Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31false2023-01-01falseOther information service activities not elsewhere classified88truefalse 13696689 2023-01-01 2023-12-31 13696689 2021-10-21 2022-12-31 13696689 2023-12-31 13696689 2022-12-31 13696689 2 2023-01-01 2023-12-31 13696689 2 2021-10-21 2022-12-31 13696689 d:Director1 2023-01-01 2023-12-31 13696689 e:ComputerEquipment 2023-01-01 2023-12-31 13696689 e:ComputerEquipment 2023-12-31 13696689 e:ComputerEquipment 2022-12-31 13696689 e:ComputerEquipment e:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 13696689 e:CurrentFinancialInstruments 2023-12-31 13696689 e:CurrentFinancialInstruments 2022-12-31 13696689 e:CurrentFinancialInstruments e:WithinOneYear 2023-12-31 13696689 e:CurrentFinancialInstruments e:WithinOneYear 2022-12-31 13696689 e:ShareCapital 2023-01-01 2023-12-31 13696689 e:ShareCapital 2023-12-31 13696689 e:ShareCapital 2021-10-21 2022-12-31 13696689 e:ShareCapital 2022-12-31 13696689 e:OtherMiscellaneousReserve 2023-01-01 2023-12-31 13696689 e:OtherMiscellaneousReserve 2023-12-31 13696689 e:OtherMiscellaneousReserve 2 2023-01-01 2023-12-31 13696689 e:OtherMiscellaneousReserve 2021-10-21 2022-12-31 13696689 e:OtherMiscellaneousReserve 2022-12-31 13696689 e:OtherMiscellaneousReserve 2 2021-10-21 2022-12-31 13696689 e:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 13696689 e:RetainedEarningsAccumulatedLosses 2023-12-31 13696689 e:RetainedEarningsAccumulatedLosses 2 2023-01-01 2023-12-31 13696689 e:RetainedEarningsAccumulatedLosses 2021-10-21 2022-12-31 13696689 e:RetainedEarningsAccumulatedLosses 2022-12-31 13696689 e:RetainedEarningsAccumulatedLosses 2 2021-10-21 2022-12-31 13696689 d:OrdinaryShareClass1 2023-01-01 2023-12-31 13696689 d:OrdinaryShareClass1 2023-12-31 13696689 d:OrdinaryShareClass1 2022-12-31 13696689 d:FRS102 2023-01-01 2023-12-31 13696689 d:Audited 2023-01-01 2023-12-31 13696689 d:FullAccounts 2023-01-01 2023-12-31 13696689 d:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 13696689 d:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 13696689 2 2023-01-01 2023-12-31 13696689 f:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 13696689









3S MEDIA INTERNATIONAL LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023




 
3S MEDIA INTERNATIONAL LIMITED
REGISTERED NUMBER:13696689

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible Fixed Assets
 4 
14,966
10,591

  
14,966
10,591

Current assets
  

Debtors: amounts falling due within one year
 5 
388,213
122,131

Cash at bank and in hand
  
263,268
123,757

  
651,481
245,888

Creditors: amounts falling due within one year
 6 
(302,364)
(128,474)

Net current assets
  
 
 
349,117
 
 
117,414

Total assets less current liabilities
  
364,083
128,005

  

Net assets
  
364,083
128,005


Capital and reserves
  

Called up share capital 
 7 
100,000
100,000

Capital Contribution reserve
  
1,930,732
840,864

Profit and loss account
  
(1,666,649)
(812,859)

  
364,083
128,005

Page 1

 
3S MEDIA INTERNATIONAL LIMITED
REGISTERED NUMBER:13696689
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

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 on 30 July 2024.




Zachary Clayton
Director

The notes on pages 5 to 10 form part of these financial statements.

Page 2

 
3S MEDIA INTERNATIONAL LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023


Called up share capital
Capital contribution reserve
Profit and loss account
Total equity

£
£
£
£

At 1 January 2023
100,000
840,864
(812,859)
128,005



Loss for the year

-
-
(853,790)
(853,790)


Other comprehensive income for the year
-
-
-
-


Total comprehensive income for the year
-
-
(853,790)
(853,790)


Contributions by and distributions to owners

Capital contributions during the period
-
1,089,868
-
1,089,868


Total transactions with owners
-
1,089,868
-
1,089,868


At 31 December 2023
100,000
1,930,732
(1,666,649)
364,083


The notes on pages 5 to 10 form part of these financial statements.

