2023-01-012023-12-312023-12-31false12347886MULTILOCAL MEDIA 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MULTILOCAL MEDIA LTD

Registered Number
12347886
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2023

MULTILOCAL MEDIA LTD
Company Information
for the year from 1 January 2023 to 31 December 2023

Directors

BOOTLE, Robin
BOWMAN, Thomas Kevin
LEAVER, James Daniel

Registered Address

27 Old Gloucester Street
London
WC1N 3AX

Registered Number

12347886 (England and Wales)
MULTILOCAL MEDIA LTD
Balance Sheet as at
31 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets325,28628,500
Investments4146,608-
171,89428,500
Current assets
Debtors52,823,5202,872,209
Cash at bank and on hand285,282699,637
3,108,8023,571,846
Creditors amounts falling due within one year6(1,783,400)(2,198,121)
Net current assets (liabilities)1,325,4021,373,725
Total assets less current liabilities1,497,2961,402,225
Creditors amounts falling due after one year7(15,654)(35,647)
Net assets1,481,6421,366,578
Capital and reserves
Called up share capital120120
Profit and loss account1,481,5221,366,458
Shareholders' funds1,481,6421,366,578
The financial statements were approved and authorised for issue by the Board of Directors on 16 September 2024, and are signed on its behalf by:
LEAVER, James Daniel
Director
Registered Company No. 12347886
MULTILOCAL MEDIA LTD
Notes to the Financial Statements
for the year ended 31 December 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from rendering of services
Revenue from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Research and development
All research costs are expensed. Costs related to the development of products are capitalised when they meet the following conditions: (i)It is technically feasible to complete the development so that the product will be available for use or sale. (ii)It is intended to use or sell the product being developed. (iii)The company is able to use or sell the product being developed. (iv)It can be demonstrated that the product will generate probable future economic benefits. (v)Adequate technical, financial and other resources exist so that product development can be completed and the product subsequently used or sold. (vi)Expenditure attributable to the development can be reliably measured. All other development expenditure is recognised as an expense in the period in which it is incurred. Capitalised development costs are stated at cost less accumulated amortisation and accumulated impairment losses (cost model). Amortisation is recognised using the straight-line basis and results in the carrying amount being expensed in profit or loss over the estimated useful lives which range from 5 to 15 years.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Office Equipment5
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
2.Average number of employees

20232022
Average number of employees during the year2517
3.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
At 01 January 2336,70636,706
Additions4,5694,569
At 31 December 2341,27541,275
Depreciation and impairment
At 01 January 238,2068,206
Charge for year7,7837,783
At 31 December 2315,98915,989
Net book value
At 31 December 2325,28625,286
At 31 December 2228,50028,500
4.Fixed asset investments
During the year Multilocal Media bought the whole shareholding of ML TRADING MARKETING E PARTICIPAÇÕES LTDA for one thousand Brazilian Reais (BRL 1,000.00)

Investments in groups1

Loans to groups2

Total

£££
Cost or valuation
Additions157146,451146,608
At 31 December 23157146,451146,608
Net book value
At 31 December 23157146,451146,608
At 31 December 22---

Notes

1Investments in group undertakings and participating interests
2Loans to group undertakings and participating interests
5.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables2,775,3912,759,073
Other debtors292,180
Prepayments and accrued income48,12720,956
Total2,823,5202,872,209
6.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables1,630,0312,082,850
Bank borrowings and overdrafts10,121-
Taxation and social security13,34094,820
Accrued liabilities and deferred income129,90820,451
Total1,783,4002,198,121
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
7.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts15,65435,647
Total15,65435,647