Immedia Broadcast Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—7

1. General Information

Immedia Broadcast Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03873102 . The registered office is 7-9 The Broadway, Newbury, Berkshire, RG14 1AS.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

The financial statements have been prepared under historical cost convention.

2.2. Going Concern Disclosure

The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.

2.3. Turnover

Turnover represents the amounts receivable by the Company for the provision of its goods and services, excluding value added tax. Turnover from services comprises the broadcasting of live and as live radio programmes to customers' premises using appropriate technologies, together with the production of advertising content for use in those programmes. Turnover from these services is billed on time-based subscriptions and recognised as the performance obligation is fulfilled. Additionally, the creation of digital web and app designs , digital solutions for audio visual content, 3D, virtual reality and augmented reality content are all included in the services. Turnover from these services is billed and recognised on completion as that is when the performance obligation is met.

Turnover from equipment sales which includes delivery and configuration over time; turnover from content delivery and equipment maintenance services and hire services is billed on time-based subscriptions is recognised monthly on completion when the performance obligation is met.

To the extent that invoices are raised to a different pattern than revenue recognition described above, appropriate adjustments are made through contract assets and contract liabilities to account for turnover when the underlying service has been performed or goods have transferred to the customer.

2.4. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life.

Negative goodwill, which arises from a bargain purchase credit, is amortised in proportion to the lives of the intangible assets acquired.

2.5. Intangible Fixed Assets and Amortisation - Other Intangible

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Proprietary software 5 years

Brand 10 years

Content delivery 3 years

Customer contracts 3 to 4 years

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Immedia Broadcast Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.6. 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:

Leasehold	over the length of the property lease
Plant & Machinery	3 to 7 years
Fixtures & Fittings	3 to 10 years
Computer Equipment	3 to 5 years, or contract term if shorter

Any gain or loss arising from the disposal of tangible fixed assets is recognized in the profit and loss account.

2.7. Stocks and Work in Progress

Stocks include audio, screen and content delivery equipment and are measured at the lower of cost and net realisable value. In determining the cost of raw materials, consumables and goods purchased for resale, the historical purchase price is used. For work in progress and finished goods, cost is taken as production cost which includes an appropriate proportion of attributable overheads.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

2.8. 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 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.

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

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction.

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.

2.9. Foreign Currencies

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

Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction.

2.10. Pensions

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

2.11. 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.

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Immedia Broadcast Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.12. Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

2.13. Provisions

Provisions are recognised when the company has a legal or constructive present obligation as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation.

Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision is measured at present value, the unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 36 (2023: 36)

4. Intangible Assets

	Goodwill	Intellectual Property	Total
	£	£	£
Cost
As at 1 January 2024	11,253	314,740	325,993
Disposals	-	(225,605 )	(225,605 )

As at 31 December 2024	11,253	89,135	100,388

Amortisation
As at 1 January 2024	11,253	295,754	307,007
Impairment losses	-	4,795	4,795
Reversal of past impairments	-	(225,606 )	(225,606 )

As at 31 December 2024	11,253	74,943	86,196

Net Book Value
As at 31 December 2024	-	14,192	14,192

As at 1 January 2024	-	18,986	18,986

5. Tangible Assets

	Plant & Machinery	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£
Cost
As at 1 January 2024	587,727	481,839	19,820	1,089,386
Additions	8,333	-	-	8,333
Disposals	-	(3,751 )	-	(3,751 )

As at 31 December 2024	596,060	478,088	19,820	1,093,968

Depreciation
As at 1 January 2024	519,534	406,681	19,820	946,035
Provided during the period	44,432	32,168	-	76,600

As at 31 December 2024	563,966	438,849	19,820	1,022,635

...CONTINUED

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Immedia Broadcast Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

Net Book Value
As at 31 December 2024	32,094	39,239	-	71,333

As at 1 January 2024	68,193	75,158	-	143,351

6. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	334,591	464,309
Amounts owed by group undertakings	868,976	861,248
Other debtors	50,601	98,150

	1,254,168	1,423,707

7. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	341,605	283,191
Bank loans and overdrafts	397,483	340,867
Bank credit cards	16,881	9,277
Other creditors	598,805	685,659
Taxation and social security	316,711	184,715

	1,671,485	1,503,709

8. Creditors: Amounts Falling Due After More Than One Year

	2024	2023
	£	£
Bank loans	4,158	14,806

9. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	7,617	7,617

10. Contingent Liabilities

	2024	2023
	£	£
At the end of the period	70,000	70,000

Provision has been made for the estimated cost of reinstating the company's leasehold studios and offices in Newbury to their original state at the end of the current lease term.

11. Reserves

	Revaluation Reserve
	£
Surplus on revaluation	16,703

As at 31 December 2024	16,703

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Immedia Broadcast Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

12. Related Party Transactions

Guarantees in respect of the liabilities of the parent company

The company has enteredt into fixed and floating charges in respect of the bank borrowings of its parent company. At the year end the parent's borrowings were £142,583 (2023: £201,583).

13. Ultimate Parent Undertaking and Controlling Party

The company's immediate and ultimate parent undertaking is AVC Immedia Limited (13984846) . AVC Immedia Limited (13984846) was incorporated in England & Wales whos registered office is located at 7-9, The Broadway, Newbury, England, RG14 1AS .

In the opinion of the directors of the parent holding company, there is no ultimate controlling party as no member holds more than 50% of the voting rights of the company.

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		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		14,192		18,986
Tangible Assets	5		71,333		143,351

			85,525		162,337
CURRENT ASSETS
Stocks		109,541		137,953
Debtors	6	1,254,168		1,423,707
Cash at bank and in hand		-		16,350

		1,363,709		1,578,010
Creditors: Amounts Falling Due Within One Year	7	(1,671,485 )		(1,503,709 )

NET CURRENT ASSETS (LIABILITIES)			(307,776 )		74,301

TOTAL ASSETS LESS CURRENT LIABILITIES			(222,251 )		236,638

Creditors: Amounts Falling Due After More Than One Year	8		(4,158 )		(14,806 )

PROVISIONS FOR LIABILITIES
Provision for delapidations			(70,000 )		(70,000 )

NET (LIABILITIES)/ASSETS			(296,409 )		151,832

CAPITAL AND RESERVES
Called up share capital	9		7,617		7,617
Revaluation reserve	11		16,703		39,033
Profit and Loss Account			(320,729 )		105,182

SHAREHOLDERS' FUNDS			(296,409)		151,832