Mondiale Media Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 02019879 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 June 2023

for

MONDIALE MEDIA LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

Directors:

A J Giles

D S Walsh

Secretary:

A J Giles

Registered office:

Waterloo Place

Watson Square

Stockport

SK1 3AZ

Registered number:

02019879 (England and Wales)

Accountants:

Haines Watts Manchester Limited

Northern Assurance Buildings

9-21 Princess Street

Manchester

M2 4DN

Fixed assets

Intangible assets

5

1

1

Tangible assets

6

445,910

472,110

Investments

7

80,049

80,049

525,960

552,160

Current assets

Debtors

8

2,325,706

2,248,558

Cash at bank

659,799

1,873,137

2,985,505

4,121,695

Creditors

Amounts falling due within one year

9

787,472

1,296,343

Net current assets

2,198,033

2,825,352

Total assets less current liabilities

2,723,993

3,377,512

Creditors

Amounts falling due after more than one year

10

(125,000

)

(925,000

)

Provisions for liabilities

(14,428

)

(32,192

)

Net assets

2,584,565

2,420,320

Capital and reserves

Called up share capital

11

6,252

6,252

Capital redemption reserve

3,804

3,804

Retained earnings

2,574,509

2,410,264

Shareholders' funds

2,584,565

2,420,320

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 November 2023 and were signed on its behalf by:

A J Giles - Director

1.	Statutory information

Mondiale 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.	Statement of compliance

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.

3.	Accounting policies

Basis of preparing the financial statements

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

Preparation of consolidated financial statements

The financial statements contain information about Mondiale Media Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Significant judgements and estimates

In preparing these financial statements, the directors have had to make the following judgements and estimates:

- assessment of the useful economic lives and residual values of fixed assets - the actual lives of the asset and residual values are assessed annually and may vary depending on a number of factors such as technological innovation, product life cycles and maintenance programmes. Residual value assessments include future market assessments, the remaining life of the asset and projected disposal values.

Turnover

Advertising revenue is recognised upon publication of the magazine.

Subscription revenue is recognised in full upon invoice.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of twenty years.

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.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses.

Freehold property -10% straight line

Fixtures and Fittings -20% straight line

Office Equipment -33% straight line

Computer equipment -33% straight line

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Financial instruments

The company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments.

(i) Financial assets

Basic financial assets, including trade and other debtors 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 creditors 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.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

4.	Employees and directors

The average number of employees during the year was 19 (2022 - 18 ) .

5.	Intangible fixed assets

Goodwill

£

Cost

At 1 July 2022

and 30 June 2023

65,567

Amortisation

At 1 July 2022

and 30 June 2023

65,566

Net book value

At 30 June 2023

1

At 30 June 2022

1

6.	Tangible fixed assets

Fixtures

Freehold

Office

and

Computer

property

Equipment

fittings

equipment

Totals

£

£

£

£

£

Cost

At 1 July 2022

1,254,170

123,090

209,038

563,079

2,149,377

Additions

-

5,958

3,339

55,457

64,754

At 30 June 2023

1,254,170

129,048

212,377

618,536

2,214,131

Depreciation

At 1 July 2022

818,326

120,123

200,419

538,399

1,677,267

Charge for year

68,825

1,362

4,057

16,710

90,954

At 30 June 2023

887,151

121,485

204,476

555,109

1,768,221

Net book value

At 30 June 2023

367,019

7,563

7,901

63,427

445,910

At 30 June 2022

435,844

2,967

8,619

24,680

472,110

7.	Fixed asset investments

Shares in

group

undertakings

£

Cost

At 1 July 2022

and 30 June 2023

80,049

Net book value

At 30 June 2023

80,049

At 30 June 2022

80,049

8.

Debtors: amounts falling due within one year

2023

2022

£

£

Trade debtors

599,351

662,372

Amounts owed by group undertakings

1,683,186

1,443,430

Other debtors

43,169

142,756

2,325,706

2,248,558

9.

Creditors: amounts falling due within one year

2023

2022

£

£

Bank loans and overdrafts

300,000

300,000

Trade creditors

92,974

92,090

Taxation and social security

46,493

280,515

Other creditors

348,005

623,738

787,472

1,296,343

10.

Creditors: amounts falling due after more than one year

2023

2022

£

£

Bank loans

125,000

925,000

11.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2023

2022

value:

£

£

62,516

Ordinary

10p

6,252

6,252

12.	Related party disclosures

During the year, the company sold goods and services of the amount £259,215 (2022 - £896,447) to CGA Strategy Limited, a company in which D Walsh and A Giles are directors in with a resulting year end debtor balance of NIL (2022 - £123,720). During the year, the company also bought goods and services amounting to £1,327 (2022 - £41,109) from CGA Strategy Limited. Included in creditors is a balance of NIL (2022 - £364) due to CGA Strategy Limited.

During the year, the company sold goods and services of the amount £788,011 (2022 - £651,201) to Darc Media Limited, with a resulting year end debtor balance of £60,769 (2022 - £50,577). During the year, the company also bought goods and services amounting to £7,805 (2022 - 9,176) from Darc Media Limited. No balance included in the creditors this year NIL (2022 - NIL). The company also received a dividend of £80,000 from Darc Media Limited (2022 - NIL).

During the year, the company sold goods and services of the amount £101,285 (2022 - NIL) to Mondo Stadia Media Limited, with a resulting year end debtor balance of NIL (2022 - NIL). During the year, the company also bought goods and services amounting to £3,100 (2022 - NIL) from Mondo Stadia Media Limited. Balance included in the creditors this year £815 (2022 - NIL). .

During the year, the company sold goods and services of the amount £911,007 (2022 - £884,553) to Sleeper Media Limited, a company in which D Walsh and A Giles are directors in with a resulting year end debtor balance of £78,722 (2022 - £73,097). During the year, the company also bought goods and services amounting to £5,496 (2022 - £6,755) from Sleeper Media Limited. Included in the creditors is a balance of NIL (2022 - NIL).

During the year, the company sold goods and services of the amount £19,738 (2022 - £35,030) to Production Services Association, with a resulting year end debtor balance of £1,934 (2022 - £4,033). During the year, the company also bought goods and services amounting to NIL (2022 - NIL) from Production Services Association. No balance included in the creditors this year NIL (2022 - NIL).

13.	Ultimate controlling party