Company Registration No. SC599266 (Scotland)
BOX MEDIA HOLDINGS LIMITED (CONSOLIDATED)
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
PAGES FOR FILING WITH REGISTRAR
BOX MEDIA HOLDINGS LIMITED (CONSOLIDATED)
CONTENTS
Page
Accountants' report
1
Group statement of comprehensive income
2
Group balance sheet
3 - 4
Company balance sheet
5 - 6
Group statement of changes in equity
7
Company statement of changes in equity
8
Notes to the financial statements
9 - 17
BOX MEDIA HOLDINGS LIMITED (CONSOLIDATED)
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF BOX MEDIA HOLDINGS LIMITED (CONSOLIDATED) FOR THE YEAR ENDED 31 DECEMBER 2022
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Box Media Holdings Limited (Consolidated) for the year ended 31 December 2022 which comprise, the group statement of comprehensive income, the group balance sheet, the company balance sheet, the group statement of changes in equity, the company statement of changes in equity and the related notes from the 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 Board of Directors of Box Media Holdings Limited (Consolidated), as a body. Our work has been undertaken solely to prepare for your approval the financial statements of Box Media Holdings Limited (Consolidated) and state those matters that we have agreed to state to the Board of Directors of Box Media Holdings Limited (Consolidated), as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Box Media Holdings Limited (Consolidated) and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that Box Media Holdings Limited (Consolidated) 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 loss of Box Media Holdings Limited (Consolidated). You consider that Box Media Holdings Limited (Consolidated) is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Box Media Holdings Limited (Consolidated). 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.

Prydis Accounts Limited
18 January 2024
Chartered Accountants
C/O Prydis
Senate Court
Gary Randall
Southernhay Gardens
Exeter
Devon
EX1 1NT
BOX MEDIA HOLDINGS LIMITED (CONSOLIDATED)
GROUP STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2022
- 2 -
2022
2021
£
£
Loss for the year
(1,456,536)
(1,115,634)
Other comprehensive income
Currency translation differences
(315,371)
(57,290)
Total comprehensive income for the year
(1,771,907)
(1,172,924)
Total comprehensive income for the year is all attributable to the owners of the parent company.
BOX MEDIA HOLDINGS LIMITED (CONSOLIDATED)
GROUP BALANCE SHEET
AS AT
31 DECEMBER 2022
31 December 2022
- 3 -
2022
2021
Notes
£
£
£
£
Fixed assets
Intangible assets
3
1,688,591
1,860,719
Tangible assets
4
24,231
31,295
1,712,822
1,892,014
Current assets
Stocks
327,939
329,035
Debtors
7
870,489
1,150,926
Cash at bank and in hand
10,590
47,440
1,209,018
1,527,401
Creditors: amounts falling due within one year
8
(1,853,204)
(1,103,165)
Net current (liabilities)/assets
(644,186)
424,236
Total assets less current liabilities
1,068,636
2,316,250
Creditors: amounts falling due after more than one year
9
(275,683)
(191,426)
Provisions for liabilities
-
(4,571)
Net assets
792,953
2,120,253
Capital and reserves
Called up share capital
11
5
4
Share premium account
3,470,815
3,026,209
Profit and loss reserves
(2,677,867)
(905,960)
Total equity
792,953
2,120,253

The director of the group have elected not to include a copy of the profit and loss account within the financial statements.

For the financial year ended 31 December 2022 the group was entitled to exemption from audit under section 477 of the Companies Act 2006.

Director's responsibilities under the Companies Act 2006:

 

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

BOX MEDIA HOLDINGS LIMITED (CONSOLIDATED)
GROUP BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2022
31 December 2022
- 4 -
The financial statements were approved by the board of directors and authorised for issue on 18 January 2024 and are signed on its behalf by:
18 January 2024
Ms Clare Munn
Director
BOX MEDIA HOLDINGS LIMITED (CONSOLIDATED)
COMPANY BALANCE SHEET
AS AT 31 DECEMBER 2022
31 December 2022
- 5 -
2022
2021
Notes
£
£
£
£
Fixed assets
Tangible assets
4
1,987
3,592
Investments
5
21,767
21,767
23,754
25,359
Current assets
Debtors
7
3,168,567
2,779,386
Cash at bank and in hand
8,074
23,042
3,176,641
2,802,428
Creditors: amounts falling due within one year
8
(1,087,193)
(513,009)
Net current assets
2,089,448
2,289,419
Total assets less current liabilities
2,113,202
2,314,778
Provisions for liabilities
-
(189)
Net assets
2,113,202
2,314,589
Capital and reserves
Called up share capital
11
5
4
Share premium account
3,470,815
3,026,209
Profit and loss reserves
(1,357,618)
(711,624)
Total equity
2,113,202
2,314,589

As permitted by s408 Companies Act 2006, the company has not presented its own profit and loss account and related notes. The company’s loss for the year was £645,995 (2021 - £580,873 loss).

