETING COMPLIANCE LIMITED (REGISTERED NUMBER: 12333152)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JANUARY 2022 TO 30 JUNE 2023


12. CALLED UP SHARE CAPITAL - continued

Ordinary and Preference shares rank pari passu. Consent from preference shareholders is required for the transfer, sale or disposal of any Ordinary shares. Each Preference share can be converted to a number of Ordinary shares as determined at inception.

13. PENSION COMMITMENTS

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Group in an independently administered fund. The pension cost charge represents contributions payable by the Group to the fund and amounted to £157,241 (2021: £100,750). Contributions totalling £46,490 (2021: £38,290) were payable to the fund at the balance sheet date and are included in other creditors.

14. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

During the year Marketing Compliance Associates Ltd, of which Mr S. Broderick is a director and shareholder, provided consultancy services to the company at market rates. The total value of the services provided was £154,850 (2021: £90,853).

In the previous year EJS Compliance Ltd, of which Mr E. Sherrington is a director and shareholder, provided consultancy services to the company at market rates. The total value of the services provided in this period was Nil (2021: £30,000).

In the previous year MediaPath Compliance US, of which Mr E Sherrington is a partner, received professional services from the company at market rates. The total value of services provided in this period was Nil (2021: £72,884)

15. ULTIMATE CONTROLLING PARTY

There is no one controlling party.