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REGISTERED NUMBER: 10218169 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

SB MEDIA GROUP LIMITED

SB MEDIA GROUP LIMITED (REGISTERED NUMBER: 10218169)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SB MEDIA GROUP LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: J Sammon
J Brown





REGISTERED OFFICE: 2 Manor Farm Court
Wolverton
Milton Keynes
Buckinghamshire
MK12 5NN





REGISTERED NUMBER: 10218169 (England and Wales)





ACCOUNTANTS: Ad Valorem Accountancy Services Limited
Chartered Certified Accountants
2 Manor Farm Court
Old Wolverton Road
Old Wolverton
Buckinghamshire
MK12 5NN

SB MEDIA GROUP LIMITED (REGISTERED NUMBER: 10218169)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £ £ £ £
FIXED ASSETS
Investments 4 76,100 76,100

CURRENT ASSETS
Debtors 5 285,035 678,299
Cash at bank 12,812 21,851
297,847 700,150
CREDITORS
Amounts falling due within one year 6 372,262 774,588
NET CURRENT LIABILITIES (74,415 ) (74,438 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,685

1,662

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 1,585 1,562
SHAREHOLDERS' FUNDS 1,685 1,662

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.

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 24 August 2024 and were signed on its behalf by:





J Sammon - Director


SB MEDIA GROUP LIMITED (REGISTERED NUMBER: 10218169)

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


1. STATUTORY INFORMATION

SB Media 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.

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 measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

INVESTMENTS IN SUBSIDIARIES
Investments in subsidiary undertakings are recognised at cost.

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

Other investments are measured at cost less impairment.

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

FOREIGN CURRENCIES
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

SB MEDIA GROUP LIMITED (REGISTERED NUMBER: 10218169)

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


3. EMPLOYEES AND DIRECTORS

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

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£
COST
At 1 January 2023
and 31 December 2023 76,100
NET BOOK VALUE
At 31 December 2023 76,100
At 31 December 2022 76,100

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors - 191,000
Amounts owed by group undertakings 278,432 480,299
Other debtors 1,612 2,014
Directors' current accounts 4,960 4,960
Prepayments 31 26
285,035 678,299

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Bank loans and overdrafts - 262
Trade creditors - 2
Amounts owed to group undertakings 285,000 699,438
Tax 85,692 72,999
VAT 570 687
Accruals and deferred income 1,000 1,200
372,262 774,588

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
1,000 Ordinary 0.10 100 100

SB MEDIA GROUP LIMITED (REGISTERED NUMBER: 10218169)

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


8. RELATED PARTY DISCLOSURES

Following the share sale J P Brown and J R Sammon hold a fixed and floating charge over the assets of the company until the debenture has been fully repaid.

During the year the company received an interest free loan from its subsidiary company SB7 Mobile Limited. At the balance sheet date, the amount outstanding was £47,732 (2022: £586,156).

The company received an interest free loan from SB Digital Media of £569,701 its subsidiary. At the balance sheet date, the amount outstanding was £569,701 (2022: £nil).

The company received an interest free loan from S P Two of £180,000 its subsidiary. At the balance sheet date, the amount outstanding was £285,000 (2022: £105,000).

These amounts were included within the amounts owed to/ by group undertakings.

9. PARENT COMPANY

By virtue of their shareholding the Trustees of the SB Media Group Employee Ownership Trust are the ultimate controlling parties.