Registration number: 15644396

Virtually Media Limited

Contents

Balance Sheet	1
Notes to the Unaudited Financial Statements	2 to 5

Virtually Media Limited

(Registration number: 15644396)
Balance Sheet as at 30 June 2025

	Note	2025 €
Current assets
Debtors	4	1,071,730
Cash at bank and in hand		807,493
		1,879,223
Creditors: Amounts falling due within one year	5	(2,995,874)
Net liabilities		(1,116,651)
Capital and reserves
Called up share capital	6	1
Retained earnings		(1,116,652)
Shareholders' deficit		(1,116,651)

For the financial period ending 30 June 2025 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 period 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 8 January 2026 and signed on its behalf by:
 

......................................... Mr Andrea Radrizzani Director

Virtually Media Limited

Notes to the Unaudited Financial Statements for the Period from 14 April 2024 to 30 June 2025

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:
3 Cavendish Square
London
W1G 0LB
England

These financial statements were authorised for issue by the Board on 8 January 2026.

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 directors have prepared the financial statements on a going concern basis. The company incurred a loss for the period and, at the balance sheet date, had net liabilities of €1,116,651.

The directors have considered the company’s reliance on ongoing financial support from its parent undertaking and other related parties. The directors have a reasonable expectation that such support will continue for the foreseeable future and that the company will be able to meet its liabilities as they fall due.

Accordingly, the directors consider it appropriate to prepare the financial statements on a going concern basis.

Revenue recognition

Turnover represents the fair value of the consideration received or receivable for the sale of advertising and media space and the provision of media and agency services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

Revenue is recognised when advertising or media space has been delivered and services have been performed, provided that the amount of revenue can be measured reliably and it is probable that the economic benefits associated with the transaction will flow to the company.

Where the company acts as principal in the sale of advertising or media rights, revenue is recognised at the gross amount invoiced, with related costs recognised as cost of sales.

Where the company acts as agent, revenue represents the commission earned and is recognised when the related service has been performed.

Virtually Media Limited

Notes to the Unaudited Financial Statements for the Period from 14 April 2024 to 30 June 2025

Cost of sales

Cost of sales comprises costs directly attributable to the generation of revenue, including the acquisition of advertising or media space for resale and directly related commissions and fees. These costs are recognised in the profit and loss account in the period in which the related revenue is recognised.

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.

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 in respect of advertising or media space sold and services performed in the ordinary course of business.

Trade debtors are initially recognised at the transaction price and subsequently measured at amortised cost, less any provision for impairment. A provision for impairment is recognised when there is objective evidence that the company will not be able to collect all amounts due in accordance with the original terms of the receivable.

Trade creditors

Trade creditors are obligations to pay for advertising or media space purchased and services received in the ordinary course of business from suppliers.

Trade creditors are initially recognised at the transaction price and subsequently measured at amortised cost. Trade creditors are classified as current liabilities unless the company has an unconditional right to defer settlement for at least twelve months after the reporting date.

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 period, was 1.

Virtually Media Limited

Notes to the Unaudited Financial Statements for the Period from 14 April 2024 to 30 June 2025

4

Debtors

Current	2025 €
Trade debtors	544,326
Amounts owed by related parties	324,032
Prepayments	107
Other debtors	203,265
	1,071,730

5

Creditors

Creditors: amounts falling due within one year

	Note	2025 €
Due within one year
Trade creditors		1,067,110
Amounts owed to group undertakings and undertakings in which the company has a participating interest	7	1,006,374
Accruals and deferred income		922,390
		2,995,874

6	Share capital

Allotted, called up and fully paid shares

	2025
	No.	€
Ordinary shares of €1 each	1	1

7	Related party transactions

Summary of transactions with parent

Virtually Media Holdings Limited
The company has claimed exemption under FRS 102 Section 1A from disclosing related party transactions with wholly-owned group undertakings.

At the balance sheet date, amounts owed to group undertakings totalled €1,006,374 (note 5). These balances relate to amounts payable to the company’s immediate parent undertaking, Virtually Media Holdings Limited, are unsecured, interest-free and repayable on demand.

Virtually Media Limited

Notes to the Unaudited Financial Statements for the Period from 14 April 2024 to 30 June 2025

8	Parent and ultimate parent undertaking

The company's immediate parent is Virtually Media Holdings Limited, incorporated in England and Wales.

 The ultimate parent is Aser Ventures Limited, incorporated in England and Wales.

 The ultimate controlling party is Mr Andrea Radrizzani.