Caseware UK (AP4) 2023.0.135 2023.0.135 2024-06-302024-06-30No description of principal activitytruefalse2023-07-016879trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false SC285534 2023-07-01 2024-06-30 SC285534 2022-07-01 2023-06-30 SC285534 2024-06-30 SC285534 2023-06-30 SC285534 c:Director1 2023-07-01 2024-06-30 SC285534 c:Director2 2023-07-01 2024-06-30 SC285534 c:Director3 2023-07-01 2024-06-30 SC285534 c:Director4 2023-07-01 2024-06-30 SC285534 c:Director5 2023-07-01 2024-06-30 SC285534 c:Director6 2023-07-01 2024-06-30 SC285534 c:Director7 2023-07-01 2024-06-30 SC285534 c:Director8 2023-07-01 2024-06-30 SC285534 c:Director9 2023-07-01 2024-06-30 SC285534 c:RegisteredOffice 2023-07-01 2024-06-30 SC285534 d:FurnitureFittings 2023-07-01 2024-06-30 SC285534 d:FurnitureFittings 2024-06-30 SC285534 d:FurnitureFittings 2023-06-30 SC285534 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 SC285534 d:OfficeEquipment 2023-07-01 2024-06-30 SC285534 d:OfficeEquipment 2024-06-30 SC285534 d:OfficeEquipment 2023-06-30 SC285534 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 SC285534 d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 SC285534 d:Goodwill 2024-06-30 SC285534 d:Goodwill 2023-06-30 SC285534 d:CurrentFinancialInstruments 2024-06-30 SC285534 d:CurrentFinancialInstruments 2023-06-30 SC285534 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 SC285534 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 SC285534 d:ShareCapital 2024-06-30 SC285534 d:ShareCapital 2023-06-30 SC285534 d:RetainedEarningsAccumulatedLosses 2024-06-30 SC285534 d:RetainedEarningsAccumulatedLosses 2023-06-30 SC285534 c:OrdinaryShareClass1 2023-07-01 2024-06-30 SC285534 c:OrdinaryShareClass1 2024-06-30 SC285534 c:OrdinaryShareClass1 2023-06-30 SC285534 c:OrdinaryShareClass2 2023-07-01 2024-06-30 SC285534 c:OrdinaryShareClass2 2024-06-30 SC285534 c:OrdinaryShareClass2 2023-06-30 SC285534 c:OrdinaryShareClass3 2023-07-01 2024-06-30 SC285534 c:OrdinaryShareClass3 2024-06-30 SC285534 c:OrdinaryShareClass3 2023-06-30 SC285534 c:OrdinaryShareClass4 2023-07-01 2024-06-30 SC285534 c:OrdinaryShareClass4 2024-06-30 SC285534 c:OrdinaryShareClass4 2023-06-30 SC285534 c:OrdinaryShareClass5 2023-07-01 2024-06-30 SC285534 c:OrdinaryShareClass5 2024-06-30 SC285534 c:OrdinaryShareClass5 2023-06-30 SC285534 c:FRS102 2023-07-01 2024-06-30 SC285534 c:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 SC285534 c:FullAccounts 2023-07-01 2024-06-30 SC285534 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 SC285534 2 2023-07-01 2024-06-30 SC285534 6 2023-07-01 2024-06-30 SC285534 e:PoundSterling 2023-07-01 2024-06-30 xbrli:shares iso4217:GBP xbrli:pure
Registered number: SC285534










MTC MEDIA LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

 
MTC MEDIA LIMITED
 

COMPANY INFORMATION


Directors
Mr F S Blyth 
Mr A L J Brennan 
Mr M T Callachan 
Mr E D Johnstone 
Mr C McCreath 
Mr A J McDonald 
Ms N O'Hare 
Mr J D Phillip 
Mr A D Reid 




Registered number
SC285534



Registered office
Shed 26 Unit 35
City Quay

Camperdown Street

Dundee

DD1 3JA




Accountants
EQ Accountants Limited
Chartered Accountants

14 City Quay

Dundee

DD1 3JA





 
MTC MEDIA LIMITED
 

CONTENTS



Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 9


 
MTC MEDIA LIMITED
REGISTERED NUMBER: SC285534

STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2024

2024
2023
Note
£
£

FIXED ASSETS
  

Tangible fixed assets
  
89,487
83,546

Fixed asset investments
  
78,000
78,000

  
167,487
161,546

CURRENT ASSETS
  

Debtors: amounts falling due within one year
 7 
1,104,369
1,406,335

Bank and cash balances
  
2,232,230
2,237,568

  
3,336,599
3,643,903

Creditors: amounts falling due within one year
 8 
(1,064,865)
(1,101,410)

