Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31false2023-01-01No description of principal activity4751truetruefalse 02427909 2023-01-01 2023-12-31 02427909 2022-01-01 2022-12-31 02427909 2023-12-31 02427909 2022-12-31 02427909 c:Director1 2023-01-01 2023-12-31 02427909 c:Director2 2023-01-01 2023-12-31 02427909 c:Director3 2023-01-01 2023-12-31 02427909 c:Director4 2023-01-01 2023-12-31 02427909 c:Director5 2023-01-01 2023-12-31 02427909 c:RegisteredOffice 2023-01-01 2023-12-31 02427909 c:Agent1 2023-01-01 2023-12-31 02427909 d:Buildings d:ShortLeaseholdAssets 2023-01-01 2023-12-31 02427909 d:Buildings d:ShortLeaseholdAssets 2023-12-31 02427909 d:Buildings d:ShortLeaseholdAssets 2022-12-31 02427909 d:PlantMachinery 2023-01-01 2023-12-31 02427909 d:PlantMachinery 2023-12-31 02427909 d:PlantMachinery 2022-12-31 02427909 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 02427909 d:MotorVehicles 2023-01-01 2023-12-31 02427909 d:FurnitureFittings 2023-01-01 2023-12-31 02427909 d:FurnitureFittings 2023-12-31 02427909 d:FurnitureFittings 2022-12-31 02427909 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 02427909 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 02427909 d:Goodwill 2023-12-31 02427909 d:Goodwill 2022-12-31 02427909 d:CurrentFinancialInstruments 2023-12-31 02427909 d:CurrentFinancialInstruments 2022-12-31 02427909 d:Non-currentFinancialInstruments 2023-12-31 02427909 d:Non-currentFinancialInstruments 2022-12-31 02427909 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 02427909 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 02427909 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 02427909 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 02427909 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-12-31 02427909 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-12-31 02427909 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-12-31 02427909 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-12-31 02427909 d:ShareCapital 2023-12-31 02427909 d:ShareCapital 2022-12-31 02427909 d:CapitalRedemptionReserve 2023-12-31 02427909 d:CapitalRedemptionReserve 2022-12-31 02427909 d:RetainedEarningsAccumulatedLosses 2023-12-31 02427909 d:RetainedEarningsAccumulatedLosses 2022-12-31 02427909 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2023-01-01 2023-12-31 02427909 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2023-12-31 02427909 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2022-12-31 02427909 c:OrdinaryShareClass1 2023-01-01 2023-12-31 02427909 c:OrdinaryShareClass1 2023-12-31 02427909 c:OrdinaryShareClass1 2022-12-31 02427909 c:FRS102 2023-01-01 2023-12-31 02427909 c:Audited 2023-01-01 2023-12-31 02427909 c:FullAccounts 2023-01-01 2023-12-31 02427909 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 02427909 d:WithinOneYear 2023-12-31 02427909 d:WithinOneYear 2022-12-31 02427909 d:BetweenOneFiveYears 2023-12-31 02427909 d:BetweenOneFiveYears 2022-12-31 02427909 c:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 02427909 6 2023-01-01 2023-12-31 02427909 d:Goodwill d:OwnedIntangibleAssets 2023-01-01 2023-12-31 02427909 e:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure
Company registration number: 02427909







FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2023


MERCATOR MEDIA LIMITED






































img73a2.png                        

 


MERCATOR MEDIA LIMITED
 


 
COMPANY INFORMATION


Directors
A A Webster 
M B R Coulling 
D M Smith 
B N Curtis 
C Dunn 




Registered number
02427909



Registered office
Spinnaker House
Waterside Gardens

Fareham

Hampshire

PO16 8SD




Independent auditors
Menzies LLP
Chartered Accountants

3000a Parkway

Whiteley

Hampshire

PO15 7FX




Bankers
HSBC PLC
71 West Street

Fareham

Hampshire

PO16 0AN





 


