8
false
false
false
false
false
false
false
false
false
true
false
false
false
false
false
false
No description of principal activity
2020-01-01
Sage Accounts Production Advanced 2020 - FRS102_2019
48,893
48,893
11,344
9,815
786
10,601
743
1,529
xbrli:pure
xbrli:shares
iso4217:GBP
01993193
2020-01-01
2020-12-31
01993193
2020-12-31
01993193
2019-12-31
01993193
2019-01-01
2019-12-31
01993193
2019-12-31
01993193
core:DevelopmentCostsCapitalisedDevelopmentExpenditure
2020-01-01
2020-12-31
01993193
bus:Director3
2020-01-01
2020-12-31
01993193
core:DevelopmentCostsCapitalisedDevelopmentExpenditure
2020-12-31
01993193
core:WithinOneYear
2020-12-31
01993193
core:WithinOneYear
2019-12-31
01993193
core:AfterOneYear
2020-12-31
01993193
core:ShareCapital
2020-12-31
01993193
core:ShareCapital
2019-12-31
01993193
core:RetainedEarningsAccumulatedLosses
2020-12-31
01993193
core:RetainedEarningsAccumulatedLosses
2019-12-31
01993193
bus:SmallEntities
2020-01-01
2020-12-31
01993193
bus:Audited
2020-01-01
2020-12-31
01993193
bus:FullAccounts
2020-01-01
2020-12-31
01993193
bus:SmallCompaniesRegimeForAccounts
2020-01-01
2020-12-31
01993193
bus:PrivateLimitedCompanyLtd
2020-01-01
2020-12-31
01993193
core:ComputerEquipment
2020-01-01
2020-12-31
01993193
core:ComputerEquipment
2020-12-31
01993193
core:ComputerEquipment
2019-12-31
COMPANY REGISTRATION NUMBER:
01993193
Nexus Media Events Limited
|
|
Filleted Financial Statements
|
|
Nexus Media Events Limited
|
|
Statement of Financial Position
|
|
31 December 2020
Fixed assets
Tangible assets
|
6
|
|
743
|
1,529
|
|
|
|
|
|
Current assets
Debtors
|
7
|
3,852,918
|
|
3,359,323
|
Cash at bank and in hand
|
10,684
|
|
10,533
|
|
------------
|
|
------------
|
|
3,863,602
|
|
3,369,856
|
|
|
|
|
|
Creditors: amounts falling due within one year
|
8
|
(
1,165,898)
|
|
(
1,278,049)
|
|
------------
|
|
------------
|
Net current assets
|
|
2,697,704
|
2,091,807
|
|
|
------------
|
------------
|
Total assets less current liabilities
|
|
2,698,447
|
2,093,336
|
|
|
|
|
|
Creditors: amounts falling due after more than one year
|
9
|
|
(
150,000)
|
–
|
|
|
------------
|
------------
|
Net assets
|
|
2,548,447
|
2,093,336
|
|
|
------------
|
------------
|
|
|
|
|
|
Capital and reserves
Called up share capital
|
|
50,000
|
50,000
|
Profit and loss account
|
|
2,498,447
|
2,043,336
|
|
|
------------
|
------------
|
Shareholder funds
|
|
2,548,447
|
2,093,336
|
|
|
------------
|
------------
|
|
|
|
|
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.
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.
These financial statements were approved by the
board of directors
and authorised for issue on
23 June 2021
, and are signed on behalf of the board by:
Company registration number:
01993193
Nexus Media Events Limited
|
|
Notes to the Financial Statements
|
|
Year ended 31 December 2020
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 208, Canalot Studios, 222 Kensal Road Road, London, W10 5BN, England.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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 at fair value through profit or loss as set out in the accounting policies below. The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The financial statements have been prepared on the going concern basis which assumes the continuing financial support of the ultimate parent company. The directors have received confirmation that this financial support will continue to be provided for the foreseeable future to enable the company to continue as a going concern and to settle its liabilities as and when they fall due for a period of not less than 12 months from the date the accounts are approved.
