Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312024-03-31falsetrue292023-04-01falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.No description of principal activity30false 03724289 2023-03-31 03724289 2023-04-01 2024-03-31 03724289 2022-01-01 2022-12-31 03724289 2024-03-31 03724289 2022-12-31 03724289 2022-01-01 03724289 c:CompanySecretary1 2023-04-01 2024-03-31 03724289 c:Director2 2023-04-01 2024-03-31 03724289 c:Director3 2023-04-01 2024-03-31 03724289 c:Director5 2023-04-01 2024-03-31 03724289 c:RegisteredOffice 2023-04-01 2024-03-31 03724289 c:Agent1 2023-04-01 2024-03-31 03724289 d:PlantMachinery 2023-04-01 2024-03-31 03724289 d:PlantMachinery 2024-03-31 03724289 d:PlantMachinery 2022-12-31 03724289 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 03724289 d:FurnitureFittings 2023-04-01 2024-03-31 03724289 d:FurnitureFittings 2024-03-31 03724289 d:FurnitureFittings 2022-12-31 03724289 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 03724289 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 03724289 d:Goodwill 2024-03-31 03724289 d:Goodwill 2022-12-31 03724289 d:CurrentFinancialInstruments 2024-03-31 03724289 d:CurrentFinancialInstruments 2022-12-31 03724289 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 03724289 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 03724289 d:ShareCapital 2024-03-31 03724289 d:ShareCapital 2022-12-31 03724289 d:ShareCapital 2022-01-01 03724289 d:SharePremium 2023-04-01 2024-03-31 03724289 d:SharePremium 2024-03-31 03724289 d:SharePremium 2022-12-31 03724289 d:SharePremium 2022-01-01 03724289 d:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 03724289 d:RetainedEarningsAccumulatedLosses 2024-03-31 03724289 d:RetainedEarningsAccumulatedLosses 2022-01-01 2022-12-31 03724289 d:RetainedEarningsAccumulatedLosses 2022-12-31 03724289 d:RetainedEarningsAccumulatedLosses 2022-01-01 03724289 c:OrdinaryShareClass1 2023-04-01 2024-03-31 03724289 c:OrdinaryShareClass1 2024-03-31 03724289 c:OrdinaryShareClass1 2022-12-31 03724289 c:FRS102 2023-04-01 2024-03-31 03724289 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 03724289 c:FullAccounts 2023-04-01 2024-03-31 03724289 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 03724289 d:Subsidiary1 2023-04-01 2024-03-31 03724289 d:Subsidiary1 1 2023-04-01 2024-03-31 03724289 d:Subsidiary2 2023-04-01 2024-03-31 03724289 d:Subsidiary2 1 2023-04-01 2024-03-31 03724289 d:WithinOneYear 2024-03-31 03724289 d:WithinOneYear 2022-12-31 03724289 d:BetweenOneFiveYears 2024-03-31 03724289 d:BetweenOneFiveYears 2022-12-31 03724289 c:Consolidated 2024-03-31 03724289 c:ConsolidatedGroupCompanyAccounts 2023-04-01 2024-03-31 03724289 2 2023-04-01 2024-03-31 03724289 6 2023-04-01 2024-03-31 03724289 e:PoundSterling 2023-04-01 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure


Registered number: 03724289












IR MEDIA GROUP LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

 

IR MEDIA GROUP LIMITED

CONTENTS



Page
Company information
 
1
Consolidated balance sheet
 
2 - 3
Company balance sheet
 
4 - 5
Consolidated statement of changes in equity
 
6
Company statement of changes in equity
 
7
Notes to the financial statements
 
8 - 18


 

