2022-04-012023-03-312023-03-31false04724694SIMPLY MEDIA TV 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SIMPLY MEDIA TV LIMITED

Registered Number
04724694
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2023

SIMPLY MEDIA TV LIMITED
Company Information
for the year from 1 April 2022 to 31 March 2023

Directors

HOPKINS, Gary Paul
HOPKINS, Jake Oliver

Registered Address

76 Epsom Lane North
Epsom
KT18 5QA

Registered Number

04724694 (England and Wales)
SIMPLY MEDIA TV LIMITED
Balance Sheet as at
31 March 2023

Notes

2023

2022

£

£

£

£

Current assets
Stocks47,44565,581
Debtors6155,886311,379
Cash at bank and on hand80,755179,257
284,086556,217
Creditors amounts falling due within one year7(221,128)(340,488)
Net current assets (liabilities)62,958215,729
Total assets less current liabilities62,958215,729
Net assets62,958215,729
Capital and reserves
Called up share capital11,80511,805
Profit and loss account51,153203,924
Shareholders' funds62,958215,729
The financial statements were approved and authorised for issue by the Board of Directors on 6 November 2023, and are signed on its behalf by:
HOPKINS, Gary Paul
Director
Registered Company No. 04724694
SIMPLY MEDIA TV LIMITED
Notes to the Financial Statements
for the year ended 31 March 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Accounting policies
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Fixtures and fittings3
Office Equipment3
Stocks policy
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Revenue recognition policy
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Deferred tax policy
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.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
4.Employee information

20232022
Average number of employees during the year35
5.Property, plant and equipment

Total

£
Cost or valuation
At 01 April 2253,424
At 31 March 2353,424
Depreciation and impairment
At 01 April 2253,424
At 31 March 2353,424
Net book value
At 31 March 23-
At 31 March 22-
6.Debtors

2023

2022

££
Trade debtors / trade receivables90,380171,085
Other debtors62,416106,327
Prepayments and accrued income3,09033,967
Total155,886311,379
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.
7.Creditors within one year

2023

2022

££
Trade creditors / trade payables39,98557,737
Amounts owed to related parties88,500-
Taxation and social security19,41113,388
Other creditors-180,000
Accrued liabilities and deferred income73,23289,363
Total221,128340,488
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.