Page 3

 
3S MEDIA INTERNATIONAL LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2022


Called up share capital
Capital contribution reserve
Profit and loss account
Total equity

£
£
£
£



Loss for the period

-
-
(812,859)
(812,859)


Other comprehensive income for the period
-
-
-
-


Total comprehensive income for the period
-
-
(812,859)
(812,859)


Contributions by and distributions to owners

Shares issued during the period
100,000
-
-
100,000

Capital contributions during the period
-
840,864
-
840,864


Total transactions with owners
100,000
840,864
-
940,864


At 31 December 2022
100,000
840,864
(812,859)
128,005


The notes on pages 5 to 10 form part of these financial statements.

Page 4

 
3S MEDIA INTERNATIONAL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

3S Media International Limited is a private company, limited by shares, domiciled and incorporated in England and Wales (registered number 13696689).
The registered office address is 45 Gresham Street, London, EC2V 7BJ.
The company's functional and presentational currency is GBP.

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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

  
2.2

Going concern

At the time of approving the financial statements, the director has a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future, subject to the continued financial support of Three Ships LLC, the immediate parent Company. 
The Company is reliant on the continued support & further funding from Three Ships LLC. The Company’s immediate parent undertaking has provided a letter of support confirming they will continue to provide sufficient financial support to enable the
Company to settle its financial obligations as they full due, and therefore support the Company in operational existence for the foreseeable future, being a minimum period of 12 months from the date of approval of these financial statements. Three Ships LLC have confirmed that all funding advanced to the Company as at 31 December 2023 is considered to be a permanent equity investment in the Company, and accordingly this is not due for repayment by the Company. Any further funding advanced since 31 December 2023, even where not considered an equity investment, will not be recalled or demanded from the Company, except that the financial position of the Company permits repayment and that such repayment will not adversely affect the ability of the Company to carry on its business operations as a going concern.
It is on this basis that the financial statements have been prepared on a going concern basis. 

Page 5

 
3S MEDIA INTERNATIONAL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
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'.

 
2.4

Revenue recognition

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:

Revenues are recognised at a point in time when the related leads have been generated through Company content and commissions have been earned in accordance with the applicable contract, subject to return rates.

 
2.5

Interest income

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

 
2.6

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.

Page 6

 
3S MEDIA INTERNATIONAL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
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
-
25%

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

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

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 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.

Page 7

 
3S MEDIA INTERNATIONAL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

3.


Employees

The average monthly number of employees, including directors, during the year was 11 (2022 - 8).


4.


Tangible fixed assets





Computer equipment

£



Cost or valuation


At 1 January 2023
10,591


Additions
10,762



At 31 December 2023

21,353



Depreciation


Charge for the year on owned assets
6,387



At 31 December 2023

6,387



Net book value



At 31 December 2023
14,966



At 31 December 2022
10,591
Page 8

 
3S MEDIA INTERNATIONAL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Debtors

2023
2022
£
£


Trade debtors
366,853
35,105

Other debtors
15,960
10,736

Prepayments and accrued income
5,400
76,290

388,213
122,131



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
42,338
21,891

Other taxation and social security
81,566
21,950

Other creditors
7,678
8,745

Accruals and deferred income
170,782
75,888

302,364
128,474



7.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100,000 (2022 -100,000) Ordinary shares of £1.00 each
100,000
100,000


On 21 October 2021, the company issued 100,000 Ordinary shares of £1 for a total consideration
£100,000.


8.


Related party transactions

The company has taken advantage of the exemption in FRS 102 Section 33.1A to not disclose transactions with wholly owned group entities.


9.


Controlling party

The controlling party is Three Ships LLC registered in the US, by virtue of 100% shareholding.

Page 9

 
3S MEDIA INTERNATIONAL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

10.


Auditor's information

The auditor's report on the financial statements for the year ended 31 December 2023 was unqualified.

In their report, the auditor emphasised the following matter without qualifying their report:
We draw attention to note 2.2 of the financial statements, which describes the Company's reliance on the immediate parent undertaking for support. Our opinion is not modified in respect of this matter.

The audit report was signed on 30 July 2024 by Stephen Drew (Senior Statutory Auditor) on behalf of CLA Evelyn Partners Limited.

Page 10