Acorah Software Products - Accounts Production 16.1.300 false true true 30 June 2023 1 July 2022 false 21 March 2025 1 July 2023 30 June 2024 30 June 2024 02937088 Mr J A Thompson Mr M S Davies Mr S J Smith Mrs Z A Smith Stuart and Zoe Smith true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 02937088 2023-06-30 02937088 2024-06-30 02937088 2023-07-01 2024-06-30 02937088 frs-core:CurrentFinancialInstruments 2024-06-30 02937088 frs-core:Non-currentFinancialInstruments 2024-06-30 02937088 frs-core:ComputerEquipment 2024-06-30 02937088 frs-core:ComputerEquipment 2023-07-01 2024-06-30 02937088 frs-core:ComputerEquipment 2023-06-30 02937088 frs-core:FurnitureFittings 2024-06-30 02937088 frs-core:FurnitureFittings 2023-07-01 2024-06-30 02937088 frs-core:FurnitureFittings 2023-06-30 02937088 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-06-30 02937088 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-07-01 2024-06-30 02937088 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-06-30 02937088 frs-core:PlantMachinery 2024-06-30 02937088 frs-core:PlantMachinery 2023-07-01 2024-06-30 02937088 frs-core:PlantMachinery 2023-06-30 02937088 frs-core:CapitalRedemptionReserve 2024-06-30 02937088 frs-core:ShareCapital 2024-06-30 02937088 frs-core:RetainedEarningsAccumulatedLosses 2024-06-30 02937088 frs-bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 02937088 frs-bus:FilletedAccounts 2023-07-01 2024-06-30 02937088 frs-bus:SmallEntities 2023-07-01 2024-06-30 02937088 frs-bus:Audited 2023-07-01 2024-06-30 02937088 frs-bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 02937088 1 2023-07-01 2024-06-30 02937088 frs-core:UnlistedNon-exchangeTraded 2024-06-30 02937088 frs-core:UnlistedNon-exchangeTraded 2023-06-30 02937088 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2023-06-30 02937088 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2024-06-30 02937088 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2023-06-30 02937088 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2024-06-30 02937088 frs-bus:Director1 2023-07-01 2024-06-30 02937088 frs-bus:Director2 2023-07-01 2024-06-30 02937088 frs-bus:Director3 2023-07-01 2024-06-30 02937088 frs-bus:Director4 2023-07-01 2024-06-30 02937088 frs-countries:EnglandWales 2023-07-01 2024-06-30 02937088 2022-06-30 02937088 2023-06-30 02937088 2022-07-01 2023-06-30 02937088 frs-core:CurrentFinancialInstruments 2023-06-30 02937088 frs-core:Non-currentFinancialInstruments 2023-06-30 02937088 frs-core:CapitalRedemptionReserve 2023-06-30 02937088 frs-core:ShareCapital 2023-06-30 02937088 frs-core:RetainedEarningsAccumulatedLosses 2023-06-30
Registered number: 02937088
Mostly Media Limited
Financial Statements
For The Year Ended 30 June 2024
Hixsons
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 02937088
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 170,601 187,985
Investments 5 150 150
170,751 188,135
CURRENT ASSETS
Debtors 6 1,644,061 1,873,975
Cash at bank and in hand 1,818,765 1,119,346
3,462,826 2,993,321
Creditors: Amounts Falling Due Within One Year 7 (1,842,677 ) (1,564,098 )
NET CURRENT ASSETS (LIABILITIES) 1,620,149 1,429,223
TOTAL ASSETS LESS CURRENT LIABILITIES 1,790,900 1,617,358
Creditors: Amounts Falling Due After More Than One Year 8 - (156,250 )
NET ASSETS 1,790,900 1,461,108
CAPITAL AND RESERVES
Called up share capital 10 4,900 4,900
Capital redemption reserve 9,100 9,100
Profit and Loss Account 1,776,900 1,447,108
SHAREHOLDERS' FUNDS 1,790,900 1,461,108
Page 1
Page 2
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr S J Smith
Director
21 March 2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Mostly Media Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02937088 . The registered office is 11 Kelso Place, Upper Bristol Road, Bath, Somerset, BA1 3AU.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover is reduced for estimated rebates and other similar allowances.
