REGISTERED NUMBER:
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TAL MEDIA LIMITED |
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FINANCIAL STATEMENTS |
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FOR THE PERIOD |
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1 MAY 2020 TO 30 SEPTEMBER 2021 |
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REGISTERED NUMBER:
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TAL MEDIA LIMITED |
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FINANCIAL STATEMENTS |
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FOR THE PERIOD |
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1 MAY 2020 TO 30 SEPTEMBER 2021 |
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TAL MEDIA LIMITED (REGISTERED NUMBER: 04565185) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 MAY 2020 TO 30 SEPTEMBER 2021 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 | to | 7 |
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TAL MEDIA LIMITED |
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COMPANY INFORMATION |
FOR THE PERIOD 1 MAY 2020 TO 30 SEPTEMBER 2021 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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SENIOR STATUTORY AUDITOR: |
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AUDITORS: |
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14 London Road |
Newark |
Nottinghamshire |
NG24 1TW |
TAL MEDIA LIMITED (REGISTERED NUMBER: 04565185) |
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BALANCE SHEET |
30 SEPTEMBER 2021 |
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2021 | 2020 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Property, plant and equipment | 5 |
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CURRENT ASSETS |
Inventories |
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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 ASSETS |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
8 |
( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 11 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director and authorised for issue on
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TAL MEDIA LIMITED (REGISTERED NUMBER: 04565185) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 MAY 2020 TO 30 SEPTEMBER 2021 |
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1. | STATUTORY INFORMATION |
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Tal Media Limited is a
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The current accounting period is for 17 months. The year end was changed from 30 April to 30 September to align with the ultimate parent company. The comparative amounts included in the financial statements are therefore for a period of 12 months. |
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Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
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Revenue |
Revenue 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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Intangible fixed assets other than goodwill |
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. |
Website development is being amortised over its estimated useful life of three years. |
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Property, plant and equipment |
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Plant and machinery etc | - |
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Government grants |
Government grants are recognised when there is reasonable assurance that the grant will be received and any conditions attached will be complied with. Grants are recognised as income over the period necessary to match them with the related costs, for which they are intended to compensate, on a systematic basis. |
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Inventories |
Inventories are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition. Cost is calculated using a weighted average formula. Provisions are made for damaged, obsolete and slow-moving stock where appropriate. |
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At each reporting date, an assessment is made for impairment. Ant excess of the carrying amount of stocks over its estimated selling prices less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss. |
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TAL MEDIA LIMITED (REGISTERED NUMBER: 04565185) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 MAY 2020 TO 30 SEPTEMBER 2021 |
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2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the period 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. |
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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. |
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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 period 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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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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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. |
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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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The costs of short-term employee benefits are recognised as a liability and an expenses, unless those costs are required to be recognised as part of the cost of stock or fixed assets. The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Company contributions to defined contribution plans for the benefit of employee's are expensed as they become payable. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the period was
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TAL MEDIA LIMITED (REGISTERED NUMBER: 04565185) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 MAY 2020 TO 30 SEPTEMBER 2021 |
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4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
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COST |
At 1 May 2020 |
and 30 September 2021 |
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AMORTISATION |
At 1 May 2020 |
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Charge for period |
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At 30 September 2021 |
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NET BOOK VALUE |
At 30 September 2021 |
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At 30 April 2020 |
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5. | PROPERTY, PLANT AND EQUIPMENT |
Plant and |
machinery |
etc |
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COST |
At 1 May 2020 |
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Additions |
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At 30 September 2021 |
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DEPRECIATION |
At 1 May 2020 |
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Charge for period |
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At 30 September 2021 |
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NET BOOK VALUE |
At 30 September 2021 |
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At 30 April 2020 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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Other debtors |
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Prepayments |
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TAL MEDIA LIMITED (REGISTERED NUMBER: 04565185) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 MAY 2020 TO 30 SEPTEMBER 2021 |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Bank loans and overdrafts |
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Other loans |
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Trade creditors |
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Amounts owed to group undertakings |
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Other taxes and social security |
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Accruals and deferred income |
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8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2021 | 2020 |
£ | £ |
Bank loans - 1-2 years |
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9. | LEASING AGREEMENTS |
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Minimum lease payments under non-cancellable operating leases fall due as follows: |
2021 | 2020 |
£ | £ |
Within one year |
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Between one and five years |
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10. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2021 | 2020 |
£ | £ |
Other loans |
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Other loans are secured by fixed and floating charges over the company's net assets. |
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11. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2021 | 2020 |
value: | £ | £ |
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Ordinary | 1 | 143 | 143 |
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12. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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TAL MEDIA LIMITED (REGISTERED NUMBER: 04565185) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 MAY 2020 TO 30 SEPTEMBER 2021 |
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13. | GOVERNMENT GRANTS |
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Government grants refers to the amounts received from the coronavirus job retention scheme totalling £9,621 during the year. This is recognised in the period in which it relates. |