Caseware UK (AP4) 2023.0.135 2023.0.135 2024-06-302024-06-30true3truefalse32023-07-01No description of principal activityfalseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 05483806 2023-07-01 2024-06-30 05483806 2022-07-01 2023-06-30 05483806 2024-06-30 05483806 2023-06-30 05483806 c:Director1 2023-07-01 2024-06-30 05483806 d:CurrentFinancialInstruments 2024-06-30 05483806 d:CurrentFinancialInstruments 2023-06-30 05483806 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 05483806 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 05483806 d:ShareCapital 2024-06-30 05483806 d:ShareCapital 2023-06-30 05483806 d:SharePremium 2024-06-30 05483806 d:SharePremium 2023-06-30 05483806 d:RetainedEarningsAccumulatedLosses 2024-06-30 05483806 d:RetainedEarningsAccumulatedLosses 2023-06-30 05483806 c:OrdinaryShareClass1 2023-07-01 2024-06-30 05483806 c:OrdinaryShareClass1 2024-06-30 05483806 c:OrdinaryShareClass1 2023-06-30 05483806 c:FRS102 2023-07-01 2024-06-30 05483806 c:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 05483806 c:FullAccounts 2023-07-01 2024-06-30 05483806 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 05483806 d:Subsidiary1 2023-07-01 2024-06-30 05483806 d:Subsidiary1 1 2023-07-01 2024-06-30 05483806 6 2023-07-01 2024-06-30 05483806 e:PoundSterling 2023-07-01 2024-06-30 xbrli:shares iso4217:GBP xbrli:pure


Registered number: 05483806












CATALYST MEDIA HOLDINGS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

 

CATALYST MEDIA HOLDINGS LIMITED

CONTENTS



Page
Balance sheet
 
1
Notes to the financial statements
 
2 - 6



 
REGISTERED NUMBER:05483806
CATALYST MEDIA HOLDINGS LIMITED

BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Investments
 4 
23,115,000
23,115,000

  
23,115,000
23,115,000

  

Creditors: amounts falling due within one year
 5 
(505,108)
(505,108)

Net current liabilities
  
 
 
(505,108)
 
 
(505,108)

Total assets less current liabilities
  
22,609,892
22,609,892

  

Net assets
  
22,609,892
22,609,892


Capital and reserves
  

Called up share capital 
 6 
100
100

Share premium account
  
11,249,900
11,249,900

Profit and loss account
  
11,359,892
11,359,892

Total equity
  
22,609,892
22,609,892


The directors consider 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 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 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 profit and loss account 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: 




Mr M S Rosenberg OBE
Director

Date: 15 January 2025

The notes on pages 2 to 6 form part of these financial statements.

Page 1

 

CATALYST MEDIA HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

Catalyst Media Holdings Limited is a company limited by shares incorporated in England and Wales. The address of its registered office is Quadrant House, Floor 6, 4 Thomas More Square, London, E1W 1YW.
The financial statements are presented in Sterling (£), which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

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

Exemption from preparing consolidated financial statements

The company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.

 
2.3

Going concern

The directors can report that based on the company’s budgets and financial projections and those of the group to which Catalyst Media Holdings Limited belongs, they have satisfied themselves that the business is a going concern. In assessing the company and the group as a going concern, the directors are also mindful of the business of SIS, that provides the entire value of the group, the directors are satisfied that SIS is a going concern. The board has a reasonable expectation that the company and group have adequate resources and facilities to continue in operational existence for the foreseeable future and therefore the accounts are prepared on a going concern basis.

 
2.4

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

  
2.5

Impairment of fixed assets and goodwill

Assets that are subject to depreciation or amortisation are assessed at each balance sheet date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying value exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less cost to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (CGUs). Non financial assets that have been previously impaired are reviewed at each balance sheet date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.

  
2.6

Share capital

Ordinary shares are classified as equity. 

Page 2

 

CATALYST MEDIA HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.7

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.

 
2.8

Taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, 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.
Current tax is the amount of income tax payable in respect of taxable profit for the year or prior years.
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.

Deferred tax arises from timing differences that are differences between taxable profits and total comprehensive income as stated in the financial statements. These timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
 
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


2.9

Financial instruments

The company has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments.

Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the instrument. 

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. 
 
The company’s policies for its major classes of financial assets and financial liabilities are set out below. 

Page 3

 

CATALYST MEDIA HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)





Financial instruments (continued)

Financial assets
Basic financial assets, including trade and other debtors, cash and bank balances, intercompany working capital balances, and intercompany financing are initially recognised at transaction price, 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 for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Financial liabilities

Basic financial liabilities, including trade and other 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 for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

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

Impairment of financial assets
Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account. 

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount the company would receive for the asset if it were to be sold at the reporting date. 

For financial assets measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Page 4

 

CATALYST MEDIA HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)





Financial instruments (continued)

Derecognition of financial assets and financial liabilities
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions. 
 
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Offsetting of financial assets and financial liabilities
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an 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.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2023 - 3).


4.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 July 2023
23,115,000



At 30 June 2024
23,115,000






Net book value



At 30 June 2024
23,115,000



At 30 June 2023
23,115,000

Page 5

 

CATALYST MEDIA HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

Subsidiary undertaking


The following was a subsidiary undertaking of the company:

Name

Registered office

Principal activity

Class of shares

Holding

Alternateport Limited
Quadrant House, Floor 6, 4 Thomas More Square, London, E1W 1YW
The holding of investments.
Ordinary
100%


5.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
5
5

Amounts owed to group undertakings
505,103
505,103

505,108
505,108



6.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100,000 (2023 - 100,000) Ordinary shares of £0.001 each
100
100



7.


Controlling party

The parent entity of the smallest group for which consolidated financial statements are prepared is Catalyst Media Group plc. These consolidated financial statements are available from its registered office, Quadrant House, 4 Thomas More Square, London, E1W 1YW. 
There was no ultimate controlling party in the current or prior year.

 
Page 6