Kelebek Media Limited
Unaudited Financial Statements
For the year ended 31 October 2023
Pages for Filing with Registrar
Company Registration No. 08717696 (England and Wales)
Kelebek Media Limited
Company Information
Directors
Ms D. Thorpe
Mr M. McFadyen
Company number
08717696
Registered office
Orbital House
20 Eastern Road
Romford
Essex
RM1 3PJ
Accountants
Moore Kingston Smith LLP
Orbital House
20 Eastern Road
Romford
Essex
RM1 3PJ
Kelebek Media Limited
Contents
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
Kelebek Media Limited
Balance Sheet
As at 31 October 2023
Page 1
2023
2022
Notes
£
£
£
£
Fixed assets
Intangible assets
3
6,000
6,000
Tangible assets
4
9,192
7,494
15,192
13,494
Current assets
Stock
5,638,673
1,787,932
Debtors
5
86,757
779,939
Cash at bank and in hand
1,514,556
3,675,035
7,239,986
6,242,906
Creditors: amounts falling due within one year
6
(7,060,121)
(6,233,131)
Net current assets
179,865
9,775
Total assets less current liabilities
195,057
23,269
Creditors: amounts falling due after more than one year
7
(20,833)
(30,833)
Net assets/(liabilities)
174,224
(7,564)
Capital and reserves
Called up share capital
8
100
100
Profit and loss reserves
174,124
(7,664)
Total equity
174,224
(7,564)
Kelebek Media Limited
Balance Sheet (Continued)
As at 31 October 2023
Page 2

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 19 August 2024 and are signed on its behalf by:
Ms D. Thorpe
Director
Company Registration No. 08717696
Kelebek Media Limited
Notes to the Financial Statements
For the year ended 31 October 2023
Page 3
1
Accounting policies
Company information

Kelebek Media Limited is a private company limited by shares incorporated in England and Wales. The registered office is Orbital House, 20 Eastern Road, Romford, Essex, RM1 3PJ.

1.1
Accounting convention

These financial statements have been prepared in accordance with Section 1A of FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

1.3
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

 

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computers
25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Kelebek Media Limited
Notes to the Financial Statements (Continued)
For the year ended 31 October 2023
1
Accounting policies
(Continued)
Page 4
1.5
Stock

Stock are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stock to their present location and condition.

1.6
Cash at bank and in hand

Cash at bank and in hand are basic financial assets and include cash in hand and deposits held at call with banks.

1.7
Financial instruments

The company only has basic financial assets and liabilities measured at amortised cost.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

The tax expense represents the sum of the tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

1.10
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 5 (2021: 5).

Kelebek Media Limited
Notes to the Financial Statements (Continued)
For the year ended 31 October 2023
Page 5
3
Intangible fixed assets
Development costs
£
Cost
At 1 November 2022 and 31 October 2023
6,000
Amortisation and impairment
At 1 November 2022 and 31 October 2023
-
0
Carrying amount
At 31 October 2023
6,000
At 31 October 2022
6,000
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 November 2022
11,606
Additions
4,691
At 31 October 2023
16,297
Depreciation and impairment
At 1 November 2022
4,112
Depreciation charged in the year
2,993
At 31 October 2023
7,105
Carrying amount
At 31 October 2023
9,192
At 31 October 2022
7,494
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
76,039
760,616
Other debtors
9,882
18,563
Prepayments and accrued income
836
760
86,757
779,939
Kelebek Media Limited
Notes to the Financial Statements (Continued)
For the year ended 31 October 2023
Page 6
6
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
10,000
10,000
Trade creditors
25,122
1,217,633
Corporation tax
53,476
879
Other taxation and social security
26,838
-
0
Other creditors
6,939,978
5,001,919
Accruals and deferred income
4,707
2,700
7,060,121
6,233,131

Included in other creditors is an amount of £773 (2022: £546) in relation to pensions payable.

7
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
20,833
30,833
8
Called up share capital
2023
2022
Ordinary share capital
£
£
Issued and fully paid
100 Ordinary shares of £1 each
100
100
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