GZ Digital Media UK Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04362027 (England and Wales)

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2018

FOR

GZ DIGITAL MEDIA UK LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

P Bibby

SECRETARY:

M Sterba

REGISTERED OFFICE:

Herschel House

58 Herschel Street

Slough

Berkshire

SL1 1PG

REGISTERED NUMBER:

04362027 (England and Wales)

AUDITORS:

Oury Clark Chartered Accountants

Statutory Auditors

Herschel House

58 Herschel Street

Slough

Berkshire

SL1 1PG

CURRENT ASSETS

Debtors

4

53,143

44,691

Cash at bank

36,842

48,996

89,985

93,687

CREDITORS

Amounts falling due within one year

5

42,118

55,571

NET CURRENT ASSETS

47,867

38,116

TOTAL ASSETS LESS CURRENT LIABILITIES

47,867

38,116

CAPITAL AND RESERVES

Called up share capital

6

40,000

40,000

Retained earnings

7,867

(1,884

)

SHAREHOLDERS' FUNDS

47,867

38,116

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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

The financial statements were approved by the director on 7 March 2019 and were signed by:

P Bibby - Director

1.	STATUTORY INFORMATION

GZ Digital Media UK 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

The accounts have been prepared on the going concern basis in light of the fact that the parent company, GZ Media

AS, will continue to provide financial support to GZ Digital Media UK Limited for the foreseeable future and in any

event for at least one year and one day from the date of the audit report.

Related party exemption

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.

Turnover

Turnover represents net invoiced sales of services, excluding value added tax.

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

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.

Financial instruments

Basic Financial Instruments, as covered by Section 11 of FRS 102, are measured at amortised cost. The company

does not have any Other Financial Instruments, as covered by Section 12 of FRS 102.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2017 - 1 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Amounts owed by group undertakings

16,000

16,000

Other debtors

37,143

28,691

53,143

44,691

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Trade creditors

187

1,293

Taxation and social security

5,727

5,782

Other creditors & accruals

36,204

48,496

42,118

55,571

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.18

31.12.17

value:

£

£

40,000

Ordinary

£1

40,000

40,000

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

The Report of the Auditors was unqualified.

Emma Crowley (Senior Statutory Auditor)

for and on behalf of Oury Clark Chartered Accountants

We would like to draw your attention to the following statement contained within our audit report as included within

the full financial statements:-

"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 a Report of the Auditors 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."

8.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr Z Pelc by virtue of his shareholding in Earthglobe Limited.

9.	ULTIMATE PARENT COMPANY

The immediate parent company is GZ Media AS, a company incorporated in the Czech Republic, by virtue of its

100% shareholding in the company. The ultimate parent company is Earthglobe Limited, a company incorporated in

Cyprus.