IR MEDIA GROUP LIMITED
 
COMPANY INFORMATION


Directors
C H B Mills 
C P H Mills 
G Iyer 




Company secretary
A Ryan-Coker



Registered number
03724289



Registered office
6 Lloyd's Avenue

London

EC3N 3AX




Accountants
Blick Rothenberg Limited
Chartered Accountants

16 Great Queen Street

Covent Garden

London

WC2B 5AH




Bankers
Allied Irish Bank
10 Berkeley Square

London

W1J 6AA




Page 1


 
REGISTERED NUMBER:03724289
IR MEDIA GROUP LIMITED

CONSOLIDATED BALANCE SHEET
AS AT 31 MARCH 2024

2024
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
-
-

Tangible assets
 5 
55,443
89,246

  
55,443
89,246

Current assets
  

Debtors: amounts falling due within one year
 7 
788,599
584,976

Cash at bank and in hand
 8 
649,331
486,022

  
1,437,930
1,070,998

Creditors: amounts falling due within one year
 9 
(1,104,539)
(542,522)

Net current assets
  
 
 
333,391
 
 
528,476

Net assets
  
388,834
617,722


Capital and reserves
  

Called up share capital 
 10 
1,043,912
1,043,912

Share premium account
 11 
1,356,576
1,356,576

Profit and loss account
 11 
(2,011,654)
(1,782,766)

Equity attributable to owners of the parent Company
  
388,834
617,722

Total equity
  
388,834
617,722


Page 2


 
REGISTERED NUMBER:03724289
IR MEDIA GROUP LIMITED
    
CONSOLIDATED BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

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 period 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 consolidated 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 by: 




G Iyer
Director

Date: 14 November 2024

The notes on pages 8 to 18 form part of these financial statements.

Page 3


 
REGISTERED NUMBER:03724289
IR MEDIA GROUP LIMITED

COMPANY BALANCE SHEET
AS AT 31 MARCH 2024

As restated
2024
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
54,585
89,177

Investments
 6 
126
75,126

  
54,711
164,303

Current assets
  

Debtors: amounts falling due within one year
 7 
372,823
160,983

Cash at bank and in hand
 8 
97,212
294,016

  
470,035
454,999

Creditors: amounts falling due within one year
 9 
(226,046)
(202,286)

Net current assets
  
 
 
243,989
 
 
252,713

Total assets less current liabilities
  
298,700
417,016

  

  

Net assets
  
298,700
417,016


Capital and reserves
  

Called up share capital 
 10 
1,043,912
1,043,912

Share premium account
 11 
1,356,576
1,356,576

Profit and loss account brought forward
  
(1,983,472)
(2,208,163)

Loss/(profit) for the period
  
(118,316)
224,691

Profit and loss account carried forward
  
(2,101,788)
(1,983,472)

Total equity
  
298,700
417,016


Page 4


 
REGISTERED NUMBER:03724289
IR MEDIA GROUP LIMITED
    
COMPANY BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The directors consider that the Company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period 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 Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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 consolidated 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 by: 


G Iyer
Director

Date: 14 November 2024

The notes on pages 8 to 18 form part of these financial statements.

Page 5

 

IR MEDIA GROUP LIMITED

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 MARCH 2024


Called up share capital
Share premium account
Profit and loss account
Total equity

£
£
£
£


At 1 January 2022
1,043,912
1,356,576
(2,074,374)
326,114


Comprehensive income for the year

Profit for the year
-
-
291,608
291,608



At 31 December 2022
1,043,912
1,356,576
(1,782,766)
617,722


Comprehensive income for the period

Loss for the period
-
-
(228,888)
(228,888)


At 31 March 2024
1,043,912
1,356,576
(2,011,654)
388,834


Page 6

 

IR MEDIA GROUP LIMITED

COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 MARCH 2024


Called up share capital
Share premium account
Profit and loss account
Total equity

£
£
£
£


At 1 January 2022
1,043,912
1,356,576
(2,208,163)
192,325


Comprehensive income for the year

Profit for the year
-
-
224,691
224,691



At 31 December 2022
1,043,912
1,356,576
(1,983,472)
417,016


Comprehensive income for the year

Loss for the period
-
-
(118,316)
(118,316)


At 31 March 2024
1,043,912
1,356,576
(2,101,788)
298,700


Page 7

 

IR MEDIA GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

1.


