REGISTERED NUMBER: |
Financial Statements for the Year Ended 30 June 2024 |
for |
The Contented Digital Media Company |
Limited |
REGISTERED NUMBER: |
Financial Statements for the Year Ended 30 June 2024 |
for |
The Contented Digital Media Company |
Limited |
The Contented Digital Media Company |
Limited (Registered number: 08333466) |
Contents of the Financial Statements |
for the Year Ended 30 June 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
The Contented Digital Media Company |
Limited |
Company Information |
for the Year Ended 30 June 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Accountants |
and Statutory Auditor |
Unit 1B |
Focus 4 |
Fourth Avenue |
Letchworth |
Hertfordshire |
SG6 2TU |
The Contented Digital Media Company |
Limited (Registered number: 08333466) |
Balance Sheet |
30 June 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CREDITORS |
Amounts falling due after more than one year |
8 |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Share premium |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
The financial statements were approved by the Board of Directors and authorised for issue on |
The Contented Digital Media Company |
Limited (Registered number: 08333466) |
Notes to the Financial Statements |
for the Year Ended 30 June 2024 |
1. | STATUTORY INFORMATION |
The Contented Digital Media Company Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the 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. |
Going Concern |
The company has net current liabilities £1,770,447 at the balance sheet date. |
The company has received confirmation from its ultimate parent undertaking, Miroma Holdings Limited, that it will continue to provide such financial support as required by the company to be able to continue its operations as a going concern and pay its debts as they fall due. This support has been provided for a period of 12 months from the date of approval of these financial statements. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Rendering of services |
When the outcome of a transaction can be estimated reliably, turnover from media contracts is recognised by reference to the stage of completion at the balance sheet date. Stage of completion is measured by reference to the Contract or the detailed Scope of Work. |
Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable. |
Tangible fixed assets |
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. |
Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows: |
Fixtures and fittings | - 25% on reducing balance |
Computer equipment | - 25% on reducing balance |
The Contented Digital Media Company |
Limited (Registered number: 08333466) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
3. | ACCOUNTING POLICIES - continued |
Financial instruments |
Debtors |
Short term debtors are measured at transaction price (which is usually the invoice price), less any |
impairment losses for bad and doubtful debts. |
Creditors |
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case these are stated at cost. |
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 tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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. |
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. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
The Contented Digital Media Company |
Limited (Registered number: 08333466) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
5. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Computer |
fittings | equipment | Totals |
£ | £ | £ |
COST |
At 1 July 2023 |
and 30 June 2024 |
DEPRECIATION |
At 1 July 2023 |
Charge for year |
At 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
At 30 June 2023 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Sundry Debtors and Prepayments | 98,211 | 59,493 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts (see note 9) |
Trade creditors |
Amounts owed to group undertakings |
Taxation & Social Security | 328,025 | 228,944 |
Directors' current accounts | 340,007 | 375,385 |
Accruals and deferred income |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans (see note 9) |
The Contented Digital Media Company |
Limited (Registered number: 08333466) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
9. | LOANS |
An analysis of the maturity of loans is given below: |
2024 | 2023 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank overdrafts |
Bank loans |
Amounts falling due between one and two years: |
Bank loans - 1-2 years |
Amounts falling due between two and five years: |
Bank loans - 2-5 years |
10. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2024 | 2023 |
£ | £ |
Within one year |
11. | SECURED DEBTS |
The bank has a fixed and floating charge over the assets of the company. |
12. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
Material uncertainty related to going concern |
We draw attention to the going concern note of the financial statements which indicates the company is dependent on the continued support of the ultimate parent company. The dependence on parent company support indicates the existence of material uncertainty that may cast doubt about the company's ability to continue as a going concern. |
13. | RELATED PARTY DISCLOSURES |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
The Contented Digital Media Company |
Limited (Registered number: 08333466) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
14. | POST BALANCE SHEET EVENTS |
As part of a group reorganisation on 27 June 2024 the ownership of the company transferred to Way to Blue (which was renamed to The Multiple Agency Limited on 26 July 2024). Contented became part of a new trading entity called Multiple, bringing together three of the Miroma Group's companies focussed on production and amplification of creative content. |
The existing trade and clients of Contented were subsequently transferred to Multiple. The Contented brand remains in use for potential future projects. |
15. | ULTIMATE CONTROLLING PARTY |
The Multiple Agency Limited is the immediate parent. The Multiple Agency Limited is controlled by Marc Boyan by virtue of shareholding and therefore is the ultimate controlling party of The Contented Digital Media Company Limited. |