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Registered Number: 07429747
England and Wales

 

 

 


Abridged Accounts

for the year ended 31 December 2023

for

MEDIA15 LIMITED

In order to assist you to fulfil your duties under the Companies Act 2006 we have prepared for your approval the financial statements of Media15 Limited for the year ended 31 December 2023 which comprise the statement of income and retained earnings, the balance sheet and related notes from the company's accounting records and from information and explanations that you have given us. 


As a practicing member firm of the Association of Chartered Certified Accountants we are subject to its ethical and other professional requirements. 


This report is made solely to the Board of Directors of Media15 Limited as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Media15 Limited and state those matters which we have agreed to state to the Board of Directors of Media15 as a body. In this report we do not accept or assume responsibility to anyone other then Media15 Limited and its Board of Directors as a body for our work or for this report. 


It is your duty to ensure that Media15 Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Media15 Limited. You consider that Media15 Limited is exempt from the statutory audit requirement for the year. 


We have not been instructed to carry out an audit or a review of the financial statements of Media15 Limited. For this reason we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. 



....................................................

Inspiro Advisory Limited

Manor Farm House
Ship Lane
Marsworth
HP23 4NA
22 October 2024
1
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Intangible fixed assets 4   270,000 
  270,000 
Current assets      
Debtors 1,673,232    1,986,254 
Cash at bank and in hand 486,054    183,487 
2,159,286    2,169,741 
Creditors: amount falling due within one year (1,804,388)   (2,265,707)
Net current assets 354,898    (95,966)
 
Total assets less current liabilities 354,898    174,034 
Creditors: amount falling due after more than one year (420,833)   (120,833)
Net assets (65,935)   53,201 
 

Capital and reserves
     
Called up share capital 5 1,000    1,000 
Share premium account 4,975    4,975 
Profit and loss account (71,910)   47,226 
Shareholders' funds (65,935)   53,201 
 


For the year ended 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:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 22 October 2024 and were signed by:


-------------------------------
Dominic Matterson
Director
2
General Information
Media15 Limited is a private company, limited by shares, registered in England and Wales, registration number 07429747, registration address 11-13 Market Place, London, W1W 8AH.


1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with Section 1A of FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are prepared in sterling which is the functional currency of the company. 
Turnover
Turnover comprises the invoiced value of advertising services supplied by the company, net of Value Added Tax and trade discounts.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Taxation
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 expenses 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. 

Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Development expenditures
Research and development expenditure is charged to the income statement in the period in which it is incurred. However, where the directors are satisfied as to the technical, commercial and financial viability of individual projects, development expenditure is deferred and amortised over 10 years during which the company is expected to benefit.
2.

Retirement benefits

2023
£
  2022
£
Wages and salaries 430,805    294,209 
Social security costs 50,424    55,866 
Pension costs, defined contribution plan 12,413    7,576 
Other staff costs   16,400 
493,642    374,051 
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. 

3.

Average number of employees

Average number of employees during the year was 10 (2022 : 11).
4.

Intangible fixed assets

Cost Other   Total
  £   £
At 01 January 2023 300,000    300,000 
Additions  
Disposals (300,000)   (300,000)
At 31 December 2023  
Amortisation
At 01 January 2023 30,000    30,000 
Charge for year  
On disposals (30,000)   (30,000)
At 31 December 2023  
Net book values
At 31 December 2023  
At 31 December 2022 270,000    270,000 


5.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
1,000 Ordinary shares of £1.00 each 1,000    1,000 
1,000    1,000 

6.

Advances and Credits



Dominic Matterson
Loan

Current year (2023)
Brought Forward
£
Amount
£
Interest
£
Repaid
£
Written Off
£
Waived
£
Carry Forward
£
Dominic Matterson38,052 43,746 81,798 
3805243746000081798
Previous year (2022)
Brought Forward
£
Amount
£
Interest
£
Repaid
£
Written Off
£
Waived
£
Carry Forward
£
Dominic Matterson18,807 19,245 38,052 
1880719245000038052
3