McMedia UK Limited |
Notes to the Accounts |
for the year ended 31 December 2024 |
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1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland. The presentation currency is £ sterling. |
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Revenue Recognition |
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Revenue is recognised when services have been provided to customers such that risks and rewards of ownership have transferred to them. |
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Tangible fixed assets |
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Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
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Furniture & Equipment |
25% on a reducing balance basis |
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Motor Vehicles |
25% on a reducing balance basis |
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Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. |
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference. Current and deferred tax assets and liabilities are not discounted. |
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2 |
Employees |
2024 |
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2023 |
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Number |
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Number |
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Average number of persons employed by the company |
2 |
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2 |
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3 |
Tangible fixed assets |
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Plant and machinery etc |
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Motor vehicles |
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Total |
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£ |
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£ |
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£ |
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Cost |
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At 1 January 2024 |
12,262 |
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41,178 |
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53,440 |
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Additions |
569 |
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- |
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569 |
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At 31 December 2024 |
12,831 |
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41,178 |
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54,009 |
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Depreciation |
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At 1 January 2024 |
8,845 |
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18,016 |
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26,861 |
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Charge for the year |
997 |
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5,791 |
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6,788 |
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At 31 December 2024 |
9,842 |
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23,807 |
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33,649 |
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Net book value |
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At 31 December 2024 |
2,989 |
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17,371 |
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20,360 |
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At 31 December 2023 |
3,417 |
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23,162 |
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26,579 |
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4 |
Debtors |
2024 |
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2023 |
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£ |
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£ |
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Trade debtors |
20,179 |
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42,700 |
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Other debtors |
1,770 |
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1,300 |
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21,949 |
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44,000 |
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5 |
Creditors: amounts falling due within one year |
2024 |
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2023 |
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£ |
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£ |
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Corporation tax |
29,298 |
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20,973 |
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Other taxes and social security costs |
15,493 |
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16,264 |
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Other creditors |
1,684 |
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2,213 |
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46,475 |
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39,450 |
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6 |
Other information |
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McMedia UK Limited is a private company limited by shares and incorporated in England. Its registered office is: |
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50a Clifford Way |
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Maidstone |
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Kent |
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ME16 8GD |