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Registration number: 09981695

Mediatel Events Limited

Financial Statements

for the Year Ended 31 December 2023

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

 

Mediatel Events Limited

Contents

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3 to 6

 

Mediatel Events Limited

Company Information

Directors

G C Grimmer

N R Mullett

Registered office

130 Shaftesbury Avenue
London
W1D 5EU

Auditor

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

 

Mediatel Events Limited

Statement of Financial Position as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

-

11,754

Current assets

 

Debtors

6

122,675

551,658

Cash at bank and in hand

 

-

141,894

 

122,675

693,552

Creditors: Amounts falling due within one year

7

-

(557,554)

Net current assets

 

122,675

135,998

Total assets less current liabilities

 

122,675

147,752

Creditors: Amounts falling due after more than one year

7

-

(25,077)

Net assets

 

122,675

122,675

Capital and reserves

 

Called up share capital

100

100

Retained earnings

122,575

122,575

Shareholders' funds

 

122,675

122,675

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 20 March 2024 and signed on its behalf by:
 

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

G C Grimmer

Director

Company registration number: 09981695

 

Mediatel Events 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
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 organising conferences and other such events.

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

On 1 January 2023, the company transferred its trade, assets and liabilities to it's parent undertaking at their book value. As transfer took place at book value and no consequential adjustments to the financial statements arose, the directors confirm that they have adopted the going concern concept in the preparation of the financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company's activities. Turnover is shown net of 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.

 

Mediatel Events Limited

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

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises 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.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

20% on cost

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Mediatel Events Limited

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

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.

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 20 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 0 (2022 - 11).

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2023

30,875

30,875

Disposals

(30,875)

(30,875)

At 31 December 2023

-

-

Depreciation

At 1 January 2023

19,121

19,121

Eliminated on disposal

(19,121)

(19,121)

At 31 December 2023

-

-

Carrying amount

At 31 December 2023

-

-

At 31 December 2022

11,754

11,754

 

Mediatel Events Limited

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

6

Debtors

Note

2023
£

2022
£

Trade debtors

 

-

396,429

Amounts owed by parent undertaking

8

122,675

-

Other debtors

 

-

155,229

 

122,675

551,658

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Loans and borrowings

-

8,950

Trade creditors

 

-

18,968

Amounts owed to group undertakings and undertakings in which the company has a participating interest

8

-

119,492

Taxation and social security

 

-

115,787

Accruals and deferred income

 

-

290,048

Other creditors

 

-

4,309

 

-

557,554

Creditors: amounts falling due after more than one year

2023
£

2022
£

Loans and borrowings

-

25,077

8

Related party transactions

Mediatel Limited, a company incorporated in England and Wales, is the sole shareholder of the company. Debtors in respect of this company total £122,625 (2022: Creditor of £119,492) at the year end.

9

Parent and ultimate parent undertaking

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

 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.