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REGISTERED NUMBER: 04221382 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023

FOR

FELT MEDIA LTD.

FELT MEDIA LTD. (REGISTERED NUMBER: 04221382)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FELT MEDIA LTD.

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTORS: S A Spiro
N Copsey





SECRETARY: N Copsey





REGISTERED OFFICE: 21 D'Arblay Street
Soho
London
W1F 8EF





REGISTERED NUMBER: 04221382 (England and Wales)





ACCOUNTANTS: IGD Accounting Services Limited
29a High Street
West Wickham
Kent
BR4 0LP

FELT MEDIA LTD. (REGISTERED NUMBER: 04221382)

BALANCE SHEET
31 MAY 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 22,752 36,981

CURRENT ASSETS
Stocks 5 6,249 3,040
Debtors 6 571,242 556,287
Cash at bank and in hand 627,745 462,551
1,205,236 1,021,878
CREDITORS
Amounts falling due within one year 7 395,016 229,710
NET CURRENT ASSETS 810,220 792,168
TOTAL ASSETS LESS CURRENT
LIABILITIES

832,972

829,149

CREDITORS
Amounts falling due after more than
one year

8

22,500

32,500
NET ASSETS 810,472 796,649

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 810,372 796,549
SHAREHOLDERS' FUNDS 810,472 796,649

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

FELT MEDIA LTD. (REGISTERED NUMBER: 04221382)

BALANCE SHEET - continued
31 MAY 2023


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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 February 2024 and were signed on its behalf by:




N Copsey - Director



S A Spiro - Director


FELT MEDIA LTD. (REGISTERED NUMBER: 04221382)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

1. STATUTORY INFORMATION

Felt Media Ltd. is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover represents net sales of services, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 20% on cost
Plant and machinery - 20% on cost
Fixtures and fittings - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

FELT MEDIA LTD. (REGISTERED NUMBER: 04221382)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 12 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and
leasehold machinery fittings Totals
£    £    £    £   
COST
At 1 June 2022
and 31 May 2023 44,510 24,310 84,798 153,618
DEPRECIATION
At 1 June 2022 21,906 10,862 83,869 116,637
Charge for year 8,902 4,862 465 14,229
At 31 May 2023 30,808 15,724 84,334 130,866
NET BOOK VALUE
At 31 May 2023 13,702 8,586 464 22,752
At 31 May 2022 22,604 13,448 929 36,981

5. STOCKS
31.5.23 31.5.22
£    £   
Stocks 6,249 3,040

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade debtors 460,825 325,470
Other debtors 110,417 230,817
571,242 556,287

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 115,974 79,977
Taxation and social security 49,948 20,124
Other creditors 219,094 119,609
395,016 229,710

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.23 31.5.22
£    £   
Bank loans 22,500 32,500