REGISTERED NUMBER: 07727617 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

SMI MEDIA LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Ms J E Schulze

Mr V D Mifsud

REGISTERED OFFICE:

Mwb Charing Cross, Golden Cross House

8 Duncannon Street

London

WC2N 4JF

REGISTERED NUMBER:

07727617 (England and Wales)

AUDITORS:

Xeinadin Audit Limited Chartered Accountants

Statutory Auditor

8th Floor, Becket House

36 Old Jewry

London

EC2R 8DD

FIXED ASSETS

Tangible assets

4

105

704

CURRENT ASSETS

Debtors

180,517

177,085

Cash at bank

344

4,072

180,861

181,157

CREDITORS

Amounts falling due within one year

3,861,340

3,737,475

NET CURRENT LIABILITIES

(3,680,479

)

(3,556,318

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(3,680,374

)

(3,555,614

)

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

(3,680,375

)

(3,555,615

)

(3,680,374

)

(3,555,614

)

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 December 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 December 2025 and were signed on its behalf by:

Mr V D Mifsud - Director

1.	STATUTORY INFORMATION

Smi Media Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern

The company made a loss for the year of £124,760 and has net liabilities of £3,680,374 at the balance sheet date. The parent undertaking has agreed to provide financial support to the company for the foreseeable future. The financial statements do not include any adjustment that would result from the withdrawal of the financial support.

The financial statements have been prepared on a going concern basis, as described in the Directors' Report. This assumes that sufficient funds will be available for the company to continue in operational existence for the foreseeable future.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment

-

Straight line over 4 years

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are classified and accounted for according to the substance of the contractual arrangement as financial assets, financial liabilities or equity instruments.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Debtors and creditors

Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

Long term debtors and creditors

Long term debtors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2024

and 31 December 2024

3,862

DEPRECIATION

At 1 January 2024

3,158

Charge for year

599

At 31 December 2024

3,757

NET BOOK VALUE

At 31 December 2024

105

At 31 December 2023

704

5.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mr Thurairatnam Sudarshan FCCA (Senior Statutory Auditor)

for and on behalf of Xeinadin Audit Limited Chartered Accountants

6.	CONTINGENT LIABILITIES

There were no contingent liabilities at either the beginning or the end of the financial year.

7.	CAPITAL COMMITMENTS

The company had no capital commitments at the current year or prior year balance sheet date.

8.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

9.	ULTIMATE CONTROLLING PARTY

The company's immediate parent undertaking is SMI Index Pty Limited, a company incorporated in Australia.

PC Dreamscape AUS Holdco Pty Limited, a company incorporated in Australia is the parent undertaking of the smallest group for which consolidated financial statements include the results of SMI Media Limited. The financial statements are available from Suite 5.01, Level 5, 50 Berry Street, North Sydney, NSW 2060, Australia.