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Registered number:
FOR THE YEAR ENDED 31 DECEMBER 2024
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WASSERMAN EXPERIENCE LIMITED
COMPANY INFORMATION
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WASSERMAN EXPERIENCE LIMITED
CONTENTS
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WASSERMAN EXPERIENCE LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The directors, in preparing this Strategic report, have complied with Section 414C of the Companies Act 2006.
Wasserman Experience Limited is an award-winning and globally renowned Experiential Agency based in London. The Company fuses insight, ideas, and innovation to create unforgettable campaigns, events, partnerships, digital experiences, and content for brands and rights holders to connect them with the audiences they need.
The Company continues to be at the forefront of industry moves to improve sustainability and CSR initiatives, remaining alone in holding eight audited and accredited ISO certificates across quality, sustainability, data security, DEI and more. The company continues to lead the charge on sustainability and DEI and now sits on three Industry association Councils. The company has continued to build from the sustainability initiative at the end of 2022 where commitment was made to a formal measurement framework, built off global recognised Science-Based Targets, to meet the company’s net zero ambitions by 2030. Initiatives such as measurable employee pledges, guiding clients to measure their campaigns as part of their own net zero targets and speaking on various industry panels in front of hundreds of peers are just some of the examples that have been seen in 2024. The Company continues to concentrate its efforts on alignment with its parent company and integration with the services they specialise in (including commercial consulting, sport and entertainment partnerships and insight and measurement), to offer a stronger and more integrated service for clients. This extends to collaboration and cross-servicing clients with additional Wasserman offices in Europe, the US and further afield. Increased billings in these areas have been witnessed as the collaboration have borne fruit. A focus on the Middle East (including Saudi Arabia) in yielded strong results and this focus will continue moving into 2025 and beyond, as the strength of client spend in this region from sport and entertainment increases. In addition, best practises continue to expand into wider-groups and acquisitions as part of the Centre of Excellent (COE) program to ensure that the wider business benefits and that synergies and competitive advantage are created. These efforts continue to yield positive results as regards diversification and mitigation of risk as the market ebbs and flows with trends in demand. The business continues to focus on operating efficiencies which benefit both the Company and clients alike, along with the further development of existing and new relationships. The company continues to experience a strong return of live events and continues to balance and maintain its resources and relevant expertise, alongside digital, creative, and content output. Due to the continued strengthening in the live events area, the company has concentrated on ensuring that the resource mix is correct and appropriate to allow it to remain nimble whilst at the same time keeping overheads in check.
The Company’s activities do not expose it to any significant financial risks. The Company currently has no bank loans and only limited exposure to foreign exchange risk as most transactions are in Sterling. If the transactions are not in sterling, they are hedged by sales and purchase transactions being denominated in the same currency.
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WASSERMAN EXPERIENCE LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
The company made a loss on activities after tax for the year of £109,380 (2023: £515,054 - profit) and has net current liabilities of £958,642 (2023: £1,232,922). The directors have reviewed the company's budgets and forecasts for the foreseeable future, its liquid resources and medium term plans. The company and group continue to have financial support available from its parent, Wasserman Media Group LLC, for a period of at least 12 months from the signing of these accounts, which has been confirmed in writing and legally binding. As a result the annual financial statements have thus been prepared on a going concern basis.
The Company’s activities can introduce the financial risks of changes in foreign currency and on occasion unfavourable client payment terms. However, the quality of receivables balances are high, with long standing client relationships. The Company trades in multiple currencies, however most projects effectively self-hedge as income and costs are mostly incurred in the same currency. The risk is therefore considered to be minimal.
The Group’s principal financial assets are bank balances and cash, trade and other receivables, and investments. The Group’s credit risk is primarily attributable to its trade receivables. The amounts presented in the balance sheet are net allowances for doubtful receivables. An allowance for impairment is made where there is an identified loss event which, based on previous experience, is evidence of a reduction in the ability to recover the cash flows.
A number of Key Performance Indicators (KPIs) are used by the Company in managing and monitoring business performance. Financial KPIs include turnover, margins and overall profitability. Key performance indicators used for management of the Company are turnover and gross profit. Turnover in 2024 of £22,925,947 (2023: £24,105,721) resulted in supporting gross profit increase to £2,826,708 (2023: £2,717,098). The directors are confident that the KPI’s achieved to date are an accurate reflection of the underlying strength of the business.
This report was approved by the board on 30 September 2025 and signed on its behalf.
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WASSERMAN EXPERIENCE LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The directors present their report and the financial statements for the year ended 31 December 2024.
The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 101 ‘Reduced Disclosure Framework’. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.
In preparing these financial statements, the directors are 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.
In Addition, the company actively seeks cooperation with other Wasserman Group companies where synergies and relationships with existing Wasserman clients can be further developed. The company's core services of marketing services include, but are not imited to, the following: - Brand, Campaign and Creative Strategy, - Measurement, Research, and Insight. - Greative & Design. - Digital & Technology. - Project Management. - Account Management. - Hospitality. - Event Production. - Show Production. - Content Production. - Warehousing, Logisties and Staffing. - Principal risks and uncertainties.
