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REGISTERED NUMBER: 04125925 (England and Wales)















Unaudited Financial Statements For The Year Ended 31 December 2023

for

247 Media Limited

247 Media Limited (Registered number: 04125925)






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


247 Media Limited

Company Information
For The Year Ended 31 December 2023







DIRECTORS: M Bird
A J Bird





REGISTERED OFFICE: Mill House
58 Guildford Street
Chertsey
KT16 9BE





REGISTERED NUMBER: 04125925 (England and Wales)





ACCOUNTANTS: Fuller Spurling
Mill House
58 Guildford Street
Chertsey
Surrey
KT16 9BE

247 Media Limited (Registered number: 04125925)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 642
Tangible assets 5 756 652
756 1,294

CURRENT ASSETS
Debtors 6 4,330 9,526
Cash in hand 81 34
4,411 9,560
CREDITORS
Amounts falling due within one year 7 21,876 16,458
NET CURRENT LIABILITIES (17,465 ) (6,898 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(16,709

)

(5,604

)

CREDITORS
Amounts falling due after more than one
year

8

16,746

18,873
NET LIABILITIES (33,455 ) (24,477 )

CAPITAL AND RESERVES
Called up share capital 4 4
Share premium 39,998 39,998
Retained earnings (73,457 ) (64,479 )
SHAREHOLDERS' FUNDS (33,455 ) (24,477 )

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.

247 Media Limited (Registered number: 04125925)

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 September 2024 and were signed on its behalf by:





A J Bird - Director


247 Media Limited (Registered number: 04125925)

Notes to the Financial Statements
For The Year Ended 31 December 2023

1. STATUTORY INFORMATION

247 Media 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.

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.

Going concern
Although the company has a deficit on retained earnings , the accounts are prepared on a going concern basis as it is the directors' view that the company can meet its obligations for the foreseeable future. The directors will continue to support the company through the directors' loan accounts.

Turnover
Turnover comprises revenue recognised by the company in respect of advertising and software services supplied during the year, excluding of Value Added Tax.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 33% on cost
Fixtures and fittings - 33% on cost
Computer equipment - 20% on cost

Financial instruments
The Company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Taxation
Taxation represents the sum of tax currently payable, and deferred tax if material.

The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax, where material, is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

247 Media Limited (Registered number: 04125925)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Research and development
In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight line basis over their useful economic lives, which range from 3 to 6 years.

If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

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.

Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash at bank and in hand
Cash at bank includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Creditors
Creditors, provisions and accrued costs are recognised where the company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2023
and 31 December 2023 200,830
AMORTISATION
At 1 January 2023 200,188
Charge for year 642
At 31 December 2023 200,830
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 642

247 Media Limited (Registered number: 04125925)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 January 2023 15,801 8,533 99,628 123,962
Additions - 800 - 800
At 31 December 2023 15,801 9,333 99,628 124,762
DEPRECIATION
At 1 January 2023 15,391 8,291 99,628 123,310
Charge for year 410 286 - 696
At 31 December 2023 15,801 8,577 99,628 124,006
NET BOOK VALUE
At 31 December 2023 - 756 - 756
At 31 December 2022 410 242 - 652

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 4,200 7,799
Other debtors 130 1,727
4,330 9,526

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 7,174 4,931
Trade creditors 59 1,237
Social security and other taxes 590 650
VAT 2,602 1,197
Other creditors 2,154 94
Directors' current accounts 500 700
Accruals and deferred income 8,797 7,649
21,876 16,458

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans 16,746 18,873