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Registered number: 08570460
Media Capital Management Limited
Unaudited Financial Statements
For The Year Ended 31 January 2024
Maurice J Bushell & Co Ltd.
Chartered Certified Accountants
Units 4 & 5 Brightwell Barns
Waldringfield Road
Brightwell
Suffolk
IP10 0BJ
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 08570460
2024 2023
Notes £ £ £ £
FIXED ASSETS
CURRENT ASSETS
Debtors 5 12,739 24,748
Cash at bank and in hand 6 497
12,745 25,245
Creditors: Amounts Falling Due Within One Year 6 (1,582,045 ) (1,620,023 )
NET CURRENT ASSETS (LIABILITIES) (1,569,300 ) (1,594,778 )
TOTAL ASSETS LESS CURRENT LIABILITIES (1,569,300 ) (1,594,778 )
Creditors: Amounts Falling Due After More Than One Year 7 (5,365,912 ) (5,365,912 )
NET LIABILITIES (6,935,212 ) (6,960,690 )
CAPITAL AND RESERVES
Called up share capital 8 882 882
Share premium account 14,220 14,220
Profit and Loss Account (6,950,314 ) (6,975,792 )
SHAREHOLDERS' FUNDS (6,935,212) (6,960,690)
Page 1
Page 2
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Joel Cohen
Director
31 January 2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Media Capital Management Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08570460 . The registered office is Units 4 & 5 Brightwell Barns, Waldringfield Road, Brightwell, Suffolk, IP10 0BJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% on cost
Computer Equipment 20% on cost
2.4. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 February 2023 7,495 16,781 24,276
As at 31 January 2024 7,495 16,781 24,276
Depreciation
As at 1 February 2023 7,495 16,781 24,276
As at 31 January 2024 7,495 16,781 24,276
Net Book Value
As at 31 January 2024 - - -
As at 1 February 2023 - - -
5. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 12,739 24,748
12,739 24,748
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6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 58,359 100,647
Other creditors 43,175 43,175
Other loans 1,474,300 1,474,900
Accruals and deferred income 1,560 1,300
Director's loan account 4,651 1
1,582,045 1,620,023
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other loans - 2-5 years 3,600,000 3,600,000
Convertible loan interest 1,765,912 1,765,912
5,365,912 5,365,912
As at 31 January 2024, the company had drawn down £2,500,000 of the loan note from ESRG (2023: £2,500,000) issued in the 2014 financial year. The loan notes can be converted, at the election of the loan note holders subject to certain conversion events, into new ordinary shares of the Company.
As at 31 January 2024, the company had drawn down £1,100,000 of the loan note from Hasma Capital (2023: £1,100,000). The loan notes can be converted, at the election of the loan note holders subject to certain conversion events, into new ordinary shares of the Company
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 882 882
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