Registration number: 11417244

NME Networks Media Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Financial Statements	3 to 9

NME Networks Media Limited

Company Information

Directors

Meng Ru Kuok Yiming Ivan Chen

Registered office

The Portland Building 27-28 Church Street Brighton East Sussex, United Kingdom BN1 1RB

Auditors

Carbon Accountancy Limited Chartered Accountants and Statutory Auditors80-83 Long Lane London EC1A 9ET

NME Networks Media Limited

(Registration number: 11417244)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Intangible assets	4	57,568	906,671
Tangible assets	5	13,357	23,422
		70,925	930,093
Current assets
Stocks	6	39,787	1,158
Debtors	7	943,636	1,581,894
Cash at bank and in hand		123,397	597,631
		1,106,820	2,180,683
Creditors: Amounts falling due within one year	8	(13,967,499)	(14,320,421)
Net current liabilities		(12,860,679)	(12,139,738)
Net liabilities		(12,789,754)	(11,209,645)
Capital and reserves
Called up share capital	9	1	1
Retained earnings		(12,789,755)	(11,209,646)
Shareholders' deficit		(12,789,754)	(11,209,645)

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 8 December 2025 and signed on its behalf by:
 

......................................... Yiming Ivan Chen Director

NME Networks Media Limited

Notes to the 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:
The Portland Building
27-28 Church Street
Brighton
East Sussex, United Kingdom
BN1 1RB
 

These financial statements were authorised for issue by the Board on 8 December 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 except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The Company incurred losses of £1,580,109 (2023: £700,223) and has net liabilities of £12,789,754 (2023: £11,209,645) including amounts owed to group companies of £13,612,746 (2023: £13,474,917). The directors of the Company are confident that the performance of the Company will be significantly improved when the Vompany starts full operations in the next financial year. The Company will also be supported by its immediate parent company, Caldecott Music Group, for a period of at least 12 months after the approval of the financial statements to enable the Company to meet its obligations as and when they fall due. Therefore, the directors have concluded that the Company will be able to continue trade and is a going concern.

NME Networks Media Limited

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

Audit report

The Independent Auditor's Report was unqualified.

The name of the Senior Statutory Auditor who signed the audit report on 8 December 2025 was John Leyden, who signed for and on behalf of Carbon Accountancy Limited.

.........................................

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. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The Company recognises revenue when:
- The amount of revenue can be reliably measured;
- it is probable that future economic benefits will flow to the entity;
- and specific criteria have been met for each 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.

Tangible assets

Tangible assets are stated in the balance sheet 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
Fixtures and fittings	33% straightline basis
Office equipment	33% straightline basis
Plant and machinery	33% straightline basis

NME Networks Media Limited

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

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the Company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.

Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Intellectual Properties	over 5 years
Magazine acquisitions	over 5 years

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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.

NME Networks Media Limited

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

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

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. Accounts payable 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.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3	Staff numbers

The average number of persons employed by the Company (including directors) during the year, was 23 (2023 - 28).

NME Networks Media Limited

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

4	Intangible assets

	Magazine acquisitions  £	Intellectual Properties  £	Total £
Cost or valuation
At 1 January 2024	7,502,854	648,343	8,151,197
At 31 December 2024	7,502,854	648,343	8,151,197
Amortisation
At 1 January 2024	6,783,416	461,110	7,244,526
Amortisation charge	719,438	129,665	849,103
At 31 December 2024	7,502,854	590,775	8,093,629
Carrying amount
At 31 December 2024	-	57,568	57,568
At 31 December 2023	719,438	187,233	906,671

5	Tangible assets

	Furniture, fittings and equipment  £	Computer equipment £	Total £
Cost or valuation
At 1 January 2024	3,912	66,073	69,985
Additions	-	1,832	1,832
Disposals	(488)	(3,936)	(4,424)
At 31 December 2024	3,424	63,969	67,393
Depreciation
At 1 January 2024	1,165	45,398	46,563
Charge for the year	1,149	10,190	11,339
Eliminated on disposal	(298)	(3,568)	(3,866)
At 31 December 2024	2,016	52,020	54,036
Carrying amount
At 31 December 2024	1,408	11,949	13,357
At 31 December 2023	2,747	20,675	23,422

NME Networks Media Limited

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

6

Stocks

	2024 £	2023 £
Other inventories	39,787	1,158

7

Debtors

Current	Note	2024 £	2023 £
Trade debtors		666,460	767,545
Amounts owed by group undertakings	10	43,198	28,854
Prepayments		30,762	87,356
Other debtors		203,216	498,139
		943,636	1,381,894

Non-current	2024 £	2023 £
Other debtors	-	200,000
	-	200,000

8

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	2023 £
Due within one year
Trade creditors		58,510	80,076
Amounts owed to group undertakings	10	13,612,746	13,474,917
Taxation and social security		63,090	74,224
Accruals and deferred income		221,757	675,420
Other creditors		11,396	15,784
		13,967,499	14,320,421

NME Networks Media Limited

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

9	Share capital

Allotted, called up and fully paid shares

	2024		2023
	No.	£	No.	£
Ordinary shares of £0.01 each	100	1	100	1

10	Related party transactions

The Company has taken advantage of the exemption contained in FRS 102 Para 33.1A and has not reported transactions with group companies which were concluded under normal market conditions.

11	Parent and ultimate parent undertaking

The Company's immediate parent is Caldecott Music Group, incorporated in the Cayman Islands.
 The ultimate parent is Hot Spots Holdings Limited, incorporated in the British Virgin Islands.