Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31false2023-04-01falsejournalism22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 07418143 2023-04-01 2024-03-31 07418143 2022-04-01 2023-03-31 07418143 2024-03-31 07418143 2023-03-31 07418143 c:Director1 2023-04-01 2024-03-31 07418143 d:ComputerEquipment 2023-04-01 2024-03-31 07418143 d:ComputerEquipment 2024-03-31 07418143 d:ComputerEquipment 2023-03-31 07418143 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 07418143 d:Goodwill 2023-04-01 2024-03-31 07418143 d:Goodwill 2024-03-31 07418143 d:Goodwill 2023-03-31 07418143 d:ComputerSoftware 2024-03-31 07418143 d:ComputerSoftware 2023-03-31 07418143 d:CurrentFinancialInstruments 2024-03-31 07418143 d:CurrentFinancialInstruments 2023-03-31 07418143 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 07418143 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 07418143 d:ShareCapital 2024-03-31 07418143 d:ShareCapital 2023-03-31 07418143 d:RetainedEarningsAccumulatedLosses 2024-03-31 07418143 d:RetainedEarningsAccumulatedLosses 2023-03-31 07418143 c:FRS102 2023-04-01 2024-03-31 07418143 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 07418143 c:FullAccounts 2023-04-01 2024-03-31 07418143 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 07418143 2 2023-04-01 2024-03-31 07418143 d:Goodwill d:OwnedIntangibleAssets 2023-04-01 2024-03-31 07418143 d:ComputerSoftware d:OwnedIntangibleAssets 2023-04-01 2024-03-31 07418143 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 07418143









THE INVESTORS MEDIA COMPANY LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
THE INVESTORS MEDIA COMPANY LTD
REGISTERED NUMBER: 07418143

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 5 
8,000
9,000

Tangible assets
 6 
-
39

  
8,000
9,039

Current assets
  

Debtors: amounts falling due within one year
 7 
3,323
5,646

Cash at bank and in hand
 8 
62,386
64,106

  
65,709
69,752

Creditors: amounts falling due within one year
 9 
(18,918)
(18,944)

Net current assets
  
 
 
46,791
 
 
50,808

Total assets less current liabilities
  
54,791
59,847

  

Net assets
  
54,791
59,847


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
54,691
59,747

  
54,791
59,847


Page 1

 
THE INVESTORS MEDIA COMPANY LTD
REGISTERED NUMBER: 07418143
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

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 year 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 profit and loss account 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: 

A Davis
Director

Date: 24 August 2024

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
THE INVESTORS MEDIA COMPANY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

The Investors Media Company Ltd is a company incorporated in England & Wales under the Companies Act 2006. The address of the registered office is given on the Company information page. The nature of the Company's operations and its principal activities are set out in the Director's report.

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

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

Interest income

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

Page 3

 
THE INVESTORS MEDIA COMPANY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.4

Current and deferred taxation

The tax expense for the year 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.

 
2.5

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Profit and Loss Account over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

The Goodwill is being amortised over 20 years on the basis that this has been assessed as being the appropriate useful life of the asset.

Page 4

 
THE INVESTORS MEDIA COMPANY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.6

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,  .

Depreciation is provided on the following basis:

Computer equipment
-
33%
straight line

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.

 
2.7

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.

 
2.8

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.

 
2.9

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.

 
2.10

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.

Page 5

 
THE INVESTORS MEDIA COMPANY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.11

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgments, estimates and  assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. The nature of estimation means the actual outcomes could differ from those estimates.


4.


Employees




The average monthly number of employees, including directors, during the year was 2 (2023 - 2).


5.


Intangible assets




Domain name
Goodwill
Total

£
£
£



Cost


At 1 April 2023
2,230
20,000
22,230



At 31 March 2024

2,230
20,000
22,230



Amortisation


At 1 April 2023
2,230
11,000
13,230


Charge for the year on owned assets
-
1,000
1,000



At 31 March 2024

2,230
12,000
14,230



Net book value



At 31 March 2024
-
8,000
8,000



At 31 March 2023
-
9,000
9,000



Page 6

 
THE INVESTORS MEDIA COMPANY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Tangible fixed assets





Computer equipment

£



Cost or valuation


At 1 April 2023
3,962



At 31 March 2024

3,962



Depreciation


At 1 April 2023
3,923


Charge for the year on owned assets
39



At 31 March 2024

3,962



Net book value



At 31 March 2024
-



At 31 March 2023
39


7.


Debtors

2024
2023
£
£


Trade debtors
2,798
4,320

Other debtors
525
1,086

Deferred taxation
-
240

3,323
5,646



8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
62,386
64,106

62,386
64,106


Page 7

 
THE INVESTORS MEDIA COMPANY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
-
162

Corporation tax
11,535
11,097

Other taxation and social security
3,645
4,551

Other creditors
115
-

Accruals and deferred income
3,623
3,134

18,918
18,944



10.


Related party transactions

In creditors, there is a Director's loan of £115 (2023: £561 payable to the company) owed by the company. Interest of 0% is paid on this loan and it is repayable on demand.

 
Page 8