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REGISTERED NUMBER: 05306827 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

MMEDIA GROUP LIMITED

MMEDIA GROUP LIMITED (REGISTERED NUMBER: 05306827)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MMEDIA GROUP LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Mrs K Pounds
Mr D Pounds





SECRETARY: Mrs K Pounds





REGISTERED OFFICE: Enterprise House Aviation Park West
Bournemouth International Airport
Christchurch
Dorset
BH23 6NW





REGISTERED NUMBER: 05306827 (England and Wales)





ACCOUNTANTS: Lewis Brownlee (Chichester) Limited
Chartered Accountants
Appledram Barns
Birdham Road
Chichester
West Sussex
PO20 7EQ

MMEDIA GROUP LIMITED (REGISTERED NUMBER: 05306827)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,682,975 1,798,537
Investments 6 35,000 -
1,717,975 1,798,537

CURRENT ASSETS
Debtors 7 2,670,043 2,139,066
Cash at bank and in hand 155,579 52,837
2,825,622 2,191,903
CREDITORS
Amounts falling due within one year 8 2,493,848 1,936,739
NET CURRENT ASSETS 331,774 255,164
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,049,749

2,053,701

CREDITORS
Amounts falling due after more than one year 9 (207,613 ) (335,242 )

PROVISIONS FOR LIABILITIES (329,283 ) (275,619 )
NET ASSETS 1,512,853 1,442,840

CAPITAL AND RESERVES
Called up share capital 2,701 2,701
Retained earnings 1,510,152 1,440,139
1,512,853 1,442,840

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

MMEDIA GROUP LIMITED (REGISTERED NUMBER: 05306827)

BALANCE SHEET - continued
31 DECEMBER 2023


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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 September 2024 and were signed on its behalf by:





Mrs K Pounds - Director


MMEDIA GROUP LIMITED (REGISTERED NUMBER: 05306827)

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


1. STATUTORY INFORMATION

Mmedia Group Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


The financial statements relate to Mmedia Group Limited as an individual entity.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is generated from the provision of media and advertising services.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimate reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 25% on reducing balance
Motor vehicles - 15% on reducing balance
Computer equipment - 25% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Financial instruments
Financial instruments are classified by the director as basic or advanced following the conditions in FRS102 Section 11. Basic financial instruments are recognised at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost. The company has no advanced financial instruments.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


MMEDIA GROUP LIMITED (REGISTERED NUMBER: 05306827)

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


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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 liabilities or other future taxable profits.

Hire purchase contracts, finance leases and operating leasing commitments
Leases are classified as finance leases whenever the terms of the lease transfers substantially all of the risks and rewards of ownership to the lessee. All other leases are classified as operating leases.

Assets held under hire purchase contracts and finance leases are recognised as assets at the lower of the assets' fair value at the date of inception and the present value of the minimum contract payments. The related liability is included in the balance sheet as a hire purchase or finance lease obligation. Contract payments are treated as consisting of capital and interest elements. The interest is charged to the profit and loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received and deposits paid, are charged to the profit and loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease asset are consumed.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 27 (2022 - 29 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£ £ £
COST
At 1 January 2023
and 31 December 2023 204,000 131,829 335,829
AMORTISATION
At 1 January 2023
and 31 December 2023 204,000 131,829 335,829
NET BOOK VALUE
At 31 December 2023 - - -
At 31 December 2022 - - -

MMEDIA GROUP LIMITED (REGISTERED NUMBER: 05306827)

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


5. TANGIBLE FIXED ASSETS
Freehold Plant and Motor Computer
property machinery vehicles equipment Totals
£ £ £ £ £
COST
At 1 January 2023 22,545 1,383,021 2,010,037 113,995 3,529,598
Additions - 120,049 195,966 18,263 334,278
Disposals - (10,420 ) (211,821 ) - (222,241 )
At 31 December 2023 22,545 1,492,650 1,994,182 132,258 3,641,635
DEPRECIATION
At 1 January 2023 4,440 744,328 903,699 78,594 1,731,061
Charge for year 449 168,865 179,705 10,724 359,743
Eliminated on disposal - (1,737 ) (130,407 ) - (132,144 )
At 31 December 2023 4,889 911,456 952,997 89,318 1,958,660
NET BOOK VALUE
At 31 December 2023 17,656 581,194 1,041,185 42,940 1,682,975
At 31 December 2022 18,105 638,693 1,106,338 35,401 1,798,537

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£
COST
Additions 35,000
At 31 December 2023 35,000
NET BOOK VALUE
At 31 December 2023 35,000

Fixed asset investments relate to shareholdings in unlisted UK entities.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors 1,555,984 1,435,096
Amounts owed by group undertakings 131,324 97,880
Other debtors 982,735 606,090
2,670,043 2,139,066

MMEDIA GROUP LIMITED (REGISTERED NUMBER: 05306827)

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


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Hire purchase contracts (see note 10) 103,794 109,071
Trade creditors 129,225 208,754
Amounts owed to group undertakings 1,322,186 1,060,136
Taxation and social security 405,864 201,684
Other creditors 532,779 357,094
2,493,848 1,936,739

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£ £
Hire purchase contracts (see note 10) 207,613 335,242

10. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£ £
Net obligations repayable:
Within one year 103,794 109,071
Between one and five years 207,613 335,242
311,407 444,313

Non-cancellable
operating leases
2023 2022
£ £
Within one year 5,169 5,169
Between one and five years 4,307 9,476
9,476 14,645

11. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£ £
Hire purchase contracts 311,407 444,313

The hire purchase agreements are secured over the vehicles to which they relate.

Included within other creditors a balance of £NIL (2022 £NIL) is secured by a fixed and floating charge on all property and assets of the company.

MMEDIA GROUP LIMITED (REGISTERED NUMBER: 05306827)

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


12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year the company made advances to a director amounting to £108,053 (2022: £139,845). A proportion of this amount was repaid during the year. Interest was charged on the loan. The directors owed the company £350,895 (2022 £339,217) at 31 December 2023.