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Registered number: 08923953









NARA MEDIA LIMITED









DIRECTORS' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

 
NARA MEDIA LIMITED
 
 
COMPANY INFORMATION


Directors
José Antonio Martinez Aguilar 
Matthew Hudson (appointed 9 December 2024)




Registered number
08923953



Registered office
210 High Holborn

London

WC1V 7EP




Independent auditors
Wisteria Audit Ltd
Chartered Accountants & Statutory Auditors

Pikes End

Pinner

Middlesex

HA5 2EX





 
NARA MEDIA LIMITED
 

CONTENTS



Page
Directors' Report
1 - 2
Independent Auditors' Report
3 - 7
Profit and Loss Account
8
Balance Sheet
9
Statement of Changes in Equity
10
Notes to the Financial Statements
11 - 18


 
NARA MEDIA LIMITED
 
 
 
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024

The directors present their report and the financial statements for the year ended 31 December 2024.

Principal activity

The principal activity of the entity is the provision of digital marketing services.

Directors' responsibilities statement

The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
 
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.

 In preparing these financial statements, the directors are required to:


select suitable accounting policies for the Company's financial statements and then apply them consistently;

make judgments and accounting estimates that are reasonable and prudent;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Directors

The directors who served during the year were:

José Antonio Martinez Aguilar 
Lloyd Victor Davies (resigned 9 December 2024)
Matthew Hudson (appointed 9 December 2024)

Disclosure of information to auditors

Each of the persons who are directors at the time when this Directors' Report is approved has confirmed that:
 
so far as the director is aware, there is no relevant audit information of which the Company's auditors are unaware, and

the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information.

Post balance sheet events

There have been no significant events affecting the Company since the year end.

Page 1

 
NARA MEDIA LIMITED
 
 
 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024

Going concern

The directors have prepared the financial statements on a going concern basis, having obtained a signed letter of financial support from the parent company for a period of at least 12 months from the date of signing these financial statements. The directors have also assessed the financial ability of the parent company to be able to provide financial support for a period of at least 12 months from the date of signing these financial statements.
On the basis of the above, the directors consider that it is appropriate to prepare the financial statements on a going concern basis.

Auditors

The auditorsWisteria Audit Ltdwill be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

Small companies note

In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

This report was approved by the board on 21 July 2025 and signed on its behalf.
 





José Antonio Martinez Aguilar
Director

Page 2

 
NARA MEDIA LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF NARA MEDIA LIMITED
 

Opinion


We have audited the financial statements of Nara Media Limited (the 'Company') for the year ended 31 December 2024, which comprise the Profit and Loss Account, the Balance Sheet, the Statement of Changes in Equity and the related notes, including a summary of significant accounting policiesThe financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

give a true and fair view of the state of the Company's affairs as at 31 December 2024 and of its loss for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.


Basis for opinion


We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.


Conclusions relating to going concern


We are responsible for concluding on the appropriateness of the directors’ use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify the auditor’s opinion. Our conclusions are based on the audit evidence obtained up to the date of our report. However, future events or conditions may cause the company to cease to continue as a going concern.


In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.


Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.


Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.


Page 3

 
NARA MEDIA LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF NARA MEDIA LIMITED (CONTINUED)


Other information


The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The directors are responsible for the other information contained within the Annual ReportOur opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.


We have nothing to report in this regard.


Opinion on other matters prescribed by the Companies Act 2006
 

In our opinion, based on the work undertaken in the course of the audit:


the information given in the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Directors' Report has been prepared in accordance with applicable legal requirements.


Matters on which we are required to report by exception
 

In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors' Report.


We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:


adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit; or
the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Directors' Report and from the requirement to prepare a Strategic Report.


Page 4

 
NARA MEDIA LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF NARA MEDIA LIMITED (CONTINUED)


Responsibilities of directors
 

As explained more fully in the Directors' Responsibilities Statement set out on page 1, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.


In preparing the financial statements, the directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so.


