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Registered number: 03352758














MEDIA ADVISORY SERVICES LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED  31 DECEMBER 2023

 
MEDIA ADVISORY SERVICES LIMITED
 

CONTENTS



Page
Statement of Financial Position
 
1 - 2
Notes to the Financial Statements
 
3 - 6


 
MEDIA ADVISORY SERVICES LIMITED
REGISTERED NUMBER:03352758

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
407
993

Investments
 5 
20,335
22,571

  
20,742
23,564

Current assets
  

Debtors: amounts falling due within one year
 6 
2,905,194
3,059,312

Cash at bank and in hand
  
354,481
626,572

  
3,259,675
3,685,884

Current liabilities
  

Creditors: amounts falling due within one year
 7 
(2,790,734)
(3,167,593)

Net current assets
  
 
 
468,941
 
 
518,291

  

Net assets
  
489,683
541,855


Capital and reserves
  

Called up share capital 
 8 
259,981
259,981

Other reserves
  
9,479
11,715

Profit and loss account
  
220,223
270,159

  
489,683
541,855


Page 1

 
MEDIA ADVISORY SERVICES LIMITED
REGISTERED NUMBER:03352758
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023

The Director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The Director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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 statement of comprehensive income 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 24 December 2024.




D Kadeyan
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
MEDIA ADVISORY SERVICES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Media Advisory Services Limited is a limited liability company registered in England and Wales. Its registered office address is at 2nd Floor Connaught House 1-3 Mount Street, London,  W1K 3NB.
The principal activity of the Company during the year was that of advisory services.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The Company is the parent undertaking of a small group and as such is not required by the Companies Act 2006 to prepare group accounts. These financial statements therefore present information about the Company as an individual undertaking and not about its group.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
2.3

Turnover

Turnover comprises revenue recognised by the company in respect of services supplied in the year exclusive of trade discounts and excluding value added tax. 
 
Revenue is recognised when the service is provided.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
MEDIA ADVISORY SERVICES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.5

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 reporting date in the countries where the Company operates and generates income.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
 25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Valuation of investments

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.8

Basic financial instruments

The Company only enters into transactions that result in basic financial instruments such as trade and other debtors, trade and other creditors, cash at bank and in hand, loans to related parties. 
Trade debtors, other debtors and loans to related parties are recognised initially at the transaction price less attributable transaction costs. Trade creditors, other creditors and loans from related parties are recognised initially at transaction price plus attributable transaction costs. Subsequently they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade and other debtors, and loans to related parties. 
Cash and cash equivalents comprise cash balances and call deposits. 

Page 4

 
MEDIA ADVISORY SERVICES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

3.


Employees




The average monthly number of employees, including directors, during the year was 1 (2022 - 1).


4.


Tangible fixed assets





Plant and machinery

£



Cost or valuation


At 1 January 2023
1,387


Disposals
(637)



At 31 December 2023

750



Depreciation


At 1 January 2023
394


Charge for the year on owned assets
188


Disposals
(239)



At 31 December 2023

343



Net book value



At 31 December 2023
407



At 31 December 2022
992


5.


Fixed asset investments





Unlisted investments

£



Cost or valuation


At 1 January 2023
22,571


Revaluations
(2,236)



At 31 December 2023
20,335



Page 5

 
MEDIA ADVISORY SERVICES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Debtors

2023
2022
£
£


Amounts owed by group undertakings
2,904,240
3,058,358

Other debtors
954
954

2,905,194
3,059,312



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
-
2,660

Other creditors
2,780,494
3,158,969

Accruals and deferred income
10,240
5,964

2,790,734
3,167,593



8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



259,981 (2022 - 259,981) Ordinary shares of £1 each
259,981
259,981



9.


Related party transactions

The Company forms part of a wholly-owned group and accordingly has taken advantage of the exemption allowed under section 33.1A of FRS 102 not to disclose transactions with other group companies.

 
Page 6