Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.true2023-01-01false99999 - Dormant Company22truefalse 13639517 2023-01-01 2023-12-31 13639517 2022-01-01 2022-12-31 13639517 2023-12-31 13639517 2022-12-31 13639517 c:Director1 2023-01-01 2023-12-31 13639517 d:ComputerEquipment 2023-01-01 2023-12-31 13639517 d:ComputerEquipment 2023-12-31 13639517 d:ComputerEquipment 2022-12-31 13639517 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 13639517 d:CurrentFinancialInstruments 2023-12-31 13639517 d:CurrentFinancialInstruments 2022-12-31 13639517 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 13639517 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 13639517 d:ShareCapital 2023-12-31 13639517 d:ShareCapital 2022-12-31 13639517 d:RetainedEarningsAccumulatedLosses 2023-12-31 13639517 d:RetainedEarningsAccumulatedLosses 2022-12-31 13639517 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 13639517 d:AcceleratedTaxDepreciationDeferredTax 2022-12-31 13639517 c:OrdinaryShareClass1 2023-01-01 2023-12-31 13639517 c:OrdinaryShareClass1 2023-12-31 13639517 c:OrdinaryShareClass1 2022-12-31 13639517 c:FRS102 2023-01-01 2023-12-31 13639517 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 13639517 c:FullAccounts 2023-01-01 2023-12-31 13639517 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 13639517 e:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 13639517










MEDIAFELLOWS UK LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 DECEMBER 2023

 
MEDIAFELLOWS UK LTD
REGISTERED NUMBER: 13639517

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
-
1,965

  
-
1,965

Current assets
  

Debtors: amounts falling due within one year
 5 
-
12,300

Cash at bank and in hand
 6 
43,984
16,305

  
43,984
28,605

Creditors: amounts falling due within one year
 7 
(8,632)
(14,123)

Net current assets
  
 
 
35,352
 
 
14,482

Total assets less current liabilities
  
35,352
16,447

Provisions for liabilities
  

Deferred tax
 8 
-
(373)

  
 
 
-
 
 
(373)

Net assets
  
35,352
16,074


Capital and reserves
  

Called up share capital 
 9 
1
1

Profit and loss account
  
35,351
16,073

  
35,352
16,074


Page 1

 
MEDIAFELLOWS UK LTD
REGISTERED NUMBER: 13639517

BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The director considers 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 period in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his 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.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




T Graf-Oettel
Director

Date: 17 April 2024

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

Page 2

 
MEDIAFELLOWS UK LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

1.


General information

Mediafellows UK Ltd is a private company limited by shares, registered and incorporated in England and Wales. The Company's registered office is C/O Pixelogic Media Uk Ltd, 19-22 Rathbone Place, London, W1T 1HY.
The Company ceased trading on 31 March 2023.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Going concern

The accounts have not been prepared on a going concern basis. The Company stopped trading on 31 March 2023.

 
2.3

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.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
MEDIAFELLOWS UK LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

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, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.5

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.

Page 4

 
MEDIAFELLOWS UK LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.6

Current and deferred taxation

The tax expense for the period comprises current and deferred tax. 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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
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.

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:

Computer equipment
-
3 Years

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.

Page 5

 
MEDIAFELLOWS UK LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
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

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.

 
2.11

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.12

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.


3.


Employees

The average monthly number of employees, including directors, during the period was 0 (2022 - 2).






Page 6

 
MEDIAFELLOWS UK LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Computer equipment

£





At 1 January 2023
3,332


Disposals
(3,332)



At 31 December 2023

-





At 1 January 2023
1,367


Charge for the period on owned assets
278


Disposals
(1,645)



At 31 December 2023

-



Net book value



At 31 December 2023
-



At 31 December 2022
1,965


5.


Debtors

2023
2022
£
£


Trade debtors
-
12,300

-
12,300



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
43,984
16,305


Page 7

 
MEDIAFELLOWS UK LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

7.


Creditors: amounts falling due within one year

2023
2022
£
£

Amounts owed to group undertakings
1,420
2,725

Corporation tax
4,962
3,162

Other taxation and social security
-
5,986

Accruals and deferred income
2,250
2,250

8,632
14,123


The amounts owed to group undertakings is in respect of a loan from the parent company. Interest at 3.5% per annum is charged on the loan. The loan is repayable within one year.


8.


Deferred taxation




2023


£






At beginning of year
(373)


Charged to profit or loss
373



At end of year
-

The deferred taxation balance is made up as follows:

2023
2022
£
£


Accelerated capital allowances
-
(373)

-
(373)


9.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1 (2022 - 1) Ordinary share of £1.00
1
1



10.


Pension commitments

Until June 2022, the Company operated a defined contributions pension scheme. The assets of the scheme were 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 £Nil (2022: £788). Contributions totalling £Nil (2022 - £Nil) were payable to the fund at the balance sheet date.

Page 8

 
MEDIAFELLOWS UK LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

11.


Controlling party

The controlling party is Mediafellows GMBH.


Page 9