Registrar

Registration number: 06280570

Globespan Media Ltd

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 7

Globespan Media Ltd

Company Information

Directors

D R Hill I Cunningham R Bates D A Smith

Company secretary

D R Hill

Registered office

128 City Road London EC1V 2NX

Bankers

National Westminster Bank PLC Chatham Customer Service Centre Western Avenue Chatham Maritime Chatham Kent ME4 4RT

Accountants

Lambert Chapman LLP Chartered accountants3 Warners Mill Silks Way Braintree Essex CM7 3GB

Globespan Media Ltd

(Registration number: 06280570)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	427	1,913
Current assets
Debtors	5	3,215,155	3,282,377
Cash at bank and in hand		420	2,425
		3,215,575	3,284,802
Creditors: Amounts falling due within one year	6	(2,029,561)	(2,010,604)
Net current assets		1,186,014	1,274,198
Total assets less current liabilities		1,186,441	1,276,111
Creditors: Amounts falling due after more than one year	6	(214,264)	(23,046)
Provisions for liabilities		(107)	(478)
Net assets		972,070	1,252,587
Capital and reserves
Called up share capital	7	52,290	52,290
Share premium reserve		188,110	188,110
Retained earnings		731,670	1,012,187
Shareholders' funds		972,070	1,252,587

For the financial year ended 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 30 September 2025 and signed on its behalf by:
 

D R Hill
Company secretary and director

Globespan Media Ltd

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 & Wales.

The address of its registered office and principle place of business is: 128 City Road, London, EC1V 2NX, England.

These financial statements were authorised for issue by the Board on 30 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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention.

These financial statements are presented in Sterling (£), which is the company's functional currency.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for tickets to award ceremonies and sale of housebuilding publications in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

Government grants

Government grants are assistance in the form of a transfer of resources to an entity in return for past or future compliance with specified conditions relating to the operating activities of the entity. Grants are recognised in the profit and loss account at the date they are received, under the performance model.

Tax

Current Tax is recognised in the profit and loss account, 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.

Deferred tax is recognised on temporary material 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 tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Tangible assets

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

Globespan Media Ltd

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

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Office Equipment	20% Straight line method

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

Trade debtors

Trade debtors are amounts due from customers for publications and tickets sold in the ordinary course of business.

Trade creditors

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

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.

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.

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

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Globespan Media Ltd

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

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 15 (2023 - 5).

4	Tangible assets

	Office equipment  £	Total £
Cost or valuation
At 1 January 2024	302,026	302,026
Disposals	(162,930)	(162,930)
At 31 December 2024	139,096	139,096
Depreciation
At 1 January 2024	300,113	300,113
Charge for the year	1,486	1,486
Eliminated on disposal	(162,930)	(162,930)
At 31 December 2024	138,669	138,669
Carrying amount
At 31 December 2024	427	427
At 31 December 2023	1,913	1,913

5

Debtors

	2024 £	2023 £
Trade debtors	566,137	588,485
Other debtors	2,543,915	2,307,885
Prepayments and accrued income	105,103	386,007
	3,215,155	3,282,377
Less non-current portion	(2,488,915)	(2,245,252)
	726,240	1,037,125

Included within other debtors is a loan to a related party totalling £2,488,915 (2023: £2,245,252).

Included within other debtors is a loan to a third party totalling £55,000 (2023: £55,000).

Globespan Media Ltd

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

6

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	2023 £
Due within one year
Trade creditors		605,722	585,062
Loans and borrowings	8	107,276	214,951
Taxation and social security		322,213	401,578
Other creditors		649,910	351,552
Accruals and deferred income		344,440	457,461
		2,029,561	2,010,604

Creditors include an invoice discounting facility which is secured to the value of £421,465 (2023 - £351,548).

Creditors: amounts falling due after more than one year

	Note	2024 £	2023 £
Due after one year
Loans and borrowings	8	214,264	23,046

7	Share capital

Allotted, called up and fully paid shares

	2024		2023
	No.	£	No.	£
Ordinary of £1 each	52,290	52,290	52,290	52,290

Globespan Media Ltd

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

8	Loans and borrowings

Current loans and borrowings

	2024 £	2023 £
Other borrowings	107,276	214,951

Non-current loans and borrowings

	2024 £	2023 £
Bank borrowings	214,264	23,046

9	Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £Nil (2023 - £9,660).