Media_Enterprises_Interna - Accounts

In accordance with section 444 of the Companies Act 2006 all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (S.I. 2008/409)(b).

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial period ended 31 July 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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.

The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

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

Media Enterprises International Limited is a private company limited by shares incorporated in England and Wales. The registered office is 2nd Floor 148 Curtain Road, London, England, EC2A 3AT.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, and to include investments and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

The accounts have been prepared on the going concern basis. The company is reliant on support from a related party and the directors have confirmed that the funds will be made available to enable the company to meet its day to day commitments for the foreseeable future.The financial statements do not include any adjustments that might result from the withdrawal of this support and the director is of the opinion that the going concern basis is therefore appropriate to the preparation of these financial statements.

Investments initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

The average monthly number of persons (including directors) employed by the company during the year was 3.

During the period, 1 ordinary share was issued at £1 for cash consideration.

C21 Media Limited is a company controlled by the director D Jenkinson. During the year the company paid management charges of £247,550 to C21 Media Limited.

As at 31 July 2020 the balance owed to C21 Media Limited by Media Enterprises International Limited was £481,130.