Rendering of services
The company recognises service revenue when the services are provided and the company has fulfilled its performance obligations. This may involve milestones, completion criteria, or other specific conditions that trigger revenue recognition. If customers make advance payments for services yet to be performed, the company recognises deferred revenue until the services are provided. Revenue is then recognised as services are delivered.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 10% on straight line basis
Plant & Machinery 25% on reducing balance
Fixtures & Fittings 25% on reducing balance
Computer Equipment 25% on reducing balance
2.5. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
Page 3
Page 4
3. Average Number of Employees
Average number of employees, including directors, during the year was: 19 (2023: 15)
19 15
4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 July 2023 168,621 6,531 43,304 27,903 246,359
Additions - - 7,030 4,588 11,618
As at 30 June 2024 168,621 6,531 50,334 32,491 257,977
Depreciation
As at 1 July 2023 16,865 5,972 19,607 15,930 58,374
Provided during the period 17,385 559 6,915 4,143 29,002
As at 30 June 2024 34,250 6,531 26,522 20,073 87,376
Net Book Value
As at 30 June 2024 134,371 - 23,812 12,418 170,601
As at 1 July 2023 151,756 559 23,697 11,973 187,985
5. Investments
Unlisted
£
Cost
As at 1 July 2023 150
As at 30 June 2024 150
Provision
As at 1 July 2023 -
As at 30 June 2024 -
Net Book Value
As at 30 June 2024 150
As at 1 July 2023 150
The company's investments at the Balance Sheet date in the share capital of companies include the following:
MOSTLY MEDIA (NORTH) LIMITED
Registered office: Scotland
Nature of business: Advertising agency
Class of shares: 
Ordinary A (full voting rights) - 50% holding
Ordinary C (no voting rights) - 100% holding
2024
Aggregate capital and reserves £62,407
Loss for the year£34,708. 
2023
Aggregate capital and reserves £97,115. 
...CONTINUED
Page 4
Page 5
5. Investments - continued
Loss for the year £490.
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 1,194,672 1,302,035
Prepayments and accrued income 35,677 59,370
Other debtors 3,400 44,027
Amounts owed by subsidiaries 59,243 102,557
Amounts owed by associates 351,069 365,986
1,644,061 1,873,975
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 1,022,334 960,487
Bank loans and overdrafts 156,250 125,000
Corporation tax 185,618 127,866
Other taxes and social security 24,955 8,125
VAT 98,176 91,668
Other creditors 10,629 17,063
Accruals and deferred income 314,978 182,648
Directors' loan accounts 29,737 51,241
1,842,677 1,564,098
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans - 156,250
9. Secured Creditors
Of the creditors falling due within and after more than one year the following amounts are secured by fixed charges dated 11 September 2020 and 28 April 2021.
2024 2023
£ £
Bank loans and overdrafts 156,250 281,250
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 4,900 4,900
Page 5
Page 6
11. Dividends
2024 2023
£ £
On equity shares:
Interim dividend paid 175,000 240,000
12. Related Party Transactions
During the year, Mostly Media North Ltd, a subsidiary company, ceased trading and the balance owed to the company was £23,432. Also, during the year the company paid £120,000 in rent to 445 Holdings Ltd, an associated company. At the end of the year, the company was owed £351,069 by 445 Holdings Ltd. All transactions were carried out at the market rate.
13. FRC's Ethical Standard - Provision Available for Small Entities
In common with other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.
14. Ultimate Controlling Party
The company's ultimate controlling party is Stuart and Zoe Smith by virtue of their ownership of 100% of the issued share capital in the company.
15. Audit Information
The auditor's report on the accounts of Mostly Media Limited for the year ended 30 June 2024 was unqualified.
The auditor's report was signed by N V Hixson (Senior Statutory Auditor) for and on behalf of Hixsons , Statutory Auditor.
Page 6