Registered number
08494395
MEDIA NATIVE LTD
Filleted Accounts
30 April 2023
MEDIA NATIVE LTD
Registered number: 08494395
Balance Sheet
as at 30 April 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 3,680 4,488
Investments 4 84,191 84,191
87,871 88,679
Current assets
Debtors 5 3,276 6,240
Cash at bank and in hand 27,441 16,985
30,717 23,225
Creditors: amounts falling due within one year 6 (58,259) (45,658)
Net current liabilities (27,542) (22,433)
Net assets 60,329 66,246
Capital and reserves
Called up share capital 1 1
Profit and loss account 60,328 66,245
Shareholders' funds 60,329 66,246
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
D Brennan
Director
Approved by the board on 3 August 2023
MEDIA NATIVE LTD
Notes to the Accounts
for the year ended 30 April 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment 18% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery
£
Cost
At 1 May 2022 16,159
At 30 April 2023 16,159
Depreciation
At 1 May 2022 11,671
Charge for the year 808
At 30 April 2023 12,479
Net book value
At 30 April 2023 3,680
At 30 April 2022 4,488
4 Investments
Other
investments
£
Cost
At 1 May 2022 84,191
At 30 April 2023 84,191
5 Debtors 2023 2022
£ £
Trade debtors 3,276 6,240
6 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 10,142 8,680
Other creditors 48,117 36,978
58,259 45,658
7 Controlling party
The company is under no individual control.
8 Other information
MEDIA NATIVE LTD is a private company limited by shares and incorporated in England. Its registered office is:
241 Mitcham Road
Tooting
London
SW17 9JQ
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