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Registered number: 04477515










COREMEDIA UK LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

 
COREMEDIA UK LIMITED
 

COMPANY INFORMATION


DIRECTOR
S. STAMER 




REGISTERED NUMBER
04477515



REGISTERED OFFICE
930 HIGH ROAD

LONDON

N12 9RT




ACCOUNTANTS
BAGINSKY COHEN
CHARTERED ACCOUNTANTS & STATUTORY AUDITORS

930 HIGH ROAD

LONDON

N12 9RT





 
COREMEDIA UK LIMITED
 

CONTENTS



Page
Balance sheet
 
 
1
Notes to the financial statements
 
 
2 - 7


 
COREMEDIA UK LIMITED
REGISTERED NUMBER: 04477515

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2024
2023
2023
Note
£
£
£
£

FIXED ASSETS
  

Tangible assets
 9 
6,256
3,012

  
6,256
3,012

CURRENT ASSETS
  

Debtors: amounts falling due within one year
 4 
584,095
536,624

Cash at bank and in hand
 5 
70,771
39,950

  
654,866
576,574

Creditors: amounts falling due within one year
 6 
(96,403)
(67,727)

  

NET ASSETS
  
564,719
511,859


CAPITAL AND RESERVES
  

Called up share capital 
  
1
1

Profit and loss account
  
564,718
511,858

  
564,719
511,859


The director considers 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 director acknowledges his 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.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 27 February 2025.




S. STAMER
Director

The notes on pages 2 to 7 form part of these financial statements.

Page 1

 
COREMEDIA UK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.ACCOUNTING POLICIES

 
1.1

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.

 
1.2

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.

 
1.3

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.

 
1.4

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.


 
1.5

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.

 
1.6

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 2

 
COREMEDIA UK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.ACCOUNTING POLICIES (CONTINUED)

 
1.7

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, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
1.8

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Office equipment
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.


2.



JUDGMENTS IN APPLYING ACCOUNTING POLICIES AND KEY SOURCES OF ESTIMATION UNCERTAINTY

In the application of the company’s accounting policies, which are described in note 1, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Page 3

 
COREMEDIA UK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 6 (2023 - 5).

Page 4

 
COREMEDIA UK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

4.


DEBTORS

2024
2023
£
£


Amounts owed by group undertakings
583,324
535,372

Other debtors
771
550

Prepayments and accrued income
-
702

584,095
536,624



5.


CASH AND CASH EQUIVALENTS

2024
2023
£
£

Cash at bank and in hand
70,771
39,950



6.


CREDITORS: Amounts falling due within one year

2024
2023
£
£

Accruals and deferred income
63,631
32,160

Corporation tax
12,787
13,503

Other taxation and social security
19,421
21,591

Trade creditors
564
473

96,403
67,727



7.


PENSION COMMITMENTS

The company operates a defined contribution scheme. The assets of the scheme are held serperately from those of the company in an independently authorised administered fund. The pension cost charged represents contributions payable by the company to the fund and amounted to £33,301 (2023 : £31,376).


8.


CONTROLLING PARTY

The ultimate controlling party is Bridge Ultimate Holdings SARL, a company based in Luxembourg.

Page 5

 
COREMEDIA UK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

9.


TANGIBLE FIXED ASSETS





Office equipment

£



Cost or valuation


At 1 January 2024
3,341


Additions
4,554



At 31 December 2024

7,895



Depreciation


At 1 January 2024
328


Charge for the year on owned assets
1,311



At 31 December 2024

1,639



Net book value



At 31 December 2024
6,256



At 31 December 2023
3,012

Page 6

 
COREMEDIA UK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

10.


RELATED PARTY TRANSACTIONS

The company provided marketing services in the period to the value of £940,952 (2023 : £992,181) to CoreMedia GmbH, the parent company. The balance owing by CoreMedia GmbH at the balance sheet date was £583,324 (2023 : £535,372)


11.


AUDITORS' INFORMATION

The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified.

The audit report was signed on 27 February 2025 by Jerry Michael (Senior statutory auditor) on behalf of BAGINSKY COHEN.


Page 7