Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-312022-03-018falseNo description of principal activity12truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10700422 2022-03-01 2023-03-31 10700422 2021-03-01 2022-02-28 10700422 2023-03-31 10700422 2022-02-28 10700422 c:Director1 2022-03-01 2023-03-31 10700422 c:Director3 2022-03-01 2023-03-31 10700422 d:Buildings d:LongLeaseholdAssets 2022-03-01 2023-03-31 10700422 d:Buildings d:LongLeaseholdAssets 2023-03-31 10700422 d:Buildings d:LongLeaseholdAssets 2022-02-28 10700422 d:PlantMachinery 2022-03-01 2023-03-31 10700422 d:PlantMachinery 2023-03-31 10700422 d:PlantMachinery 2022-02-28 10700422 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-03-01 2023-03-31 10700422 d:FurnitureFittings 2022-03-01 2023-03-31 10700422 d:FurnitureFittings 2023-03-31 10700422 d:FurnitureFittings 2022-02-28 10700422 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-03-01 2023-03-31 10700422 d:OfficeEquipment 2022-03-01 2023-03-31 10700422 d:OfficeEquipment 2023-03-31 10700422 d:OfficeEquipment 2022-02-28 10700422 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-03-01 2023-03-31 10700422 d:OwnedOrFreeholdAssets 2022-03-01 2023-03-31 10700422 d:PatentsTrademarksLicencesConcessionsSimilar 2023-03-31 10700422 d:PatentsTrademarksLicencesConcessionsSimilar 2022-02-28 10700422 d:CurrentFinancialInstruments 2023-03-31 10700422 d:CurrentFinancialInstruments 2022-02-28 10700422 d:Non-currentFinancialInstruments 2023-03-31 10700422 d:Non-currentFinancialInstruments 2022-02-28 10700422 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 10700422 d:CurrentFinancialInstruments d:WithinOneYear 2022-02-28 10700422 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 10700422 d:Non-currentFinancialInstruments d:AfterOneYear 2022-02-28 10700422 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 10700422 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-02-28 10700422 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 10700422 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-02-28 10700422 d:ShareCapital 2023-03-31 10700422 d:ShareCapital 2022-02-28 10700422 d:SharePremium 2023-03-31 10700422 d:SharePremium 2022-02-28 10700422 d:RetainedEarningsAccumulatedLosses 2023-03-31 10700422 d:RetainedEarningsAccumulatedLosses 2022-02-28 10700422 c:OrdinaryShareClass1 2022-03-01 2023-03-31 10700422 c:OrdinaryShareClass1 2023-03-31 10700422 c:OrdinaryShareClass1 2022-02-28 10700422 c:OrdinaryShareClass2 2022-03-01 2023-03-31 10700422 c:OrdinaryShareClass2 2023-03-31 10700422 c:OrdinaryShareClass2 2022-02-28 10700422 c:FRS102 2022-03-01 2023-03-31 10700422 c:AuditExempt-NoAccountantsReport 2022-03-01 2023-03-31 10700422 c:FullAccounts 2022-03-01 2023-03-31 10700422 c:PrivateLimitedCompanyLtd 2022-03-01 2023-03-31 10700422 6 2022-03-01 2023-03-31 10700422 d:PatentsTrademarksLicencesConcessionsSimilar d:OwnedIntangibleAssets 2022-03-01 2023-03-31 10700422 e:PoundSterling 2022-03-01 2023-03-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 10700422









ABS MEDIA LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 MARCH 2023

 
ABS MEDIA LIMITED
REGISTERED NUMBER: 10700422

BALANCE SHEET
AS AT 31 MARCH 2023

31 March
28 February
2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
153
240

Tangible assets
 5 
1,829,245
1,960,319

Investments
 6 
100
100

  
1,829,498
1,960,659

Current assets
  

Debtors: amounts falling due within one year
 7 
1,655,894
541,836

Cash at bank and in hand
 8 
73,589
1,500,063

  
1,729,483
2,041,899

Creditors: amounts falling due within one year
 9 
(410,161)
(417,138)

Net current assets
  
 
 
1,319,322
 
 
1,624,761

Total assets less current liabilities
  
3,148,820
3,585,420

Creditors: amounts falling due after more than one year
 10 
(230,905)
(232,499)

Provisions for liabilities
  

Deferred tax
  
(306,412)
(327,939)

  
 
 
(306,412)
 
 
(327,939)

Net assets
  
2,611,503
3,024,982


Capital and reserves
  

Called up share capital 
 12 
4
4

Share premium account
  
4,484,633
4,484,633

Profit and loss account
  
(1,873,134)
(1,459,655)

  
2,611,503
3,024,982


Page 1

 
ABS MEDIA LIMITED
REGISTERED NUMBER: 10700422
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

The directors consider 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 period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge 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: 




A Hamzianpour
N B Sonuga
Director
Director


Date: 15 March 2024

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

Page 2

 
ABS MEDIA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

1.


General information

ABS Media Limited is a private company limited by shares incorporated in England and Wales. The registered office is 86-90 Paul Street, London,  EC2A 4NE . The registration number is 10700422. 

