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Registered number: 13878572









REACTIVE DIGITAL MEDIA LTD







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

 
REACTIVE DIGITAL MEDIA LTD
REGISTERED NUMBER: 13878572

BALANCE SHEET
AS AT 31 JANUARY 2024

2024
As restated
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
99,203
111,107

Current assets
  

Debtors: amounts falling due within one year
 5 
10,788
6,810

Cash at bank and in hand
 6 
1,399
4,100

  
12,187
10,910

Creditors: amounts falling due within one year
 7 
(251,742)
(162,945)

Net current liabilities
  
 
 
(239,555)
 
 
(152,035)

Total assets less current liabilities
  
(140,352)
(40,928)

  

Net liabilities
  
(140,352)
(40,928)


Capital and reserves
  

Called up share capital 
  
99
99

Profit and loss account
  
(140,451)
(41,027)

  
(140,352)
(40,928)


Page 1

 
REACTIVE DIGITAL MEDIA LTD
REGISTERED NUMBER: 13878572
    
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 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 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 31 January 2025.




Mr D Sharpe
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
REACTIVE DIGITAL MEDIA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.


General information

Reactive Digital Media Ltd ("the Company") is a private company limited by shares, incorporated in England and Wales. Its registered office is Leytonstone House, 3 Hanbury Drive, Leytonstone, London, England, E11 1GA.

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

Going concern

The financial statements have been prepared on a going concern basis. The Company is supported by companies under common control and its directors. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the annual financial statements.

 
2.3

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.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
REACTIVE DIGITAL MEDIA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of comprehensive income over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment.

Page 4

 
REACTIVE DIGITAL MEDIA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.8

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.

 
2.9

Creditors

Short-term creditors are measured at the transaction price.

 
2.10

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Employees

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

Page 5

 
REACTIVE DIGITAL MEDIA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

4.


Intangible assets




Goodwill

£



Cost


At 1 February 2023 (as previously stated)
-


Prior Year Adjustment
119,043


At 1 February 2023 (as restated)
119,043



At 31 January 2024

119,043



Amortisation


At 1 February 2023 (as previously stated)
-


Prior Year Adjustment
7,936


At 1 February 2023 (as restated)
7,936


Charge for the year on owned assets
11,904



At 31 January 2024

19,840



Net book value



At 31 January 2024
99,203



At 31 January 2023 (as restated)
111,107




5.


Debtors

2024
2023
£
£


Other debtors
10,788
6,810



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
1,399
4,100


Page 6

 
REACTIVE DIGITAL MEDIA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

7.


Creditors: Amounts falling due within one year

2024
As restated
2023
£
£

Trade creditors
-
4,531

Other creditors
246,742
158,414

Accruals and deferred income
5,000
-

251,742
162,945



8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



33 (2023 - 33) Ordinary A shares of £1.00 each
33
33
33 (2023 - 33) Ordinary B shares of £1.00 each
33
33
33 (2023 - 33) Ordinary C shares of £1.00 each
33
33

99

99

All shares rank pari passu.



9.


Prior year adjustment

A prior year adjustment was identified, whereby a purchase of goodwill and equivalent creditor balance were not accounted for in the year ended 31 January 2023. An adjustment has therefore been made to recognise the asset and liability, to recognise the amortisation charge for the period and to revalue the liability, which is denominated in a currency other than the Company's functional currency.
The overall impact of this prior year adjustment is a decrease in reserves at 1 February 2023 of £10,666.


10.


Related party transactions

At the year end, the Company owed £31,808 (2023 - £21,808) to a connected company, shown within other creditors.

 
Page 7