Revenue recognition
Turnover represents the amounts derived from the provision of goods and services which fall within the company's ordinary activities, stated net of VAT. Book sales and advertising revenues are recognised on the despatch date of the relevant business publication. Subscription revenue is recognised over the period of the subscription. Internet revenue is recognised over the period of the contract or on a "click through" basis, dependent on the contract terms.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses
.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
|
Website
|
-
|
33% straight line
|
|
|
|
|
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and 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:
|
Equipment
|
-
|
33% straight line
|
|
|
|
|
Impairment of fixed assets
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.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Trade and other debtors Trade and other debtors are initially recognised at the transaction price and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment for bad and doubtful debts. Cash and cash equivalents Cash and cash equivalents comprise cash at bank and on hand. Trade and other creditors Trade and other creditors are initially recognised at the transaction price and are thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
8
(2019:
6
).
5.
Intangible assets
|
Website
|
|
£
|
Cost
|
|
At 1 January 2020 and 31 December 2020
|
48,893
|
|
--------
|
Amortisation
|
|
At 1 January 2020 and 31 December 2020
|
48,893
|
|
--------
|
Carrying amount
|
|
At 31 December 2020
|
–
|
|
--------
|
At 31 December 2019
|
–
|
|
--------
|
|
|
6.
Tangible assets
|
Equipment
|
Total
|
|
£
|
£
|
Cost
|
|
|
At 1 January 2020 and 31 December 2020
|
11,344
|
11,344
|
|
--------
|
--------
|
Depreciation
|
|
|
At 1 January 2020
|
9,815
|
9,815
|
Charge for the year
|
786
|
786
|
|
--------
|
--------
|
At 31 December 2020
|
10,601
|
10,601
|
|
--------
|
--------
|
Carrying amount
|
|
|
At 31 December 2020
|
743
|
743
|
|
--------
|
--------
|
At 31 December 2019
|
1,529
|
1,529
|
|
--------
|
--------
|
|
|
|
7.
Debtors
|
2020
|
2019
|
|
£
|
£
|
Trade debtors
|
15,908
|
385,178
|
Amounts owed by group undertakings and undertakings in which the company has a participating interest
|
3,701,158
|
2,836,711
|
Other debtors
|
135,852
|
137,434
|
|
------------
|
------------
|
|
3,852,918
|
3,359,323
|
|
------------
|
------------
|
|
|
|
The amounts owed by the group undertakings are interest-free and unsecured with no fixed repayment terms
.
8.
Creditors:
amounts falling due within one year
|
2020
|
2019
|
|
£
|
£
|
Bank loans and overdrafts
|
262,778
|
34,126
|
Trade creditors
|
322,073
|
414,062
|
Social security and other taxes
|
69,532
|
–
|
Other creditors
|
511,515
|
829,861
|
|
------------
|
------------
|
|
1,165,898
|
1,278,049
|
|
------------
|
------------
|
|
|
|
A fixed and floating charge, containing a negative pledge is in place covering all the property and undertakings of the company.
9.
Creditors:
amounts falling due after more than one year
|
2020
|
2019
|
|
£
|
£
|
Bank loans and overdrafts
|
150,000
|
–
|
|
---------
|
----
|
|
|
|
10.
Summary audit opinion
The auditor's report for the year dated 15 July 2021 was unqualified.
The senior statutory auditor was
Stephen Foster
, for and on behalf of
Shipleys LLP
.
11.
Controlling party
The parent undertaking of the company is
Columbus Media and Events Limited
, a company incorporated in England and Wales. The address of the registered office of the parent undertaking is Unit 208, Canalot Studios, 222 Kensal Road, London, W10 5BN. The ultimate parent company is Ergo Science Corporation
, a company incorporated in the United States of America.