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Registered number: 10293745









ECONOSTREAM MEDIA LIMITED








FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023


 
ECONOSTREAM MEDIA LIMITED
REGISTERED NUMBER:10293745

BALANCE SHEET
AS AT 30 NOVEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
 4 
750
750

  
750
750

Current assets
  

Debtors
 5 
301,518
136,691

Cash at bank and in hand
 6 
32,986
53,731

  
334,504
190,422

Creditors: amounts falling due within one year
 7 
(77,971)
(61,742)

Net current assets
  
 
 
256,533
 
 
128,680

Total assets less current liabilities
  
257,283
129,430

Net assets
  
257,283
129,430


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
257,183
129,330

Shareholders' funds
  
257,283
129,430


Page 1


 
ECONOSTREAM MEDIA LIMITED
REGISTERED NUMBER:10293745
    
BALANCE SHEET (CONTINUED)
AS AT 30 NOVEMBER 2023

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 income and retained earnings 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 14 August 2024.




Mr R G Belec
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2


 
ECONOSTREAM MEDIA LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1.


General information

The Company is incorporated in England and Wales and is limited by shares.  The principal activity of the Company is that of provision of information on capital markets.  

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 members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of 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, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

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.

 
2.3

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.

 
2.4

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Page 3


 
ECONOSTREAM MEDIA LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.5

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.

 
2.6

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.

 
2.7

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.


3.


Employees

The Company has no employees other than the directors, who did not receive any remuneration (2022 - £NIL).

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


4.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 December 2022
750



At 30 November 2023
750




Page 4


 
ECONOSTREAM MEDIA LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

5.


Debtors

2023
2022
£
£


Trade debtors
13,668
22,563

Amounts owed by joint ventures and associated undertakings
287,780
114,128

Other debtors
70
-

301,518
136,691



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
32,986
53,731

32,986
53,731



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Corporation tax
38,213
29,693

Other taxation and social security
10,602
8,298

Deferred income
27,451
22,046

Accruals
1,705
1,705

77,971
61,742



8.


Related party transactions

In Touch Capital Markets Ltd is a related party of Econostream Media Limited.
At the year end, an amount of £1,895 (2022 - £3,324) was due from In Touch Capital Markets Limited and is included under debtors.
Econostream Media Limited owns the majority of shares in Econostream News Limited.
At the year end, an amount of £285,885 (2022 - £110,804) was due from Econostream News Ltd and is included under debtors.

Page 5


 
ECONOSTREAM MEDIA LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

9.


Controlling party

The ultimate controlling party is Econostream Holdings Limited by virtue of the fact that they own the majority of the company's ordinary share capital. 

 
Page 6