Registration number: 06519299

Evolve Media Digital (UK) Limited

Contents

Company Information	1
Statement of Financial Position	2
Notes to the Financial Statements	3 to 6

Evolve Media Digital (UK) Limited

Company Information

Director

A M Broder

Registered office

130 Shaftesbury Avenue 2nd Floor London W1D 5EU

Auditor

Brebners Chartered Accountants & Statutory Auditor 130 Shaftesbury Avenue London W1D 5AR

Evolve Media Digital (UK) Limited

Statement of Financial Position as at 31 December 2024

	Note	2024 £	(As restated) 2023 £
Current assets
Debtors	6	68,713	24,538
Cash at bank and in hand		42,323	33,244
		111,036	57,782
Creditors: Amounts falling due within one year	7	(1,629,624)	(1,542,057)
Net liabilities		(1,518,588)	(1,484,275)
Capital and reserves
Called up share capital		1	1
Capital contribution reserve		4,177,210	4,177,210
Retained earnings		(5,695,799)	(5,661,486)
Shareholders' deficit		(1,518,588)	(1,484,275)

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

The director of Evolve Media Digital (UK) Limited has elected not to include a copy of the Income Statement within the financial statements, in accordance with the special provisions relating to companies subject to the small companies regime within the Companies Act 2006, s444.

Approved and authorised by the director on 3 September 2025
 

.........................................

A M Broder

Director

Company registration number: 06519299

Evolve Media Digital (UK) Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
130 Shaftesbury Avenue
2nd Floor
London
W1D 5EU

The principal activity of the company is that of the provision of online advertising.

2	Audit Report

The Independent Auditor's Report was unqualified. We draw attention to note 2 in the financial statements which states that the company made a loss for the year ended 31 December 2024 and that at that date the company's liabilities exceeded its assets by £1,518,588. The company remains dependent on the continued financial support of its parent undertaking. As stated in note 2, these events or conditions, along with other matters set forth in note 2, indicate that a material uncertainty exists that may cast significant doubt on the company's ability to continue as a going concern. Our opinion is not modified in respect of this matter. The name of the Senior Statutory Auditor who signed the audit report on 4 September 2025 was Colin Li, who signed for and on behalf of Brebners.

3	Accounting policies

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' Section 1A and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Summary of significant accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Evolve Media Digital (UK) Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

Going concern

The company made a loss for the year ended 31 December 2024 and had a net deficiency of assets of £1,518,588 at that date.

The company relies on the support of the parent undertaking and its subsidiary undertakings to provide working capital. At 31 December 2024 a net amount of £1,605,656 was due to the group. The company has received assurances from the group that these amounts will not be called for repayment until such time as the company has sufficient working capital, and that it will continue to support the company for the foreseeable future.

The company is focused on maintaining its low overhead structure, and based on cashflow forecasts the director expects the company will continue to be profitable in the forthcoming year with sufficient working capital generated from operations.

Having made sufficient enquiries, and based upon the above, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the director continues to adopt the going concern basis in preparing the financial statements.

Revenue recognition

The turnover shown in the profit and loss account represents amounts receivable for services rendered during the year, exclusive of Value Added Tax.

The company recognises turnover under contracts evenly over the period of the contract on the basis of the stage of completion. Provisions are made for foreseeable losses where they are identified.

Foreign currency transactions and balances

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement, and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the best current estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in the profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle an obligation, the unwinding of the discount is recognised as a finance cost in the profit or loss in the period in which it arises.

4	Staff numbers

The average number of persons employed by the company during the year, was 0 (2023 - 0).

Evolve Media Digital (UK) Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

5	Loss/profit before tax

Arrived at after charging/(crediting)

	2024 £	2023 £
Foreign currency (gains)/losses	21,148	(82,927)

Evolve Media Digital (UK) Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

6

Debtors

	2024 £	(As restated) 2023 £
Trade debtors	64,641	14,423
Other debtors	4,072	10,115
	68,713	24,538

7

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	(As restated) 2023 £
Trade creditors		211	-
Amounts owed to group undertakings	8	1,605,656	1,531,307
Taxation and social security		10,268	-
Accruals and deferred income		13,489	10,750
		1,629,624	1,542,057