Registered number
06356042
North West Media Limited
Filleted Accounts
31 August 2023
North West Media Limited
Registered number: 06356042
Balance Sheet
as at 31 August 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 16,498 17,998
Current assets
Debtors 4 26,855 27,518
Cash at bank and in hand 6,906 40,472
33,761 67,990
Creditors: amounts falling due within one year 5 (31,879) (35,569)
Net current assets 1,882 32,421
Total assets less current liabilities 18,380 50,419
Creditors: amounts falling due after more than one year 6 (26,196) (29,894)
Provisions for liabilities - (4,499)
Net (liabilities)/assets (7,816) 16,026
Reserves
Revaluation reserve - -
Profit and loss account (7,816) 16,026
Members funds (7,816) 16,026
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Jonathan Green
Director
Approved by the board on 20 August 2024
North West Media Limited
Notes to the Accounts
for the year ended 31 August 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 5 7
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 September 2022 77,405 6,483 83,888
Additions 2,703 - 2,703
Disposals - (6,483) (6,483)
At 31 August 2023 80,108 - 80,108
Depreciation
At 1 September 2022 59,486 6,404 65,890
Charge for the year 4,124 - 4,124
On disposals - (6,404) (6,404)
At 31 August 2023 63,610 - 63,610
Net book value
At 31 August 2023 16,498 - 16,498
At 31 August 2022 17,919 79 17,998
4 Debtors 2023 2022
£ £
Trade debtors 10,738 12,691
Other debtors 16,117 14,827
26,855 27,518
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 11,606 10,000
Trade creditors 4,057 9,153
Taxation and social security costs 6,889 11,805
Other creditors 9,327 4,611
31,879 35,569
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 26,196 29,894
7 Other information
North West Media Limited is a private company limited by guarantee and incorporated in England. Its registered office is:
Room 0303 Host Blue
Media City Uk
Salford
England
M50 2ST
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