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REGISTERED NUMBER: 07020636 (England and Wales)















COVER MEDIA LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 APRIL 2022 TO 30 MARCH 2023






COVER MEDIA LIMITED (REGISTERED NUMBER: 07020636)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 APRIL 2022 TO 30 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


COVER MEDIA LIMITED

COMPANY INFORMATION
FOR THE PERIOD 1 APRIL 2022 TO 30 MARCH 2023







DIRECTORS: Mr M D Walker
Mr G Marks





REGISTERED OFFICE: 60 Gray's Inn Road
London
WC1X 8LU





REGISTERED NUMBER: 07020636 (England and Wales)





ACCOUNTANTS: Spurling Cannon
Chartered Certified Accountants
424 Margate Road
Westwood
Ramsgate
Kent
CT12 6SJ

COVER MEDIA LIMITED (REGISTERED NUMBER: 07020636)

BALANCE SHEET
30 MARCH 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 4,750 12,250
Tangible assets 5 8,363 8,809
13,113 21,059

CURRENT ASSETS
Debtors 6 121,561 156,170
Cash at bank and in hand 28,509 2,390
150,070 158,560
CREDITORS
Amounts falling due within one year 7 (217,568 ) (328,930 )
NET CURRENT LIABILITIES (67,498 ) (170,370 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(54,385

)

(149,311

)

PROVISIONS FOR LIABILITIES (1,674 ) (1,674 )
NET LIABILITIES (56,059 ) (150,985 )

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (56,061 ) (150,987 )
(56,059 ) (150,985 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 March 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

COVER MEDIA LIMITED (REGISTERED NUMBER: 07020636)

BALANCE SHEET - continued
30 MARCH 2023


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 February 2024 and were signed on its behalf by:





Mr M D Walker - Director


COVER MEDIA LIMITED (REGISTERED NUMBER: 07020636)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 APRIL 2022 TO 30 MARCH 2023

1. STATUTORY INFORMATION

Cover Media 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 Company 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixture & Fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

COVER MEDIA LIMITED (REGISTERED NUMBER: 07020636)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 APRIL 2022 TO 30 MARCH 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 6 (2022 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 30 March 2023 75,000
AMORTISATION
At 1 April 2022 62,750
Charge for period 7,500
At 30 March 2023 70,250
NET BOOK VALUE
At 30 March 2023 4,750
At 31 March 2022 12,250

5. TANGIBLE FIXED ASSETS
Fixture & Computer
Fittings equipment Totals
£    £    £   
COST
At 1 April 2022 1,592 138,181 139,773
Additions 668 1,674 2,342
At 30 March 2023 2,260 139,855 142,115
DEPRECIATION
At 1 April 2022 1,384 129,580 130,964
Charge for period 219 2,569 2,788
At 30 March 2023 1,603 132,149 133,752
NET BOOK VALUE
At 30 March 2023 657 7,706 8,363
At 31 March 2022 208 8,601 8,809

COVER MEDIA LIMITED (REGISTERED NUMBER: 07020636)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 APRIL 2022 TO 30 MARCH 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 61,292 88,860
Sundry debtors - 28,852
VAT - 3,645
Accrued income 57,828 33,755
Prepayments 2,441 1,058
121,561 156,170

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts - 9,431
Other loans 42,507 45,382
Trade creditors 43,027 41,258
Corporation Tax 25,034 24
Social security and other taxes 8,552 14,395
VAT 12,449 -
Sundry creditors 1,401 13,627
Loans 77,091 111,491
Cover Video International (16,036 ) 68,531
Directors' current accounts 5,925 6,218
Deferred income 10,725 11,071
Accrued expenses 6,893 7,502
217,568 328,930

8. GOING CONCERN

These accounts have been prepared on a going concern basis, on the understanding that the directors continue to financially support the company.