7 01/01/2023 31/12/2023 2023-12-31 false false false false false false false true false false true false false false false false true false No description of principal activities is disclosed 2023-01-01 Sage Accounts Production 23.0 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 07880574 2023-01-01 2023-12-31 07880574 2023-12-31 07880574 2022-12-31 07880574 2022-01-01 2022-12-31 07880574 2022-12-31 07880574 2021-12-31 07880574 core:FurnitureFittingsToolsEquipment 2023-01-01 2023-12-31 07880574 bus:Director1 2023-01-01 2023-12-31 07880574 core:LandBuildings core:OwnedOrFreeholdAssets 2022-12-31 07880574 core:FurnitureFittingsToolsEquipment 2022-12-31 07880574 core:LandBuildings core:OwnedOrFreeholdAssets 2023-12-31 07880574 core:FurnitureFittingsToolsEquipment 2023-12-31 07880574 core:WithinOneYear 2023-12-31 07880574 core:WithinOneYear 2022-12-31 07880574 core:AfterOneYear 2023-12-31 07880574 core:AfterOneYear 2022-12-31 07880574 core:ShareCapital 2023-12-31 07880574 core:ShareCapital 2022-12-31 07880574 core:RetainedEarningsAccumulatedLosses 2023-12-31 07880574 core:RetainedEarningsAccumulatedLosses 2022-12-31 07880574 core:LandBuildings core:OwnedOrFreeholdAssets 2022-12-31 07880574 core:FurnitureFittingsToolsEquipment 2022-12-31 07880574 bus:Director1 2022-12-31 07880574 bus:Director1 2021-12-31 07880574 bus:Director1 2022-12-31 07880574 bus:Director1 2022-01-01 2022-12-31 07880574 bus:SmallEntities 2023-01-01 2023-12-31 07880574 bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 07880574 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 07880574 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 07880574 bus:FullAccounts 2023-01-01 2023-12-31 07880574 1 2023-01-01 2023-12-31
Company registration number: 07880574
MMM-Media Ltd
Unaudited filleted financial statements
31 December 2023
MMM-Media Ltd
Contents
Statement of financial position
Notes to the financial statements
MMM-Media Ltd
Statement of financial position
31 December 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 5 183,098 183,268
_______ _______
183,098 183,268
Current assets
Debtors 6 106,376 100,388
Cash at bank and in hand 8,314 8,758
_______ _______
114,690 109,146
Creditors: amounts falling due
within one year 7 ( 130,660) ( 86,919)
_______ _______
Net current (liabilities)/assets ( 15,970) 22,227
_______ _______
Total assets less current liabilities 167,128 205,495
Creditors: amounts falling due
after more than one year 8 ( 99,130) ( 113,679)
_______ _______
Net assets 67,998 91,816
_______ _______
Capital and reserves
Called up share capital 1 1
Profit and loss account 67,997 91,815
_______ _______
Shareholder funds 67,998 91,816
_______ _______
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 18 July 2024 , and are signed on behalf of the board by:
Ms R Dregviene
Director
Company registration number: 07880574
MMM-Media Ltd
Notes to the financial statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Brooklands House, 58 Marlborough Road, Lancing, West Sussex, BN15 8AF.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment - 25 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 7 (2022: 3 ).
5. Tangible assets
Freehold property Fixtures, fittings and equipment Total
£ £ £
Cost
At 1 January 2023 182,875 1,837 184,712
Additions - 122 122
_______ _______ _______
At 31 December 2023 182,875 1,959 184,834
_______ _______ _______
Depreciation
At 1 January 2023 - 1,444 1,444
Charge for the year - 292 292
_______ _______ _______
At 31 December 2023 - 1,736 1,736
_______ _______ _______
Carrying amount
At 31 December 2023 182,875 223 183,098
_______ _______ _______
At 31 December 2022 182,875 393 183,268
_______ _______ _______
6. Debtors
2023 2022
£ £
Trade debtors 15,796 12,438
Other debtors 90,580 87,950
_______ _______
106,376 100,388
_______ _______
7. Creditors: amounts falling due within one year
2023 2022
£ £
Bank loans and overdrafts 16,851 16,572
Trade creditors 2,290 2,427
Corporation tax 6,645 15,909
Social security and other taxes 17,451 8,498
Other creditors 87,423 43,513
_______ _______
130,660 86,919
_______ _______
8. Creditors: amounts falling due after more than one year
2023 2022
£ £
Bank loans and overdrafts 99,130 113,679
_______ _______
9. Directors advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2023
Balance brought forward Advances /(credits) to the director Balance o/standing
£ £ £
Ms R Dregviene ( 41,772) 41,772 -
_______ _______ _______
2022
Balance brought forward Advances /(credits) to the director Balance o/standing
£ £ £
Ms R Dregviene ( 37,635) ( 4,137) ( 41,772)
_______ _______ _______
10. Controlling party
The company is under the control of the director.