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FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2019 |
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MEDIATECH CONSULTING LIMITED |
REGISTERED NUMBER:
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FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2019 |
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FOR |
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MEDIATECH CONSULTING LIMITED |
MEDIATECH CONSULTING LIMITED (REGISTERED NUMBER: 07023146) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 30 September 2019 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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MEDIATECH CONSULTING LIMITED |
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COMPANY INFORMATION |
for the Year Ended 30 September 2019 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
10 London Mews |
Paddington |
London |
W2 1HY |
MEDIATECH CONSULTING LIMITED (REGISTERED NUMBER: 07023146) |
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BALANCE SHEET |
30 September 2019 |
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30.9.19 | 30.9.18 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investments | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
( |
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( |
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PROVISIONS FOR LIABILITIES |
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NET LIABILITIES | ( |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings | ( |
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( |
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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. |
MEDIATECH CONSULTING LIMITED (REGISTERED NUMBER: 07023146) |
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BALANCE SHEET - continued |
30 September 2019 |
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In accordance with Section 444 of the Companies Act 2006, the Profit and loss has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
signed on its behalf by: |
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MEDIATECH CONSULTING LIMITED (REGISTERED NUMBER: 07023146) |
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NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 30 September 2019 |
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1. | STATUTORY INFORMATION |
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Mediatech Consulting Limited is a
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company's registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" |
of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of |
Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost |
convention. |
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Going Concern |
The financial statements have been prepared on the going concern basis as the directors believe that adequate |
cash resources will be available to cover the company's requirements for working capital and capital expenditure |
for at least the next twelve months. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
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Turnover for both provision of services and utlisation of company's asset are recognised within the period |
provided. |
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Tangible fixed assets |
Tangible fixed assets 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 ny management. |
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Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful |
lives as indicated below: |
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Depreciation is provided on the following basis: |
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Plant and machinery etc - straight line over 25 years |
Computer equipment - 25% SL |
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The assets' residual values, useful lives and depreciation methods are reviewed annually and adjusted |
accordingly if applicable. |
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Financial instruments |
The Company only enters into basic financial instruments transactions that result in the recognition of financial |
assets and liabilities like trade and other debtors and creditors and loans to related parties. |
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The basic financial debtors and liabilities as listed above 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 payments/receipts discounted at a market rate of interest. Such instruments are subsequently carried at |
amortised costs using the effective interest method, less any impairment. An impairment review is undertaken |
annually at the balance sheet date. |
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Taxation |
Tax is recognised in the Profit and loss, except to the extent that it relates to items recognised in other |
comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
MEDIATECH CONSULTING LIMITED (REGISTERED NUMBER: 07023146) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 30 September 2019 |
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2. | ACCOUNTING POLICIES - continued |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
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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. |
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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. |
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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. |
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Investments in joint ventures |
Investments in joint ventures are recognised at cost. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Plant and | Computer |
machinery | equipment | Totals |
£ | £ | £ |
COST |
At 1 October 2018 |
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Additions |
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At 30 September 2019 |
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DEPRECIATION |
At 1 October 2018 |
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Charge for year |
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At 30 September 2019 |
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NET BOOK VALUE |
At 30 September 2019 |
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At 30 September 2018 |
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MEDIATECH CONSULTING LIMITED (REGISTERED NUMBER: 07023146) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 30 September 2019 |
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5. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST |
At 1 October 2018 |
and 30 September 2019 |
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NET BOOK VALUE |
At 30 September 2019 |
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At 30 September 2018 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.9.19 | 30.9.18 |
£ | £ |
Trade debtors |
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Amounts owed by joint ventures |
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Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.9.19 | 30.9.18 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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8. | RESERVES |
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During the year dividends of £16,400 (2018: £6,000) were declared from the company's reserves. The only other |
movement in the retained earnings in the current year is the result for the year. In the previous year the deferred |
tax liability was decreased by £7,464. As at 30 September 2019 the company has non-distributable reserves in |
the sum of £5,098 (2018:£5,098). |
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As at the year end the shareholders have agreed to repay the dividends on demand if required. |
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9. | RELATED PARTY DISCLOSURES |
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As at 30 September 2019 the company owed its directors £436,650 (2018: £392,756). The company also owed |
£1,902,500 to a company which is indirectly owed 100% by the directors and controlling party of Mediatech |
Consulting Limited. As at 30 September 2018 the amount owed was in the sum of £1,160,500. All loans are |
repayable on demand, no interest is payable on the loan. |
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As at 30 September 2019 the company was owed £1,265,873 (2018:£473,638) from one of its joint ventures. |
The loan is repayable on demand and no interest is receivable on the loan. |