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REGISTERED NUMBER: NI036306 (Northern Ireland)












Unaudited Financial Statements

for the Year Ended 30 November 2023

for

The Creative Media Company (NI) Limited

The Creative Media Company (NI) Limited (Registered number: NI036306)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


The Creative Media Company (NI) Limited

Company Information
for the Year Ended 30 November 2023







DIRECTOR: Mr M Isherwood



SECRETARY: Mrs S Isherwood



REGISTERED OFFICE: 28 - 30 Old Mountfield Road
Omagh
Co. Tyrone
BT79 7BJ



REGISTERED NUMBER: NI036306 (Northern Ireland)



ACCOUNTANTS: HMCI Limited
T/A Hamill McIlwaine
28-30 Old Mountfield Road
Omagh
Co. Tyrone
BT79 7BJ



BANKERS: Ulster Bank
14 High Street
Omagh
Co. Tyrone
BT78 1BJ

The Creative Media Company (NI) Limited (Registered number: NI036306)

Balance Sheet
30 November 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 83,369 66,436
83,369 66,436

CURRENT ASSETS
Stocks 355,266 303,266
Debtors 6 687,861 537,076
Cash at bank 10,125 10
1,053,252 840,352
CREDITORS
Amounts falling due within one year 7 809,490 623,599
NET CURRENT ASSETS 243,762 216,753
TOTAL ASSETS LESS CURRENT
LIABILITIES

327,131

283,189

CREDITORS
Amounts falling due after more than one
year

8

132,805

164,903
NET ASSETS 194,326 118,286

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 194,226 118,186
SHAREHOLDERS' FUNDS 194,326 118,286

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The Creative Media Company (NI) Limited (Registered number: NI036306)

Balance Sheet - continued
30 November 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved and authorised for issue by the director and authorised for issue on 4 July 2024 and were signed by:





Mr M Isherwood - Director


The Creative Media Company (NI) Limited (Registered number: NI036306)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

The Creative Media Company (NI) Limited is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The principal accounting policies which have been applied consistently throughout the year, are set out below.

Turnover
Turnover represents the invoiced value of services supplied during the year excluding value added tax. Revenue is recognised upon invoicing, which is when title to the product is transferred to the customer.

Tangible fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation.

The cost of tangible fixed assets is their purchases cost, together with any incidental costs of acquisition. Depreciation is calculated so as to write off the cost of tangible fixed assets less their estimated residual values, on a straight line basis over the expected useful economic lives of the assets concerned. The principal annual rates are:

%
Leasehold improvements2
Fixtures and fittings 10

Stocks
Work in progress represents the value of the time incurred to date by our staff on on-going projects. Where applicable direct outlays are also included. If required the value of WIP is reduced to Net Realisable Value if this is considered lower than the costs incurred.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


The Creative Media Company (NI) Limited (Registered number: NI036306)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Research and development
Expenditure on research and development is capitalised in the year in which it is incurred and is held as an intangible asset on the balance sheet and is to be amortised over its useful life.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2022 - 15 ) .

4. INTANGIBLE FIXED ASSETS
Research
& Developm
£   
COST
At 1 December 2022
and 30 November 2023 30,850
AMORTISATION
At 1 December 2022
and 30 November 2023 30,850
NET BOOK VALUE
At 30 November 2023 -
At 30 November 2022 -

The Creative Media Company (NI) Limited (Registered number: NI036306)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

5. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 December 2022 167,872
Additions 22,083
At 30 November 2023 189,955
DEPRECIATION
At 1 December 2022 101,436
Charge for year 5,150
At 30 November 2023 106,586
NET BOOK VALUE
At 30 November 2023 83,369
At 30 November 2022 66,436

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 316,851 301,395
Other debtors 371,010 235,681
687,861 537,076

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 215,932 109,389
Trade creditors 271,471 138,052
Taxation and social security 253,553 290,072
Other creditors 68,534 86,086
809,490 623,599

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 132,805 164,903

The Creative Media Company (NI) Limited (Registered number: NI036306)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 321,378 257,082

Security

Personal guarantee from Marcus and Sandra Isherwood for £200,000.
Charge over life policy held by the company for Mr M Isherwood.
The company entered into a debenture granting the first fixed charge over company assets.

10. RELATED PARTY DISCLOSURES

Amounts owed from the director amount to £280,445 (2022: £180,841) and are included in other debtors (note 8).