NET CURRENT ASSETS
  
 
 
2,271,734
 
 
2,542,493

TOTAL ASSETS LESS CURRENT LIABILITIES
  
2,439,221
2,704,039

PROVISIONS FOR LIABILITIES
  

Deferred tax
  
(22,372)
(15,874)

  
 
 
(22,372)
 
 
(15,874)

NET ASSETS
  
2,416,849
2,688,165


CAPITAL AND RESERVES
  

Called up share capital 
 9 
110
110

Profit and loss account
  
2,416,739
2,688,055

  
2,416,849
2,688,165


Page 1

 
MTC MEDIA LIMITED
REGISTERED NUMBER: SC285534

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 JUNE 2024

The directors consider 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 directors acknowledge their 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 profit and loss account 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 20 March 2025.




Mr E D Johnstone
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
MTC MEDIA LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


GENERAL INFORMATION

MTC Media Limited is a private company, limited by shares, incorporated in Scotland with registration number SC285534. The registered office is Shed 26 Unit 35, City Quay, Camperdown Street, Dundee, Angus, DD1 3JA.

2.ACCOUNTING POLICIES

 
2.1

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.

The following principal accounting policies have been applied:

 
2.2

FOREIGN CURRENCY TRANSLATION

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of income and retained earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
MTC MEDIA LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.3

TURNOVER

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover 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 turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Turnover 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 turnover 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.

 
2.4

INTEREST INCOME

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

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 Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
MTC MEDIA LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.6

CURRENT AND DEFERRED TAXATION

The tax expense for the year comprises current and deferred tax. 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 reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.7

INTANGIBLE ASSETS

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Page 5

 
MTC MEDIA LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.8

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:

Fixtures and fittings
-
20%
Office equipment
-
15%

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.

 
2.9

VALUATION OF INVESTMENTS

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.10

DIVIDENDS

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 68 (2023 - 79).

Page 6

 
MTC MEDIA LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

4.


INTANGIBLE ASSETS




Goodwill

£



COST


At 1 July 2023
35,000



At 30 June 2024

35,000



AMORTISATION


At 1 July 2023
35,000



At 30 June 2024

35,000



NET BOOK VALUE



At 30 June 2024
-



At 30 June 2023
-




5.


TANGIBLE FIXED ASSETS





Fixtures and fittings
Office equipment
Total

£
£
£



COST OR VALUATION


At 1 July 2023
100,439
178,142
278,581


Additions
1,699
20,564
22,263



At 30 June 2024

102,138
198,706
300,844



DEPRECIATION


At 1 July 2023
89,544
105,491
195,035


Charge for the year on owned assets
2,332
13,990
16,322



At 30 June 2024

91,876
119,481
211,357



NET BOOK VALUE



At 30 June 2024
10,262
79,225
89,487



At 30 June 2023
10,895
72,651
83,546

Page 7

 
MTC MEDIA LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

6.


FIXED ASSET INVESTMENTS





Investments in subsidiary companies

£



COST OR VALUATION


At 1 July 2023
78,000



At 30 June 2024
78,000





7.


DEBTORS

2024
2023
£
£


Trade debtors
530,450
704,018

Amounts owed by group undertakings
77,738
73,362

Other debtors
477,987
625,446

Prepayments and accrued income
18,194
3,509

1,104,369
1,406,335



8.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024
2023
£
£

Trade creditors
84,298
113,967

Other taxation and social security
290,358
297,704

Other creditors
646,056
677,564

Accruals and deferred income
44,153
12,175

1,064,865
1,101,410


Page 8

 
MTC MEDIA LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

9.


SHARE CAPITAL

2024
2023
£
£
ALLOTTED, CALLED UP AND FULLY PAID



47 (2023 - 47) Ordinary A shares of £1 each
47
47
36 (2023 - 36) Ordinary B shares of £1 each
36
36
17 (2023 - 17) Ordinary C shares of £1 each
17
17
2 (2023 - 2) Ordinary D shares of £1 each
2
2
2 (2023 - 2) Ordinary E shares of £1 each
2
2
2 (2023 - 2) Ordinary F shares of £1 each
2
2
1 (2023 - 1) Ordinary G share of £1
1
1
1 (2023 - 1) Ordinary H share of £1
1
1
2 (2023 - 2) Ordinary I shares of £1 each
2
2

110

110



10.


RELATED PARTY TRANSACTIONS

The following amounts were outstanding at the reporting end date:
Amounts due from associated companies


2024
2023
£
£

Other related parties
702,180
609,832
702,180
609,832


Page 9