Caseware UK (AP4) 2023.0.135 2023.0.135 2024-05-312024-05-31truefalsefalseNo description of principal activity12023-06-011falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 14483635 2023-06-01 2024-05-31 14483635 2022-11-14 2023-05-31 14483635 2024-05-31 14483635 2023-05-31 14483635 c:Director1 2023-06-01 2024-05-31 14483635 d:CurrentFinancialInstruments 2024-05-31 14483635 d:CurrentFinancialInstruments 2023-05-31 14483635 d:CurrentFinancialInstruments d:WithinOneYear 2024-05-31 14483635 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 14483635 d:ShareCapital 2024-05-31 14483635 d:ShareCapital 2023-05-31 14483635 d:RetainedEarningsAccumulatedLosses 2024-05-31 14483635 d:RetainedEarningsAccumulatedLosses 2023-05-31 14483635 c:OrdinaryShareClass1 2023-06-01 2024-05-31 14483635 c:OrdinaryShareClass1 2024-05-31 14483635 c:OrdinaryShareClass1 2023-05-31 14483635 c:FRS102 2023-06-01 2024-05-31 14483635 c:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 14483635 c:FullAccounts 2023-06-01 2024-05-31 14483635 c:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 14483635 2 2023-06-01 2024-05-31 14483635 6 2023-06-01 2024-05-31 14483635 e:PoundSterling 2023-06-01 2024-05-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 14483635









PENN MEDIA HOLDINGS LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MAY 2024

 
PENN MEDIA HOLDINGS LTD
REGISTERED NUMBER: 14483635

BALANCE SHEET
AS AT 31 MAY 2024

2024
2024
2023
2023
Note
£
£
£
£

Fixed assets
  

Investments
 4 
4,712,819
2,487,779

  
4,712,819
2,487,779

Current assets
  

Debtors: amounts falling due within one year
 5 
-
313,999

Cash at bank and in hand
 6 
30,776
15,773

  
30,776
329,772

Creditors: amounts falling due within one year
 7 
(1,230,458)
(1,298)

Net current (liabilities)/assets
  
 
 
(1,199,682)
 
 
328,474

Total assets less current liabilities
  
3,513,137
2,816,253

  

Net assets
  
3,513,137
2,816,253


Capital and reserves
  

Called up share capital 
 8 
200
100

Profit and loss account
  
3,512,937
2,816,153

  
3,513,137
2,816,253


Page 1

 
PENN MEDIA HOLDINGS LTD
REGISTERED NUMBER: 14483635
    
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2024

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 his 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 income and retained earnings 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 by: 




................................................
J Penn
Director

Date: 20 January 2025

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

Page 2

 
PENN MEDIA HOLDINGS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1.


General information

Penn Media Holdings Ltd is a private company limited by shares, incorporated in England and Wales and its registered address is Aston House, Cornwall Avenue, London, N3 1LF.

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 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.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

 
2.3

Interest income

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

 
2.4

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.

Page 3

 
PENN MEDIA HOLDINGS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.5

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

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

 
2.6

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.

 
2.7

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.

 
2.8

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.

 
2.9

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.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

Page 4

 
PENN MEDIA HOLDINGS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

4.


Fixed asset investments





Investments in subsidiary companies
Unlisted investments
Total

£
£
£



Cost or valuation


At 1 June 2023
100
2,487,679
2,487,779


Additions
-
3,897,595
3,897,595


Disposals
-
(2,329,710)
(2,329,710)


Revaluations
-
657,155
657,155



At 31 May 2024
100
4,712,719
4,712,819





5.


Debtors

2024
2023
£
£


Amounts owed by group undertakings
-
309,201

Other debtors
-
4,798

-
313,999



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
30,776
15,773


Page 5

 
PENN MEDIA HOLDINGS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Amounts owed to group undertakings
1,220,406
-

Corporation tax
7,951
-

Other creditors
1,695
-

Accruals and deferred income
406
1,298

1,230,458
1,298



8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



200 (2023 - 100) Ordinary shares of £1.00 each
200
100


During the period under review, 100 £1 Ordinary shares were issued at par.

 
Page 6