Company Registration No. 11050335 (England and Wales)
Cross Media Print and Digital Solutions Limited
Unaudited financial statements
for the year ended 31 December 2024
Pages for filing with the registrar
Cross Media Print and Digital Solutions Limited
Contents
Page
Statement of financial position
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 9
Cross Media Print and Digital Solutions Limited
Statement of financial position
As at 31 December 2024
1
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
126,000
140,000
Tangible assets
4
372,435
405,323
498,435
545,323
Current assets
Stocks
605
805
Debtors
5
351,724
214,853
Cash at bank and in hand
286,177
249,636
638,506
465,294
Creditors: amounts falling due within one year
6
(366,289)
(264,121)
Net current assets
272,217
201,173
Total assets less current liabilities
770,652
746,496
Provisions for liabilities
(28,498)
(33,492)
Net assets
742,154
713,004
Capital and reserves
Called up share capital
7
175,002
175,002
Capital redemption reserve
-
0
175,002
Profit and loss reserves
567,152
363,000
Total equity
742,154
713,004

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Cross Media Print and Digital Solutions Limited
Statement of financial position (continued)
As at 31 December 2024
2
The financial statements were approved by the board of directors and authorised for issue on 30 January 2025 and are signed on its behalf by:
Mark Jones
Director
Company Registration No. 11050335
Cross Media Print and Digital Solutions Limited
Statement of changes in equity
For the year ended 31 December 2024
3
Share capital
Capital redemption reserve
Profit and loss reserves
Total
£
£
£
£
Balance at 1 January 2023
350,004
-
0
980,220
1,330,224
Year ended 31 December 2023:
Profit and total comprehensive income
-
-
222,780
222,780
Dividends
-
-
(120,000)
(120,000)
Redemption of shares
-
0
175,002
-
0
175,002
Reduction of shares
(175,002)
-
(720,000)
(895,002)
Balance at 31 December 2023
175,002
175,002
363,000
713,004
Year ended 31 December 2024:
Profit and total comprehensive income
-
-
209,150
209,150
Dividends
-
-
(180,000)
(180,000)
Cancellation of Capital Redemption Reserve
-
(175,002)
175,002
-
Balance at 31 December 2024
175,002
-
0
567,152
742,154
Cross Media Print and Digital Solutions Limited
Notes to the financial statements
For the year ended 31 December 2024
4
1
Accounting policies
Company information

Cross Media Print and Digital Solutions Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 24 Mobbs Way, Oulton, Lowestoft, NR32 3FA.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention.

1.2
Going concern

The Directors manage the working capital of the company proactively and continue to monitor financial performance on a monthly basis. Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate cash and resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.4
Intangible fixed assets - goodwill

Goodwill arising on the acquisition of trade and assets. represents the excess of the fair value of the consideration over the fair value of the identifiable assets and liabilities acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.

 

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Cross Media Print and Digital Solutions Limited
Notes to the financial statements (continued)
For the year ended 31 December 2024
1
Accounting policies (continued)
5