For the financial year ended 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

BOX MEDIA HOLDINGS LIMITED (CONSOLIDATED)
COMPANY BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2022
31 December 2022
- 6 -
The financial statements were approved by the board of directors and authorised for issue on 18 January 2024 and are signed on its behalf by:
18 January 2024
Ms Clare Munn
Director
Company Registration No. SC599266
BOX MEDIA HOLDINGS LIMITED (CONSOLIDATED)
GROUP STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2022
- 7 -
Share capital
Share premium account
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 January 2021
3
1,914,283
266,964
2,181,250
Year ended 31 December 2021:
Loss for the year
-
-
(1,115,634)
(1,115,634)
Other comprehensive income:
Currency translation differences
-
-
(57,290)
(57,290)
Total comprehensive income for the year
-
-
(1,172,924)
(1,172,924)
Issue of share capital
11
1
1,111,926
-
1,111,927
Balance at 31 December 2021
4
3,026,209
(905,960)
2,120,253
Year ended 31 December 2022:
Loss for the year
-
-
(1,456,536)
(1,456,536)
Other comprehensive income:
Currency translation differences
-
-
(315,371)
(315,371)
Total comprehensive income for the year
-
-
(1,771,907)
(1,771,907)
Issue of share capital
11
1
444,606
-
444,607
Balance at 31 December 2022
5
3,470,815
(2,677,867)
792,953
BOX MEDIA HOLDINGS LIMITED (CONSOLIDATED)
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2022
- 8 -
Share capital
Share premium account
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 January 2021
4
1,914,283
(130,751)
1,783,536
Year ended 31 December 2021:
Loss and total comprehensive income for the year
-
-
(580,873)
(580,873)
Issue of share capital
11
-
0
1,111,926
-
1,111,926
Balance at 31 December 2021
4
3,026,209
(711,624)
2,314,589
Year ended 31 December 2022:
Loss and total comprehensive income for the year
-
-
(645,994)
(645,994)
Issue of share capital
11
1
444,606
-
444,607
Balance at 31 December 2022
5
3,470,815
(1,357,618)
2,113,202
BOX MEDIA HOLDINGS LIMITED (CONSOLIDATED)
NOTES TO THE GROUP FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
- 9 -
1
Accounting policies
Company information

Box Media Holdings Ltd (“the company”) is a private limited company domiciled and incorporated in Scotland. The registered office is .

 

The group consists of Box Media Holdings Ltd and all of its subsidiaries.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Business combinations

In the parent company financial statements, the cost of a business combination is the fair value at the acquisition date of the assets given, equity instruments issued and liabilities incurred or assumed, plus costs directly attributable to the business combination. The excess of the cost of a business combination over the fair value of the identifiable assets, liabilities and contingent liabilities acquired is recognised as goodwill. The cost of the combination includes the estimated amount of contingent consideration that is probable and can be measured reliably, and is adjusted for changes in contingent consideration after the acquisition date. Provisional fair values recognised for business combinations in previous periods are adjusted retrospectively for final fair values determined in the 12 months following the acquisition date. Investments in subsidiaries, joint ventures and associates are accounted for at cost less impairment.

 

Deferred tax is recognised on differences between the value of assets (other than goodwill) and liabilities recognised in a business combination accounted for using the purchase method and the amounts that can be deducted or assessed for tax, considering the manner in which the carrying amount of the asset or liability is expected to be recovered or settled. The deferred tax recognised is adjusted against goodwill or negative goodwill.

1.3
Basis of consolidation

The consolidated group financial statements consist of the financial statements of the parent company Box Media Holdings Ltd together with all entities controlled by the parent company (its subsidiaries) and the group’s share of its interests in joint ventures and associates.

 

All financial statements are made up to 31 December 2022. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the group.

 

All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.

Subsidiaries are consolidated in the group’s financial statements from the date that control commences until the date that control ceases.

BOX MEDIA HOLDINGS LIMITED (CONSOLIDATED)
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
1
Accounting policies
(Continued)
- 10 -
1.4
Going concern

These financial statements are prepared on the going concern basis. The director has a reasonable expectation that the group will continue in operational existence for the foreseeable future. However, the director is aware of certain material uncertainties which may cause doubt on the group's ability to continue as a going concern.

1.5
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.6
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of a business over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.

1.7
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold land and buildings
25% Straight line method
Fixtures and fittings
25% Straight line method
Computers
25% Straight line method
Motor vehicles
25% Straight line method

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account.

1.8
Fixed asset investments

In the parent company financial statements, investments in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.

A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

BOX MEDIA HOLDINGS LIMITED (CONSOLIDATED)
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
1
Accounting policies
(Continued)
- 11 -
1.9
Impairment of fixed assets

At each reporting period end date, the group reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

 

The carrying amount of the investments accounted for using the equity method is tested for impairment as a single asset. Any goodwill included in the carrying amount of the investment is not tested separately for impairment.

1.10
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.11
Financial instruments

The group has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the group's balance sheet when the group becomes party to the contractual provisions of the instrument.

 

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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

 

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

 

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

BOX MEDIA HOLDINGS LIMITED (CONSOLIDATED)
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
1
Accounting policies
(Continued)
- 12 -
Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the group transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the group after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

 

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities

Financial liabilities are derecognised when the group's contractual obligations expire or are discharged or cancelled.

