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Registration number: 14473385

Funds Europe Media Limited
Unaudited Filleted Financial Statements
for the Year Ended 31 December 2024

Funds Europe Media Limited

Contents

Company Information | 1
Balance Sheet | 2
Notes to the Unaudited Financial Statements | 3 to 8

Funds Europe Media Limited

Company Information

Directors | J Greenwood R Medina-Kempton

Registered office | 167-169 Great Portland Street 5th Floor London W1W 5PF

Funds Europe Media Limited

(Registration number: 14473385)
Balance Sheet as at 31 December 2024

| Note | 2024 £ | 2023 £
Fixed assets |  |  |
Intangible assets | 4 | 39,903 | 42,884
Tangible assets | 5 | 301 | -
|  | 40,204 | 42,884
Current assets |  |  |
Stocks | 6 | 7,556 | 28,000
Debtors | 7 | 384,647 | 486,163
Cash at bank and in hand |  | 299,599 | 76,913
|  | 691,802 | 591,076
Creditors: Amounts falling due within one year | 8 | (325,575) | (258,002)
Net current assets |  | 366,227 | 333,074
Net assets |  | 406,431 | 375,958
Capital and reserves |  |  |
Called up share capital | 9 | 100 | 100
Retained earnings |  | 406,331 | 375,858
Shareholders' funds |  | 406,431 | 375,958

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 4 December 2025 and signed on its behalf by:

......................................... J Greenwood Director | ......................................... R Medina-Kempton Director |

Funds Europe Media 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:
167-169 Great Portland Street
5th Floor
London
W1W 5PF
United Kingdom

These financial statements were authorised for issue by the Board on 4 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.

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 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.

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.

Funds Europe Media Limited

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, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Office equipment | 33% straight line per annum

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.

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
Goodwill | Fully amortised
Other intangibles | 6.5% straight line per annum

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.
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.

Funds Europe Media Limited

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

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.

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.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 7 (2023 - 9).

Funds Europe Media Limited

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

4 | Intangible assets

| Goodwill £ | Other intangible assets £ | Total £
Cost or valuation
At 1 January 2024 | 434,484 | 45,864 | 480,348
At 31 December 2024 | 434,484 | 45,864 | 480,348
Amortisation
At 1 January 2024 | 434,483 | 2,981 | 437,464
Amortisation charge | - | 2,981 | 2,981
At 31 December 2024 | 434,483 | 5,962 | 440,445
Carrying amount
At 31 December 2024 | 1 | 39,902 | 39,903
At 31 December 2023 | 1 | 42,883 | 42,884

5 | Tangible assets

| Furniture, fittings and equipment £ | Total £
Cost or valuation
Additions | 452 | 452
At 31 December 2024 | 452 | 452
Depreciation
Charge for the year | 151 | 151
At 31 December 2024 | 151 | 151
Carrying amount
At 31 December 2024 | 301 | 301

6 | Stocks

| 2024 £ | 2023 £
Work in progress | 7,556 | 28,000

Funds Europe Media Limited

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

7 | Debtors

Current | 2024 £ | 2023 £
Trade debtors | 372,439 | 486,162
Other debtors | 12,208 | 1
| 384,647 | 486,163

8 | Creditors

Creditors: amounts falling due within one year

| Note | 2024 £ | 2023 £
Due within one year |  |  |
Loans and borrowings | 10 | 118 | -
Trade creditors |  | 4,952 | 34,937
Taxation and social security |  | 101,157 | 71,164
Accruals and deferred income |  | 2,550 | 2,150
Other creditors |  | 216,798 | 149,751
|  | 325,575 | 258,002

9 | Share capital

Allotted, called up and fully paid shares

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

10 | Loans and borrowings

Current loans and borrowings

| 2024 £ | 2023 £
Bank overdrafts | 118 | -

Funds Europe Media Limited

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

11 | Related party transactions

Summary of transactions with parent

Punter Southall Aspire Limited (PSA)/Definite Article Media Limited (DAM)
Previous Parent and Ultimate Controlling Party/Current Parent and Ultimate Controlling Party
During the year the company incurred expense recharges totalling £nil (2023 - £163,976) from PSA. A loan account of £nil (2023 - £936,873) was written off during the period.
At the period end the company owed DAM £151,522 (2023 - £48,180).