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
20 years straight line
Plant and equipment
5 years straight line
Fixtures and fittings
5 years straight line
Computers
3 years straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.7
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to net realisable value.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.8
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Cross Media Print and Digital Solutions Limited
Notes to the financial statements (continued)
For the year ended 31 December 2024
1
Accounting policies (continued)
6
1.9
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.10
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.11
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Cross Media Print and Digital Solutions Limited
Notes to the financial statements (continued)
For the year ended 31 December 2024
1
Accounting policies (continued)
7
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Where items recognised in other comprehensive income or equity are chargeable to or deductible for tax purposes, the resulting current or deferred tax expense or income is presented in the same component of comprehensive income or equity as the transaction or other event that resulted in the tax expense or income. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.12
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.13
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
6
7
Cross Media Print and Digital Solutions Limited
Notes to the financial statements (continued)
For the year ended 31 December 2024
8
3
Intangible fixed assets
Goodwill
£
Cost
At 1 January 2024 and 31 December 2024
350,000
Amortisation and impairment
At 1 January 2024
210,000
Amortisation charged for the year
14,000
At 31 December 2024
224,000
Carrying amount
At 31 December 2024
126,000
At 31 December 2023
140,000
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 January 2024 and 31 December 2024
483,165
53,616
536,781
Depreciation and impairment
At 1 January 2024
93,750
37,708
131,458
Depreciation charged in the year
24,159
8,729
32,888
At 31 December 2024
117,909
46,437
164,346
Carrying amount
At 31 December 2024
365,256
7,179
372,435
At 31 December 2023
389,415
15,908
405,323
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
345,724
214,853
Other debtors
6,000
-
0
351,724
214,853
Cross Media Print and Digital Solutions Limited
Notes to the financial statements (continued)
For the year ended 31 December 2024
9
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
163,516
78,685
Corporation tax
82,381
90,747
Other taxation and social security
42,760
32,064
Other creditors
77,632
62,625
366,289
264,121
7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
A ordinary shares of £1 each
87,501
87,501
87,501
87,501
B ordinary shares of £1 each
87,501
87,501
87,501
87,501
175,002
175,002
175,002
175,002
2024-12-312024-01-01false30 January 2025CCH SoftwareCCH Accounts Production 2024.210No description of principal activityMr Kevin FullerM Jonesfalsefalse110503352024-01-012024-12-31110503352024-12-31110503352023-12-3111050335core:NetGoodwill2024-12-3111050335core:NetGoodwill2023-12-3111050335core:LandBuildings2024-12-3111050335core:OtherPropertyPlantEquipment2024-12-3111050335core:LandBuildings2023-12-3111050335core:OtherPropertyPlantEquipment2023-12-3111050335core:CurrentFinancialInstrumentscore:WithinOneYear2024-12-3111050335core:CurrentFinancialInstrumentscore:WithinOneYear2023-12-3111050335core:CurrentFinancialInstruments2024-12-3111050335core:CurrentFinancialInstruments2023-12-3111050335core:ShareCapital2024-12-3111050335core:ShareCapital2023-12-3111050335core:CapitalRedemptionReserve2024-12-3111050335core:CapitalRedemptionReserve2023-12-3111050335core:RetainedEarningsAccumulatedLosses2024-12-3111050335core:RetainedEarningsAccumulatedLosses2023-12-3111050335core:ShareCapital2022-12-3111050335core:CapitalRedemptionReserve2022-12-3111050335core:RetainedEarningsAccumulatedLosses2022-12-3111050335core:ShareCapitalOrdinaryShares2024-12-3111050335core:ShareCapitalOrdinaryShares2023-12-3111050335bus:Director22024-01-012024-12-3111050335core:RetainedEarningsAccumulatedLosses2023-01-012023-12-31110503352023-01-012023-12-3111050335core:RetainedEarningsAccumulatedLosses2024-01-012024-12-3111050335core:ShareCapital2023-01-012023-12-3111050335core:Goodwill2024-01-012024-12-3111050335core:LandBuildingscore:OwnedOrFreeholdAssets2024-01-012024-12-3111050335core:PlantMachinery2024-01-012024-12-3111050335core:FurnitureFittings2024-01-012024-12-3111050335core:ComputerEquipment2024-01-012024-12-3111050335core:NetGoodwill2023-12-3111050335core:NetGoodwill2024-01-012024-12-3111050335core:LandBuildings2023-12-3111050335core:OtherPropertyPlantEquipment2023-12-31110503352023-12-3111050335core:LandBuildings2024-01-012024-12-3111050335core:OtherPropertyPlantEquipment2024-01-012024-12-3111050335core:WithinOneYear2024-12-3111050335core:WithinOneYear2023-12-3111050335bus:PrivateLimitedCompanyLtd2024-01-012024-12-3111050335bus:SmallCompaniesRegimeForAccounts2024-01-012024-12-3111050335bus:FRS1022024-01-012024-12-3111050335bus:AuditExemptWithAccountantsReport2024-01-012024-12-3111050335bus:Director12024-01-012024-12-3111050335bus:FullAccounts2024-01-012024-12-31xbrli:purexbrli:sharesiso4217:GBP