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Registered Number: 12056779
England and Wales

 

 

 


Abridged Accounts

for the period ended 31 December 2024

for

MEDIA 16 LIMITED

 
 
Notes
 
2024
£
  2024
£
Fixed assets      
Intangible fixed assets 4   243,000 
  243,000 
Current assets      
Debtors 647,649    879,206 
Cash at bank and in hand 164,855    152,387 
812,504    1,031,593 
Creditors: amount falling due within one year (974,301)   (1,181,483)
Net current assets (161,797)   (149,890)
 
Total assets less current liabilities (161,797)   93,110 
Net assets (161,797)   93,110 
 

Capital and reserves
     
Called up share capital 5 100    100 
Profit and loss account (161,897)   93,010 
Shareholders' funds (161,797)   93,110 
 


For the period ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the profit and loss account has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 24 March 2025 and were signed by:


-------------------------------
Dominic Matterson
Director
1
General Information
Media 16 Limited is a private company, limited by shares, registered in England and Wales, registration number 12056779, registration address 25 East St Helen Street, Abingdon, Oxfordshire, OX14 5EE.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of services supplied by the company, net of Value Added Tax and trade discounts.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the profit and loss account.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of 10 years.
2.

Staff Costs

2024
£
  2024
£
Wages and salaries 13,792    159,420 
Social security costs 1,589    18,130 
Pension costs, defined contribution plan 307    2,071 
15,688    179,621 

3.

Average number of employees

Average number of employees during the period was 3 (2024 : 3).
4.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 December 2024  
Additions 270,000    270,000 
Disposals (270,000)   (270,000)
At 31 December 2024  
Amortisation
At 01 December 2024  
Charge for period 27,000    27,000 
On disposals (27,000)   (27,000)
At 31 December 2024  
Net book values
At 31 December 2024  
At 30 November 2024  


5.

Share Capital

Allotted, called up and fully paid
2024
£
  2024
£
100 Ordinary shares of £1.00 each 100    100 
100    100 

6.

Controlling Parties

The company's immediate parent undertaking is Media15 Ltd.


2