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Registered Number: 12056779
England and Wales

 

 

 


Abridged Accounts

for the year ended 30 November 2024

for

MEDIA 16 LIMITED

In order to assist you to fulfil your duties under the Companies Act 2006 we have prepared for your approval the financial statements of Media 16 Limited for the year ended 30 November 2024 which comprise the statement of income and retained earnings, the balance sheet and related notes from the company's accounting records and from information and explanations that you have given us.

As a practicing member firm of the Association of Chartered Certified Accountants we are subject to its ethical and other professional requirements.

This report is made solely to the Director of Media 16 Limited, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Media 16 Limited and state those matters which we have agreed to state to the Director of Media 16 Limited. In this report we do not accept or assume responsibility to anyone other then Media 16 Limited and its Director for our work or for this report.

It is your duty to ensure that Media 16 Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Media 16 Limited. You consider that Media 16 Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Media 16 Limited. For this reason we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements



....................................................

Inspiro Advisory Limited

Manor Farm House
Ship Lane
Marsworth
HP23 4NA
19 January 2025
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Intangible fixed assets 3 243,000   
243,000   
Current assets      
Debtors 843,206    100 
Cash at bank and in hand 152,387   
995,593    100 
Creditors: amount falling due within one year (1,145,483)  
Net current assets (149,890)   100 
 
Total assets less current liabilities 93,110    100 
Net assets 93,110    100 
 

Capital and reserves
     
Called up share capital 4 100    100 
Profit and loss account 93,010   
Shareholders' funds 93,110    100 
 


For the year ended 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 19 January 2025 and were signed by:


-------------------------------
Dominic Matterson
Director
2
General Information
Media 16 Limited is a private company, limited by shares, registered in England and Wales, registration number 12056779, registration address 25 East St Helen Street, Abingdon, Oxfordshire, OX14 5EE.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of services supplied by the company, net of Value Added Tax and trade discounts.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of 10 years.
2.

Average number of employees

Average number of employees during the year was 3 (2023 : 3).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 December 2023  
Additions 270,000    270,000 
Disposals  
At 30 November 2024 270,000    270,000 
Amortisation
At 01 December 2023  
Charge for year 27,000    27,000 
On disposals  
At 30 November 2024 27,000    27,000 
Net book values
At 30 November 2024 243,000    243,000 
At 30 November 2023  


4.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
100 Ordinary shares of £1.00 each 100    100 
100    100 

3