PANORAMA_MEDIA_LTD - Accounts

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.

Panorama Media Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 5A Bear Lane, Southwark, London, SE1 0UH.

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 £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

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

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation are included in the profit and loss account for the period.

The average monthly number of persons (including directors) employed by the company during the year was 0 (2016 - 0).

Related parties are companies in which the directors have an interest.

The following related party transactions occurred during the year to 31 December 2017:

- Business Outlook Limited         Sales of £4,636     (2016 - £Nil)

- Global Business Worldwide Ltd        Sales of £4,387 (2016 - £Nil)

- Global Insight Reports Ltd        Sales of £70,763     (2016 - £Nil)

- Leading Edge Guides Ltd         Sales of £23,776 (2016 - £Nil)

- Prisma Reports Ltd            Sales of £33,396     (2016 - £Nil)

- World Focus Media Ltd             Sales of £74,621     (2016 - £Nil)

- Advertising Sections and Promotions Ltd    Purchases of £336,031 (2016 - £4,863)

- Business Focus Worldwide Limited     Purchases of £30,352 (2016 - £Nil)

- Global Business Country Reports Ltd    Purchases of £14,282 (2016 - £Nil)

- International Biz News Services Ltd     Purchases of £238,781 (2016 - £2,082)