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REGISTERED NUMBER: 09333739 (England and Wales)




UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

W2S MEDIA LIMITED

W2S MEDIA LIMITED (REGISTERED NUMBER: 09333739)

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










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


W2S MEDIA LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: Mr A R Lewis





REGISTERED OFFICE: 71-75 Shelton Street
Covent Garden
London
WC2H 9JQ





REGISTERED NUMBER: 09333739 (England and Wales)





ACCOUNTANTS: Brookes Stephens
New Media House
Davidson Road
Lichfield
Staffordshire
WS14 9DZ

W2S MEDIA LIMITED (REGISTERED NUMBER: 09333739)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Tangible assets 5 7,452 9,972

Current assets
Debtors 6 305,916 344,117
Cash at bank 14,238 18,433
320,154 362,550
Creditors
Amounts falling due within one year 7 473,268 473,268
Net current liabilities (153,114 ) (110,718 )
Total assets less current liabilities (145,662 ) (100,746 )

Capital and reserves
Called up share capital 8 10 10
Retained earnings (145,672 ) (100,756 )
Shareholders' funds (145,662 ) (100,746 )

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 director acknowledges his 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 director and authorised for issue on 25 September 2024 and were signed by:





Mr A R Lewis - Director


W2S MEDIA LIMITED (REGISTERED NUMBER: 09333739)

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


1. STATUTORY INFORMATION

W2S 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.

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


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The director has reviewed the credit facilities available to the company over the forthcoming 12 months and has assessed that they are sufficient to allow the company to continue to trade and meet its financial obligations as they fall due. The parent company has agreed it will not require its substantial loan balance to be repaid until such time as the company has the funds to do so. The accounts have therefore been prepared on a going concern basis.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover represents net invoiced goods and services, excluding value added tax.

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 etc - 25% on reducing balance and 20% on cost

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 statement of financial position date.


W2S MEDIA LIMITED (REGISTERED NUMBER: 09333739)

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


3. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

4. EMPLOYEES AND DIRECTORS

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

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023
and 31 December 2023 30,902
DEPRECIATION
At 1 January 2023 20,930
Charge for year 2,520
At 31 December 2023 23,450
NET BOOK VALUE
At 31 December 2023 7,452
At 31 December 2022 9,972

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 285,982 343,075
Other debtors 19,934 1,042
305,916 344,117

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 471,818 471,818
Other creditors 1,450 1,450
473,268 473,268

W2S MEDIA LIMITED (REGISTERED NUMBER: 09333739)

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


8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
10 Ordinary £1 10 10

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
Mr A R Lewis
Balance outstanding at start of year - -
Amounts advanced 19,892 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 19,892 -

This loan is interest free and repayable on demand.

10. RELATED PARTY DISCLOSURES

The company received funds of £59,000 (2022: £83,500) and paid costs of £1,102 (2022: £53,820) on behalf of its parent, HLGSY Limited during the year.

At the year end, the company owed HLGSY Limited £287,791 (2022: £229,893). This loan is interest free and is repayable on demand.

At the year end, the company was owed £100,465 (2022: £100,465) by HL Group Limited. This loan is interest free and is repayable on demand.

11. ULTIMATE CONTROLLING PARTY

W2S Media Limited is a subsidiary of HLGSY Limited, a company registered in Guernsey and whose registered office address is Les Casquets, La Villiaze Road, St Andrew, Guernsey, GY6 8YF.

The company considers its ultimate parent company to be HL Group Limited, a company registered in Guernsey and whose registered office address is Les Casquets, La Villiaze Road, St Andrew, Guernsey, GY6 8YF.