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REGISTERED NUMBER: 12794721 (England and Wales)



















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH APRIL 2024

FOR

VERVE MEDIA LTD

VERVE MEDIA LTD (REGISTERED NUMBER: 12794721)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH APRIL 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


VERVE MEDIA LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH APRIL 2024







DIRECTOR: C W A Wilkinson





REGISTERED OFFICE: Unit 3, Glengall Business Centre
43-47 Glengall Road
London
SE15 6NF





REGISTERED NUMBER: 12794721 (England and Wales)





ACCOUNTANTS: ESW Chartered Accountants
162-164 High Street
Rayleigh
Essex
SS6 7BS

VERVE MEDIA LTD (REGISTERED NUMBER: 12794721)

BALANCE SHEET
30TH APRIL 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 1,234,041 1,391,373

CURRENT ASSETS
Debtors 5 634,985 444,458
Cash at bank and in hand 62,804 7,662
697,789 452,120
CREDITORS
Amounts falling due within one year 6 (1,066,555 ) (855,756 )
NET CURRENT LIABILITIES (368,766 ) (403,636 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

865,275

987,737

CREDITORS
Amounts falling due after more than one
year

7

(272,386

)

(408,392

)

PROVISIONS FOR LIABILITIES 9 (194,572 ) (202,410 )
NET ASSETS 398,317 376,935

CAPITAL AND RESERVES
Called up share capital 10 201 201
Retained earnings 398,116 376,734
SHAREHOLDERS' FUNDS 398,317 376,935

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th April 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

VERVE MEDIA LTD (REGISTERED NUMBER: 12794721)

BALANCE SHEET - continued
30TH APRIL 2024


The 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.

The financial statements were approved by the director and authorised for issue on 25th November 2024 and were signed by:





C W A Wilkinson - Director


VERVE MEDIA LTD (REGISTERED NUMBER: 12794721)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH APRIL 2024

1. STATUTORY INFORMATION

Verve Media Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 20% on reducing balance

VERVE MEDIA LTD (REGISTERED NUMBER: 12794721)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH APRIL 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset , with the net amounts presented in the financial statements , when there is a legally 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.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
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.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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. Financial liabilities classified as payable within one year are not amortised.

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

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs.
Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


VERVE MEDIA LTD (REGISTERED NUMBER: 12794721)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH APRIL 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2023 - 17 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and Motor
leasehold machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1st May 2023 - 1,491,006 35,166 119,209 1,645,381
Additions 10,295 89,772 - 102,864 202,931
Disposals - (75,430 ) - - (75,430 )
At 30th April 2024 10,295 1,505,348 35,166 222,073 1,772,882
DEPRECIATION
At 1st May 2023 - 229,010 8,656 16,342 254,008
Charge for year 1,030 248,580 5,302 37,464 292,376
Eliminated on disposal - (7,543 ) - - (7,543 )
At 30th April 2024 1,030 470,047 13,958 53,806 538,841
NET BOOK VALUE
At 30th April 2024 9,265 1,035,301 21,208 168,267 1,234,041
At 30th April 2023 - 1,261,996 26,510 102,867 1,391,373

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 409,890 315,724
Other debtors 225,095 128,734
634,985 444,458

VERVE MEDIA LTD (REGISTERED NUMBER: 12794721)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH APRIL 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 5,786 1,299
Hire purchase contracts 217,901 290,307
Trade creditors 547,107 359,937
Taxation and social security 277,599 161,385
Other creditors 18,162 42,828
1,066,555 855,756

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 272,386 408,392

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 490,287 698,699

Hire purchase agreements are secured over the asset to which they relate.

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 194,572 202,410

Deferred
tax
£   
Balance at 1st May 2023 202,410
Accelerated capital allowances (7,838 )
Balance at 30th April 2024 194,572

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
80 Ordinary A 50p 50p 40 40
30 Ordinary B 50p 50p 15 15
40 Ordinary C 50p 50p 20 20
125 Ordinary D 50p 50p 63 63
125 Ordinary E 50p 50p 63 63
201 201

VERVE MEDIA LTD (REGISTERED NUMBER: 12794721)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH APRIL 2024

11. RELATED PARTY DISCLOSURES

During the year the company undertook the following transactions with related undertakings by way of common ownership and control.

Company Nature of transaction 2024 2023
Video Europe Limited Sales 4,466 33,864
Video Europe Limited Expenditure 626,805 1,037,292

As at the balance sheet date the financial statements included the following loan account balances with associated companies;

Company Nature of transaction 2024 2023
Video Europe Limited Trade debtors - 29
Video Europe Limited Trade creditors - 49,657
Video Europe Limited Other creditors - 623
VE2 Limited Other debtors 130,000 -