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Economic Media Bulletin Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 07028578
2024 2023
Notes £ £ £ £
FIXED ASSETS
Investments 5 22,126 22,126
22,126 22,126
CURRENT ASSETS
Debtors 6 505,882 504,668
Cash at bank and in hand 2,447,069 2,225,472
2,952,951 2,730,140
Creditors: Amounts Falling Due Within One Year 7 (1,621,956 ) (1,405,641 )
NET CURRENT ASSETS (LIABILITIES) 1,330,995 1,324,499
TOTAL ASSETS LESS CURRENT LIABILITIES 1,353,121 1,346,625
NET ASSETS 1,353,121 1,346,625
CAPITAL AND RESERVES
Called up share capital 8 300 300
Profit and Loss Account 1,352,821 1,346,325
SHAREHOLDERS' FUNDS 1,353,121 1,346,625
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
I Sugawara
Director
M B Durham
Director
J P Cowdy
Director
1 August 2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Economic Media Bulletin Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07028578 . The registered office is 30 St Olav's Court Lower Road, Canada Water, London, SE16 2XB.
The presentation currency of the financial statements is the Pound Sterling (£).
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
Preparation of consolidated financial statements
The financial statements contain information about Economic Media Bulletin Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.
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.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. 
Subscription fees paid in advance are recorded as deferred revenue. Revenue is recognised when the content is delivered in accordance with the obligations under the subscription agreement.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 25% on cost
Computer Equipment 25% on cost
Investments in subsidiaries and associates
Investments in subsidiary and associate undertakings are recognised at cost.
2.4. Leasing and Hire Purchase Contracts
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Foreign Currencies
Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Page 3
Page 4
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on material 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. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. 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. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.7. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees during the year was: 17 (2023: 18)
17 18
4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 April 2023 8,655 16,912 25,567
As at 31 March 2024 8,655 16,912 25,567
Depreciation
As at 1 April 2023 8,655 16,912 25,567
As at 31 March 2024 8,655 16,912 25,567
Net Book Value
As at 31 March 2024 - - -
As at 1 April 2023 - - -
Page 4
Page 5
5. Investments
Subsidiaries Associates Total
£ £ £
Cost
As at 1 April 2023 22,048 78 22,126
As at 31 March 2024 22,048 78 22,126
Provision
As at 1 April 2023 - - -
As at 31 March 2024 - - -
Net Book Value
As at 31 March 2024 22,048 78 22,126
As at 1 April 2023 22,048 78 22,126
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 219,763 185,986
Amounts owed by participating interests 240,000 240,000
Other debtors 46,119 78,682
505,882 504,668
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 17,348 29,199
Other creditors 1,424,421 1,236,243
Taxation and social security 180,187 140,199
1,621,956 1,405,641
8. Share Capital
2024 2023
Allotted, called up and fully paid £ £
100 Ordinary A shares of £ 1.00 each 100 100
100 Ordinary B shares of £ 1.00 each 100 100
100 Ordinary C shares of £ 1.00 each 100 100
300 300
Page 5
Page 6
9. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 1,172 7,036
Later than one year and not later than five years - 1,172
1,172 8,208
Page 6