PLASA Media Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 04111709 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

FOR

PLASA MEDIA LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Directors' Responsibilities Statement

7

Independent Accountants' Review Report

8

DIRECTORS:

S S McGreevy

J Tien

P Heath

REGISTERED OFFICE:

Redoubt House

Edward Road

Eastbourne

East Sussex

BN23 8AS

REGISTERED NUMBER:

04111709 (England and Wales)

ACCOUNTANTS:

Xynamo 5 Ltd

Chartered Accountants

2 Upperton Gardens

Eastbourne

East Sussex

BN21 2AH

CURRENT ASSETS

Debtors

5

246,981

110,485

Cash at bank

199,018

143,657

445,999

254,142

CREDITORS

Amounts falling due within one year

6

118,896

76,749

NET CURRENT ASSETS

327,103

177,393

TOTAL ASSETS LESS CURRENT
LIABILITIES

327,103

177,393

CREDITORS

Amounts falling due after more than one
year

7

166,667

-

NET ASSETS

160,436

177,393

CAPITAL AND RESERVES

Called up share capital

1,000

Retained earnings

159,436

176,393

SHAREHOLDERS' FUNDS

160,436

177,393

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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

The financial statements were approved by the Board of Directors and authorised for issue on 19 October 2022 and were signed on its behalf by:

S S McGreevy - Director

P Heath - Director

1.	STATUTORY INFORMATION

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

Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net of value added tax. It is stated exclusive of sales of fixed assets.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment

-

25% on cost

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

Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction.

Pensions

The company makes defined pension contributions for some of its employees. All contributions are charged to profit and loss account as incurred.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2020 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 January 2021

and 31 December 2021

3,649

DEPRECIATION

At 1 January 2021

and 31 December 2021

3,649

NET BOOK VALUE

At 31 December 2021

-

At 31 December 2020

-

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

Trade debtors

69,113

105,151

Amounts owed by group undertakings

182,334

-

Other debtors

(7,369

)

-

Prepayments

2,903

5,334

246,981

110,485

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

Bank loans and overdrafts

33,333

-

Trade creditors

1,423

8,712

Amounts owed to group undertakings

50,000

51,213

Social security and other taxes

4,403

14,030

Other creditors

-

594

Accrued expenses

29,737

2,200

118,896

76,749

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

2021

2020

£

Bank loans - 2-5 years

166,667

-

8.	RELATED PARTY DISCLOSURES

The company made purchases of £47,608 (2020 - £59,502) from PLASA Limited and sales of £Nil (2020 - £Nil) to PLASA Limited, a company registered in England and Wales and under common control of the Professional Lighting and Sound Association.

At 31 December 2021 the company was owed £182,334 by PLASA Limited (2020 - owed £51,213) this is included debtors.

During the year £50,000 dividends (2020 - £150,000) were voted in favour of PLASA Limited.

The company made purchases of £2,950 (2020 - £3,240) from PLASA Media Inc and sales of £3,720 (2020 - £1,077) to PLASA Media Inc, a company registered in USA.

The company made purchases of £1,035, (2020 - £1,263) from PLASA Events Limited and sales of £Nil (2020 - £Nil) to PLASA Events Limited, a registered company in England and Wales under common control of the Professional Lighting and Sound Association.

9.	ULTIMATE PARENT UNDERTAKING AND ULTIMATE CONTROLLING PARTY

The company is wholly owned and controlled by the Professional Lighting and Sound Association.

The following reproduces the text of the report prepared for the directors and members in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

We confirm that as directors we have met our duty in accordance with the Companies Act 2006 to:

-	ensure that the company has kept proper accounting records;

-	prepare financial statements which give a true and fair view of the state of affairs of the company as at 31 December 2021 and of its profit for that period in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	follow the applicable accounting policies, subject to any material departures disclosed and explained in the notes to the financial statements.

ON BEHALF OF THE BOARD:

S S McGreevy - Director

P Heath - Director

19 October 2022

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

We have reviewed the financial statements of Plasa Media Limited for the year ended 31 December 2021, which comprise the Income Statement, Balance Sheet and the related notes 1 to 0. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

This report is made solely to the company's directors, as a body, in accordance with our terms of engagement. Our review has been undertaken so that we might state to the directors those matters that we have agreed with them in our engagement letter 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 directors as a body for our work, for this report or the conclusions we have formed.

Directors' responsibility for the financial statements

As explained more fully in the Directors' Responsibilities Statement set out on page nil, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view.

Accountants' responsibility

Our responsibility is to express a conclusion based on our review of the financial statements. We conducted our review in accordance with International Standard on Review Engagements (ISRE) 2400 (Revised), 'Engagements to review historical financial statements' and ICAEW Technical Release TECH 09/13AAF 'Assurance review engagements on historical financial statements'. ISRE 2400 also requires us to comply with the ICAEW Code of Ethics.

Scope of the assurance review

A review of financial statements in accordance with ISRE 2400 (Revised) is a limited assurance engagement. We have performed additional procedures to those required under a compilation engagement. These primarily consist of making enquiries of management and others within the entity, as appropriate, applying analytical procedures and evaluating the evidence obtained. The procedures performed in a review are substantially less than those performed in an audit conducted in accordance with International Standards on Auditing (UK and Ireland). Accordingly, we do not express an audit opinion on these financial statements.

Conclusion

Based on our review, nothing has come to our attention that causes us to believe that the financial statements have not been prepared:

-	so as to give a true and fair view of the state of the company's affairs as at 31 December 2021 and of its profit for the year then ended;

-	in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	in accordance with the requirements of the Companies Act 2006.

Xynamo 5 Ltd

Chartered Accountants

2 Upperton Gardens

Eastbourne

East Sussex

BN21 2AH

Date: .............................................

PLASA Media Limited - Accounts to registrar (filleted) - small 18.2

PLASA Media Limited - Accounts to registrar (filleted) - small 18.2