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 following principal accounting policies have been applied:

 
2.2

Going concern

In assessing the ability of the company to operate as a going concern, management have evaluated current and forecasted operational results, and the solvency of the company. As a result, the directors consider it appropriate to prepare the financial statements on a going concern basis.
 
Potential sources of uncertainty noted by the directors include the COVID-19 pandemic. However, at the date of this report it is not possible to reliably determine the effects that this will have on the company.
 
Accordingly the directors have continued to prepare the financial statements on the going concern basis.

 
2.3

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.

Page 3

 
ABS MEDIA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the period in which they are incurred.

 
2.7

Share-based payments

Where share options are awarded to employees, the fair value of the options at the date of grant is charged to profit or loss over the vesting period. Non-market vesting conditions are taken into account by adjusting the number of equity instruments expected to vest at each balance sheet date so that, ultimately, the cumulative amount recognised over the vesting period is based on the number of options that eventually vest. Market vesting conditions are factored into the fair value of the options granted. The cumulative expense is not adjusted for failure to achieve a market vesting condition.
The fair value of the award also takes into account non-vesting conditions. These are either factors beyond the control of either party (such as a target based on an index) or factors which are within the control of one or other of the parties (such as the Company keeping the scheme open or the employee maintaining any contributions required by the scheme).
Where the terms and conditions of options are modified before they vest, the increase in the fair value of the options, measured immediately before and after the modification, is also charged to profit or loss over the remaining vesting period.
Where equity instruments are granted to persons other than employees, profit or loss is charged with fair value of goods and services received.

 
2.8

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Page 4

 
ABS MEDIA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.9

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 both the straight-line and reducing balance methods..

Depreciation is provided on the following basis:

Long-term leasehold property
-
Straight line over the term of the lease
Plant and machinery
-
20% on reducing balance
Fixtures and fittings
-
20% on reducing balance
Office equipment
-
20% 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.

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

 
2.10

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

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.

 
2.13

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.

Page 5

 
ABS MEDIA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

3.


Employees

The average monthly number of employees, including directors, during the period was 12 (2022 - 8).


4.


Intangible assets






Patents

£



Cost


At 1 March 2022
400



At 31 March 2023

400



Amortisation


At 1 March 2022
160


Charge for the period on owned assets
87



At 31 March 2023

247



Net book value



At 31 March 2023
153



At 28 February 2022
240



Page 6

 
ABS MEDIA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

5.


Tangible fixed assets







Long-term leasehold property
Plant and machinery
Fixtures and fittings
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 March 2022
2,143,606
125,254
139,105
10,161
2,418,126


Additions
-
1,952
67,225
6,267
75,444



At 31 March 2023

2,143,606
127,206
206,330
16,428
2,493,570



Depreciation


At 1 March 2022
359,628
37,034
57,450
3,695
457,807


Charge for the period on owned assets
162,879
19,501
21,379
2,759
206,518



At 31 March 2023

522,507
56,535
78,829
6,454
664,325



Net book value



At 31 March 2023
1,621,099
70,671
127,501
9,974
1,829,245



At 28 February 2022
1,783,978
88,220
81,655
6,466
1,960,319


6.


Fixed asset investments








Investments in subsidiary companies

£



Cost or valuation


At 1 March 2022
100



At 31 March 2023
100




Page 7

 
ABS MEDIA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

7.


Debtors

31 March
28 February
2023
2022
£
£


Trade debtors
17,892
8,327

Amounts owed by group undertakings
1,514,942
459,752

Other debtors
98,024
69,159

Prepayments and accrued income
25,036
4,598

1,655,894
541,836



8.


Cash and cash equivalents

31 March
28 February
2023
2022
£
£

Cash at bank and in hand
73,589
1,500,063

73,589
1,500,063



9.


Creditors: Amounts falling due within one year

31 March
28 February
2023
2022
£
£

Bank loans
22,136
81,023

Trade creditors
79,416
44,089

Other taxation and social security
52,863
3,714

Other creditors
58,384
53,906

Accruals and deferred income
197,362
234,406

410,161
417,138


Page 8

 
ABS MEDIA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

10.


Creditors: Amounts falling due after more than one year

31 March
28 February
2023
2022
£
£

Bank loans
210,451
205,049

Other loans
3
-

Net obligations under finance leases and hire purchase contracts
20,451
27,450

230,905
232,499



11.


Loans


Analysis of the maturity of loans is given below:


31 March
28 February
2023
2022
£
£

Amounts falling due within one year

Bank loans
22,136
81,023


22,136
81,023

Amounts falling due 1-2 years

Bank loans
10,135
9,932

Other loans
3
-


10,138
9,932

Amounts falling due 2-5 years

Bank loans
200,316
195,118


200,316
195,118


232,590
286,073


Page 9

 
ABS MEDIA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

12.


Share capital

31 March
28 February
2023
2022
£
£
Allotted, called up and fully paid



170,692 (2022 - 170,500) Ordinary shares of £0.00002 each
3
3
48,933 (2022 - 49,000) Preference Shares shares of £0.00002 each
1
1

4

4


 
Page 10