Mac Media (Leeds) Limited 07908541 false 2022-04-01 2023-03-31 2023-03-31 The principal activity of the company is marketing and public relations agency Digita Accounts Production Advanced 6.30.9574.0 true 07908541 2022-04-01 2023-03-31 07908541 2023-03-31 07908541 bus:OrdinaryShareClass1 2023-03-31 07908541 bus:Original 2023-03-31 07908541 core:RetainedEarningsAccumulatedLosses 2023-03-31 07908541 core:ShareCapital 2023-03-31 07908541 core:CurrentFinancialInstruments 2023-03-31 07908541 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 07908541 core:Non-currentFinancialInstruments 2023-03-31 07908541 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 07908541 core:Goodwill 2023-03-31 07908541 core:OtherPropertyPlantEquipment 2023-03-31 07908541 bus:SmallEntities 2022-04-01 2023-03-31 07908541 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 07908541 bus:FullAccounts 2022-04-01 2023-03-31 07908541 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 07908541 bus:RegisteredOffice 2022-04-01 2023-03-31 07908541 bus:Director1 2022-04-01 2023-03-31 07908541 bus:Director2 2022-04-01 2023-03-31 07908541 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 07908541 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 07908541 core:Goodwill 2022-04-01 2023-03-31 07908541 core:OtherPropertyPlantEquipment 2022-04-01 2023-03-31 07908541 core:PlantMachinery 2022-04-01 2023-03-31 07908541 countries:England 2022-04-01 2023-03-31 07908541 2022-03-31 07908541 core:Goodwill 2022-03-31 07908541 core:OtherPropertyPlantEquipment 2022-03-31 07908541 2021-04-01 2022-03-31 07908541 2022-03-31 07908541 bus:OrdinaryShareClass1 2022-03-31 07908541 core:RetainedEarningsAccumulatedLosses 2022-03-31 07908541 core:ShareCapital 2022-03-31 07908541 core:CurrentFinancialInstruments 2022-03-31 07908541 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 07908541 core:Non-currentFinancialInstruments 2022-03-31 07908541 core:Non-currentFinancialInstruments core:AfterOneYear 2022-03-31 07908541 core:Goodwill 2022-03-31 07908541 core:OtherPropertyPlantEquipment 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 07908541

Mac Media (Leeds) Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2023

 

Mac Media (Leeds) Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Mac Media (Leeds) Limited

Company Information

Directors

Miss Lisa Pickard

Mr Mike McMurrough

Registered office

Suite 4 Evans Business Centre
Burley Hill
Burley Road
Leeds
LS4 2PU

 

Mac Media (Leeds) Limited

(Registration number: 07908541)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

1

1

Tangible assets

5

297

978

 

298

979

Current assets

 

Debtors

6

16,101

11,077

Cash at bank and in hand

 

173,898

218,929

 

189,999

230,006

Creditors: Amounts falling due within one year

7

(58,016)

(60,922)

Net current assets

 

131,983

169,084

Total assets less current liabilities

 

132,281

170,063

Creditors: Amounts falling due after more than one year

7

(21,369)

(29,222)

Net assets

 

110,912

140,841

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

110,812

140,741

Shareholders' funds

 

110,912

140,841

For the financial year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 22 November 2023 and signed on its behalf by:
 

 

Mac Media (Leeds) Limited

(Registration number: 07908541)
Balance Sheet as at 31 March 2023

.........................................
Mr Mike McMurrough
Director

 

Mac Media (Leeds) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Suite 4 Evans Business Centre
Burley Hill
Burley Road
Leeds
LS4 2PU

These financial statements were authorised for issue by the Board on 22 November 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Mac Media (Leeds) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Other assets

33% straight line or 25% reducing blalance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10% straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Mac Media (Leeds) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2022 - 5).

 

Mac Media (Leeds) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 April 2022

75,000

75,000

At 31 March 2023

75,000

75,000

Amortisation

At 1 April 2022

74,999

74,999

At 31 March 2023

74,999

74,999

Carrying amount

At 31 March 2023

1

1

At 31 March 2022

1

1

5

Tangible assets

Other tangible assets
£

Total
£

Cost or valuation

At 1 April 2022

11,994

11,994

At 31 March 2023

11,994

11,994

Depreciation

At 1 April 2022

11,016

11,016

Charge for the year

681

681

At 31 March 2023

11,697

11,697

Carrying amount

At 31 March 2023

297

297

At 31 March 2022

978

978

6

Debtors

 

Mac Media (Leeds) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Current

2023
£

2022
£

Trade debtors

16,101

11,077

 

16,101

11,077

 

Mac Media (Leeds) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

9

32,264

31,480

Trade creditors

 

36

-

Taxation and social security

 

24,240

27,372

Accruals and deferred income

 

1,476

1,650

Other creditors

 

-

420

 

58,016

60,922

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

21,369

29,222

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         

9

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

21,369

29,222

 

Mac Media (Leeds) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

2023
£

2022
£

Current loans and borrowings

Bank borrowings

7,790

7,630

Other borrowings

24,474

23,850

32,264

31,480