MERCATOR MEDIA LIMITED
 



CONTENTS



Page
Statement of Financial Position
1 - 2
Notes to the Financial Statements
3 - 14


 


MERCATOR MEDIA LIMITED
REGISTERED NUMBER:02427909



STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 5 
39,904
70,660

Tangible assets
 6 
52,922
57,816

Investments
 7 
5
2,000

  
92,831
130,476

Current assets
  

Stocks
  
358,512
153,041

Debtors: amounts falling due within one year
 8 
346,630
523,913

Current asset investments
 9 
10,944
9,548

Cash at bank and in hand
  
460,497
565,335

  
1,176,583
1,251,837

Creditors: amounts falling due within one year
 10 
(947,621)
(909,814)

Net current assets
  
 
 
228,962
 
 
342,023

Total assets less current liabilities
  
321,793
472,499

Creditors: amounts falling due after more than one year
 11 
(100,000)
(150,000)

Provisions for liabilities
  

Other provisions
 17 
(36,804)
(33,204)

  
 
 
(36,804)
 
 
(33,204)

Net assets
  
184,989
289,295


Capital and reserves
  

Called up share capital 
 18 
114,404
114,404

Capital redemption reserve
  
24,500
24,500

Profit and loss account
  
46,085
150,391

  
184,989
289,295


Page 1

 


MERCATOR MEDIA LIMITED
REGISTERED NUMBER:02427909


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023

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 statement of income and retained earnings 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 A Webster
Director

Date: 16 September 2024

The notes on pages 3 to 14 form part of these financial statements.

Page 2

 


MERCATOR MEDIA LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Mercator Media Limited is a private company limited by shares, registered in England and Wales. The address of its registered office is disclosed on the company information page. The registered office is also the principal place of business.

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

Associates and joint ventures

Associates and Joint Ventures are held at cost less impairment.

 
2.3

Going concern

As a result of the actions taken by the Company during the Covid pandemic and given its strong cash position, the directors believe that this will enable the Company to continue its operational existence for a period of at least 12 months from the date that the accounts are issued for approval, and they consider the going concern basis of preparation continues to be appropriate.

Page 3

 


MERCATOR MEDIA LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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.

 
2.5

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 Statement of Income and Retained Earnings over its useful economic life of five years.

 
2.6

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.

Page 4

 


MERCATOR MEDIA LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.6
Fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Leasehold property
-
20%
reducing balance
Plant and machinery
-
20%
reducing balance
Motor vehicles
-
25%
reducing balance
Fixtures and fittings
-
20%
reducing balance

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

Operating lease agreements

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.8

Operating leases: the Company as lessor

Rental income from operating leases is credited to profit or loss on a straight-line basis over the lease term.

Amounts paid and payable as an incentive to sign an operating lease are recognised as a reduction to income over the lease term on a straight-line basis, unless another systematic basis is representative of the time pattern over which the lessor's benefit from the leased asset is diminished.

 
2.9

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

  
2.10

Work in progress

Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.

Page 5

 


MERCATOR MEDIA LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.11

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of Financial Position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Page 6

 


MERCATOR MEDIA LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.12

Foreign currency

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

 
2.13

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.14

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.

 
2.15

Pension costs

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.16

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 7

 


MERCATOR MEDIA LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.17

Deferred taxation

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 reporting date in the countries where the Company operates and generates income.

  
2.18

Development costs

The Company has opted to expense development costs incurred in profit or loss  when they are incurred.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectation of future events that are believed to be reasonable under the circumstances. 
The estimates included in the financial statements do not give rise to any material adjustments.


4.


Employees

The average monthly number of employees, including directors, during the year was 47 (2022 - 51).

Page 8

 


MERCATOR MEDIA LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Intangible assets




Goodwill

£



Cost


At 1 January 2023
1,316,387



At 31 December 2023

1,316,387



Amortisation


At 1 January 2023
1,245,726


Charge for the year on owned assets
30,754



At 31 December 2023

1,276,480



Net book value



At 31 December 2023
39,907



At 31 December 2022
70,660




6.


