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REGISTERED NUMBER: 04962067 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

FOR

MEDIAVISION INTERACTIVE LTD

MEDIAVISION INTERACTIVE LTD (REGISTERED NUMBER: 04962067)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


MEDIAVISION INTERACTIVE LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTOR: L F D Venter





REGISTERED OFFICE: 4th Floor
111 Charterhouse Street
Farringdon
London
EC1M 6AW





REGISTERED NUMBER: 04962067 (England and Wales)





ACCOUNTANTS: Galloways Accounting (Hove) Limited
15 West Street
Brighton
East Sussex
BN1 2RL

MEDIAVISION INTERACTIVE LTD (REGISTERED NUMBER: 04962067)

BALANCE SHEET
31 AUGUST 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 3 521,260 420,753
Tangible assets 4 21,576 13,999
542,836 434,752

CURRENT ASSETS
Debtors 5 590,110 1,001,101
Cash at bank 252,067 423,155
842,177 1,424,256
CREDITORS
Amounts falling due within one year 6 (632,066 ) (625,259 )
NET CURRENT ASSETS 210,111 798,997
TOTAL ASSETS LESS CURRENT LIABILITIES 752,947 1,233,749

CREDITORS
Amounts falling due after more than one year 7 (40,379 ) (85,833 )

PROVISIONS FOR LIABILITIES (5,394 ) (3,500 )
NET ASSETS 707,174 1,144,416

CAPITAL AND RESERVES
Called up share capital 97 97
Retained earnings 707,077 1,144,319
707,174 1,144,416

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 May 2025 and were signed by:





L F D Venter - Director


MEDIAVISION INTERACTIVE LTD (REGISTERED NUMBER: 04962067)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024


1. 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,value added tax and other sales taxes.

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 ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 33% on cost
Fixtures and fittings - 25% on cost
Computer equipment - 33% on reducing balance

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 balance sheet date.

Deferred tax
Deferred taxation is provided in full on timing differences which represent a liability at the balance sheet date, at rates expected to apply when they crystallise based on current tax rates and law. Timing differences arise from the inclusion of items of income and expenditure in taxation computations in periods different from those in which they are included in financial statements. Deferred tax assets and liabilities are not discounted.

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.

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.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 31 (2023 - 31 ) .

3. INTANGIBLE FIXED ASSETS
Development
costs
£   
COST
At 1 September 2023 467,503
Additions 163,619
At 31 August 2024 631,122
AMORTISATION
At 1 September 2023 46,750
Amortisation for year 63,112
At 31 August 2024 109,862
NET BOOK VALUE
At 31 August 2024 521,260
At 31 August 2023 420,753

MEDIAVISION INTERACTIVE LTD (REGISTERED NUMBER: 04962067)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Computer
property fittings equipment Totals
£    £    £    £   
COST
At 1 September 2023 17,686 187 84,742 102,615
Additions - 2,563 11,400 13,963
Disposals - (187 ) - (187 )
At 31 August 2024 17,686 2,563 96,142 116,391
DEPRECIATION
At 1 September 2023 17,686 187 70,743 88,616
Charge for year - 20 6,366 6,386
Eliminated on disposal - (187 ) - (187 )
At 31 August 2024 17,686 20 77,109 94,815
NET BOOK VALUE
At 31 August 2024 - 2,543 19,033 21,576
At 31 August 2023 - - 13,999 13,999

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 522,013 637,163
Amounts owed by group undertakings - 320,100
Other debtors 20,000 18,430
Prepayments 48,097 25,408
590,110 1,001,101

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 45,454 45,454
Trade creditors 145,394 128,375
Tax 87,772 117,115
Social security and other taxes 74,536 46,488
VAT 98,100 154,436
Other creditors 172,292 97,773
Accruals and deferred income 150 -
Accrued expenses 8,368 35,618
632,066 625,259

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 40,379 45,454
Bank loans - 2-5 years - 40,379
40,379 85,833

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 155,500 155,500

MEDIAVISION INTERACTIVE LTD (REGISTERED NUMBER: 04962067)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


9. RELATED PARTY DISCLOSURES

Reef Property Development Limited

A company in which Mr Venter is a director and shareholder


During the period, intercompany loans of £127,250 were provided to the related party and a balance of £447,350 was written off between the two parties.

2024 2023
£    £   
Amount due from related party at the balance sheet date - 320,100
Amounts written off during the year 447,350 -

10. ULTIMATE CONTROLLING PARTY

The controlling party is MediaVision (MV) Group Limited.

This was by virtue the 100% holding of the issued share capital. Mr L Venter holds 79% of the issued shares within MediaVision (MV) Group Limited making him the ultimate controlling party.