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WASSERMAN EXPERIENCE LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
The loss for the year, after taxation, amounted to £109,380 (2023 - profit £515,054).
The directors do not recommend the payment of a dividend for the year ending 31 December 2024 (2023: £Nil).
The directors who served during the year were:
Applications for employment by disabled persons are always fully considered, bearing in mind the abilities of the applicant concerned. In the event of members of staff becoming disabled every effort is made to ensure that their employment with the group continues and that appropriate training is arranged. It is the policy of the group and the company that the training, career development and promotion of disabled persons should, as far as possible, be identical to that of other employees.
The group places considerable value on the involvement of its employees and has continued to keep them informed on matters affecting them as employees and on the various factors affecting the performance of the group and the company. This is achieved through formal and informal meetings and company training and ERP systems.
There are qualifying third party indemnity provisions in place.
There have been no significant events affecting the Company since the year end.
This report was approved by the board on
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WASSERMAN EXPERIENCE LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF WASSERMAN EXPERIENCE LIMITED
We have audited the financial statements of Wasserman Experience Limited (the 'Company') for the year ended 31 December 2024, which comprise the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity 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 Financial Reporting Standard 101 ‘Reduced Disclosure Framework’ (United Kingdom Generally Accepted Accounting Practice).
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 Auditors' 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 United Kingdom, including the Financial Reporting Council'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.
In auditing the financial statements, we have concluded that the directors' 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 directors with respect to going concern are described in the relevant sections of this report.
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WASSERMAN EXPERIENCE LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF WASSERMAN EXPERIENCE LIMITED (CONTINUED)
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The directors are responsible for the other information contained within the Annual Report. 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. 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 course of 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 this gives rise to a material misstatement in the financial statements themselves. 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.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.
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 Strategic Report or the Directors' Report.
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WASSERMAN EXPERIENCE LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF WASSERMAN EXPERIENCE LIMITED (CONTINUED)
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 Auditors' 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:
[Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud.]
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' 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 Auditors' 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.
for and on behalf of
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WASSERMAN EXPERIENCE LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2024
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WASSERMAN EXPERIENCE LIMITED
REGISTERED NUMBER: 04996976
BALANCE SHEET
AS AT 31 DECEMBER 2024
The financial statements were approved and authorised for issue by the board and were signed on its behalf on
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WASSERMAN EXPERIENCE LIMITED
REGISTERED NUMBER: 04996976
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024
The notes on pages 12 to 28 form part of these financial statements.
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WASSERMAN EXPERIENCE LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023
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WASSERMAN EXPERIENCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Wasserman Experience Limited (the "Company") is a private company limited by shares & incorporated in England and Wales. Its registered head office is located at 7th Floor, Aldwych House, 71-91 Aldwych, London, WC2B 4HN.
2.Accounting policies
The preparation of financial statements in compliance with FRS 101 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).
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WASSERMAN EXPERIENCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
The Company has taken advantage of the following disclosure exemptions under FRS 101:
∙the requirements of paragraphs 45(b) and 46-52 of IFRS 2 Share-based payment
∙the requirements of paragraphs 62, B64(d), B64(e), B64(g), B64(h), B64(j) to B64(m), B64(n)(ii), B64(o)(ii), B64(p), B64(q)(ii), B66 and B67 of IFRS 3 Business Combinations
∙the requirements of paragraph 33(c) of IFRS 5 Non Current Assets Held For Sale and Discontinued Operations
∙the requirement of paragraph 24(b) of IFRS 6 Exploration for and Evaluation of Mineral Resources to disclose the operating and investing cash flows arising from the exploration for and evaluation of mineral resources
∙the requirements of IFRS 7 Financial Instruments: Disclosures
∙the requirements of paragraphs 91-99 of IFRS 13 Fair Value Measurement
∙the requirements of the second sentence of paragraph 110 and paragraphs 113(a), 114, 115, 118, 119(a) to (c), 120 to 127 and 129 of IFRS 15 Revenue from Contracts with Customers
∙the requirements of paragraph 52, the second sentence of paragraph 89, and paragraphs 90, 91 and 93 of IFRS 16 Leases. The requirements of paragraph 58 of IFRS 16, provided that the disclosure of details in indebtedness relating to amounts payable after 5 years required by company law is presented separately for lease liabilities and other liabilities, and in total
∙the requirement in paragraph 38 of IAS 1 'Presentation of Financial Statements' to present comparative information in respect of:
- paragraph 79(a)(iv) of IAS 1;
- paragraph 73(e) of IAS 16 Property, Plant and Equipment;
- paragraph 118(e) of IAS 38 Intangible Assets;
- paragraphs 76 and 79(d) of IAS 40 Investment Property; and
- paragraph 50 of IAS 41 Agriculture
∙the requirements of paragraphs 10(d), 10(f), 16, 38A, 38B, 38C, 38D, 40A, 40B, 40C, 40D, 111 and 134-136 of IAS 1 Presentation of Financial Statements
∙the requirements of IAS 7 Statement of Cash Flows
∙the requirements of paragraph 74A(b) of IAS 16
∙the requirements of paragraph 17 and 18A of IAS 24 Related Party Disclosures
∙the requirements in IAS 24 Related Party Disclosures to disclose related party transactions entered into between two or more members of a group, provided that any subsidiary which is a party to the transaction is wholly owned by such a member
∙the requirements of paragraphs 130(f)(ii), 130(f)(iii), 134(d)-134(f) and 135(c)-135(e) of IAS 36 Impairment of Assets.
