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REGISTERED NUMBER: 05344883 (England and Wales)















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: A J Giles
D S Walsh
A Lenthall





Secretary: A J Giles





Registered office: Waterloo Place
Watson Square
Stockport
Cheshire
SK1 3AZ





Registered number: 05344883 (England and Wales)





Accountants: S&W Partners (Manchester) Limited
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 45,000 52,500

Current assets
Debtors 6 5,657 9,611
Cash at bank 38,588 48,749
44,245 58,360
Creditors
Amounts falling due within one year 7 117,607 127,142
Net current liabilities (73,362 ) (68,782 )
Total assets less current liabilities (28,362 ) (16,282 )

Capital and reserves
Called up share capital 8 111 111
Other reserves 9 75,000 75,000
Retained earnings 9 (103,473 ) (91,393 )
Shareholders' funds (28,362 ) (16,282 )

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

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

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 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 July 2025 and were signed on its behalf by:





A J Giles - Director


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 private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. Statement of compliance

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.

3. Accounting policies

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

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 75,000
Amortisation
At 1 January 2024 22,500
Charge for year 7,500
At 31 December 2024 30,000
Net book value
At 31 December 2024 45,000
At 31 December 2023 52,500

6. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 3,600 9,600
Other debtors 2,057 11
5,657 9,611

7. Creditors: amounts falling due within one year
2024 2023
£    £   
Trade creditors 2,241 9,471
Amounts owed to group undertakings 110,000 -
Taxation and social security - 8,451
Other creditors 5,366 109,220
117,607 127,142

8. Called up share capital

Allotted and issued:
Number: Class: Nominal 2024 2023
value: £    £   
11,100 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.