|
Registered number: 10803406
ADFINITY MEDIA GROUP LTD
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2022
|
|
ADFINITY MEDIA GROUP LTD
REGISTERED NUMBER: 10803406
BALANCE SHEET
AS AT 30 JUNE 2022
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Debtors: amounts falling due within one year
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Creditors: amounts falling due within one year
|
|
|
|
|
|
|
|
|
|
|
|
|
Total assets less current liabilities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ADFINITY MEDIA GROUP LTD
REGISTERED NUMBER: 10803406
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2022
The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 26 June 2023.
................................................
D Sharpe
|
|
|
The notes on pages 3 to 7 form part of these financial statements.
|
|
ADFINITY MEDIA GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2022
Adfinity Media Group Limited ("the Company") is a private company limited by shares incorporated in England and Wales. Its registed office is 7 Castle Quay Business Park, Castle Boulevard, Nottingham, Nottinghamshire, United Kingdom, NG7 1FW.
The principal activity is that of a holding company.
2.Accounting policies
|
|
|
Basis of preparation of financial statements
|
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The following principal accounting policies have been applied:
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
∙the amount of revenue can be measured reliably;
∙it is probable that the Company will receive the consideration due under the contract;
∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and
∙the costs incurred and the costs to complete the contract can be measured reliably.
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
|
|
ADFINITY MEDIA GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2022
2.Accounting policies (continued)
|
|
|
Tangible fixed assets (continued)
|
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.
Depreciation is provided on the following annual basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
Investments in subsidiaries are measured at cost less accumulated impairment.
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
|
|
|
Cash and cash equivalents
|
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
|
|
The average monthly number of employees, including directors, during the year was 4 (2021 - 4).
|
|
|
ADFINITY MEDIA GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2022
|
|
Investments in subsidiary companies
|
Other fixed asset investments
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ADFINITY MEDIA GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2022
|
|
|
|
|
|
|
Amounts owed by group undertakings
|
|
|
|
|
|
|
|
|
|
Called up share capital not paid
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Creditors: Amounts falling due within one year
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amounts owed to group undertakings
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ADFINITY MEDIA GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2022
|
|
|
Allotted, called up and fully paid
|
|
|
|
|
|
|
|
|
|
|
|
29,974 (2021 - 29,974) Ordinary A shares of £1.00 each
|
|
|
|
|
|
29,998 (2021 - 29,998) Ordinary B shares of £1.00 each
|
|
|
|
|
|
29,998 (2021 - 29,998) Ordinary C shares of £1.00 each
|
|
|
|
|
|
2,330 (2021 - 2,330) Ordinary D shares of £1.00 each
|
|
|
|
|
|
2,330 (2021 - 2,330) Ordinary E shares of £1.00 each
|
|
|
|
|
|
2,330 (2021 - 2,330) Ordinary F shares of £1.00 each
|
|
|
|
|
|
1,505 (2021 - 1,505) Ordinary G shares of £1.00 each
|
|
|
|
|
|
1,505 (2021 - 1,505) Ordinary H shares of £1.00 each
|
|
|
|
|
|
3 (2021 - 3) Ordinary I shares of £1.00 each
|
|
|
|
|
|
26 (2021 - 26) Ordinary J shares of £1.00 each
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Related party transactions
|
|
|
At the period end, the company owed £79,993 (2021 - £79,993) to subsidiary companies, included within creditors.
At the period end, the company owed £53,113 (2021 - £53,113) to a company under common control, included within creditors.
At the period end, the company was owed £27,721 (2021 - £27,721) by companies under common control, included within debtors.
|
|
