1854 Media Limited - Accounts to registrar (filleted) - small 18.2
1854 Media Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 JUNE 2021 |
| FOR |
| 1854 MEDIA LIMITED |
| 1854 MEDIA LIMITED (REGISTERED NUMBER: 08361351) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 JUNE 2021 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| 1854 MEDIA LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 30 JUNE 2021 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 34a Watling Street |
| Radlett |
| Hertfordshire |
| WD7 7NN |
| 1854 MEDIA LIMITED (REGISTERED NUMBER: 08361351) |
| BALANCE SHEET |
| 30 JUNE 2021 |
| 2021 | 2020 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Property, plant and equipment | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 8 | ( |
) | ( |
) |
| PROVISIONS FOR LIABILITIES | 9 | ( |
) | ( |
) |
| NET LIABILITIES | ( |
) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital | 10 |
| Share premium | 11 |
| Revaluation reserve | 11 |
| Retained earnings | 11 | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| 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. |
| 1854 MEDIA LIMITED (REGISTERED NUMBER: 08361351) |
| BALANCE SHEET - continued |
| 30 JUNE 2021 |
| 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 |
| 1854 MEDIA LIMITED (REGISTERED NUMBER: 08361351) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 JUNE 2021 |
| 1. | STATUTORY INFORMATION |
| 1854 Media Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Goodwill |
| Domain names |
| Domain names represent the website names associated with the British Journal of Photography and are stated at historical cost less amortisation. Amortisation is provided on a straight line basis over 10 years which represents the Directors' best estimate of useful economic life. |
| Computer software |
| Computer software costs are stated at historical cost less amortisation. Amortisation is provided on a straight line basis over 10 years which represents the Directors' best estimate of useful economic life. |
| Tangible fixed assets |
| Improvements to property | - |
| Fixtures and fittings | - |
| Computer equipment and technologies | - |
| Pension costs and other post-retirement benefits |
| 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. |
| Going concern |
| The accounts have been prepared on a going concern basis given the continued financial support of the directors, the company's shareholders and its bankers. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 1854 MEDIA LIMITED (REGISTERED NUMBER: 08361351) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 JUNE 2021 |
| 4. | INTANGIBLE FIXED ASSETS |
| Domain | Computer |
| Goodwill | names | software | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 July 2020 |
| Additions |
| Reclassification/transfer |
| At 30 June 2021 |
| AMORTISATION |
| At 1 July 2020 |
| Amortisation for year |
| Reclassification/transfer |
| At 30 June 2021 |
| NET BOOK VALUE |
| At 30 June 2021 |
| At 30 June 2020 |
| 5. | PROPERTY, PLANT AND EQUIPMENT |
| Computer |
| Improvements | Fixtures | equipment |
| to | and | and |
| property | fittings | technologies | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 July 2020 |
| Additions |
| Disposals | ( |
) | ( |
) |
| Reclassification/transfer | ( |
) | ( |
) |
| At 30 June 2021 |
| DEPRECIATION |
| At 1 July 2020 |
| Charge for year |
| Reclassification/transfer | ( |
) | ( |
) |
| At 30 June 2021 |
| NET BOOK VALUE |
| At 30 June 2021 | ( |
) |
| At 30 June 2020 |
| During the year £176,994 of Computer Equipment, together with the associated accumulated depreciation, was reclassified from tangible to intangible fixed assets to better reflect their true carrying values. |
| 1854 MEDIA LIMITED (REGISTERED NUMBER: 08361351) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 JUNE 2021 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Trade debtors |
| Other debtors |
| VAT |
| Prepayments and accrued income |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Trade creditors |
| Social security and other taxes |
| VAT | - | 173 |
| Other creditors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Bank loans - 1-2 years |
| Bank loans - 2-5 years |
| Other loans - 2-5 years |
| Other creditors |
| Other creditors include loans repayable on demand from two of the directors, Mr M P Hartog and Mr A D Kramer, with no fixed terms for repayment and with loan interest payable at a rate of 8% above bank base per annum. |
| Other loans represent convertible loan notes issued by the company. The loan notes will reach maturity 36 months from the date of issue. Interest accrues at 8% per annum. |
| The company availed itself of the Govt-backed Coronavirus Bounce-back loan scheme. There is no interest payable, nor capital repayments due, for the first year. Over the remaining 5 year term, the loan is repayable by equal instalments, with interest fixed at 2.5% per annum. There are no penalties on early redemption. |
| 9. | PROVISIONS FOR LIABILITIES |
| 2021 | 2020 |
| £ | £ |
| Other provisions |
| Deferred subscription income | 211,366 | 185,737 |
| Accruals & deferred income | 82,996 | 105,859 |
| Deferred subscription income represents subscriptions receivable in advance of publication. |
| 1854 MEDIA LIMITED (REGISTERED NUMBER: 08361351) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 JUNE 2021 |
| 10. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2021 | 2020 |
| value: | £ | £ |
| A shares | 0.00001 | 230 | 227 |
| B shares | 0.00001 | 18 | 18 |
| 248 | 245 |
| 326,442 A shares shares of 0.00001 each were allotted as fully paid |
| Class A shares have full voting rights; Class B shares have no voting rights. Shares of both classes have full dividend rights, full rights on winding up and are non redeemable. |
| 11. | RESERVES |
| Retained | Share | Revaluation |
| earnings | premium | reserve | Totals |
| £ | £ | £ | £ |
| At 1 July 2020 | ( |
) | (67,787 | ) |
| Deficit for the year | ( |
) | ( |
) |
| Cash share issue | - | 84,997 | - | 84,997 |
| At 30 June 2021 | ( |
) | (476,559 | ) |
| 12. | ULTIMATE CONTROLLING PARTY |
| The ultimate controlling party is the director, Mr M P Hartog, by virtue of his majority shareholding in the voting share capital of the company. |