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Registration number: 10396311

Mediatel Audiotrack Limited

Financial Statements

for the Year Ended 31 December 2023

Brebners
Chartered Accountants & Statutory Auditor
130 Shaftesbury Avenue
London
W1D 5AR

 

Mediatel Audiotrack Limited

Contents

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3 to 6

 

Mediatel Audiotrack Limited

Company Information

Directors

S L Akosa

S J Cullingham

G C Grimmer

K L Clarke

Registered office

130 Shaftesbury Avenue
2nd Floor
London
W1D 5EU

Auditor

Brebners
Chartered Accountants & Statutory Auditor
130 Shaftesbury Avenue
London
W1D 5AR

 

Mediatel Audiotrack Limited

Statement of Financial Position as at 31 December 2023

Note

2023
£

2022
£

Current assets

 

Debtors

5

328,945

222,935

Cash at bank and in hand

 

190,882

349,258

 

519,827

572,193

Creditors: Amounts falling due within one year

6

(137,666)

(298,308)

Net assets

 

382,161

273,885

Capital and reserves

 

Called up share capital

1

1

Profit and loss account

382,160

273,884

Shareholders' funds

 

382,161

273,885

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Statement of Income and Retained Earnings has been taken.

Approved and authorised by the Board on 21 March 2024 and signed on its behalf by:
 

.........................................

G C Grimmer

Director

Company registration number: 10396311

 

Mediatel Audiotrack Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
130 Shaftesbury Avenue
2nd Floor
London
W1D 5EU

The principal place of business is:
114 St. Martin's Lane
Covent Garden
London
WC2N 4BE
United Kingdom

The principal activity of the company is the quality control of radio advertisements.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Summary of significant accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Going concern

The company made a profit for the year and had net assets at the year end of £382,161. Cash at bank at the year end amounted to £190,882. The company has traded profitably for several years and its most recent management accounts indicate that the company remains profitable.

On the basis of the above, and after making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.

 

Mediatel Audiotrack Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company's activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

Tax

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

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 taxable income.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Mediatel Audiotrack Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Audit Report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 22 March 2024 was Darren Bond, who signed for and on behalf of Brebners.

4

Staff numbers

The average number of persons employed by the company during the year, was 4 (2022 - 4).

5

Debtors

2023
£

2022
£

Trade debtors

198,036

191,353

Amounts owed by group undertakings

101,092

28,554

Other debtors

29,817

3,028

328,945

222,935

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Trade creditors

240

636

Amounts owed to group undertakings

4,958

3,989

Taxation and social security

122,973

136,116

Other creditors

9,495

157,567

137,666

298,308

 

Mediatel Audiotrack Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

7

Parent and ultimate parent undertaking

The company's immediate parent is Mediatel Limited, incorporated in England and Wales.

 The ultimate parent is Debuyck Participations SARL, incorporated in France.

Adwanted Group SAS, whose registered office is situated at 40 place du Théâtre - 59800 Lille, France, is the parent of the largest and smallest group preparing consolidated financial statements incorporating the results of the company.