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Registration number: 04257410

ARI Consultancy Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2023

 

ARI Consultancy Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 9

 

ARI Consultancy Limited

Company Information

Directors

A M Robinson

C R Dickens

D J O`Driscoll

Registered office

37 Market Square
Witney
Oxon
OX28 6RE

Accountants

ReesRussell LLP
Chartered Accountants
37 Market Square
Witney
Oxfordshire
OX28 6RE

 

ARI Consultancy Limited

(Registration number: 04257410)
Balance Sheet as at 30 September 2023

Note

2023
£

2022
£

Current assets

 

Debtors

6

23,096

39,205

Cash at bank and in hand

 

32,101

71,896

 

55,197

111,101

Creditors: Amounts falling due within one year

7

(224,207)

(30,490)

Total assets less current liabilities

 

(169,010)

80,611

Creditors: Amounts falling due after more than one year

7

(41,250)

(27,500)

Net (liabilities)/assets

 

(210,260)

53,111

Capital and reserves

 

Called up share capital

152

171

Share premium reserve

1,714,435

1,714,435

Retained earnings

(1,924,847)

(1,661,495)

Shareholders' (deficit)/funds

 

(210,260)

53,111

For the financial year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 2 September 2024 and signed on its behalf by:
 

.........................................
A M Robinson
Director

 

ARI Consultancy Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
37 Market Square
Witney
Oxon
OX28 6RE

These financial statements were authorised for issue by the Board on 2 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

ARI Consultancy Limited ("the company") is a company limited by shares and incorporated and domiciled in the UK. The registered number is 04257410 and the registered office is 37 Market Square, Witney, OX28 6RE. The company is exempt from the requirement to prepare group accounts on the basis that it is a small group. These financial statements present information about the company as an invidivudal undertaking and not about its group.

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

The accounting policies set out below have, unless otherwise stated, been applied consistently to all periods presented in these financial statements.

Basis of preparation

The financial statement are prepared on the historical cost basis.

The company has taken advantage of the exemption included in FRS 102 Section 1A.7 Small Entities, not prepare a cash flow statement.

The presentation currency of these financial statements is sterling. There were no material departures from that standard.

Going concern

The financial statements have been prepared on the going concern basis notwithstanding that the balance sheet at 30 September 2023 shows negative net worth.
The net liabilities at the year end comprise loans from directors and shareholders who have not demanded repayment of amounts due. The directors will engage with the creditors to determine the optimum course of action for it to take going forward.

 

ARI Consultancy Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

Judgements

Judgements made by the directors, in the application of these accounting policies that have significant effect on the financial statements and estimates with a significant risk of material adjustment in the next year are discussed in note 11.

Revenue recognition

Turnover excludes value-added tax and represents the fair value of services delivered to customers in the accounting period. Services are deemed to have been delivered to customers when, and to the extent that, the entity has met its obligations under its service contracts.

Foreign currency transactions and balances

Transactions in foreign currencies are recorded using the rates of exchange ruling at the dates of the transactions. Monetary assets and liabilities denominated in foreign currencies are translated using the rates of exchange ruling at the balance sheet date and the gains or losses on translation are included in the profit and loss account.

Tax

Tax on profit or loss for the year comprises current and deferred tax. Tax is recognised in the profit and loss account except to the extent that it relates to items recognised directly in equity or other comprehensive income, in which case it is recognised directly in equity or other comprehensive income.

Current tax is the expected tax payable or receivable on the taxable income or loss for the year, using tax rates enacted or substantively enacted at the balance sheet date, and any adjustment to tax payable in respect of previous years.

Deferred tax is provided on timing differences which arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements. The following timing differences are not provided for: differences between accumulated depreciation and tax allowances for the cost of a fixed asset if and when all conditions for retaining the tax allowances have been met; and differences relating to investments in subsidiaries, to the extent that it is not probable that they will reverse in the foreseeable future and the reporting entity is able to control the reversal of the timing difference. Deffered tax is not recognised on permanent differences arising because certain types of income or expese are non-taxable or are disallowable for tax or because certain tax charges or allowances are greater or smaller than the corresponding income or expense.

Deffered tax is provided in respect of the additional tax that will be paid or avoided on differences between the amount at which an asset or liability is recognised in a business combination and the corresponding amount that can be deducted or assessed for tax. Goodwill is adjusted by the amount of such deferred tax.