Page 5

 
NARA MEDIA LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF NARA MEDIA LIMITED (CONTINUED)


Auditors' responsibilities for the audit of the financial statements
 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.


Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We obtained an understanding of the legal and regulatory frameworks applicable to the Company, and sector in which they operate. In addition, we concluded that there are certain significant laws and regulations that may have an effect on the determination of the amounts and disclosures in the financial statements such as: Financial Reporting Standard 102 Section 1A applicable in the UK and Republic of Ireland ('United Kingdom Generally Accepted Accounting Practice), Companies Act 2006 and taxations laws.

We understood how the Company are complying with those legal and regulatory frameworks through discussions with management and those charged with governance. 

We assessed the susceptibility of the Company's financial statements to material misstatement, including how fraud might occur. Audit procedures performed by the engagement team included:

°identifying and assessing the design effectiveness of controls management has in place to prevent and detect fraud;
°understanding how those charged with governance considered and addressed the potential for override of controls or other inappropriate influence over the financial reporting process; 
°challenging assumptions and judgements made by management in its significant accounting estimates; 
°identifying and testing journal entries, in particular any journal entries posted with unusual account combinations; and 
°assessing the extent of compliance with the relevant laws and regulations as part of our procedures on the related financial statement item. 

Our procedures to obtain sufficient appropriate audit evidence in response to the assessment risks of material misstatement due to fraud included: 

Reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with relevant laws and regulations; 
Performing a detailed review of the company’s year-end adjusting entries; 
Enquiries being made of management with regard to actual and potential litigation and claims; 
Obtaining and reviewing minutes of Board meetings, evidence of legal fees incurred, and any correspondence with HMRC, for indicators of possible fraud and non-compliance; 
Testing the appropriateness of the accounting policies relating to revenue recognition and performing specific procedures over the existence and cut-off of revenue around the year end; 
Carrying out substantive testing of journal entries to assess whether they are appropriate, and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business; 
Performing a detailed review of key accounting estimates, including a respective review of outcomes against estimates included in the prior year’s financial statements and assessing whether the judgements made in arriving at the accounting estimates are indicative of potential bias; and 
Page 6

 
NARA MEDIA LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF NARA MEDIA LIMITED (CONTINUED)


We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indicators of fraud or non-compliance with laws and regulations throughout the audit.

These audit procedures were designed to provide reasonable assurance that the financial statements were free from fraud or error. The risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error and detecting irregularities that result from fraud is inherently more difficult than detecting those that result from error, as fraud may involve collusion, deliberate concealment, forgery or intentional misrepresentations.


A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.


Use of our report
 

This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.





Barry Au FCA (Senior Statutory Auditor)
for and on behalf of
Wisteria Audit Ltd
Chartered Accountants & Statutory Auditors
Pikes End
Pinner
Middlesex
HA5 2EX

21 July 2025
Page 7

 
NARA MEDIA LIMITED
 
 
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2024

2024
2023
Note
£
£

  

Turnover
  
6,335,829
5,787,122

Cost of sales
  
(4,814,460)
(4,215,991)

Gross profit
  
1,521,369
1,571,131

Administrative expenses
  
(1,623,532)
(1,914,314)

Operating loss
 5 
(102,163)
(343,183)

Interest receivable and similar income
  
11,531
14,728

Interest payable and similar expenses
  
(26,659)
-

Loss before tax
  
(117,291)
(328,455)

Tax on loss
 7 
-
(35,870)

Loss for the financial year
  
(117,291)
(364,325)

The notes on pages 11 to 18 form part of these financial statements.

Page 8

 
NARA MEDIA LIMITED
REGISTERED NUMBER: 08923953

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 8 
8,078
18,888

  
8,078
18,888

Current assets
  

Debtors: amounts falling due within one year
 9 
1,538,373
1,487,808

Cash at bank and in hand
 10 
310,027
659,659

  
1,848,400
2,147,467

Creditors: amounts falling due within one year
 11 
(1,849,125)
(2,041,711)

Net current (liabilities)/assets
  
(725)
105,756

  

Net assets
  
7,353
124,644


Capital and reserves
  

Called up share capital 
 12 
1
1

Profit and loss account
 13 
7,352
124,643

  
7,353
124,644


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 21 July 2025.




