REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 1 August 2022 to 31 October 2023 |
for |
POP FM LTD |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 1 August 2022 to 31 October 2023 |
for |
POP FM LTD |
POP FM LTD (REGISTERED NUMBER: 13488094) |
Contents of the Financial Statements |
FOR THE PERIOD 1 AUGUST 2022 TO 31 OCTOBER 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
POP FM LTD |
Company Information |
FOR THE PERIOD 1 AUGUST 2022 TO 31 OCTOBER 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
1 Kings Avenue |
London |
N21 3NA |
POP FM LTD (REGISTERED NUMBER: 13488094) |
Balance Sheet |
31 OCTOBER 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Property, plant and equipment | 5 |
CURRENT ASSETS |
Inventories |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
POP FM LTD (REGISTERED NUMBER: 13488094) |
Notes to the Financial Statements |
FOR THE PERIOD 1 AUGUST 2022 TO 31 OCTOBER 2023 |
1. | STATUTORY INFORMATION |
Pop Fm Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Turnover |
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Goodwill |
Goodwill, being the amount paid in connection with the acquisition of a business, is being amortised evenly over the estimated useful life of five years. |
Goodwill amortization - 20% on straight line basis |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Tangible fixed assets |
Property, plant and equipment is stated at cost less accumulated depreciation and accumulated impairment losses.Such cost included costs directly attributable to making the asset capable of operating as intended. |
Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets less their estimated residual value over their expected useful lives, on the following basis: |
Plant & machinery | 20% on Reducing Balance |
Fixtures fittings and equipment | 20% on Reducing Balance |
Leasehold improvements | 20% on Reducing Balance |
Stocks |
Inventories 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 period comprises current and deferred tax. Tax is recognised in the Income Statement, 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. |
POP FM LTD (REGISTERED NUMBER: 13488094) |
Notes to the Financial Statements - continued |
FOR THE PERIOD 1 AUGUST 2022 TO 31 OCTOBER 2023 |
2. | ACCOUNTING POLICIES - continued |
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 period 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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
Goodwill | assets | Totals |
£ | £ | £ |
COST |
At 1 August 2022 |
and 31 October 2023 |
AMORTISATION |
At 1 August 2022 |
Charge for period |
At 31 October 2023 |
NET BOOK VALUE |
At 31 October 2023 |
At 31 July 2022 |
5. | PROPERTY, PLANT AND EQUIPMENT |
Fixtures |
Leasehold | Plant and | and |
improvements | machinery | fittings | Totals |
£ | £ | £ | £ |
COST |
At 1 August 2022 |
Additions |
At 31 October 2023 |
DEPRECIATION |
At 1 August 2022 |
Charge for period |
At 31 October 2023 |
NET BOOK VALUE |
At 31 October 2023 |
At 31 July 2022 |
POP FM LTD (REGISTERED NUMBER: 13488094) |
Notes to the Financial Statements - continued |
FOR THE PERIOD 1 AUGUST 2022 TO 31 OCTOBER 2023 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Amounts owed by connected companies | 35,107 | 5,089 |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
8. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the periods ended 31 October 2023 and 31 July 2022: |
2023 | 2022 |
£ | £ |
Balance outstanding at start of period |
Amounts advanced |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of period |
During the period interest of £9,148 (2022: £162) was charged at the official interest on overdrawn amounts. |
9. | RELATED PARTY DISCLOSURES |
Included in creditors, amount falling due within one year, is an amount of £625,945 (2022: £134,646) owed to the group undertakings. This amount is interest free and repayable on demand. |
Included in debtors, amount falling due within one year, is an amount of £35,107 (2022: £5,089) owed by the connected companies. This amount is interest free and repayable on demand. |
Included in debtors, amount falling due within one year, is an amount of £687,157 (2022: £3,316) owed by the group undertakings. This amount is interest free and repayable on demand. |
10. | ULTIMATE CONTROLLING PARTY |
The company's immediate parent is MADEN GROUP LTD, incorporated in England and Wales. The ultimate controlling parties are the shareholders of Maden Group Ltd by virtue of their holding in the parent company. |