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REGISTERED NUMBER: 06212740 (England and Wales)






















Business Trade Media International
Limited

Previously known as
Progressive Media International Limited

Financial Statements for the Year Ended 31st December 2023






Business Trade Media International
Limited (Registered number: 06212740)
previously known as Progressive Media International Limited






Contents of the Financial Statements
for the year ended 31st December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Business Trade Media International
Limited
previously known as Progressive Media International Limited

Company Information
for the year ended 31st December 2023







DIRECTOR: M Danson
G Lilley





REGISTERED OFFICE: John Carpenter House
John Carpenter Street
London
EC4Y 0AN





REGISTERED NUMBER: 06212740 (England and Wales)





AUDITORS: Smailes Goldie
Chartered Accountants
Statutory Auditor
Regent's Court
Princess Street
Hull
East Yorkshire
HU2 8BA

Business Trade Media International
Limited (Registered number: 06212740)
previously known as Progressive Media International Limited

Balance Sheet
31st December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 628,476
Tangible assets 5 - 12,295
- 640,771

CURRENT ASSETS
Debtors 6 1,635,941 2,719,278
Cash in hand 8,663 -
1,644,604 2,719,278
CREDITORS
Amounts falling due within one year 7 5,258,121 5,134,701
NET CURRENT LIABILITIES (3,613,517 ) (2,415,423 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(3,613,517

)

(1,774,652

)

CAPITAL AND RESERVES
Called up share capital 8 1 1
Retained earnings (3,613,518 ) (1,774,653 )
SHAREHOLDERS' FUNDS (3,613,517 ) (1,774,652 )

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 Board of Directors and authorised for issue on 25th November 2024 and were signed by:





G Lilley - Director


Business Trade Media International
Limited (Registered number: 06212740)
previously known as Progressive Media International Limited

Notes to the Financial Statements
for the year ended 31st December 2023

1. STATUTORY INFORMATION

Business Trade Media International Limited 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.

Going Concern
As disclosed in note 12, after the year end the company was acquired by GlobalData UK Limited, who intends to make an intra-group transfer of the trade and assets out of the company, before applying for voluntary strike off under section 1003 of the Companies Act 2006. The directors have therefore prepared the financial statements on a basis other than going concern. There are no significant adjustments to the financial statements as a result of the change in the basis of preparation.

Turnover
Turnover represents the invoiced value of goods sold and services provided during the period, stated net of Value Added Tax. Subscription revenue is allocated to the relevant accounting periods covered by the subscription.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2020, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Computer equipment-33% Straight Line
Fixtures and fittings-20% Straight Line

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 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 69 (2022 - 69 ) .

Business Trade Media International
Limited (Registered number: 06212740)
previously known as Progressive Media International Limited

Notes to the Financial Statements - continued
for the year ended 31st December 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st January 2023
and 31st December 2023 2,705,540
AMORTISATION
At 1st January 2023 2,077,064
Charge for year 80,237
Impairments 548,239
At 31st December 2023 2,705,540
NET BOOK VALUE
At 31st December 2023 -
At 31st December 2022 628,476

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st January 2023
and 31st December 2023 48,054
DEPRECIATION
At 1st January 2023 35,759
Charge for year 12,295
At 31st December 2023 48,054
NET BOOK VALUE
At 31st December 2023 -
At 31st December 2022 12,295

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 895,260 1,231,513
Amounts owed by group undertakings 696,036 1,134,661
Amounts owed by related parties - 47,248
Other debtors 24,795 144,872
Prepayments and accrued income 19,850 160,984
1,635,941 2,719,278

Business Trade Media International
Limited (Registered number: 06212740)
previously known as Progressive Media International Limited

Notes to the Financial Statements - continued
for the year ended 31st December 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts - 92,397
Trade creditors 379,719 277,095
Amounts owed to group undertakings 1,795,941 1,199,190
Amounts owed to related parties 1,028,194 1,028,168
Social security and other taxes 287,910 372,199
Other creditors 82,011 124,218
Accruals and deferred income 1,684,346 2,041,434
5,258,121 5,134,701

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1 Ordinary 1 1 1

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Stephen Bramall BSc FCA (Senior Statutory Auditor)
for and on behalf of Smailes Goldie

Other Matter
The corresponding figures relating to the prior period were not audited.

10. OTHER FINANCIAL COMMITMENTS

The company has total operating lease commitments amounting to £7,843 (2022: £7,164).

11. RELATED PARTY TRANSACTIONS

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

The group and company also entered into transactions in the ordinary course of business with other companies under common control. All transactions were at market value. The balance due from and to companies under common control are shown as related party balances with the notes to these financial statements.

Included within amounts owed to related parties are loans totalling £1,028,194 (2022: £1,028,167). The loans are interest free, have no set repayment date and are repayable on demand. The loan notes are convertible at any time at the option of the loan note holder to ordinary shares of value equivalent to any outstanding balances on loans.

Business Trade Media International
Limited (Registered number: 06212740)
previously known as Progressive Media International Limited

Notes to the Financial Statements - continued
for the year ended 31st December 2023

12. POST BALANCE SHEET EVENTS

On 30 August 2024, the company was acquired by GlobalData UK Limited, who became the immediate controlling party. On this date GlobalData Plc became the ultimate controlling party.

Following the acquisition, a decision was made to transfer the trade and assets of the company to GlobalData UK Limited. The directors then intend to apply for the company to be struck off and dissolved under section 1003 of the Companies Act 2006.

13. ULTIMATE CONTROLLING PARTY

M Danson was the ultimate controlling party through his 100% shareholding of the company at the year end date.

The company's ultimate parent company throughout the year was Estel Media Holdco Limited, which is the ultimate parent of both the smallest and largest groups of which the company accounts are consolidated. The consolidated financial statements are available to the public and may be obtained from Companies House, Crown Way, Cardiff, CF14 3UZ.