COM & TEL MEDIA LIMITED - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 12066049 (England and Wales)

Unaudited Financial Statements For The Year Ended 31st December 2022

for

COM & TEL MEDIA LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

C Gardiner

Ms E Guicharnaud

REGISTERED OFFICE:

Unit 15 Cochran Close

Crownhill Industrial

Milton Keynes

Buckinghamshire

MK8 0AJ

REGISTERED NUMBER:

12066049 (England and Wales)

ACCOUNTANTS:

Dua & Co. Limited

1st Floor

5 Century Court

Tolpits Lane

Watford

Hertfordshire

WD18 9PX

FIXED ASSETS

Investments

3

375,000

375,000

CURRENT ASSETS

Debtors

4

100

100

CREDITORS

Amounts falling due within one year

5

382,566

382,566

NET CURRENT LIABILITIES

(382,466

)

(382,466

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(7,466

)

(7,466

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(7,566

)

(7,566

)

SHAREHOLDERS' FUNDS

(7,466

)

(7,466

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2022 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 8th September 2023 and were signed on its behalf by:

Ms E Guicharnaud - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

Company information

Com & Tel Media Limited is a private company limited by shares and is registered and incorporated in England and Wales. The registered office is Unit 15 Cochran Close, Crownhill Industrial, Milton Keynes, United Kingdom, MK8 0AJ.

The company's principal activities and nature of its operations are disclosed in the Directors' Report.

Accounting convention

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 £1.

The financial statements have been prepared under the historical cost convention. The principal accounting

policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company does not trade and has one liability, being a loan due to Cellcast UK Limited, which is the company's only subsidiary undertaking. The directors have received confirmation from Cellcast UK Limited that they will not demand repayment of any of their loan until such time as the company has the ability to pay. The company expects to fund repayment of the loan via dividend income from Cellcast UK Limited, which has prepared accounts on a going concern basis for the same period.

Thus the directors continue to adopt the going concern basis of accounting in preparing these financial statements.

Fixed asset investments

Interests in subsidiaries are 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.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its fixed assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include other debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost, being transaction price less amounts settled and less any impairment losses.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including amounts due to related and group undertakings, are initially recognised at transaction price and subsequently carried at amortised cost, being transaction price less amounts settled.

Equity instruments

Equity instruments issued by the company are recorded at the fair value of proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at 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.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 2 ) .

3.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1st January 2022

and 31st December 2022

375,000

NET BOOK VALUE

At 31st December 2022

375,000

At 31st December 2021

375,000

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Cellcast UK Limited

Registered office: 33 Priory Road, Southampton, SO17 2HT,England

Nature of business: Production and broadcast of participation

%

Class of shares:

holding

Ordinary

100.00

.

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Other debtors

100

100

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Amounts owed to group undertakings

382,566

382,566

The balance above comprises a loan of £382,566 (2021: £382,566) due to the company's subsidiary undertaking.The loan is repayable on demand, unsecured and interest free.

6.	RELATED PARTY DISCLOSURES

The amounts due to group undertakings of £382,566 (2021: £382,566) relates to Cellcast UK Ltd.