1.12
Equity instruments

Equity instruments issued by the group are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the group.

1.13
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

BOX MEDIA HOLDINGS LIMITED (CONSOLIDATED)
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
1
Accounting policies
(Continued)
- 13 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The group’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset if, and only if, there is a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.14
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.15
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.16
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

1.17
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

BOX MEDIA HOLDINGS LIMITED (CONSOLIDATED)
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
- 14 -
2
Employees

The average monthly number of persons (including directors) employed by the group and company during the year was:

Group
Company
2022
2021
2022
2021
Number
Number
Number
Number
Total
12
15
5
5
3
Intangible fixed assets
Group
Goodwill
Other Intangible
Total
£
£
£
Cost
At 1 January 2022
2,146,301
358,308
2,504,609
Exchange adjustments
-
0
42,502
42,502
At 31 December 2022
2,146,301
400,810
2,547,111
Amortisation and impairment
At 1 January 2022
643,890
-
0
643,890
Amortisation charged for the year
214,630
-
0
214,630
At 31 December 2022
858,520
-
0
858,520
Carrying amount
At 31 December 2022
1,287,781
400,810
1,688,591
At 31 December 2021
1,502,411
358,308
1,860,719
BOX MEDIA HOLDINGS LIMITED (CONSOLIDATED)
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
- 15 -
4
Tangible fixed assets
Group
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 January 2022
3,700
54,973
58,673
Additions
-
0
2,350
2,350
Other changes
863
3,189
4,052
At 31 December 2022
4,563
60,512
65,075
Depreciation and impairment
At 1 January 2022
2,957
24,421
27,378
Depreciation charged in the year
-
0
9,965
9,965
Other changes
776
2,725
3,501
At 31 December 2022
3,733
37,111
40,844
Carrying amount
At 31 December 2022
830
23,401
24,231
At 31 December 2021
743
30,552
31,295
Company
Plant and machinery etc
£
Cost
At 1 January 2022 and 31 December 2022
6,423
Depreciation and impairment
At 1 January 2022
2,831
Depreciation charged in the year
1,605
At 31 December 2022
4,436
Carrying amount
At 31 December 2022
1,987
At 31 December 2021
3,592
BOX MEDIA HOLDINGS LIMITED (CONSOLIDATED)
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
- 16 -
5
Fixed asset investments
Group
Company
2022
2021
2022
2021
£
£
£
£
Shares in group undertakings and participating interests
-
0
-
0
21,767
21,767
The company had no fixed asset investments movement in 2022 and 2021.
6
Subsidiaries

Details of the company's subsidiaries at 31 December 2022 are as follows:

Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Boxspring Entertainment LLC
100 School Street #13, Danville, CA 94526, USA
Ordinary
100.00
Box Media Agency Ltd
12 Hope Street, Edinburgh, EH2 4DB
Ordinary
100.00
7
Debtors
Group
Company
2022
2021
2022
2021
Amounts falling due within one year:
£
£
£
£
Trade debtors
2,249
-
0
-
0
-
0
Corporation tax recoverable
-
0
123,380
-
0
79,993
Amounts owed by group
-
-
3,152,839
2,682,339
Other debtors
868,240
1,027,546
15,728
17,054
870,489
1,150,926
3,168,567
2,779,386
8
Creditors: amounts falling due within one year
Group
Company
2022
2021
2022
2021
£
£
£
£
Trade creditors
544,275
483,433
12,215
5,064
Taxation and social security
92,963
62,944
30,418
28,666
Other creditors
1,215,966
556,788
1,044,560
479,279
1,853,204
1,103,165
1,087,193
513,009
BOX MEDIA HOLDINGS LIMITED (CONSOLIDATED)
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
- 17 -
9
Creditors: amounts falling due after more than one year
Group
Company
2022
2021
2022
2021
£
£
£
£
Bank loans and overdrafts
275,683
191,426
-
0
-
0
Convertible loans
-
0
-
0
-
0
-
0
Corporation tax payable
-
0
-
0
-
0
-
0
Taxation and social security
-
-
-
0
-
0
Trade creditors
-
0
-
0
-
0
-
0
Amounts owed to group undertakings
-
0
-
0
-
0
-
0
Preference dividends payable
-
0
-
0
-
0
-
0
Other creditors
-
0
-
0
-
0
-
0
Payable by instalments
-
-
-
-
Payable other than by instalments
-
-
-
-
10
Loans and overdrafts
Group
Company
2022
2021
2022
2021
£
£
£
£
Bank loans
275,683
191,426
-
0
-
0
Other loans
989,026
448,000
909,026
448,000
1,264,709
639,426
909,026
448,000
Payable within one year
989,026
448,000
909,026
448,000
Payable after one year
275,683
191,426
-
0
-
0
11
Share capital
Group and company
2022
2021
2022
2021
Ordinary share capital
Number
Number
£
£
Issued and fully paid
of 0.001p each
457,147
414,817
5
4
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