Company Registration No. 08528876 (England and Wales)
Rumpus Media Limited
Unaudited financial statements
for the year ended 31 December 2023
Pages for filing with the registrar
Rumpus Media Limited
Contents
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 9
Rumpus Media Limited
Statement of financial position
As at 31 December 2023
1
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
15,445
13,132
Investments
6
1
1
15,446
13,133
Current assets
Work in progress
19,051
17,220
Debtors
7
1,279,887
2,886,542
Cash at bank and in hand
889,626
444,220
2,188,564
3,347,982
Creditors: amounts falling due within one year
9
(1,641,381)
(2,718,618)
Net current assets
547,183
629,364
Total assets less current liabilities
562,629
642,497
Creditors: amounts falling due after more than one year
8
(241,667)
(341,667)
Net assets
320,962
300,830
Capital and reserves
Called up share capital
11
1,633
1,633
Share premium account
399,580
399,580
Profit and loss reserves
(80,251)
(100,383)
Total equity
320,962
300,830

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

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

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

Rumpus Media Limited
Statement of financial position (continued)
As at 31 December 2023
2
The financial statements were approved by the board of directors and authorised for issue on 10 September 2024 and are signed on its behalf by:
Josephine Brassey
Director
Company Registration No. 08528876
Rumpus Media Limited
Notes to the financial statements
For the year ended 31 December 2023
3
1
Accounting policies
Company information

Rumpus Media Limited is a private company limited by shares incorporated in England and Wales. The registered office is 71 Queen Victoria Street, London, EC4V 4BE.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

As at the period end, the company has net assets of £320,962 (2022: £300,830). The directors acknowledge that the company has cash of £889,626 (2022: £444,220) at the period end and atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover comprises amounts receivable for work carried out on productions and is recognised on a straight line basis spread equally over the life of the production. Distribution income is recognised in the period to which it relates.

1.4
Tangible 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

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives using the straight line method.

Fixtures and fittings
2 years
Computers
2 years

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 disposal are determined by comparing the processed with the carrying amount and recognised in the statement of profit and loss.

1.5
Fixed asset investments

Investment in subsidiaries are measured at cost less accumulated impairment.

Rumpus Media Limited
Notes to the financial statements (continued)
For the year ended 31 December 2023
1
Accounting policies (continued)
4
1.6
Borrowing costs

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

1.7
Work in Progress

Work in progress related to direct production costs incurred on productions not delivered during the period. The costs are recorded at the lower of cost and net realisable value, and are net of value added tax.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of work in progress over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.8
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ 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 debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

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

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts 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 creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Rumpus Media Limited
Notes to the financial statements (continued)
For the year ended 31 December 2023
1
Accounting policies (continued)
5
1.10
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.11
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Where items recognised in other comprehensive income or equity are chargeable to or deductible for tax purposes, the resulting current or deferred tax expense or income is presented in the same component of comprehensive income or equity as the transaction or other event that resulted in the tax expense or income. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.12
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Rumpus Media Limited
Notes to the financial statements (continued)
For the year ended 31 December 2023
1
Accounting policies (continued)
6
1.13
Retirement benefits

 

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 the Statement of Comprehensive Income 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.

 

1.14
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

 

2
Critical accounting judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of employees, including directors, during the period was 37 (2022: 37).

Rumpus Media Limited
Notes to the financial statements (continued)
For the year ended 31 December 2023
7
4
Tangible fixed assets
Fixtures and fittings
Computers
Total
£
£
£
Cost
At 1 January 2023
72
54,004
54,077
Additions
-
0
24,105
24,105
Disposals
-
0
(803)
(803)
At 31 December 2023
72
77,307
77,379
Depreciation and impairment
At 1 January 2023
-
0
40,944
40,944
Depreciation charged in the year
-
0
20,990
20,990
At 31 December 2023
-
0
61,934
61,934
Carrying amount
At 31 December 2023
72
15,373
15,445
At 31 December 2022
72
13,060
13,132
5
Subsidiaries

Details of the company's subsidiaries at 31 December 2023 are as follows:

Name of undertaking
Registered
Nature of business
Class of
% Held
office
shares held
Direct
Indirect
Rumpus Kids Limited
United Kingdom
TV production
Ordinary
100.00
0
6
Fixed asset investments
2023
2022
£
£
Investments
1
1
Rumpus Media Limited
Notes to the financial statements (continued)
For the year ended 31 December 2023
6
Fixed asset investments (continued)
8
Movements in fixed asset investments
Investments in subsidiary companies
£
Cost or valuation
At 1 January 2023 & 31 December 2023
1
Carrying amount
At 31 December 2023
1
At 31 December 2022
1
7
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
169,518
713,566
Unpaid share capital
47
47
Other debtors
4,097
5,202
Prepayments and accrued income
1,106,225
2,167,727
1,279,887
2,886,542
8
Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
241,667
341,667
9
Creditors: amounts falling due within one year
2023
2022
£
£
Other borrowings
100,000
490,920
Trade creditors
701,325
367,780
Taxation and social security
83,630
207,685
Deferred income
131,739
110,215
Other creditors
15,221
14,443
Accruals
609,466
1,527,575
1,641,381
2,718,618
Rumpus Media Limited
Notes to the financial statements (continued)
For the year ended 31 December 2023
9
10
Retirement benefit schemes
2023
2022
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
15,785
16,819

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund. Contributions totalling to £7,169 (2022: £6,679) were payable to the fund at the reporting date and are included in creditors.

11
Called up share capital
2023
2022
£
£
Ordinary share capital
Issued and not fully paid
14,701 Ordinary shares of 10p each
1,470
1,470
1,634 Growth shares of 10p each
163
163
1,633
1,633
12
Charges

During the year the following charges apply:

 

Coutts & Co holds 3 fixed and floating charges over the entity. 2 relate to entire copyright and all other rights in relation to certain programmes. The remaining charge relates to all property assets and rights of the company present and future.

 

13
Parent company

By virtue of their majority shareholdings in the company, Emily Hudd and Iain Wimbush are considered to be the ultimate controlling parties.

14
Related party transactions

During the period the company was charged fees of £2,788 (2022: £160,628), including VAT, by Greenbird Media Limited, a shareholder in the company, and a company with a common director. Amounts of £nil (2022: £160,628) were settled during the period. A balance of £2,788 is owed to Greenbird Media Limited (2022: £nil) as at 31 December 2023.

 

The company received broadcaster income from Keshet International UK Limited who has an indirect holding of Rumpus Media Limited. The total amount charged in the period was £48,583 (2022: £102,109). Amounts of £48,583 (2022: £102,109) were settled during the period. The balance at the year end was £nil (2022: £nil).

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