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Company No: 06649751 (England and Wales)

QUARRYFIELD MEDIA LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

QUARRYFIELD MEDIA LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

QUARRYFIELD MEDIA LIMITED

COMPANY INFORMATION

For the financial year ended 31 December 2023
QUARRYFIELD MEDIA LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 December 2023
DIRECTOR Mr T Fairgrieve
REGISTERED OFFICE Quarryfield
Hale Purlieu
Fordingbridge
SP6 2NN
United Kingdom
COMPANY NUMBER 06649751 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Centenary House
Peninsula Park
Rydon Lane
Exeter
Devon EX2 7XE
QUARRYFIELD MEDIA LIMITED

BALANCE SHEET

As at 31 December 2023
QUARRYFIELD MEDIA LIMITED

BALANCE SHEET (continued)

As at 31 December 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 2,365 1,884
2,365 1,884
Current assets
Debtors 4 32,296 22,678
Cash at bank and in hand 9,027 16,983
41,323 39,661
Creditors: amounts falling due within one year 5 ( 9,420) ( 10,404)
Net current assets 31,903 29,257
Total assets less current liabilities 34,268 31,141
Net assets 34,268 31,141
Capital and reserves
Called-up share capital 6 1 1
Profit and loss account 34,267 31,140
Total shareholder's funds 34,268 31,141

For the financial year ending 31 December 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Quarryfield Media Limited (registered number: 06649751) were approved and authorised for issue by the Director on 10 June 2024. They were signed on its behalf by:

Mr T Fairgrieve
Director
QUARRYFIELD MEDIA LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
QUARRYFIELD MEDIA LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Quarryfield Media Limited (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 Quarryfield, Hale Purlieu, Fordingbridge, SP6 2NN, 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

Turnover comprises the fair value of consideration received or receivable for provision of services in the ordinary course of the company's activities.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
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 Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Office equipment 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Financial instruments

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.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Tangible assets

Office equipment Total
£ £
Cost
At 01 January 2023 5,639 5,639
Additions 1,358 1,358
At 31 December 2023 6,997 6,997
Accumulated depreciation
At 01 January 2023 3,755 3,755
Charge for the financial year 877 877
At 31 December 2023 4,632 4,632
Net book value
At 31 December 2023 2,365 2,365
At 31 December 2022 1,884 1,884

4. Debtors

2023 2022
£ £
Trade debtors 7,628 8,800
Other debtors 24,668 13,878
32,296 22,678

5. Creditors: amounts falling due within one year

2023 2022
£ £
Accruals 2,112 2,000
Taxation and social security 7,298 8,365
Other creditors 10 39
9,420 10,404

6. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
1 Ordinary share of £ 1.00 1 1

7. Related party transactions

Transactions with the entity's director

2023 2022
£ £
Advances to directors 24,335 13,610

The maximum amount the director's current account was overdrawn in the year was £24,335 (2022: £13,610). This loan is repayable on demand. Interest has been charged at 2%.