Tangible assets





Leasehold property
Plant and machinery
Fixtures and fittings
Total

£
£
£
£



Cost or valuation


At 1 January 2023
91,918
136,396
71,336
299,650


Additions
-
7,106
-
7,106



At 31 December 2023

91,918
143,502
71,336
306,756



Depreciation


At 1 January 2023
74,238
110,026
57,570
241,834


Charge for the year on owned assets
3,536
5,711
2,753
12,000



At 31 December 2023

77,774
115,737
60,323
253,834



Net book value



At 31 December 2023
14,144
27,765
11,013
52,922



At 31 December 2022
17,680
26,370
13,766
57,816

Page 9

 


MERCATOR MEDIA LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Investments





Investments in subsidiary companies
Investment in joint ventures
Total

£
£
£



Cost or valuation


At 1 January 2023
37,723
130,325
168,048


Additions
5
-
5


Amounts written off
-
(2,000)
(2,000)



At 31 December 2023

37,728
128,325
166,053



Impairment


At 1 January 2023
37,723
128,325
166,048



At 31 December 2023

37,723
128,325
166,048



Net book value



At 31 December 2023
5
-
5



At 31 December 2022
-
2,000
2,000




8.


Debtors

2023
2022
£
£


Trade debtors
187,385
184,108

Other debtors
51,855
237,346

Prepayments and accrued income
107,390
102,459

346,630
523,913


Page 10

 


MERCATOR MEDIA LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

9.


Investments

2023
2022
£
£

Other investments
10,944
9,548

10,944
9,548


Other investments comprise cash held on deposit which is not readily repayable on demand.


10.


Creditors: Amounts falling due within one year

2023
2022
£
£

Other loans
50,000
50,000

Trade creditors
60,388
90,718

Amounts owed to joint ventures
-
54,520

Other taxation and social security
35,316
37,563

Other creditors
19,543
16,169

Accruals and deferred income
782,374
660,844

947,621
909,814



11.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Other loans
100,000
150,000

100,000
150,000


Page 11

 


MERCATOR MEDIA LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

12.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Other loans
50,000
50,000


50,000
50,000

Amounts falling due 1-2 years

Other loans
100,000
100,000


100,000
100,000

Amounts falling due 2-5 years

Other loans
-
50,000


-
50,000


150,000
200,000



13.


Commitments under operating leases

At 31 December 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
162,835
159,688

Later than 1 year and not later than 5 years
102,022
225,745

264,857
385,433

Page 12

 


MERCATOR MEDIA LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

14.


Operating leases committed income

The company acts as a lessor in its relationship with a tenant.
Amounts due to the Company under committed operating leases as at the year end were as follows:


2023
2022
£
£



Within 1 year
75,075
75,075

Between 1-5 years
30,030
105,105

Over 5 years
-
-

105,105
180,180

The operating lease income recognised in the year was £75,075 (2022 - £57,572).


15.


Advances, credits and guarantees with the directors

The following is a summary of A A Webster's transactions with the company during the year:

2023
2022
        £
        £
Advances

Balance due to the Company at 1 January 2023

131,928

191,077

Payments made of behalf of the director

28,299

131,928

Repayments made by the director

(131,928)

(191,077)

Balance due to the Company at 31 December 2023

28,299

131,928



16.


Related party transactions

No material transactions with related parties were undertaken such as are required to be disclosed under FRS 102 section 1A, other than the loan advances made to the directors as disclosed in the notes to the accounts.


17.


Provisions


Dilapidations Provision

£





At 1 January 2023
33,204


Charged to profit or loss
3,600



At 31 December 2023
36,804

Page 13

 


MERCATOR MEDIA LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

18.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



114,404 (2022 - 114,404) Ordinary shares of £1.00 each
114,404
114,404



19.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 16 September 2024 by Andrew Galliers FCA (Senior Statutory Auditor) on behalf of Menzies LLP.

 
Page 14