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No description of principal activity
2022-04-01
Sage Accounts Production Advanced 2023 - FRS102_2023
xbrli:pure
xbrli:shares
iso4217:GBP
03902234
2022-04-01
2023-03-31
03902234
2023-03-31
03902234
2022-03-31
03902234
2021-04-01
2022-03-31
03902234
2022-03-31
03902234
2021-03-31
03902234
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2022-04-01
2023-03-31
03902234
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2022-04-01
2023-03-31
03902234
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2023-03-31
03902234
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2023-03-31
03902234
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2022-03-31
03902234
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2023-03-31
03902234
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2023-03-31
03902234
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2022-03-31
03902234
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2023-03-31
03902234
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2022-03-31
03902234
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2023-03-31
03902234
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2023-03-31
03902234
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2023-03-31
03902234
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2022-04-01
2023-03-31
03902234
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2022-04-01
2023-03-31
03902234
core:OfficeEquipment
2022-04-01
2023-03-31
COMPANY REGISTRATION NUMBER:
03902234
MULTIMILLION MEDIA RESEARCH (3MR) LIMITED |
|
FILLETED UNAUDITED FINANCIAL STATEMENTS |
|
MULTIMILLION MEDIA RESEARCH (3MR) LIMITED |
|
STATEMENT OF FINANCIAL POSITION |
|
31 March 2023
Fixed assets
Intangible assets |
5 |
88,183 |
– |
|
|
|
|
Current assets
Stocks |
53,857 |
64,308 |
Debtors |
7 |
116,913 |
142,265 |
Cash at bank and in hand |
3,591 |
26,648 |
|
---------- |
---------- |
|
174,361 |
233,221 |
|
|
|
|
Creditors: amounts falling due within one year |
8 |
121,933 |
106,842 |
|
---------- |
---------- |
Net current assets |
52,428 |
126,379 |
|
---------- |
---------- |
Total assets less current liabilities |
140,611 |
126,379 |
|
|
|
|
Creditors: amounts falling due after more than one year |
9 |
67,946 |
– |
|
---------- |
---------- |
Net assets |
72,665 |
126,379 |
|
---------- |
---------- |
|
|
|
|
MULTIMILLION MEDIA RESEARCH (3MR) LIMITED |
|
STATEMENT OF FINANCIAL POSITION (continued) |
|
31 March 2023
Capital and reserves
Called up share capital |
1,000 |
1,000 |
Profit and loss account |
71,665 |
125,379 |
|
--------- |
---------- |
Shareholders funds |
72,665 |
126,379 |
|
--------- |
---------- |
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
These financial statements were approved by the
board of directors
and authorised for issue on
20 February 2025
, and are signed on behalf of the board by:
Company registration number:
03902234
MULTIMILLION MEDIA RESEARCH (3MR) LIMITED |
|
NOTES TO THE FINANCIAL STATEMENTS |
|
YEAR ENDED 31 MARCH 2023
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 60 St.Martin's Lane, London, England, WC2N 4JS.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
In accordance with the director's responsibilities, the director has considered the appropriateness of the going concern basis for the preparation of the financial statements. For this purpose, the director has considered the adequacy of the company's cash resources covering the period 12 months ahead of the approval of these financial statements. The director has reasonable expectations that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason, the director continues to adopt the going concern basis in preparing these financial statements.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Motor vehicles |
- |
25% straight line |
|
Equipment |
- |
50% straight line |
|
|
|
|
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
3
(2022:
2
).
5.
Intangible assets
|
Intangible asset |
|
£ |
Cost |
|
Additions |
– |
Additions from internal developments |
|
|
--------- |
At 31 March 2023 |
|
|
--------- |
Amortisation |
|
At 1 April 2022 and 31 March 2023 |
– |
|
--------- |
Carrying amount |
|
At 31 March 2023 |
|
|
--------- |
At 31 March 2022 |
– |
|
--------- |
|
|
The intangible asset represents the cost of developing a Data Centre and will be amortised over 3 years on a straight line basis, once income has started to be generated.
6.
Tangible assets
|
Motor vehicles |
Equipment |
Total |
|
£ |
£ |
£ |
Cost |
|
|
|
At 1 April 2022 and 31 March 2023 |
3,150 |
|
21,767 |
|
------- |
--------- |
--------- |
Depreciation |
|
|
|
At 1 April 2022 and 31 March 2023 |
3,150 |
|
21,767 |
|
------- |
--------- |
--------- |
Carrying amount |
|
|
|
At 31 March 2023 |
– |
– |
– |
|
------- |
--------- |
--------- |
At 31 March 2022 |
– |
– |
– |
|
------- |
--------- |
--------- |
|
|
|
|
7.
Debtors
|
2023 |
2022 |
|
£ |
£ |
Trade debtors |
111,642 |
142,265 |
Other debtors |
5,271 |
– |
|
---------- |
---------- |
|
116,913 |
142,265 |
|
---------- |
---------- |
|
|
|
8.
Creditors:
amounts falling due within one year
|
2023 |
2022 |
|
£ |
£ |
Bank loans and overdrafts |
19,506 |
25,745 |
Trade creditors |
14,276 |
2,991 |
Corporation tax |
– |
29,800 |
Social security and other taxes |
46,931 |
24,369 |
Other creditors |
41,220 |
23,937 |
|
---------- |
---------- |
|
121,933 |
106,842 |
|
---------- |
---------- |
|
|
|
9.
Creditors:
amounts falling due after more than one year
|
2023 |
2022 |
|
£ |
£ |
Bank loans and overdrafts |
67,946 |
– |
|
--------- |
---- |
|
|
|
10.
Related party transactions
During the year, the company paid a dividend of £5,000 (2022: £15,000) to its shareholders. Director's remuneration amounted to £60,000 (2022: £42,500) for the year. Creditors include a director's loan account of £31,690 (2022: £7,148). The loan is interest free, unsecured and repayable on demand.