Company registration number 10779386 (England and Wales)
CEO MEDIA GROUP LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
PAGES FOR FILING WITH REGISTRAR
CEO MEDIA GROUP LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
CEO MEDIA GROUP LTD
BALANCE SHEET
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
77,447
83,235
Current assets
Debtors
4
1,790,669
1,250,485
Cash at bank and in hand
98,434
72,865
1,889,103
1,323,350
Creditors: amounts falling due within one year
5
(599,377)
(276,247)
Net current assets
1,289,726
1,047,103
Total assets less current liabilities
1,367,173
1,130,338
Provisions for liabilities
(19,362)
(15,815)
Net assets
1,347,811
1,114,523
Capital and reserves
Called up share capital
102
102
Profit and loss reserves
1,347,709
1,114,421
Total equity
1,347,811
1,114,523
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 15 April 2025
Mr T Gretsinger
Director
Company registration number 10779386 (England and Wales)
CEO MEDIA GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
- 2 -
1
Accounting policies
Company information
CEO Media Group Ltd is a private company limited by shares incorporated in England and Wales. The registered office is The Union Building, 51-59 Rose Lane, Norwich, Norfolk, England, NR1 1BY.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
- 25% reducing balance
Computers
- 33.33% straight line
1.4
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
CEO MEDIA GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 3 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
20
15
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 June 2023
149,572
Additions
21,424
At 31 May 2024
170,996
Depreciation and impairment
At 1 June 2023
66,338
Depreciation charged in the year
27,211
At 31 May 2024
93,549
Carrying amount
At 31 May 2024
77,447
At 31 May 2023
83,235
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
54,584
Amounts owed by group undertakings
1,135,819
Other debtors
600,266
1,250,485
1,790,669
1,250,485
CEO MEDIA GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 4 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
381,669
109,864
Trade creditors
46,050
12,061
Corporation tax
163,114
125,808
Other taxation and social security
20,756
Other creditors
8,544
7,758
599,377
276,247