Registration number: 03883572

First Media Solutions Limited

Contents

Balance Sheet	1
Notes to the Unaudited Financial Statements	2 to 6

First Media Solutions Limited

(Registration number: 03883572)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	386,305	404,778
Current assets
Debtors	5	270,895	293,395
Cash at bank and in hand		210,033	172,296
		480,928	465,691
Creditors: Amounts falling due within one year	6	(392,772)	(355,542)
Net current assets		88,156	110,149
Total assets less current liabilities		474,461	514,927
Creditors: Amounts falling due after more than one year	6	(207,697)	(214,771)
Provisions for liabilities		(4,864)	(6,244)
Net assets		261,900	293,912
Capital and reserves
Called up share capital		1,000	1,000
Retained earnings		260,900	292,912
Shareholders' funds		261,900	293,912

For the financial 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 accounts for the year in question in accordance with section 476; and
•	The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 26 September 2025 and signed on its behalf by:
 

......................................... I J Hargreaves Director

First Media Solutions Limited

Notes to the Unaudited 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:
25 Nottingham Road
Fairfield Industrial Estate
Louth
Lincolnshire
LN11 0WB

These financial statements were authorised for issue by the Board on 26 September 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

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.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented for the individual entity, have been prepared in sterling and are rounded to the nearest pound.

Going concern

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

First Media Solutions Limited

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

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and machinery	20% or 33% straight line basis
Fixtures and fittings	33% straight line basis
Property	10% straight line basis
Motor vehicles	25% reducing balance basis

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.

Stocks

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

First Media Solutions Limited

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

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease. Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Share capital

Ordinary shares are classified as equity.

Dividends

Dividend distribution to the Company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

The company contributes into the personal pension plans of certain employees and directors in line with government legislation.

3	Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 14 (2023 - 14).

4	Tangible assets

	Land and buildings £	Furniture, fittings and equipment  £	Motor vehicles  £	Total £
Cost or valuation
At 1 January 2024	503,128	249,926	52,766	805,820
Additions	-	2,940	1,825	4,765
At 31 December 2024	503,128	252,866	54,591	810,585
Depreciation
At 1 January 2024	128,101	243,048	29,893	401,042
Charge for the year	12,480	4,573	6,185	23,238
At 31 December 2024	140,581	247,621	36,078	424,280
Carrying amount
At 31 December 2024	362,547	5,245	18,513	386,305
At 31 December 2023	375,027	6,878	22,873	404,778

Included within the net book value of land and buildings above is £362,547 (2023 - £375,027) in respect of freehold land and buildings.
 

First Media Solutions Limited

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

5

Debtors

Current	2024 £	2023 £
Trade debtors	182,693	234,841
Prepayments	11,348	34,189
Other debtors	76,854	24,365
	270,895	293,395

6

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	2023 £
Due within one year
Loans and borrowings		9,009	8,000
Trade creditors		11,427	34,529
Amounts owed to Company undertakings and undertakings in which the Company has a participating interest	7	24,860	24,860
Taxation and social security		104,082	99,990
Accruals and deferred income		3,575	3,375
Other creditors		239,819	184,788
		392,772	355,542

Creditors: amounts falling due after more than one year

	Note	2024 £	2023 £
Due after one year
Loans and borrowings		207,697	214,771

First Media Solutions Limited

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

7	Related party transactions

Transactions with Directors

The below advance had no fixed repayment date and was unsecured. Interest was not charged.

2024	At 1 January 2024 £	Repayments by Director £	At 31 December 2024 £
S Traill
Directors Current Account	5,705	(5,705)	-

2023	At 1 January 2023 £	Advances to Director £	Repayments by Director £	At 31 December 2023 £
S Traill
Directors Current Account	(3,278)	16,316	(7,333)	5,705

8	Parent and ultimate parent undertaking

The Company's immediate parent is First Media (Holdings) Limited, incorporated in England and Wales.

 The ultimate controlling party is I J Hargreaves.