Madison Bell Limited Company accounts

COMPANY REGISTRATION NUMBER: 01209620

Madison Bell Limited

Financial Statements

31 January 2025

Madison Bell Limited

Financial Statements

Year ended 31 January 2025

Contents	Page

Officers and professional advisers	1

Director's report	2

Independent auditor's report to the members	4

Statement of income and retained earnings	8

Statement of financial position	9

Notes to the financial statements	10

Madison Bell Limited

Officers and Professional Advisers

Director	M N Poulton

Registered office	Portland House 3rd Floor
	Great Portland Street
	London
	England
	W1W 8QJ

Auditor	Moore Kingston Smith LLP
	Chartered accountants & statutory auditor
	10 Orange Street
	London
	United Kingdom
	WC2H 7DQ

Madison Bell Limited

Director's Report

Year ended 31 January 2025

The director presents his report and the financial statements of the company for the year ended 31 January 2025 .

Director

The director who served the company during the year was as follows:

M N Poulton

Director's responsibilities statement

The director is responsible for preparing the director's report and the financial statements in accordance with applicable law and regulations. Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period. In preparing these financial statements, the director is required to: - select suitable accounting policies and then apply them consistently; - make judgments and accounting estimates that are reasonable and prudent; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Auditor

Each of the persons who is a director at the date of approval of this report confirms that:

- so far as they are aware, there is no relevant audit information of which the company's auditor is unaware; and - they have taken all steps that they ought to have taken as a director to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information.

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

This report was approved by the board of directors on 30 October 2025 and signed on behalf of the board by:

M N Poulton
Director

Registered office:

Portland House 3rd Floor

Great Portland Street

London

England

W1W 8QJ

Madison Bell Limited

Independent Auditor's Report to the Members of Madison Bell Limited

Year ended 31 January 2025

Opinion

We have audited the financial statements of Madison Bell Limited (the 'company') for the year ended 31 January 2025 which comprise the statement of income and retained earnings, statement of financial position and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: - give a true and fair view of the state of the company's affairs as at 31 January 2025 and of its profit for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; - have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The director is responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

- the information given in the director's report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- the director's report has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the director's report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: - adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or - the financial statements are not in agreement with the accounting records and returns; or - certain disclosures of director's remuneration specified by law are not made; or - we have not received all the information and explanations we require for our audit; or - the director was not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the director's report and from the requirement to prepare a strategic report.

Responsibilities of the director

As explained more fully in the director's responsibilities statement, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: - We obtained an understanding of the Company's business, controls, legal and regulatory frameworks, laws and regulations and assessed the susceptibility of the Company's financial statements to material misstatement from irregularities, including fraud, are instances of non-compliance with laws and regulations. - Based on this understanding we designed our audit procedures to detecting irregularities, including fraud. Testing undertaken included making enquiries on the management; journal entry testing; review of bank audit letters, contractual agreements and any correspondence received from regulatory bodies; reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations. These procedures were designed to provide reasonable assurance that the financial statements were free from fraud or error. As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also: - Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. - Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control. - Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the director. - Conclude on the appropriateness of the director's use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the company to cease to continue as a going concern. - Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. Use of our report

This report is made solely to the company's members, as a body, in accordance with chapter 3 of part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Benjamin Bidnell

(Senior Statutory Auditor)

For and on behalf of

Moore Kingston Smith LLP

Chartered accountants & statutory auditor

10 Orange Street

London

United Kingdom

WC2H 7DQ

30 October 2025

Madison Bell Limited

Statement of Income and Retained Earnings

Year ended 31 January 2025

	2025	2024
Note	£	£
Turnover	995,610	935,921

Cost of sales	( 771,343)	( 728,672)
	---------	---------
Gross profit	224,267	207,249

Distribution costs	( 112)	( 411)
Administrative expenses	( 158,650)	( 216,619)
Other operating income	3,429	4,959
	---------	---------
Operating profit/(loss)	68,934	( 4,822)

	---------	---------
Profit/(loss) before taxation	68,934	( 4,822)

Tax on profit/(loss)	( 7,668)	–
	--------	-------
Profit/(loss) for the financial year and total comprehensive income	61,266	( 4,822)
	--------	-------

Dividends paid and payable	( 481,780)	–

Retained earnings at the start of the year	503,861	508,683
	---------	---------
Retained earnings at the end of the year	83,347	503,861
	---------	---------

All the activities of the company are from continuing operations.

Madison Bell Limited

Statement of Financial Position

31 January 2025

	2025		2024
Note	£	£	£

Current assets

Debtors	5	191,082	642,233
Cash at bank and in hand		139,353	83,330
		---------	---------
		330,435	725,563

Creditors: amounts falling due within one year	6	( 226,178)		( 200,792)
		---------		---------
Net current assets			104,257	524,771
			---------	---------
Total assets less current liabilities			104,257	524,771
			---------	---------
Net assets			104,257	524,771
			---------	---------

Capital and reserves

Called up share capital	20,000	20,000
Share premium account	910	910
Profit and loss account	83,347	503,861
	---------	---------
Shareholders funds	104,257	524,771
	---------	---------

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements were approved by the board of directors and authorised for issue on 30 October 2025 , and are signed on behalf of the board by:

M N Poulton
Director

Company registration number: 01209620

Madison Bell Limited

Notes to the Financial Statements

Year ended 31 January 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Portland House 3rd Floor, Great Portland Street, London, W1W 8QJ, England.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The company made a profit before tax of £68,934 (2024: £4,822 loss before tax) during the year and had net assets of £104,257 (2024: £524,771) at the balance sheet date. The directors have considered the basis of preparation of the financial statements and have concluded that it is appropriate to prepare these on the going concern basis based on forecasts for at least 12 months from signing of the financial statements.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for services rendered, net of discounts and Value Added Tax. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.

Taxation

Deferred taxation is provided for an a full provision basis on all timing differences which have arisen but not reversed at the balance sheet date. A deferred tax asset is not recognised to the extent that the transfer of economic benefit in future is uncertain. Any assets and liabilities recognised have not been discounted.

Financial instruments

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.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 4 (2024: 4 ).

5. Debtors

	2025	2024
	£	£
Trade debtors	190,481	151,564
Amounts owed by group undertakings	–	488,460
Other debtors	601	2,209
	---------	---------
	191,082	642,233
	---------	---------

6. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	155,248	112,167
Amounts owed to group undertakings	–	40,540
Corporation tax	7,668	–
Social security and other taxes	12,413	7,891
Other creditors	50,849	40,194
	---------	---------
	226,178	200,792
	---------	---------

7. Contingencies

Charges have been made against the Company in favour of the following party to secure their interests: Barclays Bank PLC

8. Related party transactions

The company has taken advantage of the exemption conferred by FRS 102 for subsidiaries which are wholly owned not to disclose intra-group transactions and balances with the parent company, whose consolidated accounts can be obtained from the parent company mentioned in note 10. During the year, professional fees amounting to £32,200 (2024: £28,000) were paid to Icing Child Media LLP, a company in which M N Poulton was a member.

9. Controlling party

The immediate and ultimate parent undertaking is Media Campaign Group Limited , a company registered in England and Wales. Accounts can be obtained from Portland House 3rd Floor, Great Portland Street, London, England, W1W 8QJ . In the opinion of the director, the ultimate controlling party is the Media Campaign Trustees Limited Employee Ownership Trust .