Acorah Software Products - Accounts Production 16.0.110 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 03872818 Mr Alexis Soteriou Mr Carl Adair iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 03872818 2023-03-31 03872818 2024-03-31 03872818 2023-04-01 2024-03-31 03872818 frs-core:CurrentFinancialInstruments 2024-03-31 03872818 frs-core:Non-currentFinancialInstruments 2024-03-31 03872818 frs-core:FurnitureFittings 2024-03-31 03872818 frs-core:FurnitureFittings 2023-04-01 2024-03-31 03872818 frs-core:FurnitureFittings 2023-03-31 03872818 frs-core:PlantMachinery 2024-03-31 03872818 frs-core:PlantMachinery 2023-04-01 2024-03-31 03872818 frs-core:PlantMachinery 2023-03-31 03872818 frs-core:CapitalRedemptionReserve 2024-03-31 03872818 frs-core:SharePremium 2024-03-31 03872818 frs-core:ShareCapital 2024-03-31 03872818 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 03872818 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 03872818 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 03872818 frs-bus:SmallEntities 2023-04-01 2024-03-31 03872818 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 03872818 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 03872818 frs-core:CostValuation 2023-03-31 03872818 frs-core:CostValuation 2024-03-31 03872818 frs-core:ProvisionsForImpairmentInvestments 2023-03-31 03872818 frs-core:ProvisionsForImpairmentInvestments 2024-03-31 03872818 frs-bus:Director1 2023-04-01 2024-03-31 03872818 frs-bus:Director2 2023-04-01 2024-03-31 03872818 frs-countries:EnglandWales 2023-04-01 2024-03-31 03872818 2022-03-31 03872818 2023-03-31 03872818 2022-04-01 2023-03-31 03872818 frs-core:CurrentFinancialInstruments 2023-03-31 03872818 frs-core:Non-currentFinancialInstruments 2023-03-31 03872818 frs-core:CapitalRedemptionReserve 2023-03-31 03872818 frs-core:SharePremium 2023-03-31 03872818 frs-core:ShareCapital 2023-03-31 03872818 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 03872818
Media Interactive Europe Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Inspire Accounting (UK) Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 03872818
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 3,035 4,047
Investments 5 13,540 13,540
16,575 17,587
CURRENT ASSETS
Debtors 6 154,644 256,895
Investments 7 2 2
Cash at bank and in hand 104,032 81,766
258,678 338,663
Creditors: Amounts Falling Due Within One Year 8 (126,352 ) (166,139 )
NET CURRENT ASSETS (LIABILITIES) 132,326 172,524
TOTAL ASSETS LESS CURRENT LIABILITIES 148,901 190,111
Creditors: Amounts Falling Due After More Than One Year 9 (93,100 ) (120,050 )
NET ASSETS 55,801 70,061
CAPITAL AND RESERVES
Called up share capital 10 166 166
Share premium account 83,183 83,183
Capital redemption reserve 34 34
Profit and Loss Account (27,582 ) (13,322 )
SHAREHOLDERS' FUNDS 55,801 70,061
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Alexis Soteriou
Director
31/07/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Media Interactive Europe Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03872818 . The registered office is Ertosun House, 61 Widmore Road, Bromley, Kent, BR1 3AA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% on writtendown value
Fixtures & Fittings 25% on written down value
2.4. Taxation
Income tax expense represents the sum of the tax currently payable.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 9 (2023: 10)
9 10
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Total
£ £ £
Cost
As at 1 April 2023 14,855 20,216 35,071
As at 31 March 2024 14,855 20,216 35,071
Depreciation
As at 1 April 2023 12,354 18,670 31,024
Provided during the period 625 387 1,012
As at 31 March 2024 12,979 19,057 32,036
...CONTINUED
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Page 4
Net Book Value
As at 31 March 2024 1,876 1,159 3,035
As at 1 April 2023 2,501 1,546 4,047
5. Investments
Other
£
Cost
As at 1 April 2023 13,540
As at 31 March 2024 13,540
Provision
As at 1 April 2023 -
As at 31 March 2024 -
Net Book Value
As at 31 March 2024 13,540
As at 1 April 2023 13,540
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 11,823 62,939
Prepayments and accrued income 14,970 14,970
Other debtors 126,626 177,447
VAT 1,225 1,539
154,644 256,895
7. Current Asset Investments
2024 2023
£ £
Shares in subsidiaries 2 2
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 85,551 135,610
Bank loans and overdrafts - 13,078
Corporation tax 17,173 4,821
Other taxes and social security 7,146 8,543
Accruals and deferred income 16,475 4,080
Directors' loan accounts 7 7
126,352 166,139
Page 4
Page 5
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 93,100 120,050
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 166 166
Page 5