Aeon Media Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

Aeon Media Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07920160 . The registered office is The Fisheries, 1 Mentmore Terrace, London, E8 3PN.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

These financial statements have been prepared in accordance with FRS 102,Section 1A “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 the 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.

2.2. Going Concern Disclosure

The company is dependent on the continued support of one of the directors who has confirmed that he will

not seek repayment of the amounts due until the company is financially able to repay the amount due.

Based on this, the accounts have been prepared on a going concern basis, which the directors believe to

be appropriate.

2.3. Turnover

Turnover represents income arising from the provision of editorial services connected to digital

publishing.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Fixtures & Fittings	Straight Line 3 years
Computer Equipment	Straight Line 3 years

2.5. Leasing and Hire Purchase Contracts

Rentals payable under operating leases, including any lease incentives received, are charged to income on

a straight line basis over the term of the relevant lease except where another more systematic basis is

more representative of the time pattern in which economic benefits from the lease asset are consumed.

2.6. Financial Instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section

12 ‘Other Financial Instruments Issues’ of FRS 102 ,Section 1A to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at

transaction price including transaction costs and are subsequently carried at amortised cost using the

effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual

arrangements entered into. An equity instrument is any contract that evidences a residual interest in the

assets of the company after deducting all of its liabilities.

Basic financial liabilities

...CONTINUED

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Aeon Media Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.6. Financial Instruments - continued

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

2.7. Foreign Currencies

Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2.8. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

2.9. 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.

2.10. Cash at bank and in hand

Cash at bank and in hand 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.

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Aeon Media Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.11. Employee benefits & Retirement benefits

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.

Retirement benefits

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

3. Average Number of Employees

Average number of employees, including directors, during the year was: 8 (2023: 6)

4. Tangible Assets

	Fixtures & Fittings	Computer Equipment	Total
	£	£	£
Cost
As at 1 January 2024	3,159	12,003	15,162
Additions	583	5,021	5,604

As at 31 December 2024	3,742	17,024	20,766

Depreciation
As at 1 January 2024	1,389	10,442	11,831
Provided during the period	513	2,562	3,075

As at 31 December 2024	1,902	13,004	14,906

Net Book Value
As at 31 December 2024	1,840	4,020	5,860

As at 1 January 2024	1,770	1,561	3,331

5. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	-	72
Prepayments and accrued income	439	374
Other debtors	7,682	5,521

	8,121	5,967

6. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Corporation tax	-	702
Other creditors	89,538	76,775

	89,538	77,477

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Aeon Media Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

7. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	200	200

8. Related Party Transactions

Transactions with related parties

The company provides editorial services to Aeon Media Group Limited, which is an Australian

registered charity for whom the directors are founding members. During the year income of £ 522,035 (2023-

£ 372,489) arose from this source.

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		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		5,860		3,331

			5,860		3,331
CURRENT ASSETS
Debtors	5	8,121		5,967
Cash at bank and in hand		79,130		71,281

		87,251		77,248
Creditors: Amounts Falling Due Within One Year	6	(89,538 )		(77,477 )

NET CURRENT ASSETS (LIABILITIES)			(2,287 )		(229 )

TOTAL ASSETS LESS CURRENT LIABILITIES			3,573		3,102

PROVISIONS FOR LIABILITIES
Deferred Taxation			(1,113 )		(633 )

NET ASSETS			2,460		2,469

CAPITAL AND RESERVES
Called up share capital	7		200		200
Profit and Loss Account			2,260		2,269

SHAREHOLDERS' FUNDS			2,460		2,469