∙the requirements of paragraph 88C and 88D of IAS 12 Income Taxes.
This information is included in the consolidated financial statements of WMG Management Europe Ltd as at 31 December 2024 and these financial statements may be obtained from 7th Floor,
Aldwych House, 71-91 Aldwych, London, WC2B 4HN.
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WASSERMAN EXPERIENCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
The company made a loss on activities after tax for the year of £109,380 (2023: £515,054 - profit) and has net current liabilities of £958,642 (2023: £1,232,922). The directors have reviewed the company's budgets and forecasts for the foreseeable future, its liquid resources and medium term plans. The company and group continue to have financial support available from its parent, Wasserman Media Group LLC, for a period of at least 12 months from the signing of these accounts, which has been confirmed in writing and legally binding. As a result the annual financial statements have thus been prepared on a going concern basis.
Functional and presentation currency
Transactions and balances
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WASSERMAN EXPERIENCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
Where revenue is variable, recognition is constrained to the extent that it is highly probable that a significant reversal of revenue already recognised will not occur once the uncertainty is subsequently resolved. Revenue is measured at the fair value of the consideration received or receivable and comprises the gross amounts billed to clients in respect of fees earned, expenses recharged, and commission-based income. Revenue is stated exclusive of VAT, sales taxes, and trade discounts. Revenue is largely derived from the rendering of services performed under specific contractual agreements. Revenue is recognised over the contract term in proportion to the progress made in satisfying the performance obligations, measured by costs incurred to date relative to total estimated contract costs. Revenue relating to specific events is recognised at a point in time, when the performance obligation in the contract has been fulfilled. Contractual arrangements are reviewed to determine whether the Company acts as principal or as agent in respect of third-party costs. Where the Company acts as agent, only the commission element, together with any amounts charged net of corresponding subcontractor costs, is recognised as revenue.
Rentals under operating leases are charged to the Profit and Loss account on a straight line basis over the lease term.
Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight line basis over the period until the date the rent is expected to be adjusted to the prevailing market rate.
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WASSERMAN EXPERIENCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
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WASSERMAN EXPERIENCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
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WASSERMAN EXPERIENCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
The Company recognises financial instruments when it becomes a party to the contractual arrangements of the instrument. Financial instruments are de-recognised when they are discharged or when the contractual terms expire. The Company's accounting policies in respect of financial instruments transactions are explained below:
Financial assets and financial liabilities are initially measured at fair value.
Financial assets
All recognised financial assets are subsequently measured in their entirety at either fair value or amortised cost, depending on the classification of the financial assets.
Fair value through profit or loss
Impairment of financial assets
Financial liabilities
Fair value through profit or loss
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WASSERMAN EXPERIENCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
At amortised cost
Impairment of investments Management assess whether there are indicators of impairment on an annual basis. Where there are indicators of impairment of individual assets, management estimate the recoverable amount of each asset based on expected future cash flows and use an appropriate interest rate to discount them. Estimation uncertainty relates to assumptions about future operating results and the determination of a suitable discount rate. See note 12. Loans and receivables Management assess the recoverability of loans, trade debtors and other receivable balances and record a provision to the extent that the balances are not considered recoverable. See note 13.
Analysis of turnover by country of destination:
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WASSERMAN EXPERIENCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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WASSERMAN EXPERIENCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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WASSERMAN EXPERIENCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
10.Taxation (continued)
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WASSERMAN EXPERIENCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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WASSERMAN EXPERIENCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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WASSERMAN EXPERIENCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
13.Debtors (continued)
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WASSERMAN EXPERIENCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
The following amounts in respect of leases, where the Company is a lessee, have been recognised in profit or loss:
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WASSERMAN EXPERIENCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Share premium account
of shares are deducted from share premium.
Profit and loss account
The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independent administered fund. The pension cost charge represents contributions paid by the company to the fund and amounted to £214,696 (2023: £220,104). Contributions totalling £Nil (2023: Nil) were payable to the refund at the reporting date.
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WASSERMAN EXPERIENCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
The ultimate parent company of Wasserman Experience Limited is Wasserman Media Group LLC, a company registered in Delaware in the United States of America. WMG Management Europe Limited, a company registered in England and Wales, is the immediate parent company of Wasserman Experience Limited.
The parent undertaking of the largest group which includes the company for which group financial statements are prepared is Wasserman Media Group LLC. The parent undertaking of the smallest group is WMG Management Europe Limited. Copies of the WMG Management Europe Limited group financial statements may be obtained from 7th Floor Aldwych House, 71-91 Aldwych, London, England WC2B 4HN.
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