Echo Digital Media Limited 30/09/2022 iXBRL

Echo Digital Media Limited 30/09/2022 iXBRL


13 30/09/2022 2022-09-30 false false false false false false false false false false true false false true false false false false false true false No description of principal activities is disclosed 2021-10-01 Sage Accounts Production 21.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 07384798 2021-10-01 2022-09-30 07384798 2022-09-30 07384798 2021-09-30 07384798 2020-10-01 2021-09-30 07384798 2021-09-30 07384798 bus:RegisteredOffice 2021-10-01 2022-09-30 07384798 bus:OrdinaryShareClass1 2021-10-01 2022-09-30 07384798 bus:OrdinaryShareClass2 2021-10-01 2022-09-30 07384798 bus:OrdinaryShareClass3 2021-10-01 2022-09-30 07384798 bus:LeadAgentIfApplicable 2021-10-01 2022-09-30 07384798 bus:Director1 2021-10-01 2022-09-30 07384798 bus:Director2 2021-10-01 2022-09-30 07384798 bus:Director3 2021-10-01 2022-09-30 07384798 bus:Director4 2021-10-01 2022-09-30 07384798 core:NetGoodwill 2022-09-30 07384798 core:FurnitureFittingsToolsEquipment 2021-09-30 07384798 core:FurnitureFittingsToolsEquipment 2022-09-30 07384798 core:WithinOneYear 2022-09-30 07384798 core:WithinOneYear 2021-09-30 07384798 bus:AllOrdinaryShares 2021-10-01 2022-09-30 07384798 bus:AllOrdinaryShares 2020-10-01 2021-09-30 07384798 core:ShareCapital 2022-09-30 07384798 core:ShareCapital 2021-09-30 07384798 core:RetainedEarningsAccumulatedLosses 2022-09-30 07384798 core:RetainedEarningsAccumulatedLosses 2021-09-30 07384798 bus:OrdinaryShareClass1 core:ShareCapital 2022-09-30 07384798 bus:OrdinaryShareClass1 core:ShareCapital 2021-09-30 07384798 bus:OrdinaryShareClass2 core:ShareCapital 2022-09-30 07384798 bus:OrdinaryShareClass2 core:ShareCapital 2021-09-30 07384798 bus:OrdinaryShareClass3 core:ShareCapital 2022-09-30 07384798 bus:OrdinaryShareClass3 core:ShareCapital 2021-09-30 07384798 core:FurnitureFittingsToolsEquipment 2021-10-01 2022-09-30 07384798 core:NetGoodwill 2021-09-30 07384798 core:FurnitureFittingsToolsEquipment 2021-09-30 07384798 bus:SmallEntities 2021-10-01 2022-09-30 07384798 bus:AuditExemptWithAccountantsReport 2021-10-01 2022-09-30 07384798 bus:FullAccounts 2021-10-01 2022-09-30 07384798 bus:SmallCompaniesRegimeForAccounts 2021-10-01 2022-09-30 07384798 bus:PrivateLimitedCompanyLtd 2021-10-01 2022-09-30
Company registration number: 07384798
Echo Digital Media Limited
Unaudited filleted financial statements
for the year ended
30 September 2022
Prepared by:
THOMAS NOCK MARTIN LIMITED
CHARTERED ACCOUNTANTS
BRIERLEY HILL
Echo Digital Media Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Echo Digital Media Limited
Directors and other information
Directors Richard Thornton
Paul Callaghan
James Cronie
Graeme Bailey
Company number 07384798
Registered office 5 Hagley Court South
The Waterfront
Brierley Hill
West Midlands
DY5 1XE
Business address 17 Manor Way
Belasis Hall Technology Park
Billingham
TS23 4HN
Accountants Thomas Nock Martin Limited
5 Hagley Court South
The Waterfront
Brierley Hill
West Midlands
DY5 1XE
Echo Digital Media Limited
Chartered accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of Echo Digital Media Limited
Year ended 30 September 2022
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Echo Digital Media Limited for the year ended 30 September 2022 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the board of directors of Echo Digital Media Limited, as a body, in accordance with the terms of our engagement letter dated 23 February 2022. Our work has been undertaken solely to prepare for your approval the financial statements of Echo Digital Media Limited and state those matters that we have agreed to state to the board of directors of Echo Digital Media Limited as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Echo Digital Media Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Echo Digital Media Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Echo Digital Media Limited. You consider that Echo Digital Media Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Echo Digital Media Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Thomas Nock Martin Limited
Chartered Accountants
5 Hagley Court South
The Waterfront
Brierley Hill
West Midlands
DY5 1XE
11 April 2023
Echo Digital Media Limited
Statement of financial position
30 September 2022
2022 2021
Note £ £ £ £
Fixed assets
Intangible assets 6 - -
