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COMPANY REGISTRATION NUMBER: 07771862
Eva International Media Ltd
Filleted Unaudited Financial Statements
31 December 2023
Eva International Media Ltd
Financial Statements
Year Ended 31 December 2023
Contents
Pages
Chartered Accountants Report to the Director on the Preparation of the Unaudited Statutory Financial Statements
1
Statement of Financial Position
2 to 3
Notes to the Financial Statements
4 to 8
Eva International Media Ltd
Chartered Accountants Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of Eva International Media Ltd
Year Ended 31 December 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Eva International Media Ltd for the year ended 31 December 2023, which comprise the statement of financial position and the related notes from the company's 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 www.icaew.com/en/membership/regulations-standards-and-guidance. Our work has been undertaken in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation.
BROOKS & CO. Chartered Accountants
9 Cheam Road Ewell Epsom Surrey KT17 1SP
16 July 2024
Eva International Media Ltd
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
Fixed assets
Intangible assets
5
10,888
6,133
Tangible assets
6
55,529
53,729
--------
--------
66,417
59,862
Current assets
Debtors
7
245,819
340,025
Cash at bank and in hand
699,914
599,027
---------
---------
945,733
939,052
Creditors: amounts falling due within one year
8
260,437
328,228
---------
---------
Net current assets
685,296
610,824
---------
---------
Total assets less current liabilities
751,713
670,686
Provisions
Taxation including deferred tax
8,102
2,328
---------
---------
Net assets
743,611
668,358
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
743,511
668,258
---------
---------
Shareholders funds
743,611
668,358
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- 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 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Eva International Media Ltd
Statement of Financial Position (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 16 July 2024 , and are signed on behalf of the board by:
Miss P Raja
Director
Company registration number: 07771862
Eva International Media Ltd
Notes to the Financial Statements
Year Ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 9 Cheam Road, Ewell, Epsom, Surrey, KT17 1SP, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Website Development
-
Over 5 years
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Office Refurbishment
-
Over 10 years
Fixtures & Fittings
-
33% on cost
Motor vehicles
-
20% on cost
Equipment
-
33% on cost
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 17 (2022: 13 ).
5. Intangible assets
Development costs
£
Cost
At 1 January 2023
56,221
Additions
8,500
--------
At 31 December 2023
64,721
--------
Amortisation
At 1 January 2023
50,088
Charge for the year
3,745
--------
At 31 December 2023
53,833
--------
Carrying amount
At 31 December 2023
10,888
--------
At 31 December 2022
6,133
--------
6. Tangible assets
Land and buildings
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
£
Cost
At 1 January 2023
20,016
17,545
50,583
33,596
121,740
Additions
16,782
16,782
--------
--------
--------
--------
---------
At 31 December 2023
36,798
17,545
50,583
33,596
138,522
--------
--------
--------
--------
---------
Depreciation
At 1 January 2023
9,127
17,545
10,117
31,222
68,011
Charge for the year
3,679
10,116
1,187
14,982
--------
--------
--------
--------
---------
At 31 December 2023
12,806
17,545
20,233
32,409
82,993
--------
--------
--------
--------
---------
Carrying amount
At 31 December 2023
23,992
30,350
1,187
55,529
--------
--------
--------
--------
---------
At 31 December 2022
10,889
40,466
2,374
53,729
--------
--------
--------
--------
---------
7. Debtors
2023
2022
£
£
Trade debtors
240,159
312,584
Other debtors
5,660
27,441
---------
---------
245,819
340,025
---------
---------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
118,092
142,564
Corporation tax
23,489
19,482
Social security and other taxes
21,366
17,329
Other creditors - S/L credit balances
24,438
Other creditors
73,052
148,853
---------
---------
260,437
328,228
---------
---------
9. Director's advances, credits and guarantees
During the year the director, Miss P Raja , advanced loans to the company. These were interest-free and repayable on demand. The amount outstanding at the year end was £ 13,121 (2022: £31,052) and is disclosed in note 9.
10. Related party transactions
The company was under the control of Miss P Raja throughout the year. Miss Raja is a managing director and a sole shareholder. A loan from Miss P Raja subsisted during the year, as disclosed in note 10.