Caseware UK (AP4) 2023.0.135 2023.0.135 2023-06-302023-06-30The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.Broadcasting,consultancy, mobile and business development services2022-07-01false1012truetrue 04247285 2022-07-01 2023-06-30 04247285 2021-07-01 2022-06-30 04247285 2023-06-30 04247285 2022-06-30 04247285 c:Director1 2022-07-01 2023-06-30 04247285 d:FurnitureFittings 2022-07-01 2023-06-30 04247285 d:ComputerEquipment 2022-07-01 2023-06-30 04247285 d:OtherPropertyPlantEquipment 2022-07-01 2023-06-30 04247285 d:CurrentFinancialInstruments 2023-06-30 04247285 d:CurrentFinancialInstruments 2022-06-30 04247285 d:Non-currentFinancialInstruments 2023-06-30 04247285 d:Non-currentFinancialInstruments 2022-06-30 04247285 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 04247285 d:CurrentFinancialInstruments d:WithinOneYear 2022-06-30 04247285 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 04247285 d:Non-currentFinancialInstruments d:AfterOneYear 2022-06-30 04247285 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-06-30 04247285 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-06-30 04247285 d:ShareCapital 2023-06-30 04247285 d:ShareCapital 2022-06-30 04247285 d:RetainedEarningsAccumulatedLosses 2023-06-30 04247285 d:RetainedEarningsAccumulatedLosses 2022-06-30 04247285 c:FRS102 2022-07-01 2023-06-30 04247285 c:AuditExempt-NoAccountantsReport 2022-07-01 2023-06-30 04247285 c:FullAccounts 2022-07-01 2023-06-30 04247285 c:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 04247285 d:WithinOneYear 2023-06-30 04247285 d:WithinOneYear 2022-06-30 04247285 d:BetweenOneFiveYears 2023-06-30 04247285 d:BetweenOneFiveYears 2022-06-30 04247285 2 2022-07-01 2023-06-30 iso4217:GBP xbrli:pure

Registered number: 04247285









VISIONAL MEDIA LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2023

 
VISIONAL MEDIA LIMITED
REGISTERED NUMBER: 04247285

BALANCE SHEET
AS AT 30 JUNE 2023

2023
2022
Note
£
£

  

Current assets
  

Debtors: amounts falling due after more than one year
 5 
370,782
522,159

Debtors: amounts falling due within one year
 5 
1,860,951
1,100,744

Cash at bank and in hand
  
12,395
25,024

  
2,244,128
1,647,927

Creditors: amounts falling due within one year
 6 
(925,361)
(850,893)

Net current assets
  
 
 
1,318,767
 
 
797,034

Total assets less current liabilities
  
1,318,767
797,034

Creditors: amounts falling due after more than one year
 7 
(25,833)
(35,833)

  

Net assets
  
1,292,934
761,201


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
1,292,834
761,101

  
1,292,934
761,201


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 year 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.

Page 1

 
VISIONAL MEDIA LIMITED
REGISTERED NUMBER: 04247285
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2023

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 1 August 2023.




Stephen Bramhall
Director

The notes on pages 3 to 9 form part of these financial statements.
Page 2

 
VISIONAL MEDIA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1.


General information

Visional Media Limited is a private company limited by share capital, incorporated in England and Wales, registration number 04247285. The address of the registered office is 30 Orange Street, London, WC2H 7HF.

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

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 for services provided in the accounting period.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

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.

 
2.5

Borrowing costs

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

 
2.6

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.

 
2.7

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.

Page 3

 
VISIONAL MEDIA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)


2.7
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures & fittings
-
33.3% straight line
Computer equipment
-
33.3% straight line
Software
-
33.3% straight line

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.

 
2.8

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.

 
2.9

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.

 
2.10

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income including profit and loss account.
Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an 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.

 
2.11

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 4

 
VISIONAL MEDIA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.12

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
2.13

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.14

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.


3.


Employees

The average monthly number of employees, including directors, during the year was 10 (2022 - 12).

Page 5

 
VISIONAL MEDIA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

4.


Taxation


2023
2022
£
£



Total current tax
-
-

Factors affecting tax charge for the year

The tax charge that would have arisen based on the profit on ordinary activities at the standard rate of corporation tax in the UK of 20.5% (2022 - 19%) has been eliminated as a result of the utilisation of group losses.


Factors that may affect future tax charges

There were no factors that may affect future tax charges.


5.


Debtors

2023
2022
£
£

Due after more than one year

Amounts owed by group undertakings
370,782
522,159

370,782
522,159


2023
2022
£
£

Due within one year

Trade debtors
207,794
165,517

Amounts owed by group undertakings
1,514,326
824,706

Other debtors
45,306
34,364

Prepayments and accrued income
93,525
76,157

1,860,951
1,100,744


Page 6

 
VISIONAL MEDIA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loan
10,000
10,000

Trade creditors
302,989
238,881

Amounts owed to group undertakings
508,504
521,316

Other taxation and social security
72,836
41,465

Other creditors
14,792
15,576

Accruals and deferred income
16,240
23,655

925,361
850,893


A coronavirus bounce back loan of £50,000 was taken out during the previous year which was interest free for the first 12 months followed by interest at the rate of 2.5% per annum from 5th January 2022. The amount repayable after 12 months is shown within creditors falling due after more than one year.


7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loan
25,833
35,833

25,833
35,833


Page 7

 
VISIONAL MEDIA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

8.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loan
10,000
10,000


10,000
10,000


Amounts falling due 2-5 years

Bank loan
25,833
35,833


25,833
35,833


35,833
45,833



9.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £5,124 (2022 - £7,032). 

Page 8

 
VISIONAL MEDIA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023


10.


Commitments under operating leases

At 30 June 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
87,240
-

Later than 1 year and not later than 5 years
170,845
-

258,085
-

 
Page 9