General information

IR Media Group Limited (“the company”) is a private company limited by shares and incorporated in England and Wales. The registered office is 6 Lloyd's Avenue, London, EC3N 3AX.
The Group consists of IR Media Group Limited and all of its subsidiaries.
The financial statements are presented in Sterling (£), which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared for a long period from 1 January 2023 to 31 March 2024.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The consolidated financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Profit and loss account in these financial statements.

The following principal accounting policies have been applied:

 
2.2

Basis of consolidation

The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Balance sheet, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated profit and loss account from the date on which control is obtained. They are deconsolidated from the date control ceases. 

 
2.3

Going concern

After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being a period of at least twelve months from the date these financial statements were approved. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Page 8

 

IR MEDIA GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Group and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Group will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.5

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.

On consolidation, the results of overseas operations are translated into Sterling at rates approximating to those ruling when the transactions took place. All assets and liabilities of overseas operations are translated at the rate ruling at the reporting date. Exchange differences arising on translating the opening net assets at opening rate and the results of overseas operations at actual rate are recognised in other comprehensive income.

 
2.6

Operating leases: the Group as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

Page 9

 

IR MEDIA GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.7

Interest income

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

 
2.8

Pensions

Defined contribution pension plan

The Group operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Group pays fixed contributions into a separate entity. Once the contributions have been paid the Group has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Group in independently administered funds.

 
2.9

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
33%
Fixtures and fittings
-
20%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.11

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Group shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Consolidated profit and loss account for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Page 10

 

IR MEDIA GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.12

Cash

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

  
2.13

Share capital

Ordinary shares are classified as equity.

  
2.14

Financial instruments

The company has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments.
Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the instrument. 
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
The company’s policies for its major classes of financial assets and financial liabilities are set out below. 
Financial assets
Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, 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 for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.
Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.
Financial liabilities
Basic financial liabilities, including trade and other creditors and loans from fellow group companies are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Impairment of financial assets
Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account. 
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount the company would receive for the asset if it were to be sold at the reporting date. 
For financial assets measured at amortised cost, the impairment loss is measured as the difference
Page 11

 

IR MEDIA GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

2.Accounting policies (continued)

between the asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract. 
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.
Derecognition of financial assets and financial liabilities
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions. 
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires. 
Offsetting of financial assets and financial liabilities
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


3.


Employees

Group
Group
Company
Company
2024
2022
2024
2022
£
£
£
£


Wages and salaries
2,079,116
1,612,406
1,710,448
1,333,437

Social security costs
231,809
177,708
202,078
155,784

Cost of defined contribution scheme
62,863
43,907
52,445
36,229

2,373,788
1,834,021
1,964,971
1,525,450


The average monthly number of employees, including the directors, during the period was as follows:



Group
Group
Company
Company
        2024
        2022
        2024
        2022
            No.
            No.
            No.
            No.









Employees
32
32
29
30

Page 12

 

IR MEDIA GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

4.


Intangible assets

Group





Goodwill

£



Cost


At 1 January 2023
2,400,248



At 31 March 2024

2,400,248



Amortisation


At 1 January 2023
2,400,248



At 31 March 2024

2,400,248



Net book value



At 31 March 2024
-



At 31 December 2022
-



Company




Goodwill

£



Cost


At 1 January 2023
2,400,248



At 31 March 2024

2,400,248



Amortisation


At 1 January 2023
2,400,248



At 31 March 2024

2,400,248



Net book value



At 31 March 2024
-



At 31 December 2022
-

Page 13

 

IR MEDIA GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

5.


Tangible fixed assets

Group






Plant and machinery
Fixtures and fittings
Total

£
£
£



Cost


At 1 January 2023
233,798
19,339
253,137


Additions
30,644
1,420
32,064


Disposals
(104,183)
(24)
(104,207)



At 31 March 2024

160,259
20,735
180,994



Depreciation


At 1 January 2023
150,290
13,601
163,891


Charge for the period
62,175
3,208
65,383


Disposals
(103,711)
(12)
(103,723)



At 31 March 2024

108,754
16,797
125,551



Net book value



At 31 March 2024
51,505
3,938
55,443



At 31 December 2022
83,508
5,738
89,246

Page 14

 

