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REGISTERED NUMBER: 11874532 (England and Wales)















Financial Statements for the Period 1 January 2024 to 31 October 2024

for

Media.net EU Support Ltd

Media.net EU Support Ltd (Registered number: 11874532)






Contents of the Financial Statements
for the Period 1 January 2024 to 31 October 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Media.net EU Support Ltd

Company Information
for the Period 1 January 2024 to 31 October 2024







DIRECTOR: R Shroff





REGISTERED OFFICE: C/o Tax partners
60 Grays Inn Road
London
WC1X 8AQ





REGISTERED NUMBER: 11874532 (England and Wales)





AUDITORS: Mark Arber Limited
71-75 Shelton Street
Covent Garden
London
WC2H 9JQ

Media.net EU Support Ltd (Registered number: 11874532)

Balance Sheet
31 October 2024

31.10.24 31.12.23
Notes £    £   
CURRENT ASSETS
Debtors 4 1,000 108,754
Cash at bank - 7,149
1,000 115,903
CREDITORS
Amounts falling due within one year 5 - 15,545
NET CURRENT ASSETS 1,000 100,358
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,000

100,358

CAPITAL AND RESERVES
Called up share capital 6 1,000 1,000
Retained earnings 7 - 99,358
SHAREHOLDERS' FUNDS 1,000 100,358

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 3 December 2024 and were signed by:





R Shroff - Director


Media.net EU Support Ltd (Registered number: 11874532)

Notes to the Financial Statements
for the Period 1 January 2024 to 31 October 2024

1. STATUTORY INFORMATION

Media.Net EU Support Ltd ("the company") is a private limited company incorporated (Company No. 11874532) in England in the United Kingdom.

Principal place of business
The registered office of the company is C/O Tax Partners, 60 Grays Inn Road, London, England, WC1X 8AQ.

Presentation currency
The financial statements are presented in Sterling which is the functional currency of the company.

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.

Cash flow statement
In accordance with Financial Reporting Standard 102, there is no requirement for the company to prepare a cash flow statement.

Going concern
The financial statements have been prepared on the breakup basis, reflecting the Directors' decision to perform an orderly winding down of the Company's operations.

The Company has ceased its primary trading activities and has laid off its staff as part of the planned closure process. The Directors have assessed the Company's financial position and confirm that sufficient resources are available to meet the liabilities as they fall due during the wind-down period.

Turnover
Turnover represents the amounts receivable, on an accruals basis, in respect of support services provided to the parent company under the terms of an inter-company service agreement.

Taxation
Taxation for the period 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.


Media.net EU Support Ltd (Registered number: 11874532)

Notes to the Financial Statements - continued
for the Period 1 January 2024 to 31 October 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 period 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 3 (2023 - 3 ) .

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR
31.10.24 31.12.23
£    £   
Amounts owed by group undertakings 1,000 108,754

Media.net EU Support Ltd (Registered number: 11874532)

Notes to the Financial Statements - continued
for the Period 1 January 2024 to 31 October 2024

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR
31.10.24 31.12.23
£    £   
Tax - 7,994
Accrued expenses - 7,551
- 15,545

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.10.24 31.12.23
value: £    £   
1,000 Ordinary £1 1,000 1,000

7. RESERVES
Retained
earnings
£   

At 1 January 2024 99,358
Profit for the period 14,556
Dividends (113,914 )
At 31 October 2024 -

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

The Report of the Auditors was unqualified.


As disclosed in note 2 top the financial statements the financial statements have been prepared on the breakup basis, reflecting the Directors' decision to perform an orderly winding down of the Company's operations.

The Company has ceased its primary trading activities and has laid off its staff as part of the planned closure process. The Directors have assessed the Company's financial position and confirm that sufficient resources are available to meet the liabilities as they fall due during the wind-down period.

Mark Arber (Senior Statutory Auditor)
for and on behalf of Mark Arber Limited

Media.net EU Support Ltd (Registered number: 11874532)

Notes to the Financial Statements - continued
for the Period 1 January 2024 to 31 October 2024

9. RELATED PARTY DISCLOSURES

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.

10. ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of Media.net Advertising FZ - LLC, a company incorporated in the United Arab Emirates.

The ultimate controlling party is Mr Divyank Turakhia.