Catalyst Global Media Limited - Accounts to registrar (filleted) - small 18.2

CATALYST GLOBAL MEDIA LIMITED

Financial Statements

for the Year Ended 31 December 2020

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Directors:

A M Hardiman

G J Lyons

C M Walls-Hardiman

Registered office:

New Derwent House

69-73 Theobalds Road

London

WC1X 8TA

Registered number:

07946499 (England and Wales)

Fixed assets

Tangible assets

4

4,375

432

Investments

5

3

3

4,378

435

Current assets

Debtors

6

157,098

69,128

Cash at bank

225,887

3,470

382,985

72,598

Creditors

Amounts falling due within one year

7

343,274

318,295

Net current assets/(liabilities)

39,711

(245,697

)

Total assets less current liabilities

44,089

(245,262

)

Creditors

Amounts falling due after more than one year

8

450,000

-

Net liabilities

(405,911

)

(245,262

)

Capital and reserves

Called up share capital

9

147,190

147,190

Share premium

74,973

74,973

Retained earnings

(628,074

)

(467,425

)

Shareholders' funds

(405,911

)

(245,262

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 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 27 September 2021 and were signed on its behalf by:

C M Walls-Hardiman - Director

1.	Statutory information

Catalyst Global 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

Compliance with accounting standards

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.

Significant judgements and estimates

In applying the Company's accounting policies, the directors are required to make judgements, estimates and assumptions in determining the carrying amounts of assets and liabilities. The director's judgements, estimated and assumptions are based on the best and most reliable evidence available at the time when the decisions are made, and are based on historical experience and other factors that are considered to be applicable. Due to the inherent subjectivity involved in making such judgements, estimates and assumptions, the actual results and outcomes may differ.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and future periods, if the revision affects both current and future periods.

Critical judgements in applying the Company's accounting policies

The critical judgement that the director has made in the process of applying the Company's accounting policies that have the most significant effect on the amounts recognised in the statutory financial statements are discussed below:

(i) Assessing indicators and impairment

In assessing whether there have been any indicators or impairment assets, the directors have considered both external and internal sources of information such as market conditions, counterparty credit ratings and experience or recoverability. There have been no indicators or impairments identified during the current financial year.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,value added tax and other sales taxes.

Tangible fixed assets

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

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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 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.

Investments

Fixed asset investments are stated at cost less provision for diminution in value.

Going concern

The financial statements have been prepared on a going concern basis. The Directors have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment. In particular, in response to the COVID-19 pandemic, the Directors have tested their cash flow analysis to take into account the impact on their business of possible scenarios brought on by the impact of COVID-19, alongside the measures that they can take to mitigate the impact. Based on these assessments, given the measures that could be undertaken to mitigate the current adverse conditions, and the current resources available, the Directors have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts.

Financial instruments

(i) Financial assets

Basic financial assets, including trade and other receivables, cash and bank balances, are initially recognised at transaction price, 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.

Such assets are subsequently carried at amortised cost using the effective interest method.

(ii) Financial liabilities

Basic financial liabilities, including trade and other payables and bank loans 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 receipts discounted at a market rate of interest.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts 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 payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

(iii) Company financial instruments

The Company has not issued and is not in receipt of any compound financial instruments.

(iv) Offsetting

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

3.	Employees and directors

The average number of employees during the year was 6 (2019 - 5 ) .

4.	Tangible fixed assets

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

Cost

At 1 January 2020

32,026

3,540

35,566

Additions

99

6,044

6,143

At 31 December 2020

32,125

9,584

41,709

Depreciation

At 1 January 2020

32,026

3,108

35,134

Charge for year

99

2,101

2,200

At 31 December 2020

32,125

5,209

37,334

Net book value

At 31 December 2020

-

4,375

4,375

At 31 December 2019

-

432

432

5.	Fixed asset investments

Shares in

group

undertakings

£

Cost

At 1 January 2020

and 31 December 2020

3

Net book value

At 31 December 2020

3

At 31 December 2019

3

6.

Debtors

2020

2019

£

£

Amounts falling due within one year:

Trade debtors

7,428

4,210

Amounts owed by group undertakings

87,412

2,000

VAT

2,258

2,897

97,098

9,107

2020

2019

£

£

Amounts falling due after more than one year:

Prepayments and accrued income

60,000

60,021

Aggregate amounts

157,098

69,128

7.

Creditors: amounts falling due within one year

2020

2019

£

£

Trade creditors

3,454

19,690

Amounts owed to group undertakings

322,000

290,000

Social security and other taxes

16,348

7,734

Pension Control

1,472

871

343,274

318,295

8.

Creditors: amounts falling due after more than one year

2020

2019

£

£

Bank loans - 1-2 years

30,000

-

Bank loans - 2-5 years

360,000

-

Bank loans more 5 yrs non-inst

60,000

-

450,000

-

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

60,000

-

9.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

190

Ordinary Share

1

190

190

1,470,000

Preference Share

0.10

147,000

147,000

147,190

147,190

10.	Post balance sheet events

.

11.	Ultimate controlling party

The Company is controlled by the directors.