Caseware UK (AP4) 2024.0.164 2024.0.164 2024-06-302024-06-30102023-07-01falseBroadcasting,consultancy, mobile and business development services9truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 04247285 2023-07-01 2024-06-30 04247285 2022-07-01 2023-06-30 04247285 2024-06-30 04247285 2023-06-30 04247285 c:Director2 2023-07-01 2024-06-30 04247285 d:PatentsTrademarksLicencesConcessionsSimilar 2024-06-30 04247285 d:PatentsTrademarksLicencesConcessionsSimilar 2023-06-30 04247285 d:CurrentFinancialInstruments 2024-06-30 04247285 d:CurrentFinancialInstruments 2023-06-30 04247285 d:Non-currentFinancialInstruments 2024-06-30 04247285 d:Non-currentFinancialInstruments 2023-06-30 04247285 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 04247285 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 04247285 d:Non-currentFinancialInstruments d:AfterOneYear 2024-06-30 04247285 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 04247285 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-06-30 04247285 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-06-30 04247285 d:ShareCapital 2024-06-30 04247285 d:ShareCapital 2023-06-30 04247285 d:RetainedEarningsAccumulatedLosses 2024-06-30 04247285 d:RetainedEarningsAccumulatedLosses 2023-06-30 04247285 c:FRS102 2023-07-01 2024-06-30 04247285 c:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 04247285 c:FullAccounts 2023-07-01 2024-06-30 04247285 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 04247285 d:WithinOneYear 2024-06-30 04247285 d:WithinOneYear 2023-06-30 04247285 d:BetweenOneFiveYears 2024-06-30 04247285 d:BetweenOneFiveYears 2023-06-30 04247285 d:PatentsTrademarksLicencesConcessionsSimilar d:ExternallyAcquiredIntangibleAssets 2023-07-01 2024-06-30 04247285 e:PoundSterling 2023-07-01 2024-06-30 iso4217:GBP xbrli:pure

Registered number: 04247285









VISIONAL MEDIA LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2024

 
VISIONAL MEDIA LIMITED
REGISTERED NUMBER: 04247285

BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 5 
209,000
-

  
209,000
-

Current assets
  

Debtors: amounts falling due after more than one year
 6 
203,513
370,782

Debtors: amounts falling due within one year
 6 
1,733,869
1,860,951

Cash at bank and in hand
  
9,478
12,395

  
1,946,860
2,244,128

Creditors: amounts falling due within one year
 7 
(1,017,416)
(925,361)

Net current assets
  
 
 
929,444
 
 
1,318,767

Total assets less current liabilities
  
1,138,444
1,318,767

Creditors: amounts falling due after more than one year
 8 
(15,833)
(25,833)

  

Net assets
  
1,122,611
1,292,934


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
1,122,511
1,292,834

  
1,122,611
1,292,934


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 statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

Page 1

 
VISIONAL MEDIA LIMITED
REGISTERED NUMBER: 04247285
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 30 August 2024.




Derek Byrne
Director

The notes on pages 3 to 9 form part of these financial statements.
Page 2

 
VISIONAL MEDIA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

Visional Media Limited is a private company limited by share capital, incorporated in England and Wales, registration number 04247285. The address of the registered office is 30 Orange Street, London, WC2H 7HF.

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

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 for services provided in the accounting period.

 
2.3

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.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.5

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.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

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. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 3

 
VISIONAL MEDIA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.8

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.
Financial assets that are 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 Statement of comprehensive income including profit and loss account.
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.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

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.

 
2.11

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
VISIONAL MEDIA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.12

Taxation

Tax is recognised in profit or loss 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.

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 9 (2023 - 10).


4.


Taxation


2024
2023
£
£



Total current tax
-
-

Factors affecting tax charge for the year

No UK corporation tax arises as a result of the tax adjusted loss for the year.


Factors that may affect future tax charges

There were no factors that may affect future tax charges.

Page 5

 
VISIONAL MEDIA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

5.


Intangible assets




Patents

£



Cost


Additions
209,000



At 30 June 2024

209,000






Net book value



At 30 June 2024
209,000



At 30 June 2023
-




6.


Debtors

2024
2023
£
£

Due after more than one year

Amounts owed by group undertakings
203,513
370,782

203,513
370,782


2024
2023
£
£

Due within one year

Trade debtors
163,933
207,794

Amounts owed by group undertakings
1,363,820
1,514,326

Other debtors
44,615
45,306

Prepayments and accrued income
161,501
93,525

1,733,869
1,860,951


Page 6

 
VISIONAL MEDIA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loan
10,000
10,000

Trade creditors
406,519
302,989

Amounts owed to group undertakings
488,551
508,504

Other taxation and social security
65,868
72,836

Other creditors
14,238
14,792

Accruals and deferred income
32,240
16,240

1,017,416
925,361


A coronavirus bounce back loan of £50,000 was taken out during the previous year which was interest free for the first 12 months followed by interest at the rate of 2.5% per annum from 5th January 2022. The amount repayable after 12 months is shown within creditors falling due after more than one year.


8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loan
15,833
25,833

15,833
25,833


Page 7

 
VISIONAL MEDIA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loan
10,000
10,000


10,000
10,000


Amounts falling due 2-5 years

Bank loan
15,833
25,833


15,833
25,833


25,833
35,833



10.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £4,651 (2023 - £5,124). 

Page 8

 
VISIONAL MEDIA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024


11.


Commitments under operating leases

At 30 June 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
87,240
87,240

Later than 1 year and not later than 5 years
83,605
170,845

170,845
258,085

 
Page 9