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REGISTERED NUMBER: 11747287 (England and Wales)



















Financial Statements

for the Year Ended 31st December 2024

for

VERSION TWO MEDIA LTD

VERSION TWO MEDIA LTD (REGISTERED NUMBER: 11747287)






Contents of the Financial Statements
for the year ended 31st December 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


VERSION TWO MEDIA LTD

Company Information
for the year ended 31st December 2024







DIRECTORS: D P Benton
J C S Lewcock
J M Williams
B J Quarry
J P Matthewman
A Seogalutze
S G S Sutton



REGISTERED OFFICE: 103 Farringdon Road
London
EC1R 3BS



REGISTERED NUMBER: 11747287 (England and Wales)



SENIOR STATUTORY AUDITOR: Alasdair Weaks



AUDITORS: TC Group
Statutory Auditor
Office: Croydon - TC SWP
3rd Floor, Suffolk House
George Street
Croydon
CR0 0YN

VERSION TWO MEDIA LTD (REGISTERED NUMBER: 11747287)

Statement of Financial Position
31st December 2024

31.12.24 31.12.23
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 7,509 -
Tangible assets 5 2,827 2,919
10,336 2,919

CURRENT ASSETS
Debtors 6 844,859 427,687
Cash at bank 675,890 998,836
1,520,749 1,426,523
CREDITORS
Amounts falling due within one year 7 797,705 896,412
NET CURRENT ASSETS 723,044 530,111
TOTAL ASSETS LESS CURRENT LIABILITIES 733,380 533,030

CAPITAL AND RESERVES
Called up share capital 9 10,000 10,000
Retained earnings 723,380 523,030
SHAREHOLDERS' FUNDS 733,380 533,030

The 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15th April 2025 and were signed on its behalf by:





J M Williams - Director


VERSION TWO MEDIA LTD (REGISTERED NUMBER: 11747287)

Notes to the Financial Statements
for the year ended 31st December 2024

1. STATUTORY INFORMATION

Version Two Media Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net invoiced sales of online advertising services.

Turnover from a contract to provide services is recognised in the period in which the services are provided when all of the following conditions are satisfied:

- the amount of turnover can be measure reliably
- it is probable that the company will receive the consideration due under the contract; and
- the stage of completion of the service at the end of the reporting period can be measured reliably.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of nil years.

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.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on the following basis:

Fixtures and fittings - 20% straight line
Computer equipment - 33% straight line

Gains and losses on disposals are determined by comparing the proceeds with the carrying amounts and are recognised in the Statement of Comprehensive Income.

VERSION TWO MEDIA LTD (REGISTERED NUMBER: 11747287)

Notes to the Financial Statements - continued
for the year ended 31st December 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the statement of comprehensive income.

For financial assets measured at cost less impairment, the impairment loss is measured at the difference between an asset's carrying amount and the best estimate of the recoverable amount, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the statement of financial position date.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account on a straight line basis.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

VERSION TWO MEDIA LTD (REGISTERED NUMBER: 11747287)

Notes to the Financial Statements - continued
for the year ended 31st December 2024

2. ACCOUNTING POLICIES - continued

Debtors
Short term debtors are measured at transaction price, less any impairment.

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 10 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
Additions 7,509
At 31st December 2024 7,509
NET BOOK VALUE
At 31st December 2024 7,509

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1st January 2024 1,483 8,091 9,574
Additions - 1,930 1,930
At 31st December 2024 1,483 10,021 11,504
DEPRECIATION
At 1st January 2024 1,093 5,562 6,655
Charge for year 199 1,823 2,022
At 31st December 2024 1,292 7,385 8,677
NET BOOK VALUE
At 31st December 2024 191 2,636 2,827
At 31st December 2023 390 2,529 2,919

VERSION TWO MEDIA LTD (REGISTERED NUMBER: 11747287)

Notes to the Financial Statements - continued
for the year ended 31st December 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 801,992 379,681
Other debtors 15,143 21,398
Prepayments and accrued income 27,724 26,608
844,859 427,687

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade creditors 507,496 468,296
Amounts owed to group undertakings 4,288 308,983
Tax 148,106 25,620
Social security and other taxes 23,062 21,584
VAT 43,433 3,501
Other creditors 46,151 36,008
Accruals and deferred income 25,169 32,420
797,705 896,412

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.24 31.12.23
£    £   
Within one year 27,472 50,364

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.24 31.12.23
value: £    £   
1,000,000 Ordinary 0.01 10,000 10,000

10. AUDITOR'S INFORMATION

The audit report provided to the members of Version Two Media Ltd on the financial statements for the year ended 31st December 2024 was not qualified.

The audit report was signed by Alasdair Weaks (Senior Statutory Auditor) for and on behalf of Simpson Wreford & Partners, Chartered Accountants and Statutory Auditor.

11. ULTIMATE CONTROLLING PARTY

The ultimate parent company is Supergroup Performance Ltd, a company registered in England and Wales.

Supergroup Performance Ltd prepares consolidated financial statements and copies can be obtained from the company's registered office at 103 Farringdon Road, London, EC1R 3BS.