IR MEDIA GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

           5.Tangible fixed assets (continued)


Company






Plant and machinery
Fixtures and fittings
Total

£
£
£

Cost


At 1 January 2023
229,960
19,315
249,275


Additions
29,456
1,420
30,876


Disposals
(100,345)
-
(100,345)



At 31 March 2024

159,071
20,735
179,806



Depreciation


At 1 January 2023
146,509
13,589
160,098


Charge for the period
61,845
3,208
65,053


Disposals
(99,930)
-
(99,930)



At 31 March 2024

108,424
16,797
125,221



Net book value



At 31 March 2024
50,647
3,938
54,585



At 31 December 2022
83,451
5,726
89,177






Page 15

 

IR MEDIA GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

6.


Fixed asset investments

Company





Investments in subsidiary companies

£



Cost


At 1 January 2023 (as restated)
75,126


Disposals
(75,000)



At 31 March 2024
126





Subsidiary undertakings


The following were subsidiary undertakings of the Company:

Name

Registered office

Class of shares

Holding

IR Media Group USA Inc.
222 Broadway, 19th floor, New York, 10038
Ordinary
100%
XBI Limited
6 Lloyd's Avenue, 4th floor Front, London, EC3N 3AX
Ordinary
100%


7.


Debtors

Group
Group
Company
Company
2024
2022
2024
2022
£
£
£
£


Trade debtors
381,751
358,434
76,810
44,828

Other debtors
41,702
40,214
42,254
35,199

Prepayments and accrued income
365,146
186,328
253,759
80,956

788,599
584,976
372,823
160,983



8.


Cash and cash equivalents

Group
Group
Company
Company
2024
2022
2024
2022
£
£
£
£

Cash at bank and in hand
649,331
486,022
97,212
294,016


Page 16

 

IR MEDIA GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

9.


Creditors: Amounts falling due within one year

Group

Group

Company

Company
As restated
2024
2022
2024
2022
£
£
£
£

Trade creditors
86,728
72,859
17,973
11,637

Amounts owed to group undertakings
-
-
1
75,001

Other taxation and social security
34,644
49,753
34,644
49,753

Other creditors
23,369
2,139
-
2,139

Accruals and deferred income
959,798
417,771
173,428
63,756

1,104,539
542,522
226,046
202,286



10.


Share capital

2024
2022
£
£
Allotted, called up and fully paid



10,439,120 (2023 - 10,439,120) Ordinary shares of £0.10 each
1,043,912
1,043,912



11.


Reserves

Share premium account

The share premium reserve includes any premiums received on issue of share capital. Any transaction costs associated with the issuing of shares are deducted from share premium.

Profit and loss account

The profit and loss account includes all current and prior period retained profits and losses.


12.


Prior year adjustment

The comparative figure of the fixed asset investments in the company only balance sheet has been restated to correctly include an addition of £1 which was not included in prior years. The reclassification has no impact on the profit or loss or on the net assets of the company as presented at 31 December 2022. Investments were £75,125 in the previously filed 2022 accounts and these have now increased by £1. Additionally, creditors due within one year were £202,285 and these have now increased by £1.


13.


Pension commitments

The Group operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Group  in an independently administered fund. The pension cost charge represents contributions payable by the Group  to the fund and amounted to £62,863 (2022 - £43,907) . Contributions totalling £Nil (2022 - £Nil) were payable to the fund at the balance sheet date and are included in creditors.

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IR MEDIA GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

14.


Commitments under operating leases

At 31 March 2024 the Group and the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:


Group
Group
Company
Company
2024
2022
2024
2022
£
£
£
£

Not later than 1 year
131,747
67,969
110,000
55,000

Later than 1 year and not later than 5 years
385,000
495,000
385,000
495,000

516,747
562,969
495,000
550,000


15.


Related party transactions

The company has taken advantage of the exemption available in FRS102 Section 33.1A "Related Party Disclosures" from disclosing transactions with entities which are wholly owned part of the group.


16.


Controlling party

In the opinion of the directors, the ultimate controlling party is C Mills.

 
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