Deferred tax is measured at the tax rate that is expected to apply to the reversal of the related difference, using tax rates enacted or substantively enacted at the balance sheet date. Deferred tax balances are not discounted.

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 liablities or other future taxable profits.

Intangible assets

Separately acquired licences are shown at historical cost.

 

ARI Consultancy Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at the present value of future payments discounted at a market rate of interest. Subsequent to initial recognition, interest-bearing borrowings are state at amortised cost using the effective interest method, less any impairment losses.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2022 - 3).

 

ARI Consultancy Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

4

Intangible assets

Licenses
 £

Total
£

Cost or valuation

At 1 October 2022

38,995

38,995

At 30 September 2023

38,995

38,995

Amortisation

At 1 October 2022

38,995

38,995

At 30 September 2023

38,995

38,995

Carrying amount

At 30 September 2023

-

-

5

Investments

Subsidiaries

£

Cost or valuation

At 1 October 2022

315,333

At 30 September 2023

315,333

Provision

At 1 October 2022

315,333

Carrying amount

At 30 September 2023

-

 

ARI Consultancy Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2023

2022

Subsidiary undertakings

Jack Media Oxfordshire Ltd

1st Floor,
Fairclough House,
Church Street,
Chorley,
England,
PR7 4EX

England and Wales

Ordinary

85%

85%

Oxis Media Limited

37 Market Square
Witney
OX28 6RE

England and Wales

Ordinary

85%

85%

Jack Media National Ltd

Begbies Traynor London Llp, 29th Floor, 40 Bank Street, London, E14 5NR

United Kingdom

Ordinary

75%

75%

Subsidiary undertakings

Jack Media Oxfordshire Ltd

The principal activity of Jack Media Oxfordshire Ltd is radio and media broadasting. After the year end the trade and business of the company was sold and on 10 July 2024 a liquidator was appointed to wind up the company.

Oxis Media Limited

The principal activity of Oxis Media Limited is Media Consulting.

Jack Media National Ltd

The principal activity of Jack Media National Ltd is radio and media broadcasting. On 3 June 2024 the company was dissolved.

 

ARI Consultancy Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

6

Debtors

Current

2023
£

2022
£

Other amounts due from subsidiary

20,000

-

Prepayments

-

22,761

Other debtors

3,096

16,444

 

23,096

39,205

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

-

13,750

Accruals and deferred income

 

18,965

16,740

Other creditors

 

205,242

-

 

224,207

30,490

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

41,250

27,500

8

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Other borrowings

41,250

27,500

Current loans and borrowings

2023
£

2022
£

Other borrowings

-

13,750

 

ARI Consultancy Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

9

Related party transactions

The company has made available current account facilities to each of the three directors during the year. The maximum amont outstanding during the year was £12,400 (2022 £12,400) and the outstanding balance at 30 September 2023 was £NIL (2022: £12,400). These amounts are included within debtors at the year end.

The company had a loan balance of £41,250 (2022: £41,250) owed to a shareholder. The shareholder loan is unsecured with an interest rate of 6% and is repayable on demand. The amount is included within creditors at the year end.

Loans to related parties

Subsidiaries

 

Jack Media Oxfordshire Ltd

2023
£

2022
£

At start of period net of provisions

1,407,130

1,491,983

Repaid

-

(84,853)

Impairment

(1,407,130)

(1,407,130)

At end of period net of provisions

-

-

Terms of loans to related parties

The loan as advanced to Jack Media Oxfordshire Ltd is non-interest bearing and repayable on demand. Full provision has been made against the loan advance £2,907,130 (2022: £2,907,130)
 

10

Parent and ultimate parent undertaking

At 30 September 2023 the company was majority owned and controlled by its three executive directors, namely, Clive Dickens, Donnach O'Driscoll and Adrian Robinson.

11

Accounting estimates and judgements

The preparation of these financial statements in conformity with Section 1A of FRS 102 requires management to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets and liabilities, income and expenses. Actual results may differ from these estimates.

Estimates and underlying assumptions are reviewed and revised on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimates are revised and in any future periods affected.

The Board has reviewed the provision against the intercompany balance with JMOL at the year end resulting in a cumulative provision of £2,907,130 (2022: £2,907,130).