José Antonio Martinez Aguilar
Director

The notes on pages 11 to 18 form part of these financial statements.

Page 9

 
NARA MEDIA LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 January 2022
1
761,357
761,358


Comprehensive income for the year

Loss for the year

-
(364,325)
(364,325)


Contributions by and distributions to owners

Dividends
-
(272,389)
(272,389)



At 1 January 2023
1
124,643
124,644


Comprehensive income for the year

Loss for the year
-
(117,291)
(117,291)


At 31 December 2024
1
7,352
7,353


The notes on pages 11 to 18 form part of these financial statements.

Page 10

 
NARA MEDIA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

Nara Media Limited is a private company limited by share capital, incorporated in England and Wales, registration number 08923953. The address of the registered office is 210 High Holborn, London, England, WC1V 7EP

2.Accounting policies

 
2.1

Basis of preparation of 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.

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors have prepared the financial statements on a going concern basis, having obtained a signed letter of financial support from the parent company for a period of at least 12 months from the date of signing these financial statements. The directors have also assessed the financial ability of the parent company to be able to provide financial support for a period of at least 12 months from the date of signing these financial statements.
On the basis of the above, the directors consider that it is appropriate to prepare the financial statements on a going concern basis.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Page 11

 
NARA MEDIA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.4

Turnover

The total transaction price of a contract is allocated among the various performance  obligations based on their relative stand-alone selling prices. The transaction price of a contract excludes any amounts collected on behalf of third parties. Ordinary income is recognised at a specific moment or over time, when (or as) the Company satisfies performance obligations through the transfer of promised goods or services to its customers.
The Company recognises the liabilities for onerous contracts received in connection with unsatisfied  performance obligations and presents these amounts as other liabilities on the balance sheet. Similarly, if the Company satisfies a performance obligation before receiving the consideration, the Company recognises a contract asset or a credit on its balance sheet, depending on whether more than the passage of time is required before the consideration be enforceable.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.9

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.

Page 12

 
NARA MEDIA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)


2.9
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Office equipment
-
33%
Computer equipment
-
20%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

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. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

Short-term 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.

 
2.13

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

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 Profit and Loss Account.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Page 13

 
NARA MEDIA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.14

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

The preparation of the financial statements in conformity with Generally Accepted Accounting Practice (GAAP) requires management to make estimates and judgments that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and their reported amounts of revenues and expenses during the period.
Critical judgments
There were no judgments required to be made in preparing the accounts which had, or could have had, a material impact on the financial statements.
Critical estimates
The estimation and recognition of accrued expenses represents a critical estimate in the preparation of the financial statements. Accrued expenses are identified through a process designed to ensure that all expenses are recorded in the correct accounting period, even if the corresponding cash transactions or invoices have not yet been received. At the end of each reporting period, a detailed review is conducted to identify any costs that have been incurred but are not yet recorded. Departments are required to report any known obligations that have not yet been captured in the accounting system.
 
Ongoing contracts, purchase orders, and recurring monthly commitments are reviewed to determine if any portion of the cost relates to the current period.


4.


Turnover

An analysis of turnover by class of business is as follows:


2024
2023
£
£

Digital marketing services
6,335,829
5,787,122

6,335,829
5,787,122




Page 14

 
NARA MEDIA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

5.


Operating loss

The operating loss is stated after charging:

2024
2023
£
£

Exchange differences
4,338
(177)

4,338
(177)


6.


Employees

The average monthly number of employees, including directors, during the year was 18 (2023 - 20).


7.


