Company registration number 04626026 (England and Wales)
EIDOSMEDIA LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
EIDOSMEDIA LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
EIDOSMEDIA LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
as restated
Notes
£
£
£
£
Fixed assets
Tangible assets
4
1,221
1,271
Current assets
Debtors
5
4,951,471
1,792,941
Cash at bank and in hand
162,762
1,453,573
5,114,233
3,246,514
Creditors: amounts falling due within one year
6
(4,915,486)
(3,041,809)
Net current assets
198,747
204,705
Total assets less current liabilities
199,968
205,976
Provisions for liabilities
7
(232)
(241)
Net assets
199,736
205,735
Capital and reserves
Called up share capital
8
2
2
Profit and loss reserves
199,734
205,733
Total equity
199,736
205,735

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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

The financial statements were approved by the board of directors and authorised for issue on 24 September 2024 and are signed on its behalf by:
Philip Allen
Director
Company registration number 04626026 (England and Wales)
EIDOSMEDIA LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information

Eidosmedia Limited is a private company limited by shares incorporated in England and Wales. The registered office is Ground Floor, 13 Charles ll Street, London, England, SW1Y 4QU.

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
Turnover

Revenue is derived from the company's principal activity of marketing publishing software and providing support services on this software.

Revenue is recognised in accordance with the services supplied to its customers. Once the company has met its contractual obligations a sales invoice is raised based on its services provided to its customers. Revenue is shown net of VAT and other sales related taxes.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures, fittings & equipment
25% Straight line basis

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
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 balance sheet when the company becomes party to the contractual provisions of the instrument.

 

 

Basic financial assets

Basic financial assets include debtors and cash and bank balances.

EIDOSMEDIA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 3 -

Impairment of financial assets'

 

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

 

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

 

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Debtors

Debtors do not carry any interest and are stated at their nominal value. Appropriate allowances for estimated irrecoverable amounts are recognised in the Statement of Income and Retained Earnings when there is objective evidence that the asset is impaired.

Cash at bank and in hand

Cash at bank and in hand include cash in hand, deposits held at call with banks and other short-term liquid investments with original maturities of three months or less.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Basic 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 include creditors. Creditors are not interest bearing and are stated at their nominal value.    

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.5
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 profit and loss account 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.

EIDOSMEDIA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 4 -
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. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. 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.

1.6
Foreign exchange

Transactions in currencies other than 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 are included in the profit and loss account for the period.

1.7

Pensions

The company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year.

2
Change in accounting policy

The financial statements have been prepared in Pound Sterling and the prior year comparatives restated from euros. This represents a change in accounting policy. The change has been implemented in order to reflect the functional currency of the company.

There have been no changes to the current year or prior year figures beyond the translation from euros to pound Sterling.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
7
6
EIDOSMEDIA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 5 -
4
Tangible fixed assets
Fixtures, fittings & equipment
£
Cost
At 1 January 2023
10,071
Additions
1,164
Disposals
(4,077)
At 31 December 2023
7,158
Depreciation and impairment
At 1 January 2023
8,800
Depreciation charged in the year
1,214
Eliminated in respect of disposals
(4,077)
At 31 December 2023
5,937
Carrying amount
At 31 December 2023
1,221
At 31 December 2022
1,271
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
673,881
221,278
Corporation tax recoverable
21,721
6,392
Amounts owed by group undertakings
4,241,332
1,009,261
Other debtors
14,537
556,010
4,951,471
1,792,941
6
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
8,521
12,080
Amounts owed to group undertakings
2,741,196
1,162,543
Taxation and social security
376,254
429,376
Other creditors
1,789,515
1,437,810
4,915,486
3,041,809
EIDOSMEDIA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 6 -
7
Provisions for liabilities
2023
2022
£
£
Deferred tax liabilities
232
241
8
Called up share capital
2023
2022
£
£
Ordinary share capital
Issued and fully paid
2 Ordinary shares of £1.00 each
2
2
9
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
Marc Ian Franks
Statutory Auditor:
Silver Levene (UK) Limited
10
Related party transactions

The company has taken advantage of the exemption provided in FRS 102 Section 1A from disclosing transactions with members of the same group that are wholly owned.

 

The smallest group for which consolidated financial statements are prepared which include the results of this company is that headed by EidosMedia S.p.A., whose registered office is at Via Carlo Imbonati, 18, 20159 Milano, Italy.

 

11
Prior period adjustment

There has been a prior year adjustment as the presentation currency has been changed from Euros to Pound Sterling. The reason for this change and it's effect on the figures is disclosed in Note 2.

2023-12-312023-01-01false26 September 2024CCH SoftwareCCH Accounts Production 2023.200No description of principal activityThis audit opinion is unqualifiedPhilip AllenC PelanconiM BaldinDeerbrand Secretaries Limited046260262023-01-012023-12-31046260262023-12-31046260262022-12-3104626026core:FurnitureFittings2023-12-3104626026core:FurnitureFittings2022-12-3104626026core:CurrentFinancialInstrumentscore:WithinOneYear2023-12-3104626026core:CurrentFinancialInstrumentscore:WithinOneYear2022-12-3104626026core:CurrentFinancialInstruments2023-12-3104626026core:CurrentFinancialInstruments2022-12-3104626026core:ShareCapital2023-12-3104626026core:ShareCapital2022-12-3104626026core:RetainedEarningsAccumulatedLosses2023-12-3104626026core:RetainedEarningsAccumulatedLosses2022-12-3104626026bus:Director12023-01-012023-12-3104626026core:FurnitureFittings2023-01-012023-12-31046260262022-01-012022-12-3104626026core:FurnitureFittings2022-12-3104626026core:WithinOneYear2023-12-3104626026core:WithinOneYear2022-12-3104626026bus:PrivateLimitedCompanyLtd2023-01-012023-12-3104626026bus:SmallCompaniesRegimeForAccounts2023-01-012023-12-3104626026bus:FRS1022023-01-012023-12-3104626026bus:Audited2023-01-012023-12-3104626026bus:Director22023-01-012023-12-3104626026bus:Director32023-01-012023-12-3104626026bus:CompanySecretary12023-01-012023-12-3104626026bus:FullAccounts2023-01-012023-12-31xbrli:purexbrli:sharesiso4217:GBP