Caseware UK (AP4) 2023.0.135 2023.0.135 2024-02-292024-02-292023-03-01false44truetrue 03220190 2023-03-01 2024-02-29 03220190 2022-03-01 2023-02-28 03220190 2024-02-29 03220190 2023-02-28 03220190 2022-03-01 03220190 c:Director3 2023-03-01 2024-02-29 03220190 d:CurrentFinancialInstruments 2024-02-29 03220190 d:CurrentFinancialInstruments 2023-02-28 03220190 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-29 03220190 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 03220190 d:ShareCapital 2024-02-29 03220190 d:ShareCapital 2023-02-28 03220190 d:ShareCapital 2022-03-01 03220190 d:RetainedEarningsAccumulatedLosses 2023-03-01 2024-02-29 03220190 d:RetainedEarningsAccumulatedLosses 2024-02-29 03220190 d:RetainedEarningsAccumulatedLosses 2022-03-01 2023-02-28 03220190 d:RetainedEarningsAccumulatedLosses 2023-02-28 03220190 d:RetainedEarningsAccumulatedLosses 2022-03-01 03220190 c:FRS102 2023-03-01 2024-02-29 03220190 c:Audited 2023-03-01 2024-02-29 03220190 c:FullAccounts 2023-03-01 2024-02-29 03220190 c:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 03220190 c:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 iso4217:GBP xbrli:pure

Registered number: 03220190










REDACTIVE MEDIA SALES LIMITED










FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 29 FEBRUARY 2024

 
REDACTIVE MEDIA SALES LIMITED
REGISTERED NUMBER: 03220190

BALANCE SHEET
AS AT 29 FEBRUARY 2024

29 February
28 February
2024
2023
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 5 
1,829,237
1,673,321

Cash at bank and in hand
 6 
563,498
1,320,175

  
2,392,735
2,993,496

Creditors: amounts falling due within one year
 7 
(2,366,628)
(2,979,499)

Net current assets
  
 
 
26,107
 
 
13,997

Total assets less current liabilities
  
26,107
13,997

  

Net assets
  
26,107
13,997


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
26,105
13,995

  
26,107
13,997


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 28 November 2024.




C Radcliffe
Director

The notes on pages 4 to 7 form part of these financial statements.

Page 1

 
REDACTIVE MEDIA SALES LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 29 FEBRUARY 2024


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 March 2023
2
13,995
13,997



Profit for the year
-
362,110
362,110

Dividends: Equity capital
-
(350,000)
(350,000)


At 29 February 2024
2
26,105
26,107


The notes on pages 4 to 7 form part of these financial statements.

Page 2

 
REDACTIVE MEDIA SALES LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 28 FEBRUARY 2023


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 March 2022
2
271,180
271,182



Profit for the year
-
402,815
402,815

Dividends: Equity capital
-
(660,000)
(660,000)


At 28 February 2023
2
13,995
13,997


The notes on pages 4 to 7 form part of these financial statements.

Page 3

 
REDACTIVE MEDIA SALES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1.


General information

The company is a private company limited by shares and is incorporated in England and Wales. The address of its registered office is 71-75 Shelton Street, London, England, WC2H 9JQ.

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

Revenue

Revenue from advertising services is recognised when the magazine is published. Revenue is measured as the fair value of consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

 
2.3

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.4

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.

 
2.5

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.

 
2.6

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.

 
2.7

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Page 4

 
REDACTIVE MEDIA SALES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)


2.7
Financial instruments (continued)

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

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 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.

 
2.8

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Page 5

 
REDACTIVE MEDIA SALES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

4.


Employees

The average monthly number of employees, including directors, during the year was 4 (2023 - 4).


5.


Debtors

29 February
28 February
2024
2023
£
£


Trade debtors
203,029
394,061

Amounts owed by group undertakings
1,608,875
1,259,741

Prepayments and accrued income
17,333
19,519

1,829,237
1,673,321



6.


Cash and cash equivalents

29 February
28 February
2024
2023
£
£

Cash at bank and in hand
563,498
1,320,175



7.


Creditors: Amounts falling due within one year

29 February
28 February
2024
2023
£
£

Trade creditors
291,089
711,576

Amounts owed to group undertakings
1,692,999
1,942,256

Corporation tax
73,243
69,092

Other taxation and social security
18,691
18,659

Accruals and deferred income
290,606
237,916

2,366,628
2,979,499



8.


Related party transactions

The company has taken advantage of the exemption provided in Financial Reporting Standard 102 Section 1A from disclosing transactions with members of the same group that are wholly owned.

Page 6

 
REDACTIVE MEDIA SALES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

9.


Controlling party

The immediate parent company during the year was Redactive Media Group Limited, a company incorporated in England. The ultimate parent company during the year was Redactive Media Group (Holdings) Limited, a company incorporated in England.
The group for which consolidated financial statements are prepared which include the results of this company is that headed by Redactive Media Group (Holdings) Limited, who's registered office is:
71-75 Shelton Street
London
WC2H 9JQ


10.


Auditors' information

The auditors' report on the financial statements for the year ended 29 February 2024 was unqualified.

The audit report was signed on 28 November 2024 by Atulya Mehta FCCA (Senior statutory auditor) on behalf of Sumer Auditco Limited.

 
Page 7