Company No:
Contents
| DIRECTORS | A A A Alhashmi |
| M L Newland |
| REGISTERED OFFICE | 1 Fetter Lane |
| Suites 1.04-1.05 | |
| London | |
| EC4A 1BR | |
| United Kingdom |
| COMPANY NUMBER | 13633465 (England and Wales) |
| AUDITOR | Praxis |
| Statutory Auditor | |
| 1 Fore Street Avenue | |
| London | |
| EC2Y 9DT | |
| United Kingdom |
| Note | 2025 | 2024 | ||
| £ | £ | |||
| Fixed assets | ||||
| Intangible assets | 3 |
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| Tangible assets | 4 |
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| Investments | 5 |
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| 51,691 | 56,503 | |||
| Current assets | ||||
| Debtors | 6 |
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| Cash at bank and in hand |
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| 7,049,728 | 4,640,563 | |||
| Creditors: amounts falling due within one year | 7 | (
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| Net current assets | 6,865,591 | 4,448,180 | ||
| Total assets less current liabilities | 6,917,282 | 4,504,683 | ||
| Creditors: amounts falling due after more than one year | 8 | (
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| Net liabilities | (
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| Capital and reserves | ||||
| Called-up share capital | 9 |
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| Other reserves |
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| Profit and loss account | (
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| Total shareholder's deficit | (
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The financial statements of Link Media Corporation Ltd (registered number:
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A A A Alhashmi
Director |
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.
Link Media Corporation Ltd (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 1 Fetter Lane, Suites 1.04-1.05, London, EC4A 1BR, 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 Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors note that the business has net liabilities of £9,936,604. The Company is supported through loans from the parent company. The parent company has confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the parent will continue to support the Company. Given the current position, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.
Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.
Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.
Finance costs are charged to the Profit and Loss Account over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
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 current 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.
| Other intangible assets |
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| Office equipment |
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| Computer equipment |
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The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.
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.
Financial assets
Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.
For financial assets carried at amortised cost, the amount of impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.
For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.
Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.
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.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.
Investments
Investments in subsidiary undertakings are held at cost less accumulated impairment losses.
Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.
| 2025 | 2024 | ||
| Number | Number | ||
| Monthly average number of persons employed by the Company during the year, including directors |
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| Other intangible assets | Total | ||
| £ | £ | ||
| Cost | |||
| At 01 January 2025 |
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| At 31 December 2025 |
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| Accumulated amortisation | |||
| At 01 January 2025 |
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| Charge for the financial year |
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| At 31 December 2025 |
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| Net book value | |||
| At 31 December 2025 |
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| At 31 December 2024 |
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| Office equipment | Computer equipment | Total | |||
| £ | £ | £ | |||
| Cost | |||||
| At 01 January 2025 |
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| Additions |
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| At 31 December 2025 |
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| Accumulated depreciation | |||||
| At 01 January 2025 |
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| Charge for the financial year |
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| At 31 December 2025 |
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| Net book value | |||||
| At 31 December 2025 | 667 | 24,872 | 25,539 | ||
| At 31 December 2024 | 1,086 | 26,974 | 28,060 |
Investments in subsidiaries
| 2025 | |
| £ | |
| Cost | |
| At 01 January 2025 |
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| At 31 December 2025 |
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| Carrying value at 31 December 2025 |
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| Carrying value at 31 December 2024 |
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Investments in shares
| Name of entity | Registered office | Principal activity | Class of shares |
Ownership 31.12.2025 |
Ownership 31.12.2024 |
Held |
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Dubai Development Authority Free Zone, Dubai, United Arab Emirates | Media and publishing |
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Direct |
| 2025 | 2024 | ||
| £ | £ | ||
| Amounts owed by Group undertakings |
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| Other debtors |
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| 2025 | 2024 | ||
| £ | £ | ||
| Trade creditors |
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| Other taxation and social security |
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| Other creditors |
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There are no amounts included above in respect of which any security has been given by the small entity.
| 2025 | 2024 | ||
| £ | £ | ||
| Amounts owed to Parent undertakings |
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At 31 December 2025, the aggregate nominal principal outstanding under the six agreements was £20,374,527 (2024: £13,969,973), and the carrying amount was £16,853,886 (2024: £11,156,090).
The loans are repayable five years from their respective effective dates.
The loans were initially recognised at the present value of their contractual cash flows using market discount rates applicable when each loan was advanced and are subsequently measured at amortised cost using the effective interest method.
The initial difference between nominal principal and present value was recognised as a capital contribution within other reserves. The discount unwind recognised during the year was £619,492. The related transfer between other reserves and the profit and loss account reserve is shown in the Statement of Changes in Equity.
| 2025 | 2024 | ||
| £ | £ | ||
| Allotted, called-up and fully-paid | |||
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Commitments
Total future minimum lease payments under non-cancellable operating leases are as follows:
| 2025 | 2024 | ||
| £ | £ | ||
| Within one year |
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| Between one and five years |
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| Total future minimum lease payments under non-cancellable operating leases |
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Pensions
The Company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.
| 2025 | 2024 | ||
| £ | £ | ||
| Unpaid contributions due to the fund (inc. in other creditors) |
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The audit report was signed by Christopher Blunn on behalf of Praxis.
Parent Company:
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| Al Najda Street Clock tower Building Office No.201 Abu Dhabi U.A.E |