Watkins Media Limited 31/12/2024 iXBRL

Company registration number: 09171151

Watkins Media Limited

Unaudited filleted financial statements

31 December 2024

Watkins Media Limited

Contents

Directors and other information

Statement of financial position

Notes to the financial statements

Watkins Media Limited

Directors and other information


	Directors	Mr Etan Jonathan Ilfeld
		Mrs Vicky Hartley


	Company number	09171151


	Registered office	Unit 11, Shepperton House
		89 Shepperton Road
		London
		N1 3DF


	Business address	Unit 11, Shepperton House
		89 Shepperton Road
		London
		N1 3DF


	Accountants	Pritchard Fellows & Co
		Avery House
		8 Avery Hill Road
		New Eltham
		London
		SE9 2BD

Watkins Media Limited

Statement of financial position

31 December 2024

		2024		2023
	Note	£	£	£	£

Fixed assets
Intangible assets	5	5,504		57,196
Tangible assets	6	89,917		43,068
		_______		_______
			95,421		100,264

Current assets
Stocks		1,722,726		1,509,045
Debtors	7	2,202,351		1,979,313
Cash at bank and in hand		264,541		121,719
		_______		_______
		4,189,618		3,610,077
Creditors: amounts falling due
within one year	8	( 7,967,348)		( 6,686,209)
		_______		_______
Net current liabilities			( 3,777,730)		( 3,076,132)
			_______		_______
Total assets less current liabilities			( 3,682,309)		( 2,975,868)

			_______		_______
Net liabilities			( 3,682,309)		( 2,975,868)
			_______		_______

Capital and reserves
Called up share capital			1		1
Profit and loss account			( 3,682,310)		( 2,975,869)
			_______		_______
Shareholders deficit			( 3,682,309)		( 2,975,868)
			_______		_______

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

Directors responsibilities:

- 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;

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

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 05 September 2025 , and are signed on behalf of the board by:

Mr Etan Jonathan Ilfeld

Director

Company registration number: 09171151

Watkins Media Limited

Notes to the financial statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in England and wales. The address of the registered office is Unit 11, Shepperton House, 89 Shepperton Road, London, N1 3DF.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The directors have prepared these financial statements on going concern basis which requires the directors to have reasonable expectation that the company has adequate resources to continue in the operational existence for the forseeable future.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Goodwill

Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:


Goodwill	-	Estimated useful economic life of 10 Years

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:


Fittings fixtures and equipment	-	20% Reducing balance basis

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised initially at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 41 (2023: 37 ).

5. Intangible assets

	Goodwill	Total
	£	£
Cost
At 1 January 2024 and 31 December 2024	516,924	516,924
	_______	_______
Amortisation
At 1 January 2024	459,728	459,728
Charge for the year	51,692	51,692
	_______	_______
At 31 December 2024	511,420	511,420
	_______	_______
Carrying amount
At 31 December 2024	5,504	5,504
	_______	_______
At 31 December 2023	57,196	57,196
	_______	_______

6. Tangible assets

	Fixtures, fittings and equipment	Total
	£	£
Cost
At 1 January 2024	130,371	130,371
Additions	69,334	69,334
	_______	_______
At 31 December 2024	199,705	199,705
	_______	_______
Depreciation
At 1 January 2024	87,303	87,303
Charge for the year	22,485	22,485
	_______	_______
At 31 December 2024	109,788	109,788
	_______	_______
Carrying amount
At 31 December 2024	89,917	89,917
	_______	_______
At 31 December 2023	43,068	43,068
	_______	_______

7. Debtors

	2024	2023
	£	£
Trade debtors	1,989,474	1,772,771
Amounts owed by group undertakings and undertakings in which the company has a participating interest	136,630	136,630
Other debtors	76,247	69,912
	_______	_______
	2,202,351	1,979,313
	_______	_______

8. Creditors: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	756,270	644,691
Social security and other taxes	26,735	30,613
Other creditors	7,184,343	6,010,905
	_______	_______
	7,967,348	6,686,209
	_______	_______

9. Directors advances, credits and guarantees

	During the year the directors entered into the following advances and credits with the company:

2024
		Balance brought forward	Advances /(credits) to the directors	Balance o/standing
		£	£	£
	Mr Etan Jonathan Ilfeld	( 5,643,001)	( 1,168,500)	( 6,811,501)
		_______	_______	_______

2023
		Balance brought forward	Advances /(credits) to the directors	Balance o/standing
		£	£	£
	Mr Etan Jonathan Ilfeld	( 5,103,001)	( 540,000)	( 5,643,001)
		_______	_______	_______

10. Controlling party

The company is a wholly owned subsidary of Tendertheory Limited, a company registered in England & Wales.

11. Going Concern

There was a net deficiency of assets at the period end however the directors have confirmed continued support for the forseeable future.