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Registered number: 06061415
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Amazing Media Group Limited
Financial statements
Information for filing with the registrar
31 December 2024
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Amazing Media Group Limited
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Balance sheet
At 31 December 2024
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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1
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Amazing Media Group Limited
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Balance sheet (continued)
At 31 December 2024
The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 30 September 2025.
Registered number: 06061415
The notes on pages 3 to 7 form part of these financial statements.
2
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Amazing Media Group Limited
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Notes to the financial statements
Year ended 31 December 2024
Amazing Media Group Limited ('the company') is a private company limited by shares, incorporated and domiciled in the United Kingdom and registered in England. The address of the registered office is Amazing Towers, Church Street, Gateshead, NE8 2AT.
2.Accounting policies
The financial statements have been prepared in accordance with Section 1A of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland' (FRS 102) and the Companies Act 2006.
The following principal accounting policies have been applied:
The company's principal activity is described in the directors report.
The directors have prepared cash flow forecasts for the coming period, taking into account expected trading cash flows and other cash requirements as the business continues to expand. The company continues to meet its day-to-day working capital requirements through financial support from shareholders. The directors expect this to continue for the foreseeable future.
Thus the directors have reasonable expectation at the time of approving the financial statements that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the company continue to adopt the going concern basis in preparing the financial statements.
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
The turnover shown in the profit and loss account represents the value of services delivered during the period, exclusive of Value Added Tax. Amounts invoiced are spread to match the delivery of service, with any timing difference between invoicing and revenue recognition presented as deferred or accrued income.
Research expenditure is written off as it is incurred and charged to the profit & loss account. Development expenditure is written off, except where there is a separate project that is technically, commercially and financially viable. In these cases, the expenditure is deferred and amortised over the period the company is expected to gain benefit.
3
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Amazing Media Group Limited
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Notes to the financial statements
Year ended 31 December 2024
2.Accounting policies (continued)
Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the statement of comprehensive income in the same period as the related expenditure.
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.
Intangible assets acquired as part of a business combination are recorded at the fair value at the acquisition date.
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:
Development cost - 5% straight line
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 are initially recorded at cost, and 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 equity, 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 equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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:
4
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Amazing Media Group Limited
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Notes to the financial statements
Year ended 31 December 2024
2.Accounting policies (continued)
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
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The average monthly number of employees, including directors, during the year was 1 (2023 -1).
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5
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Amazing Media Group Limited
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Notes to the financial statements
Year ended 31 December 2024
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Amounts owed by group undertakings
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6
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Amazing Media Group Limited
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Notes to the financial statements
Year ended 31 December 2024
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Creditors: amounts falling due within one year
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Other taxation and social security
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Accruals and deferred income
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The loan is secured by the way of a fixed and floating charge against the assets and intellectual property of the charging companies.
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Creditors: amounts falling due after more than one year
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The loan is secured by the way of a fixed and floating charge against the assets and intellectual property of the charging companies.
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Allotted, called up and fully paid
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111,807 (2023 -111,407) Ordinary shares of £0.01 each
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36,034 (2023 -36,034) Ordinary A shares of £0.01 each
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9,183 (2023 -9,183) A Convertible Preference shares of £0.01 each
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7
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