1854 Media Limited - Accounts to registrar (filleted) - small 23.2.5
1854 Media Limited - Accounts to registrar (filleted) - small 23.2.5
| REGISTERED NUMBER: |
| 1854 MEDIA LIMITED |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2022 |
| 1854 MEDIA LIMITED (REGISTERED NUMBER: 08361351) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2022 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 4 |
| 1854 MEDIA LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 DECEMBER 2022 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Third Floor |
| 21 St Mary's Street |
| Shrewsbury |
| Shropshire |
| SY1 1ED |
| 1854 MEDIA LIMITED (REGISTERED NUMBER: 08361351) |
| STATEMENT OF FINANCIAL POSITION |
| 31 DECEMBER 2022 |
| 2022 | 2021 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| 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) |
| STATEMENT OF FINANCIAL POSITION - continued |
| 31 DECEMBER 2022 |
| 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 31 DECEMBER 2022 |
| 1. | STATUTORY INFORMATION |
| 1854 Media Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Goodwill |
| Goodwill, being the amount paid in connection with the acquisition of a business in 2013, has previously been amortised evenly over its estimated useful life of twenty years. |
| The directors have considered the carrying value of the Goodwill and felt it is appropriate to write this down to £nil during this financial year. |
| Intangible assets |
| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
| Domain names have previously been amortised evenly over their estimated useful life of ten years. |
| Computer software has previously been amortised evenly over its estimated useful life of ten years. |
| The directors have considered the carrying value of Intangible assets and felt it is appropriate to write these down to £nil, during this financial year. |
| Tangible fixed assets |
| Improvements to property | - Over the life of the lease |
| Fixtures and fittings | - 25% on cost |
| Computer equipment and technologies | - 20% on cost |
| Government grants |
| Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit or loss. |
| 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 statement of financial position date. |
| 1854 MEDIA LIMITED (REGISTERED NUMBER: 08361351) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2022 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| Debtors |
| 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. Cash equivalents are highly liquid investments that |
| mature in no more than three months from the date of acquisition and that are readily convertible to |
| known amounts of cash with insignificant risk of change in value. |
| 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 in the company's balance sheet when the company becomes |
| party to the contractual provisions of the instrument. |
| Financial assets and liabilities are offset, with 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. |
| Creditors |
| 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. |
| Interest income |
| Interest income is recognised in the profit and loss account using the effective interest method. |
| Going concern |
| The accounts have been prepared on a going concern basis given the continued financial support of the directors. The majority of the creditor balance relates to a balance owed to LGL Properties Limited, a company owned and controlled by Mr S R Henly, director. |
| 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 31 DECEMBER 2022 |
| 4. | INTANGIBLE FIXED ASSETS |
| Other |
| intangible |
| Goodwill | assets | Totals |
| £ | £ | £ |
| COST |
| At 1 January 2022 |
| Disposals | ( |
) | ( |
) |
| At 31 December 2022 |
| AMORTISATION |
| At 1 January 2022 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 December 2022 |
| NET BOOK VALUE |
| At 31 December 2022 |
| At 31 December 2021 |
| 5. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 1 January 2022 |
| Additions |
| Disposals | ( |
) |
| At 31 December 2022 |
| DEPRECIATION |
| At 1 January 2022 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 31 December 2022 |
| NET BOOK VALUE |
| At 31 December 2022 |
| At 31 December 2021 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 1854 MEDIA LIMITED (REGISTERED NUMBER: 08361351) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2022 |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Bank loans |
| Other creditors |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2022 | 2021 |
| £ | £ |
| Other loans |
| Included within other loans is £280,910 (2021: £nil) owing to LGL Properties Ltd. LGL Properties Ltd is a limited company owned and controlled by Mr S R Henly. |
| The loan is secured by a floating charge over all present and future acquired undertaking, property, assets and rights of the Borrower. |
| 10. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2022 | 2021 |
| value: | £ | £ |
| A Shares | 0.00001 | 255 | 255 |
| B Shares | 0.00001 | 18 | 18 |
| 273 | 273 |
| 11. | RESERVES |
| Retained | Share | Revaluation |
| earnings | premium | reserve | Totals |
| £ | £ | £ | £ |
| At 1 January 2022 | ( |
) | (132,295 | ) |
| Deficit for the year | ( |
) | ( |
) |
| At 31 December 2022 | ( |
) | (436,013 | ) |
| 1854 MEDIA LIMITED (REGISTERED NUMBER: 08361351) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2022 |
| 12. | RELATED PARTY DISCLOSURES |
| Included within Debtors: Amounts falling due within one year are other loans of £16,800 (2021: £nil) relating to an unsecured interest free loan, granted to Bluecoat Press Limited. This is a loan repayable on demand. Bluecoat Press Limited is a limited company owned and controlled by Mr S R Henly. |
| Included within Creditors: Amounts falling due within one year is a balance of £280,910 (2021: £nil) due to LGL Properties Ltd. LGL Properties Ltd is a limited company owned and controlled by Mr S R Henly. |
| 13. | ULTIMATE CONTROLLING PARTY |
| The controlling party is Mr S R Henly. |
| The ultimate controlling party is Mr S R Henly, by virtue of him holding 100% of the voting share capital. |