Company registration number 08077266 (England and Wales)
GOLDEN MEDIA PRODUCTIONS LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE CESSATION YEAR ENDED 30 SEPTEMBER 2023
PAGES FOR FILING WITH REGISTRAR
GOLDEN MEDIA PRODUCTIONS LIMITED
COMPANY INFORMATION
Directors
Mr C Goulden
Mrs J Goulden
Secretary
Mr C Goulden
Company number
08077266
Registered office
Hedley Court
Boothferry Road
Goole
East Yorkshire
United Kingdom
DN14 6AA
Accountants
Jones Cooper Limited
Hedley Court
Boothferry Road
Goole
East Yorkshire
United Kingdom
DN14 6AA
GOLDEN MEDIA PRODUCTIONS LIMITED
DIRECTORS' REPORT
FOR THE CESSATION YEAR ENDED 30 SEPTEMBER 2023
- 1 -

The directors present their annual report and financial statements for the Cessation Year ended 30 September 2023.

Principal activities

The principal activity of the company continued to be that of aerial filming and photography.

Directors

The directors who held office during the Cessation Year and up to the date of signature of the financial statements were as follows:

Mr C Goulden
Mrs J Goulden
Small companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

On behalf of the board
Mr C Goulden
Mrs J Goulden
Director
Director
2 February 2024
GOLDEN MEDIA PRODUCTIONS LIMITED
REPORT TO THE DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY ACCOUNTS OF GOLDEN MEDIA PRODUCTIONS LIMITED
- 2 -

The financial statements have been prepared in accordance with our terms of engagement and in order to assist you to fulfil your duties under the Companies Act that relate to preparing the financial statements of the company for the period to cessation year ended 30th September 2023.

 

We have prepared these financial statements based on the accounting records, information and explanations provided by you. We do not express an opinion on the financial statements.

You have determined that the company is exempt from the statutory requirement for an audit for this accounting year. Therefore, the financial statements are unaudited.

 

The financial statements are provided exclusively to the director for the limited purpose mentioned above, and may not be used or relied upon for any other purpose or by any other person, and we shall not be liable for any other usage or reliance.

Jones Cooper Limited
2 February 2024
Financial Accountants
Hedley Court
Boothferry Road
Goole
East Yorkshire
United Kingdom
DN14 6AA
GOLDEN MEDIA PRODUCTIONS LIMITED
BALANCE SHEET
AS AT
30 SEPTEMBER 2023
30 September 2023
- 3 -
2023
2022
Notes
£
£
£
£
Fixed assets
Intangible assets
3
-
0
10,335
Tangible assets
4
-
0
15,598
-
0
25,933
Current assets
Stocks
-
350
Debtors
5
4,425
3,522
Cash at bank and in hand
11,643
6,003
16,068
9,875
Creditors: amounts falling due within one year
6
(33,136)
(42,812)
Net current liabilities
(17,068)
(32,937)
Total assets less current liabilities
(17,068)
(7,004)
Creditors: amounts falling due after more than one year
7
(5,575)
(8,180)
Provisions for liabilities
-
0
(1,635)
Net liabilities
(22,643)
(16,819)
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
(22,645)
(16,821)
Total equity
(22,643)
(16,819)

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial Cessation Year ended 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the Cessation Year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

GOLDEN MEDIA PRODUCTIONS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 SEPTEMBER 2023
30 September 2023
- 4 -
The financial statements were approved by the board of directors and authorised for issue on 2 February 2024 and are signed on its behalf by:
Mr C Goulden
Mrs J Goulden
Director
Director
Company registration number 08077266 (England and Wales)
GOLDEN MEDIA PRODUCTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE CESSATION YEAR ENDED 30 SEPTEMBER 2023
- 5 -
1
Accounting policies
Company information

Golden Media Productions Limited is a private company limited by shares incorporated in England and Wales. The registered office is Hedley Court, Boothferry Road, Goole, East Yorkshire, United Kingdom, DN14 6AA.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Reporting period

[ FRS 102 3.10 An entity shall present a complete set of financial statements (including comparative information as set out in paragraph 3.14) at least annually. When the end of an entity’s reporting period changes and the annual financial statements are presented for a period longer or shorter than one year, the entity shall disclose the following: (a) that fact; (b) the reason for using a longer or shorter period; and (c) the fact that comparative amounts presented in the financial statements (including the related notes) are not entirely comparable. ]

1.3
Turnover

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.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

1.4
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 20 years.

 

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

GOLDEN MEDIA PRODUCTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE CESSATION YEAR ENDED 30 SEPTEMBER 2023
1
Accounting policies
(Continued)
- 6 -

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
25% reducing balance basis
Motor vehicles
25% reducing balance basis

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.6
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.7
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

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.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

GOLDEN MEDIA PRODUCTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE CESSATION YEAR ENDED 30 SEPTEMBER 2023
1
Accounting policies
(Continued)
- 7 -

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2
Employees

The average monthly number of persons (including directors) employed by the company during the Cessation Year was:

2023
2022
Number
Number
Total
2
2
GOLDEN MEDIA PRODUCTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE CESSATION YEAR ENDED 30 SEPTEMBER 2023
- 8 -
3
Intangible fixed assets
Goodwill
£
Cost
At 1 October 2022 and 30 September 2023
21,200
Amortisation and impairment
At 1 October 2022
10,865
Amortisation charged for the Cessation Year
10,335
At 30 September 2023
21,200
Carrying amount
At 30 September 2023
-
0
At 30 September 2022
10,335
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 October 2022
52,813
Disposals
(52,813)
At 30 September 2023
-
0
Depreciation and impairment
At 1 October 2022
37,215
Eliminated in respect of disposals
(37,215)
At 30 September 2023
-
0
Carrying amount
At 30 September 2023
-
0
At 30 September 2022
15,598
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
3,899
288
Corporation tax recoverable
-
0
2,241
Other debtors
526
993
4,425
3,522
GOLDEN MEDIA PRODUCTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE CESSATION YEAR ENDED 30 SEPTEMBER 2023
- 9 -
6
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
2,800
2,800
Trade creditors
85
29
Corporation tax
2,839
-
0
Other taxation and social security
4,330
367
Other creditors
23,082
39,616
33,136
42,812
7
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
5,575
8,180
8
Directors' transactions
Description
% Rate
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
Directors Loan Account - C Goulden
-
(15,096)
19,044
(15,071)
(11,123)
Directors Loan Account - J Goulden
-
(23,499)
12,377
-
(11,122)
(38,595)
31,421
(15,071)
(22,245)
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