REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023 |
FOR |
RIGHTS AND MEDIA FUNDING LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023 |
FOR |
RIGHTS AND MEDIA FUNDING LIMITED |
RIGHTS AND MEDIA FUNDING LIMITED (REGISTERED NUMBER: 07575619) |
CONTENTS OF THE FINANCIAL STATEMENTS |
For The Year Ended 30 June 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
RIGHTS AND MEDIA FUNDING LIMITED |
COMPANY INFORMATION |
For The Year Ended 30 June 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
1 Park Street |
Macclesfield |
Cheshire |
SK11 6SR |
BANKERS: |
440 Strand |
London |
WC2R 0QS |
RIGHTS AND MEDIA FUNDING LIMITED (REGISTERED NUMBER: 07575619) |
BALANCE SHEET |
30 June 2023 |
30.6.23 | 30.6.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
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. |
RIGHTS AND MEDIA FUNDING LIMITED (REGISTERED NUMBER: 07575619) |
BALANCE SHEET - continued |
30 June 2023 |
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 |
RIGHTS AND MEDIA FUNDING LIMITED (REGISTERED NUMBER: 07575619) |
NOTES TO THE FINANCIAL STATEMENTS |
For The Year Ended 30 June 2023 |
1. | STATUTORY INFORMATION |
Rights and Media Funding 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. |
Tangible fixed assets |
Plant and machinery etc | - |
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. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2022 - NIL). |
RIGHTS AND MEDIA FUNDING LIMITED (REGISTERED NUMBER: 07575619) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 30 June 2023 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 July 2022 |
Additions |
Disposals | ( |
) |
At 30 June 2023 |
DEPRECIATION |
At 1 July 2022 |
Charge for year |
Eliminated on disposal | ( |
) |
At 30 June 2023 |
NET BOOK VALUE |
At 30 June 2023 |
At 30 June 2022 |
5. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST |
At 1 July 2022 |
and 30 June 2023 |
NET BOOK VALUE |
At 30 June 2023 |
At 30 June 2022 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.23 | 30.6.22 |
£ | £ |
Amounts owed by associates |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.23 | 30.6.22 |
£ | £ |
Amounts owed to associates | 275,000 | - |
Taxation and social security |
Other creditors |
RIGHTS AND MEDIA FUNDING LIMITED (REGISTERED NUMBER: 07575619) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 30 June 2023 |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
30.6.23 | 30.6.22 |
£ | £ |
Other creditors | 321,185,365 | 298,474,363 |
Rights and Media Funding Ltd entered into debentures pursuant to which Rights and Media Funding Ltd granted security over its assets and undertakings. Share charges were entered into on the same dates pursuant to which the shareholders of Rights and Media Funding Ltd have granted charges over the shares of Rights and Media Funding Ltd. |
The debentures and share charges are on an all monies basis and capture all obligations due, owing or incurred by Rights and Media Funding Ltd at any time. |
9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the years ended 30 June 2023 and 30 June 2022: |
30.6.23 | 30.6.22 |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
10. | RELATED PARTY DISCLOSURES |
Fees of £137,500 (2022: £75,000) have been paid to Randolphe & Knight Ltd. |
D A McKnight is a director and shareholder of Randolphe & Knight Ltd. |
11. | TRANSITION TO FRS102A |
RECONCILIATION OF PROFIT AND RESERVES ON TRANSITION FROM FRS105 TO FRS102A |
£ |
Profit for year ended 30 June 2022 under FRS105 21049 |
Adjustment for deferred tax -1757 |
_____ |
Profit for year ended 30 June 2022 under FRS102A 19292 |
_____ |
Retained earnings at 30 June 2022 under FRS105 113798 |
Adjustment for deferred tax -1757 |
______ |
Retained earnings at 30 June 2022 under FRS102A 112041 |
______ |