Company No:
Contents
Note | 31.03.2024 | 31.03.2023 | ||
£ | £ | |||
Fixed assets | ||||
Tangible assets | 3 |
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273 | 491 | |||
Current assets | ||||
Debtors | 4 |
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Cash at bank and in hand |
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18,347 | 48,766 | |||
Creditors: amounts falling due within one year | 5 | (
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Net current assets | 14,747 | 33,123 | ||
Total assets less current liabilities | 15,020 | 33,614 | ||
Net assets |
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Capital and reserves | ||||
Called-up share capital | 6 |
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Profit and loss account |
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Total shareholder's funds |
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Director's responsibilities:
The financial statements of Media7one Ltd (registered number:
David Roland Guppy
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.
Media7one Ltd (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 Brook Farm,, Southwood, Glastonbury, BA6 8PG, 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 is recognised when the significant risks and rewards are considered to have been transferred to the customer.
Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
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 Statement of Financial Position date.
Office equipment |
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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.
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
Year ended 31.03.2024 |
Period from 04.03.2022 to 31.03.2023 |
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Number | Number | ||
Monthly average number of persons employed by the Company during the year, including the director |
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Office equipment | Total | ||
£ | £ | ||
Cost | |||
At 01 April 2023 |
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At 31 March 2024 |
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Accumulated depreciation | |||
At 01 April 2023 |
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Charge for the financial year |
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At 31 March 2024 |
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Net book value | |||
At 31 March 2024 |
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At 31 March 2023 |
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31.03.2024 | 31.03.2023 | ||
£ | £ | ||
Amounts owed by director |
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31.03.2024 | 31.03.2023 | ||
£ | £ | ||
Amounts owed to director |
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Accruals |
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Taxation and social security |
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31.03.2024 | 31.03.2023 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
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Transactions with the entity's director
31.03.2024 | 31.03.2023 | ||
£ | £ | ||
Amounts owed by/(to) the director | 16,701 | (399) |
No interest is charged on the loan and there are no set repayment term.