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Registration number: 04530365

Prepared for the registrar

Made Media Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 September 2024

 

Made Media Ltd

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 8

 

Made Media Ltd

(Registration number: 04530365)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

21,289

14,149

Investments

5

48,672

47,922

 

69,961

62,071

Current assets

 

Debtors

6

1,064,270

931,314

Cash at bank and in hand

 

954,647

609,209

 

2,018,917

1,540,523

Creditors: Amounts falling due within one year

7

(822,256)

(703,728)

Net current assets

 

1,196,661

836,795

Total assets less current liabilities

 

1,266,622

898,866

Creditors: Amounts falling due after more than one year

7

(41,667)

(91,667)

Deferred tax liabilities

9

(4,509)

(2,688)

Net assets

 

1,220,446

804,511

Capital and reserves

 

Called up share capital

10

30

30

Capital redemption reserve

69

69

Retained earnings

1,220,347

804,412

Shareholders' funds

 

1,220,446

804,511

For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 18 June 2025 and signed on its behalf by:
 


J P Grimley
Director

 

Made Media Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

 

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Windsor House
Bayshill Road
Cheltenham
Gloucestershire
GL50 3AT
United Kingdom

The principal place of business is:
156 Great Charles Street
Queensway
Birmingham
B3 3HN
United Kingdom

 

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Group accounts not prepared

The company has taken advantage of the exemption in section 398 of the Companies Act 2006 from the requirement to prepare consolidated financial statements, on the grounds that it is a small group.

Going concern

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
 

Judgements

No significant judgements have been made by management in preparing these financial statements.

 

Made Media Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Key sources of estimation uncertainty

No key sources of estimation uncertainty have been identified by management in preparing these financial statements other than those detailed in these accounting policies.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rates prevailing on the initial transaction dates.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in the profit and loss account, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation 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 taxable income.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture, fittings and equipment

20% straight line

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

 

Made Media Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Trade debtors

Trade debtors are amounts due from customers for goods sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. All trade debtors are repayable within one year and hence are included at the undiscounted cost of cash expected to be received. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the debtors.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and all are repayable within one year and hence are included at the undiscounted amount of cash expected to be paid.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments


Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.

 

Made Media Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024


Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.


Impairment
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss as described below.

A non financial asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

For financial assets carried at amortised cost, the amount of an impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 25 (2023 - 19).

 

4

Tangible assets

Furniture, fittings and equipment
 £

Cost

At 1 October 2023

59,082

Additions

21,821

Disposals

(1,135)

At 30 September 2024

79,768

Depreciation

At 1 October 2023

44,933

Charge for the year

14,681

Eliminated on disposal

(1,135)

At 30 September 2024

58,479

Carrying amount

At 30 September 2024

21,289

At 30 September 2023

14,149

 

Made Media Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

 

5

Investments

2024
£

2023
£

Investments in subsidiaries

48,672

47,922

Subsidiaries

£

Cost

At 1 October 2023

47,922

Additions

750

At 30 September 2024

48,672

Carrying amount

At 30 September 2024

48,672

At 30 September 2023

47,922

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Country of incorporation

Holding

Proportion of voting rights and shares held

2024

2023

Subsidiary undertakings

CrowdHandler Ltd

England and Wales

Ordinary

80%

80%

Made Media Inc

USA

Ordinary

100%

100%

Basker Ltd

England and Wales

Ordinary

75%

0%

 

6

Debtors

Note

2024
£

2023
£

Trade debtors

 

234,070

179,998

Receivables from related parties

11

703,464

645,485

Prepayments

 

20,232

2,966

Other debtors

 

106,504

102,865

 

1,064,270

931,314

 

Made Media Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

 

7

Creditors

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

50,000

50,000

Trade creditors

 

136,194

159,744

Taxation and social security

 

180,292

97,540

Accruals and deferred income

 

447,699

390,034

Other creditors

 

8,071

6,410

 

822,256

703,728

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

41,667

91,667

 

8

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank borrowings

50,000

50,000

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

41,667

91,667

The above bank borrowings are secured by way of a fixed and floating charge over the assets of the company.

 

9

Deferred tax

Deferred tax assets and liabilities

2024

Liability
£

Fixed asset timing differences

5,322

Short term timing differences

(813)

4,509

2023

Liability
£

Fixed asset timing differences

3,537

Short term timing differences

(849)

2,688

 

Made Media Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

 

10

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £0.01 each

3,000

30.00

3,000

30.00

         


Share based payment

Although aware of the requirements, the directors have made no share based payment adjustment to the financial statements in respect of the share options granted during the year ended 30 September 2024 since they are unable to provide a reliable value.

 

11

Related party transactions

Summary of transactions with subsidiaries


Amounts owed to the company include £243,885 (2023 - £225,000) due from CrowdHandler Ltd, of which £52,218 (2023 - £Nil) is due within one year and £191,667 (2023 - £225,000) is due in after more than one year. No interest was charged during the year on this amount.

A facility agreement of £250,000 has been made available to Basker Ltd. This facility is repayable in full in February 2027, with interest charged at base rate plus 1%. As at the year end, the outstanding balance due from Basker Limited was £97,250.