HIGHGRADE MEDIA CIC

Company limited by guarantee

Company Registration Number:
10349725 (England and Wales)

Unaudited statutory accounts for the year ended 31 December 2023

Period of accounts

Start date: 1 January 2023

End date: 31 December 2023

HIGHGRADE MEDIA CIC

Contents of the Financial Statements

for the Period Ended 31 December 2023

Profit and loss
Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

HIGHGRADE MEDIA CIC

Profit And Loss Account

for the Period Ended 31 December 2023

2023 2022


£

£
Turnover: 73 27,095
Cost of sales: ( 38,959 )
Gross profit(or loss): 73 (11,864)
Administrative expenses: ( 2,401 ) ( 4,193 )
Operating profit(or loss): (2,328) (16,057)
Profit(or loss) before tax: (2,328) (16,057)
Profit(or loss) for the financial year: (2,328) (16,057)

HIGHGRADE MEDIA CIC

Balance sheet

As at 31 December 2023

Notes 2023 2022


£

£
Current assets
Debtors: 3 44 3,121
Cash at bank and in hand: 516 1,696
Total current assets: 560 4,817
Prepayments and accrued income: 50
Creditors: amounts falling due within one year: 4 ( 41 ) ( 1,920 )
Net current assets (liabilities): 569 2,897
Total assets less current liabilities: 569 2,897
Total net assets (liabilities): 569 2,897
Members' funds
Profit and loss account: 569 2,897
Total members' funds: 569 2,897

The notes form part of these financial statements

HIGHGRADE MEDIA CIC

Balance sheet statements

For the year ending 31 December 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 13 September 2024
and signed on behalf of the board by:

Name: Mr Mark Derek Slade
Status: Director

The notes form part of these financial statements

HIGHGRADE MEDIA CIC

Notes to the Financial Statements

for the Period Ended 31 December 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Basis of preparation: The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.The financial statements are prepared in sterling, which is the functional currency of the entity. Revenue recognition: Revenue received in respect of contract delivery is recognised by reference to the stage of completion of each contract.

    Valuation information and policy

    Financial instruments: The company has chosen to adopt the Sections 11 and 12 of FRS 102 in respect of financial instruments. A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of theinstrument. Financial assets: Basic financial assets, including trade and other receivables, cash and bank balances, loans to fellow group companies and investments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future receipts discounted at a market rate of interest for a similar debt instrument. Such assets are subsequently carried at amortised cost, using the effective interest method. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of eachreporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously beenrecognised. Financial liabilities: Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is recognised at the present value of the future payments discounted at a market rate of interest for asimilar debt instrument. Debt instruments are subsequently measured at amortised cost, using the effective interest method. Trade payables 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 payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method

    Other accounting policies

    Foreign currencies: Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchangerate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

HIGHGRADE MEDIA CIC

Notes to the Financial Statements

for the Period Ended 31 December 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 0 0

HIGHGRADE MEDIA CIC

Notes to the Financial Statements

for the Period Ended 31 December 2023

3. Debtors

2023 2022
£ £
Trade debtors 44 1,653
Other debtors 1,468
Total 44 3,121

HIGHGRADE MEDIA CIC

Notes to the Financial Statements

for the Period Ended 31 December 2023

4. Creditors: amounts falling due within one year note

2023 2022
£ £
Trade creditors 41 1,920
Total 41 1,920

COMMUNITY INTEREST ANNUAL REPORT

HIGHGRADE MEDIA CIC

Company Number: 10349725 (England and Wales)

Year Ending: 31 December 2023

Company activities and impact

Highgrade is an interview series with international experts and leaders in the fields of economic development and natural resources(mining; oil & gas; agriculture; fishing; forestry etc). Its mission is to facilitate the sharing and adoption of new ideas, policies and practice in the field of applied resource economics; to challenge established practice; and to identify and champion emerging priorities in this field of research. During 2023, Highgrade continued to release both video interviews and podcasts. This material attracted considerable online views, indicating continued public interest in the educational material. Guests have been people with interesting ideas and relevant experience in the realm of resource economics. The interviews have covered a wide range of topics and with representation from many different regions. All our material is available via the dedicated website (www.highgrade.media) and the Highgrade YouTube Channel - both open access platforms - and disseminated via an email distribution list and social media (YouTube, Twitter, Facebook and LinkedIn).

Consultation with stakeholders

Highgrade Media’s stakeholders are individuals, both within the UK and globally, who are interested in the fields of economic development and natural resources. The interviews that we publish online have been watched in more than 160 countries, with a good gender balance and age diversity amongst the audience. We reach stakeholders via our website (www.highgrade.media) and our social media channels (YouTube, Twitter, Facebook and LinkedIn page). People are engaging in discussions of the content of the videos and increasingly referencing Highgrade as a source of information. We actively encourage feedback on all published material. The feedback from the audience has been consistently positive. A reoccurring comment is an appreciation for fueling a much-needed conversation on how extractives can underpin development, and for doing so in a succinct and engaging way by laying out the issues and explore solutions. We respond to all direct and social media approaches. We have not received any feedback that has required specific action on our part.

Directors' remuneration

No remuneration was received

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
9 September 2024

And signed on behalf of the board by:
Name: Mr Mark Derek Slade
Status: Director