Pinc Sheep Media Ltd 14596275 false 2023-01-16 2024-01-31 2024-01-31 The principal activity of the company is the provision of performance marketing and web design services. Digita Accounts Production Advanced 6.30.9574.0 Software true true 14596275 2023-01-16 2024-01-31 14596275 2024-01-31 14596275 bus:Director1 1 2024-01-31 14596275 bus:Director2 1 2024-01-31 14596275 core:RetainedEarningsAccumulatedLosses 2024-01-31 14596275 core:ShareCapital 2024-01-31 14596275 core:CurrentFinancialInstruments 2024-01-31 14596275 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-31 14596275 core:OfficeEquipment 2024-01-31 14596275 bus:SmallEntities 2023-01-16 2024-01-31 14596275 bus:AuditExemptWithAccountantsReport 2023-01-16 2024-01-31 14596275 bus:FullAccounts 2023-01-16 2024-01-31 14596275 bus:RegisteredOffice 2023-01-16 2024-01-31 14596275 bus:Director1 2023-01-16 2024-01-31 14596275 bus:Director1 1 2023-01-16 2024-01-31 14596275 bus:Director2 2023-01-16 2024-01-31 14596275 bus:Director2 1 2023-01-16 2024-01-31 14596275 bus:PrivateLimitedCompanyLtd 2023-01-16 2024-01-31 14596275 core:OfficeEquipment 2023-01-16 2024-01-31 14596275 countries:Wales 2023-01-16 2024-01-31 14596275 bus:Director1 1 2023-01-15 14596275 bus:Director2 1 2023-01-15 iso4217:GBP xbrli:pure

Filleted

Registration number: 14596275

Pinc Sheep Media Ltd

Annual Report and Unaudited Financial Statements

for the Period from 16 January 2023 to 31 January 2024

 

Pinc Sheep Media Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 6

 

Pinc Sheep Media Ltd

Company Information

Directors

Ms R E Davies

Mrs D L Boulton

Registered office

4 Stryd y Maswr
Llanelli
SA15 4DZ

 

Pinc Sheep Media Ltd

(Registration number: 14596275)
Balance Sheet as at 31 January 2024

Note

2024
£

Fixed assets

 

Tangible assets

5

3,141

Current assets

 

Debtors

6

863

Cash at bank and in hand

 

45

 

908

Creditors: Amounts falling due within one year

7

(3,921)

Net current liabilities

 

(3,013)

Net assets

 

128

Capital and reserves

 

Called up share capital

2

Profit and loss account

126

Total equity

 

128

For the financial period ending 31 January 2024 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 period 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 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 17 April 2024 and signed on its behalf by:
 

.........................................
Ms R E Davies
Director

.........................................
Mrs D L Boulton
Director

 
     
 

Pinc Sheep Media Ltd

Notes to the Financial Statements for the Period from 16 January 2023 to 31 January 2024

1

General information

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

The address of its registered office is:
4 Stryd y Maswr
Llanelli
SA15 4DZ

These financial statements were authorised for issue by the Board on 17 April 2024.

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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

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.

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.

 

Pinc Sheep Media Ltd

Notes to the Financial Statements for the Period from 16 January 2023 to 31 January 2024

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

Office equipment

Straight line basis over 4 years

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.

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.

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.

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.

 

Pinc Sheep Media Ltd

Notes to the Financial Statements for the Period from 16 January 2023 to 31 January 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2.

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

Depreciation expense

1,047

5

Tangible assets

Office equipment
£

Total
£

Cost or valuation

Additions

4,188

4,188

At 31 January 2024

4,188

4,188

Depreciation

Charge for the period

1,047

1,047

At 31 January 2024

1,047

1,047

Carrying amount

At 31 January 2024

3,141

3,141

6

Debtors

2024
£

Trade debtors

600

Other debtors

263

863

 

Pinc Sheep Media Ltd

Notes to the Financial Statements for the Period from 16 January 2023 to 31 January 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

Due within one year

 

Other related parties

 

692

Other creditors

 

3,229

 

3,921

8

Share capital

Allotted, called up and fully paid shares

 

2024

 

No.

£

Ordinary shares of £1 each

2

2

     

9

Related party transactions

Transactions with directors

2024

At 16 January 2023
£

Advances to director
£

Repayments by director
£

At 31 January 2024
£

Ms R E Davies

Interest free loan repayable on demand

-

263

-

263

         
       

Mrs D L Boulton

Interest free loan repayable on demand

-

-

(692)

(692)