Company No: 06637145 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTORS	A J Giles
	M W Turner
	D S Walsh

REGISTERED OFFICE	Waterloo Place
	Watson Square
	Stockport
	SK1 3AZ
	United Kingdom

COMPANY NUMBER

06637145 (England and Wales)

ACCOUNTANT	S&W Partners (Manchester) Limited
	Pall Mall
	1 Pollen Square
	59 King Street
	Manchester
	M2 4PD

	Note	2025		2024
		£		£
Fixed assets
Intangible assets	3	34,137		47,757
Investments	4	2,810,511		4,472,832
		2,844,648		4,520,589
Current assets
Debtors	5	583,420		515,109
Cash at bank and in hand	6	61,905		99,072
		645,325		614,181
Creditors: amounts falling due within one year	7	( 1,365,544)		( 3,219,295)
Net current liabilities		(720,219)		(2,605,114)
Total assets less current liabilities		2,124,429		1,915,475
Creditors: amounts falling due after more than one year	8	( 154,000)		( 184,000)
Net assets		1,970,429		1,731,475
Capital and reserves
Called-up share capital	9	315,790		315,790
Share premium account		134,215		134,215
Profit and loss account		1,520,424		1,281,470
Total shareholders' funds		1,970,429		1,731,475

For the financial year ending 31 December 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 financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Sleeper Media Limited (registered number: 06637145) were approved and authorised for issue by the Board of Directors on 28 May 2026. They were signed on its behalf by:

A J Giles Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Sleeper Media Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Waterloo Place, Watson Square, Stockport, SK1 3AZ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, including Section 1A of Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The functional currency of Sleeper Media Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.

These financial statements are separate financial statements.

Going concern

The company is dependent, in the absence of other funding, on the continued financial support from it's parent company. The parent company has confirmed its commitment to provide the necessary support by providing adequate facilities.
On that basis the directors consider it appropriate to prepare the financial statements on a going concern basis..

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise on monetary items.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Advertising revenue is recognised upon publication of the magazine.
Subscription revenue is recognised in full upon invoice.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on enacted or substantively enacted tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax assets are recognised only to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilised.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Goodwill	20 years straight line
Other intangible assets	6 years straight line

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of twenty years.

Other intangible assets

Brands have been amortised evenly over their estimated useful life of six years.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Fixed asset investments

Investments in subsidiary undertakings are stated at cost less any provision for impairment. The carrying value of subsidiary investments is reviewed annually by the directors to assess whether there is any indication that the asset may be impaired. Where an impairment is identified, the amount by which the carrying amount exceeds the recoverable amount is recognised immediately in profit or loss.
Dividends and other distributions from subsidiaries are recognised in profit or loss when the right to receive payment is established.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	16		20

Staff are employed by the parent company and recharged to Sleeper Media Limited

3. Intangible assets

	Goodwill		Other intangible assets		Total
	£		£		£
Cost
At 01 January 2025	272,500		245,655		518,155
At 31 December 2025	272,500		245,655		518,155
Accumulated amortisation
At 01 January 2025	224,743		245,655		470,398
Charge for the financial year	13,620		0		13,620
At 31 December 2025	238,363		245,655		484,018
Net book value
At 31 December 2025	34,137		0		34,137
At 31 December 2024	47,757		0		47,757

4. Fixed asset investments

Investments in subsidiaries

	2025
	£
Cost
At 01 January 2025	4,472,832
Additions	62,679
Disposals	( 1,725,000)
At 31 December 2025	2,810,511
Carrying value at 31 December 2025	2,810,511
Carrying value at 31 December 2024	4,472,832

5. Debtors

	2025		2024
	£		£
Trade debtors	381,914		335,206
Amounts owed by Group undertakings	100,000		0
Other debtors	101,506		179,903
	583,420		515,109

6. Cash and cash equivalents

	2025		2024
	£		£
Cash at bank and in hand	61,905		99,072

7. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	204,881		340,861
Amounts owed to Group undertakings	775,000		2,524,290
Taxation and social security	79,019		37,571
Other creditors	306,644		316,573
	1,365,544		3,219,295

8. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Amounts owed to Group undertakings	0		30,000
Other creditors	154,000		154,000
	154,000		184,000

There are no amounts included above in respect of which any security has been given by the small entity.

9. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
315,790 Ordinary shares of £ 1.00 each	315,790		315,790