| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 December 2024 |
| for |
| FESTIVAL INSIGHTS LIMITED |
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 December 2024 |
| for |
| FESTIVAL INSIGHTS LIMITED |
| FESTIVAL INSIGHTS LIMITED (REGISTERED NUMBER: 05344883) |
| Contents of the Financial Statements |
| for the Year Ended 31 December 2024 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 3 |
| FESTIVAL INSIGHTS LIMITED |
| Company Information |
| for the Year Ended 31 December 2024 |
| Directors: |
| Secretary: |
| Registered office: |
| Registered number: |
| Accountants: |
| Accountants |
| Northern Assurance Buildings |
| 9-21 Princess Street |
| Manchester |
| M2 4DN |
| FESTIVAL INSIGHTS LIMITED (REGISTERED NUMBER: 05344883) |
| Statement of Financial Position |
| 31 December 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ |
| Fixed assets |
| Intangible assets | 5 |
| Current assets |
| Debtors | 6 |
| Cash at bank |
| Creditors |
| Amounts falling due within one year | 7 |
| Net current liabilities | ( |
) | ( |
) |
| Total assets less current liabilities | ( |
) | ( |
) |
| Capital and reserves |
| Called up share capital | 8 |
| Other reserves | 9 |
| Retained earnings | 9 | ( |
) | ( |
) |
| Shareholders' funds | ( |
) | ( |
) |
| The directors acknowledge their 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 were approved by the Board of Directors and authorised for issue on |
| FESTIVAL INSIGHTS LIMITED (REGISTERED NUMBER: 05344883) |
| Notes to the Financial Statements |
| for the Year Ended 31 December 2024 |
| 1. | Statutory information |
| Festival Insights Limited is a |
| 2. | Statement of compliance |
| 3. | Accounting policies |
| Basis of preparing the financial statements |
| The presentation currency of these financial statements is Sterling. All amounts in these financial statements have been rounded to the nearest £1. |
| The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies. |
| The following principal accounting policies have been applied: |
| Going concern |
| As at year end the company has net current liabilities. The company is dependent, in the absence of other funding, on the continued financial support from a company under common control. The company under common control has confirmed its commitment to provide the necessary support by providing adequate facilities. |
| On that basis the directors consider it appropriate to prepare the financial statements on a going concern basis. |
| Creditors |
| Short term creditors are measured at the transaction price. |
| Turnover |
| Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates. value added tax and other sales taxes. |
| Revenue is recognised in the period that the service has been rendered. |
| Goodwill |
| Goodwill, being the amount paid in connection with the acquisition of a business in 2020, is being amortised evenly over its estimated useful life of 10 years. |
| Goodwill is stated at cost less any accumulated amortisation and accumulated impairment losses. |
| 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. |
| 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 NIL (2023 - NIL). |
| FESTIVAL INSIGHTS LIMITED (REGISTERED NUMBER: 05344883) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 5. | Intangible fixed assets |
| Goodwill |
| £ |
| Cost |
| At 1 January 2024 |
| and 31 December 2024 |
| Amortisation |
| At 1 January 2024 |
| Charge for year |
| At 31 December 2024 |
| Net book value |
| At 31 December 2024 |
| At 31 December 2023 |
| 6. | Debtors: amounts falling due within one year |
| 2024 | 2023 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 7. | Creditors: amounts falling due within one year |
| 2024 | 2023 |
| £ | £ |
| Trade creditors |
| Amounts owed to group undertakings |
| Taxation and social security |
| Other creditors |
| 8. | Called up share capital |
| Allotted and issued: |
| Number: | Class: | Nominal | 2024 | 2023 |
| value: | £ | £ |
| Ordinary | £0.01 | 111 | 111 |
| FESTIVAL INSIGHTS LIMITED (REGISTERED NUMBER: 05344883) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 9. | Reserves |
| The company's capital and reserves are as follows: |
| Called up share capital |
| The called up share capital represents the nominal value of the shares issued. |
| Profit and loss account |
| The profit and loss account represents cumulative profits or losses net of dividends paid and other adjustments. |
| Other reserves |
| The other reserves represents the capital contributions made. |
| 10. | Related party disclosures |
| Included in amounts owed to group undertakings is a loan balance of £110,000 (2023- £100,000) with the parent company. The loan carries no interest and is repayable on demand. |
| During the year there were purchases of £65,677 (2023- £60,699) made from the parent company. The amount due to this company at year end was £1,907 (2023 - £6,713). |
| 11. | Ultimate controlling party |
| The immediate parents undertaking of the company at the year-end was Mondiale Media Limited, incorporated in England and Wales. Their registered office is Waterloo Place, Watson Square, Stockport, Cheshire, SK1 3AZ. |
| The parent undertaking and ultimate controlling party of the smallest and largest group for which consolidated accounts are prepared is Mondiale Media Limited incorporated in England and Wales. Consolidated accounts are available from their registered at Waterloo Place, Watson Square, Stockport, Cheshire, SK1 3AZ. |
| Mondiale Media Limited is directed by Damian Walsh, who has majority interest. |