Caseware UK (AP4) 2023.0.135 2023.0.135 2023-08-312023-08-31332022-09-01falsedeveopment of media projectsfalsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 11518484 2022-09-01 2023-08-31 11518484 2021-09-01 2022-08-31 11518484 2023-08-31 11518484 2022-08-31 11518484 2021-09-01 11518484 c:Director2 2022-09-01 2023-08-31 11518484 d:CurrentFinancialInstruments 2023-08-31 11518484 d:CurrentFinancialInstruments 2022-08-31 11518484 d:Non-currentFinancialInstruments 2023-08-31 11518484 d:Non-currentFinancialInstruments 2022-08-31 11518484 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 11518484 d:CurrentFinancialInstruments d:WithinOneYear 2022-08-31 11518484 d:Non-currentFinancialInstruments d:AfterOneYear 2023-08-31 11518484 d:Non-currentFinancialInstruments d:AfterOneYear 2022-08-31 11518484 d:ShareCapital 2022-09-01 2023-08-31 11518484 d:ShareCapital 2023-08-31 11518484 d:ShareCapital 2021-09-01 2022-08-31 11518484 d:ShareCapital 2022-08-31 11518484 d:ShareCapital 2021-09-01 11518484 d:RetainedEarningsAccumulatedLosses 2022-09-01 2023-08-31 11518484 d:RetainedEarningsAccumulatedLosses 2023-08-31 11518484 d:RetainedEarningsAccumulatedLosses 2021-09-01 2022-08-31 11518484 d:RetainedEarningsAccumulatedLosses 2022-08-31 11518484 d:RetainedEarningsAccumulatedLosses 2021-09-01 11518484 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-08-31 11518484 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-08-31 11518484 c:FRS102 2022-09-01 2023-08-31 11518484 c:AuditExempt-NoAccountantsReport 2022-09-01 2023-08-31 11518484 c:FullAccounts 2022-09-01 2023-08-31 11518484 c:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 11518484 2 2022-09-01 2023-08-31 iso4217:GBP xbrli:pure

Registered number: 11518484









ENRICHED MEDIA GROUP LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 AUGUST 2023

 
ENRICHED MEDIA GROUP LIMITED
REGISTERED NUMBER: 11518484

BALANCE SHEET
AS AT 31 AUGUST 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
 4 
316,144
396,582

  
316,144
396,582

Current assets
  

Stocks
  
2,000
-

Debtors: amounts falling due within one year
 5 
453,334
327,460

Cash at bank and in hand
 6 
16,267
103,606

  
471,601
431,066

Creditors: amounts falling due within one year
 7 
(191,160)
(126,619)

Net current assets
  
 
 
280,441
 
 
304,447

Total assets less current liabilities
  
596,585
701,029

Creditors: amounts falling due after more than one year
 8 
(739,417)
(739,417)

  

Net liabilities
  
(142,832)
(38,388)


Capital and reserves
  

Called up share capital 
  
3
3

Profit and loss account
  
(142,835)
(38,391)

  
(142,832)
(38,388)


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 9 October 2024.
Page 1

 
ENRICHED MEDIA GROUP LIMITED
REGISTERED NUMBER: 11518484
    
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2023





Mr. M. McCabe
Director

The notes on pages 5 to 9 form part of these financial statements.

Page 2

 
ENRICHED MEDIA GROUP LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 AUGUST 2023


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 September 2022
3
(38,391)
(38,388)


Comprehensive income for the year

Loss for the year

-
(104,444)
(104,444)


Other comprehensive income for the year
-
-
-


Total comprehensive income for the year
-
(104,444)
(104,444)


Total transactions with owners
-
-
-


At 31 August 2023
3
(142,835)
(142,832)


The notes on pages 5 to 9 form part of these financial statements.

Page 3

 
ENRICHED MEDIA GROUP LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 AUGUST 2022


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 September 2021
3
(54,058)
(54,055)


Comprehensive income for the year

Profit for the year

-
15,667
15,667


Other comprehensive income for the year
-
-
-


Total comprehensive income for the year
-
15,667
15,667


Total transactions with owners
-
-
-


At 31 August 2022
3
(38,391)
(38,388)


The notes on pages 5 to 9 form part of these financial statements.

Page 4

 
ENRICHED MEDIA GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

1.


General information

The entity is a private limited company registered in England and Wales. The Registered Office is located at 4th Floor, 95 Chancery Lane, London, WC2A 1DT. The principal activity during the year was sourcing media projects suitable to invest funds into, then developing those activities.  

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The company was significantly impacted by the coronavirus restrictions which has led to a number of projects that had been in progress now being written off.. The company was essentially reliant on the loan provided by one of the Directors not being called in order to continue trading during the year. That Director has confirmed he is satisfied to not seek repayment until such times as the various live projects are progressed to completion. The Directors are therefore satisfied the company should be regarded as a going concern. 

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Profit and loss account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 5

 
ENRICHED MEDIA GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
2.5

Impairment of fixed assets and goodwill

Assets that are subject to depreciation or amortisation are assessed at each balance sheet date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash-generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (CGUs). Non-financial assets that have been previously impaired are reviewed at each balance sheet date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.

 
2.6

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Financial instruments

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash
Page 6

 
ENRICHED MEDIA GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)


2.10
Financial instruments (continued)

equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2022 - 3).


4.


Fixed asset investments





Other fixed asset investments

£



Cost or valuation


At 1 September 2022
396,582


Additions
15,304


Amounts written off
(95,742)



At 31 August 2023
316,144





5.


Debtors

Page 7

 
ENRICHED MEDIA GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
2023
2022
£
£


Other debtors
453,334
327,460

453,334
327,460



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
16,267
103,606

16,267
103,606



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Corporation tax
112,053
47,512

Other creditors
76,107
76,107

Accruals and deferred income
3,000
3,000

191,160
126,619


Page 8

 
ENRICHED MEDIA GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Other creditors
739,417
739,417

739,417
739,417


The following liabilities were secured:

2023
2022
£
£



Other creditors- loan
739,417
739,417

739,417
739,417

Details of security provided:

The loan has been secured by way of a debenture over the assets of the company.


9.


Financial instruments

2023
2022
£
£

Financial assets


Financial assets measured at fair value through profit or loss
16,267
103,606




Financial assets measured at fair value through profit or loss comprise cash at bank


10.


Related party transactions

During the year the company was provided with a short-term loan from SOBE Media Limited, a company controlled by one of the Directors. This loan was provided interest free during the year and is unsecured.

 
Page 9