Tangible assets 7 6,141 6,419
_______ _______
6,141 6,419
Current assets
Debtors 8 74,576 86,501
Cash at bank and in hand 372,513 357,859
_______ _______
447,089 444,360
Creditors: amounts falling due
within one year 9 ( 50,944) ( 83,545)
_______ _______
Net current assets 396,145 360,815
_______ _______
Total assets less current liabilities 402,286 367,234
Provisions for liabilities ( 1,500) ( 1,220)
_______ _______
Net assets 400,786 366,014
_______ _______
Capital and reserves
Called up share capital 10 100 100
Profit and loss account 400,686 365,914
_______ _______
Shareholders funds 400,786 366,014
_______ _______
For the year ending 30 September 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- 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;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 11 April 2023 , and are signed on behalf of the board by:
Paul Callaghan
Director
Company registration number: 07384798
Echo Digital Media Limited
Notes to the financial statements
Year ended 30 September 2022
1. General information
The company is a private company limited by shares, registered in United Kingdom. The address of the registered office is 5 Hagley Court South, The Waterfront, Brierley Hill, West Midlands, DY5 1XE.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover represents the value of work done, excluding value added tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. 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 capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
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.
Research and development
Research expenditure is written off in the year in which it is incurred.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures, fittings & computer equipment - 15% reducing balance and 33% straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade debtors and trade creditors, other debtors and creditors.Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.
Defined contribution plans
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. Employee numbers
The average number of persons employed by the company during the year amounted to 13 (2021: 13 ).
5. Dividends
Equity dividends
2022 2021
£ £
Dividends paid during the year (excluding those for which a liability existed at the end of the prior year) 40,000 40,000
_______ _______
6. Intangible assets
Goodwill Total
£ £
Cost
At 1 October 2021 and 30 September 2022 1,500 1,500
_______ _______
Amortisation
At 1 October 2021 and 30 September 2022 1,500 1,500
_______ _______
Carrying amount
At 30 September 2022 - -
_______ _______
At 30 September 2021 - -
_______ _______
7. Tangible assets
Fixtures, fittings and equipment Total
£ £
Cost
At 1 October 2021 42,658 42,658
Additions 2,604 2,604
_______ _______
At 30 September 2022 45,262 45,262
_______ _______
Depreciation
At 1 October 2021 36,239 36,239
Charge for the year 2,882 2,882
_______ _______
At 30 September 2022 39,121 39,121
_______ _______
Carrying amount
At 30 September 2022 6,141 6,141
_______ _______
At 30 September 2021 6,419 6,419
_______ _______
8. Debtors
2022 2021
£ £
Trade debtors 69,549 81,521
Other debtors 5,027 4,980
_______ _______
74,576 86,501
_______ _______
9. Creditors: amounts falling due within one year
2022 2021
£ £
Trade creditors 8,456 37,646
Corporation tax 16,765 12,975
Social security and other taxes 21,973 21,535
Other creditors 3,750 11,389
_______ _______
50,944 83,545
_______ _______
10. Called up share capital
Issued, called up and fully paid
2022 2021
No £ No £
Ordinary A shares of £ 1.00 each 10 10 10 10
Ordinary B shares of £ 1.00 each 10 10 10 10
Ordinary C shares of £ 1.00 each 80 80 80 80
_______ _______ _______ _______
100 100 100 100
_______ _______ _______ _______
11. Related party transactions
During the year, the company paid management charges of £20,000 (2021 £75,000) to BM Group Holdings Limited, the parent company. At the balance sheet date £nil (2021 £nil) was outstanding.
12. Controlling party
BM Group Holdings Limited, the ultimate parent company, controls the company by virtue of a controlling interest of 80% of the issued share capital.The registered office address of BM Group Holdings Limited is:5 Hagley Court South The WaterfrontBrierley HillWest MidlandsDY5 1XEThe principal place of business of BM Group Holdings Limited is:The CrossMain StreetPenpontThornhillDumfriesshireDG3 4BP