| financing | | | | | | |
| activities | | | | | | |
+---------------------+--------+-----------+--------+-----------+--------+-----------+
| | | | | | | |
+---------------------+--------+-----------+--------+-----------+--------+-----------+
| Net | | (176,601) | | (16,702) | | 221,352 |
| (decrease)/increase | | | | | | |
| in cash and cash | | | | | | |
| equivalents | | | | | | |
+---------------------+--------+-----------+--------+-----------+--------+-----------+
| | | | | | | |
+---------------------+--------+-----------+--------+-----------+--------+-----------+
| Cash | | 883,197 | | 661,845 | | 661,845 |
| and | | | | | | |
| cash | | | | | | |
| equivalents | | | | | | |
| at | | | | | | |
| beginning | | | | | | |
| of period | | | | | | |
+---------------------+--------+-----------+--------+-----------+--------+-----------+
| | | | | | | |
+---------------------+--------+-----------+--------+-----------+--------+-----------+
| Cash | 8 | 706,596 | | 645,143 | | 883,197 |
| and | | | | | | |
| cash | | | | | | |
| equivalents | | | | | | |
| at end of | | | | | | |
| period | | | | | | |
+---------------------+--------+-----------+--------+-----------+--------+-----------+
Notes to the condensed consolidated interim financial statements
1. Reporting entity
Immedia Group plc (the "Company") is a company incorporated and domiciled in the
United Kingdom. The address of the Company's registered office and its principal
place of business is The Old Brewery, The Broadway, Newbury, Berkshire RG14 1AU.
The condensed consolidated interim financial statements of the Company as at and
for the half year ended 30 June 2009 comprise the Company and its subsidiaries
(together referred to as the "Group"). The consolidated financial statements of
the Group as at and for the year ended 31 December 2008 are available on request
from the Company's registered office (address as above) or at www.immediaplc.com
The Group primarily is involved in marketing and communication services through
radio and screen based media.
2. Basis of preparation
These consolidated financial statements for the half year ended 30 June 2009 are
unaudited. They have been prepared and approved by the directors in accordance
with International Financial Reporting Standards as adopted by the EU ("Adopted
IFRSs"); they do not include all of the information required for full annual
financial statements, and should be read in conjunction with the consolidated
financial statements of the Group as at and for the year ended 31 December 2008.
The Group has applied revised IAS1 Presentation of Financial Statements (2007),
which became effective as of 1 January 2009, including the re-presentation of
comparative information in conformity with the revised standard.
On the basis of current financial projections prepared up to the end of 2010,
recent news of contract renewals, continuing improvements in management of
costs, and ongoing availability of facilities, the Directors are satisfied that
the Group has adequate resources to continue in operation for the foreseeable
future and consequently the financial statements have been prepared on the going
concern basis.
The financial statements were approved by the Board of Directors on 07 September
2009.
3. Significant accounting policies
The accounting policies set out in detail in note 3 of the Group's consolidated
financial statements to 31 December 2008 have been applied consistently to these
unaudited financial statements to 30 June 2009, including:
(a) Revenue
Revenue represents the amounts receivable by the Group for the provision of its
media services, related equipment and equipment maintenance services in the
normal course of business, excluding value added tax. Revenue from these
services and equipment is recognised on the date of broadcast or delivery,
respectively. Revenue from equipment maintenance services, sponsorship and
promotions is recognised over the life of the contract.
4. Property, plant and equipment
+--------------+-----------+-----------+-----------+------------+
| | Plant | Fixtures | Network | Total |
| | and | and | | |
+--------------+-----------+-----------+-----------+------------+
| | equipment | fittings | equipment | |
+--------------+-----------+-----------+-----------+------------+
| | GBP | GBP | GBP | GBP |
+--------------+-----------+-----------+-----------+------------+
| | | | | |
+--------------+-----------+-----------+-----------+------------+
| | | | | |
+--------------+-----------+-----------+-----------+------------+
| Cost | | | | |
+--------------+-----------+-----------+-----------+------------+
| At 1 | 695,484 | 396,938 | 659,509 | 1,751,931 |
| January | | | | |
| 2009 | | | | |
+--------------+-----------+-----------+-----------+------------+
| Additions | 6,045 | 13,437 | 1,036 | 20,518 |
+--------------+-----------+-----------+-----------+------------+
| Disposals | - | (430) | - | (430) |
+--------------+-----------+-----------+-----------+------------+
| | | | | |
+--------------+-----------+-----------+-----------+------------+
| At 30 | 701,529 | 409,945 | 660,545 | 1,772,019 |
| June | | | | |
| 2009 | | | | |
+--------------+-----------+-----------+-----------+------------+
| | | | | |
+--------------+-----------+-----------+-----------+------------+
| Depreciation | | | | |
| and | | | | |
| impairment | | | | |
| losses | | | | |
+--------------+-----------+-----------+-----------+------------+
| At 1 | 679,125 | 256,406 | 619,921 | 1,555,452 |
| January | | | | |
| 2009 | | | | |
+--------------+-----------+-----------+-----------+------------+
| Charge | 5,328 | 25,393 | 27,595 | 58,316 |
| for | | | | |
| period | | | | |
+--------------+-----------+-----------+-----------+------------+
| On | - | (47) | - | (47) |
| disposals | | | | |
+--------------+-----------+-----------+-----------+------------+
| | | | | |
+--------------+-----------+-----------+-----------+------------+
| At 30 | 684,453 | 281,752 | 647,516 | 1,613,721 |
| June | | | | |
| 2009 | | | | |
+--------------+-----------+-----------+-----------+------------+
| | | | | |
+--------------+-----------+-----------+-----------+------------+
| Carrying | | | | |
| amounts | | | | |
+--------------+-----------+-----------+-----------+------------+
| Unaudited | 17,076 | 128,193 | 13,029 | 158,298 |
| at 30 | | | | |
| June 2009 | | | | |
+--------------+-----------+-----------+-----------+------------+
| | | | | |
+--------------+-----------+-----------+-----------+------------+
| At 31 | 16,359 | 140,532 | 39,588 | 196,479 |
| December | | | | |
| 2008 | | | | |
+--------------+-----------+-----------+-----------+------------+
| | | | | |
+--------------+-----------+-----------+-----------+------------+
| Unaudited | 18,580 | 49,084 | 86,589 | 154,253 |
| at 30 | | | | | |