Company registration number SC605895 (Scotland)
TWO RIVERS MEDIA LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
TWO RIVERS MEDIA LTD
COMPANY INFORMATION
Directors
Mr A Clements
Mr R S L Woodward
Company number
SC605895
Registered office
James Miller Building
4th Floor
98 West George Street
Glasgow
G2 1PJ
Accountants
Azets
Titanium 1
King's Inch Place
Renfrew
United Kingdom
PA4 8WF
TWO RIVERS MEDIA LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
TWO RIVERS MEDIA LTD
BALANCE SHEET
AS AT 31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
3
6
5
Current assets
Debtors
4
1,127,736
780,266
Cash at bank and in hand
114,905
686,496
1,242,641
1,466,762
Creditors: amounts falling due within one year
5
(1,752,900)
(2,003,058)
Net current liabilities
(510,259)
(536,296)
Total assets less current liabilities
(510,253)
(536,291)
Creditors: amounts falling due after more than one year
6
(506,405)
(516,754)
Net liabilities
(1,016,658)
(1,053,045)
Capital and reserves
Called up share capital
7
1,025,947
1,025,947
Capital redemption reserve
2,509,068
2,509,068
Profit and loss reserves
(4,551,673)
(4,588,060)
Total equity
(1,016,658)
(1,053,045)

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

TWO RIVERS MEDIA LTD
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024
31 December 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 31 July 2025 and are signed on its behalf by:
Mr A Clements
Director
Company Registration No. SC605895
TWO RIVERS MEDIA LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
1
Accounting policies
Company information

Two Rivers Media Ltd is a private company limited by shares incorporated in Scotland. The registered office is James Miller Building, 4th Floor, 98 West George Street, Glasgow, G2 1PJ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Going concern

The company has net liabilities of £1,016,658 at 31 December 2024 (2023: £1,053,045). The directors and investors will continue to support the company in order to continue to trade and meet its ongoing liabilities. The directors have considered a period of at least twelve months from the date on which these financial statements have been signed and having considered all relevant information available to them, believe it appropriate to prepare the financial statements on a going concern basis.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.4
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

TWO RIVERS MEDIA LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.7
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.8
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
20
19
3
Fixed asset investments
2024
2023
£
£
Other investments other than loans
6
5
Movements in fixed asset investments
Investments
£
Cost or valuation
At 1 January 2024
5
Additions
1
At 31 December 2024
6
Carrying amount
At 31 December 2024
6
At 31 December 2023
5
TWO RIVERS MEDIA LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 5 -
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
194,538
134,881
Amounts owed by group undertakings
8,154
5,694
Other debtors
925,044
639,691
1,127,736
780,266
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
10,348
10,092
Trade creditors
262,446
348,788
Taxation and social security
125,725
188,456
Other creditors
1,354,381
1,455,722
1,752,900
2,003,058
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
506,405
516,754

The long-term loans are secured by floating charges.

7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A of 10p each
8,501,000
8,501,000
850,100
850,100
Ordinary B of 10p each
1,758,474
1,758,474
175,847
175,847
10,259,474
10,259,474
1,025,947
1,025,947
8
Related party transactions

The following amounts were outstanding at the reporting end date:

2024
2023
Amounts due from related parties
£
£
Entities over which the entity has control, joint control or significant influence
8,154
5,694
TWO RIVERS MEDIA LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
8
Related party transactions
(Continued)
- 6 -

The above amount is unsecured, interest free and repayable on demand.

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