Silverfin false 31/03/2023 01/04/2022 31/03/2023 Mr T Dollimore 14/03/2011 Mr D Perry 08/04/2013 24 November 2023 The principal activity of the Company during the financial year was digital production and development. 07562043 2023-03-31 07562043 bus:Director1 2023-03-31 07562043 bus:Director2 2023-03-31 07562043 2022-03-31 07562043 core:CurrentFinancialInstruments 2023-03-31 07562043 core:CurrentFinancialInstruments 2022-03-31 07562043 core:Non-currentFinancialInstruments 2023-03-31 07562043 core:Non-currentFinancialInstruments 2022-03-31 07562043 core:ShareCapital 2023-03-31 07562043 core:ShareCapital 2022-03-31 07562043 core:RetainedEarningsAccumulatedLosses 2023-03-31 07562043 core:RetainedEarningsAccumulatedLosses 2022-03-31 07562043 core:Vehicles 2022-03-31 07562043 core:OfficeEquipment 2022-03-31 07562043 core:Vehicles 2023-03-31 07562043 core:OfficeEquipment 2023-03-31 07562043 bus:OrdinaryShareClass1 2023-03-31 07562043 bus:OrdinaryShareClass2 2023-03-31 07562043 2022-04-01 2023-03-31 07562043 bus:FullAccounts 2022-04-01 2023-03-31 07562043 bus:SmallEntities 2022-04-01 2023-03-31 07562043 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 07562043 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 07562043 bus:Director1 2022-04-01 2023-03-31 07562043 bus:Director2 2022-04-01 2023-03-31 07562043 core:Vehicles 2022-04-01 2023-03-31 07562043 core:OfficeEquipment 2022-04-01 2023-03-31 07562043 2021-04-01 2022-03-31 07562043 core:Non-currentFinancialInstruments 2022-04-01 2023-03-31 07562043 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 07562043 bus:OrdinaryShareClass1 2021-04-01 2022-03-31 07562043 bus:OrdinaryShareClass2 2022-04-01 2023-03-31 07562043 bus:OrdinaryShareClass2 2021-04-01 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 07562043 (England and Wales)

THE MEDIA WORKSHOP LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2023
Pages for filing with the registrar

THE MEDIA WORKSHOP LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2023

Contents

THE MEDIA WORKSHOP LIMITED

BALANCE SHEET

As at 31 March 2023
THE MEDIA WORKSHOP LIMITED

BALANCE SHEET (continued)

As at 31 March 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 25,182 26,658
25,182 26,658
Current assets
Debtors 4 105,237 115,729
Cash at bank and in hand 9,005 768
114,242 116,497
Creditors: amounts falling due within one year 5 ( 88,121) ( 100,104)
Net current assets 26,121 16,393
Total assets less current liabilities 51,303 43,051
Creditors: amounts falling due after more than one year 6 ( 36,300) ( 37,878)
Provision for liabilities ( 4,764) ( 5,050)
Net assets 10,239 123
Capital and reserves
Called-up share capital 7 100 100
Profit and loss account 10,139 23
Total shareholders' funds 10,239 123

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 financial statements of The Media Workshop Limited (registered number: 07562043) were approved and authorised for issue by the Board of Directors on 24 November 2023. They were signed on its behalf by:

Mr T Dollimore
Director
THE MEDIA WORKSHOP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
THE MEDIA WORKSHOP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

The Media Workshop Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is The Media Workshop Dart Mills, Old Totnes Rd, Buckfastleigh, TQ11 0NF, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

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 value added tax, returns, rebates and discounts and after eliminating sales within the company.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Vehicles 25 % reducing balance
Office equipment 33 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 3 3

3. Tangible assets

Vehicles Office equipment Total
£ £ £
Cost
At 01 April 2022 2,001 120,482 122,483
Additions 0 9,322 9,322
At 31 March 2023 2,001 129,804 131,805
Accumulated depreciation
At 01 April 2022 1,156 94,669 95,825
Charge for the financial year 211 10,587 10,798
At 31 March 2023 1,367 105,256 106,623
Net book value
At 31 March 2023 634 24,548 25,182
At 31 March 2022 845 25,813 26,658

4. Debtors

2023 2022
£ £
Trade debtors 3,276 25,718
Other debtors 101,961 90,011
105,237 115,729

5. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 5,880 10,188
Trade creditors 7,824 7,014
Taxation and social security 64,946 72,798
Other creditors 9,471 10,104
88,121 100,104

6. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 36,300 37,878

There are no amounts included above in respect of which any security has been given by the small entity.

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
80 Ordinary A shares of £ 1.00 each 80 80
20 Ordinary B shares of £ 1.00 each 20 20
100 100

8. Related party transactions

Transactions with the entity's directors

2023 2022
£ £
Director - T Dollimore 0 0
At 1 April 66,156 35,947
Advances to director 29,754 30,909
Repayments by director (22,495) (700)
0 0
At 31 March 73,415 66,156
0 0
Director - D Perry 0 0
At 1 April (6,805) (9,572)
Advances to director 0 3,217
Repayments by director 0 (450)
0 0
At 31 March (6,805) (6,805)
0 0