Taxation


2024
2023
£
£

Corporation tax


Current tax on (loss)/profits for the year
-
35,870

Total current tax
-
35,870

Factors affecting tax charge for the year

The tax assessed for the year is higher than (2023 - higher than) the standard rate of corporation tax in the UK of25% (2023 - 25%). The differences are explained below:

2024
2023
£
£


Profit on ordinary activities before tax
(117,291)
-


(Loss)/profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2023 - 25%)
(29,323)
-

Effects of:


Expenses not deductible for tax purposes, other than goodwill amortisation and impairment
3,034
-

Non-trading loan relationship credits
(1,798)
-

Adjustments to tax charge in respect of prior periods
-
35,870

Unrelieved tax losses carried forward
30,054
-

Other differences leading to an increase (decrease) in the tax charge
(1,967)
-

Total tax charge for the year
-
35,870

Page 15

 
NARA MEDIA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
 
7.Taxation (continued)


Factors that may affect future tax charges

There were no factors that may affect future tax charges.


8.


Tangible fixed assets





Office equipment
Computer equipment
Total

£
£
£



Cost or valuation


At 1 January 2024
6,903
41,094
47,997



At 31 December 2024

6,903
41,094
47,997



Depreciation


At 1 January 2024
4,771
24,338
29,109


Charge for the year on owned assets
859
9,951
10,810



At 31 December 2024

5,630
34,289
39,919



Net book value



At 31 December 2024
1,273
6,805
8,078



At 31 December 2023
2,132
16,756
18,888


9.


Debtors

2024
2023
£
£


Trade debtors
412,985
861,433

Amounts owed by group undertakings
775,136
347,620

Other debtors
350,252
278,755

1,538,373
1,487,808


Included within amounts owed by group undertakings is a balance totalling £492,789 (2023: £Nil) that is unsecured, repayable on demand and includes interest of £10,342 (2023: £Nil). All other amounts owed by group undertakings are unsecured, interest free and repayable on demand.

Page 16

 
NARA MEDIA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

10.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
310,027
659,659

310,027
659,659



11.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
417,820
298,796

Amounts owed to group undertakings
1,044,946
1,025,862

Other taxation and social security
12,447
16,537

Other creditors
373,912
700,516

1,849,125
2,041,711


Included within amounts owed to group undertakings is a balance totalling £65,631 (2023: £Nil) that is unsecured, repayable on demand and includes interest of £1,486 (2023: £Nil). All other amounts owed to group undertakings are unsecured, interest free and repayable on demand.


12.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



28 (2023 - 28) A Ordinary shares of £0.01 each
0.28
0.28
62 (2023 - 62) B Ordinary shares of £0.01 each
0.62
0.62

0.90

0.90



13.


Reserves

Profit and loss account

The profit and loss account comprises all current and prior period retained earnings.

Page 17

 
NARA MEDIA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

14.


Pension commitments

The Company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £19,734 (2023: £32,311) contributions totalling £nil (2023:  £7,867) were payable to the fund at the balance sheet date.


15.


Commitments under operating leases

At 31 December 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
161,865
148,376

Later than 1 year and not later than 5 years
242,798
445,129

404,663
593,505


16.


Related party transactions

Included within amounts owed by group undertakings is a balance due from subsidiaries of the parent company not owned wholly within the group totalling £177 (2023: £179). Included within amounts owed to group undertakings is a balance due from subsidiaries of the parent company not owned wholly within the group totalling £10,826 (2023: £Nil).
During the year, the Company made sales to and purchases from subsidiaries of the parent company not wholly owned within the group totalling £10,826 (£Nil) and £179 (2023: £179) respectively.
The Company has claimed exemption under FRS 102, Section 33.1A from disclosing all other transactions with group entities.


17.


Post balance sheet events

There have been no significant events affecting the Company since the balance sheet date.


18.


Controlling party

The ultimate controlling party of Nara Media Limited is Making Science Group, S.A., a company incorporated in Spain and registered at Calle Lopez De Hoyos 135, Piso 3, 28002, Madrid.

Page 18