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REGISTERED NUMBER: 06637089 (England and Wales)















Unaudited Financial Statements

for the Year Ended 30 June 2024

for

DARC MEDIA LIMITED

DARC MEDIA LIMITED (REGISTERED NUMBER: 06637089)

Contents of the Financial Statements
for the Year Ended 30 June 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


DARC MEDIA LIMITED

Company Information
for the Year Ended 30 June 2024







Directors: A J Giles
D S Walsh
P A James





Registered office: Waterloo Place
Watson Square
Stockport
Cheshire
SK1 3AZ





Registered number: 06637089 (England and Wales)





Accountants: Evelyn Partners (Manchester) Limited
Accountants
Northern Assurance Buildings
9-21 Princess Street
Manchester
M2 4DN

DARC MEDIA LIMITED (REGISTERED NUMBER: 06637089)

Statement of Financial Position
30 June 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Intangible assets 5 54,000 67,500

Current assets
Debtors 6 578,541 505,162
Cash at bank 1,123,593 1,125,350
1,702,134 1,630,512
Creditors
Amounts falling due within one year 7 1,327,993 1,049,952
Net current assets 374,141 580,560
Total assets less current liabilities 428,141 648,060

Capital and reserves
Called up share capital 8 300,000 300,000
Retained earnings 128,141 348,060
Shareholders' funds 428,141 648,060

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 February 2025 and were signed on its behalf by:





A J Giles - Director


DARC MEDIA LIMITED (REGISTERED NUMBER: 06637089)

Notes to the Financial Statements
for the Year Ended 30 June 2024


1. Statutory information

Darc Media Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. Accounting policies

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

Turnover
Advertising revenue is recognised upon publication of the magazine.

Subscription revenue is recognised in full upon invoice.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of twenty years.

Financial instruments
The company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments.

(i) Financial assets

Basic financial assets, including trade and other debtors and bank balances 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.

Such assets are subsequently carried at amortised cost using the effective interest method.

(ii) Financial liabilities

Basic financial liabilities, including trade and other creditors 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 receipts discounted at a market rate of interest.

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.


DARC MEDIA LIMITED (REGISTERED NUMBER: 06637089)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


3. Accounting policies - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

4. Employees and directors

The average number of employees during the year was 11 (2023 - 10 ) .

5. Intangible fixed assets
Goodwill
£   
Cost
At 1 July 2023
and 30 June 2024 270,000
Amortisation
At 1 July 2023 202,500
Charge for year 13,500
At 30 June 2024 216,000
Net book value
At 30 June 2024 54,000
At 30 June 2023 67,500

6. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 366,290 333,356
Other debtors 212,251 171,806
578,541 505,162

DARC MEDIA LIMITED (REGISTERED NUMBER: 06637089)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


7. Creditors: amounts falling due within one year
2024 2023
£    £   
Trade creditors 66,172 79,073
Amounts owed to group undertakings - 14,921
Taxation and social security 99,991 65,453
Other creditors 1,161,830 890,505
1,327,993 1,049,952

8. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
300,000 Ordinary £1 300,000 300,000

9. Ultimate parent undertaking and controlling party

The immediate and ultimate parent undertaking of the company is Mondiale Media Limited, incorporated in England and Wales. Their registered office is Waterloo Place, Watson Square, Stockport, SK1 3AZ.

Mondiale Media Limited is controlled by D S Walsh by virtue of his majority shareholdings in the ultimate parent company.