Engine House Media Ltd |
Registered number: |
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07705209 |
Balance Sheet as at 31 December 2023 |
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Notes |
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2023 |
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2022 |
£ |
£ |
Fixed assets |
Tangible assets |
3 |
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12,199 |
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20,157 |
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Current assets |
Debtors |
4 |
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86,205 |
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68,945 |
Cash at bank and in hand |
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36,427 |
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74,424 |
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122,632 |
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143,369 |
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Creditors: amounts falling due within one year |
5 |
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(151,262) |
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(129,456) |
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Net current (liabilities)/assets |
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(28,630) |
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13,913 |
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Total assets less current liabilities |
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(16,431) |
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34,070 |
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Creditors: amounts falling due after more than one year |
6 |
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(105,981) |
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(136,254) |
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Provisions for liabilities |
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(5,610) |
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(3,128) |
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Net liabilities |
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(128,022) |
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(105,312) |
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Capital and reserves |
Called up share capital |
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2,286 |
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2,286 |
Share premium |
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99,900 |
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99,900 |
Profit and loss account |
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(230,208) |
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(207,498) |
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Shareholders' funds |
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(128,022) |
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(105,312) |
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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. |
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……………………………………………………………. |
A Forster |
Director |
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Approved by the board on 4 September 2024 |
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Engine House Media Ltd |
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Notes to the Accounts for the year ended 31 December 2023 |
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1 |
Accounting policies |
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Basis of preparation |
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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). |
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Turnover |
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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. |
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Tangible fixed assets |
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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: |
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Plant and machinery |
over 2- 5 years |
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Fixtures, fittings, tools and equipment |
over 2- 5 years |
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Debtors |
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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. |
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Creditors |
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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. |
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Taxation |
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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. |
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Pensions |
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Contributions to defined contribution plans are expensed in the period to which they relate. |
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2 |
Employees |
2023 |
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2022 |
Number |
Number |
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Average number of persons employed by the company |
0 |
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12 |
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Under current legislation the company is not required to report gender pay diversity as it has fewer than 250 full- time employees. |
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3 |
Tangible fixed assets |
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Plant and machinery etc |
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Motor vehicles |
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Total |
£ |
£ |
£ |
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Cost |
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At 1 January 2023 |
118,907 |
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66,644 |
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185,551 |
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Disposals |
- |
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(12,995) |
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(12,995) |
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At 31 December 2023 |
118,907 |
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53,649 |
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172,556 |
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Depreciation |
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At 1 January 2023 |
114,090 |
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51,304 |
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165,394 |
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Charge for the year |
3,283 |
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4,675 |
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7,958 |
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On disposals |
- |
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(12,995) |
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(12,995) |
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At 31 December 2023 |
117,373 |
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42,984 |
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160,357 |
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Net book value |
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At 31 December 2023 |
1,534 |
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10,665 |
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12,199 |
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At 31 December 2022 |
4,817 |
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15,340 |
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20,157 |
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4 |
Debtors |
2023 |
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2022 |
£ |
£ |
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Trade debtors |
69,064 |
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63,242 |
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Other debtors |
17,141 |
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5,703 |
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86,205 |
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68,945 |
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5 |
Creditors: amounts falling due within one year |
2023 |
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2022 |
£ |
£ |
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Bank loans and overdrafts |
122,486 |
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61,991 |
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Obligations under finance lease and hire purchase contracts |
3,058 |
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2,719 |
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Trade creditors |
22,623 |
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30,360 |
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Taxation and social security costs |
- |
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19,347 |
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Other creditors |
3,095 |
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15,039 |
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151,262 |
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129,456 |
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6 |
Creditors: amounts falling due after one year |
2023 |
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2022 |
£ |
£ |
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Bank loans |
97,192 |
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124,407 |
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Obligations under finance lease and hire purchase contracts |
8,789 |
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11,847 |
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105,981 |
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136,254 |
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7 |
Loans |
2023 |
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2022 |
£ |
£ |
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Creditors include: |
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Secured bank loans |
219,678 |
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186,399 |
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The bank loans are secured by a fixed and floating charge over the assets of the company. |
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8 |
Related party transactions |
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Leven Media Group Ltd |
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Leven Media Group Ltd owns 94% of the company's issued share capital and is therefore materially interested in the company. |
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The accounts include the following transactions, made on a |
2023 |
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2022 |
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normal trading basis: |
£ |
£ |
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Purchases from Leven Media Group Ltd |
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744,796 |
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221,054 |
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Current liabilites: |
Trade creditors |
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2,148 |
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12,805 |
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Sales to Leven Media Group Ltd |
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7,310 |
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2,875 |
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Current assest: |
Trade debtors |
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300 |
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1,566 |
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Black Dog Logistics Ltd |
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The directors are materially interested in Black Dog Logistics Ltd, as both directors and shareholders. |
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The accounts include the following transactions, made on a |
2023 |
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2022 |
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normal trading basis: |
£ |
£ |
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Purchases from Black Dog Logistics Ltd |
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46,720 |
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25,872 |
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Current liabilites: |
Trade creditors |
- |
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3,893 |
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Honj Limited |
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Mr B Pratchett is materially interested in Honj Limited, as both director and shareholder. |
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The accounts include the following transactions, made on a |
2023 |
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2022 |
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normal trading basis: |
£ |
£ |
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Purchases from Honj Limited |
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2,107 |
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- |
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Sales to Honj Limited |
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2,107 |
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- |
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High Tide Media Ltd |
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Mr B Pratchett is materially interested in High Tide Media Ltd, as a director. |
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The accounts include the following transactions, made on a |
2023 |
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2022 |
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normal trading basis: |
£ |
£ |
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Purchases from High Tide Media Ltd |
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2,121 |
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151,571 |
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Current liabilites: |
Trade creditors |
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- |
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1,315 |
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The Ocean Agency Ltd |
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The directors are materially interested in The Ocean Agency Ltd as shareholders in Leven Media Group Ltd which owns a majority shreholding in the company. Mr B Pratchett is a director of The Ocean Agency Ltd. |
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The accounts include the following transactions, made on a |
2023 |
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2022 |
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normal trading basis: |
£ |
£ |
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Sales to The Ocean Agency Ltd |
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10,700 |
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- |
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Current assest: |
Trade debtors |
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12,674 |
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- |
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9 |
Controlling party |
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The company is ultimately controlled by the directors, Mr A Forster and Mr B Pratchett, by virtue of their controlling interest in the issued share capital of Leven Media Group Ltd, which owns 94% of the company's issued share capital. |
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Leven Media Group Ltd's registered office is: Holbrook, The Moors, Porthleven, Cornwall, TR13 9JX. |
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10 |
Other information |
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Engine House Media Ltd is a private company limited by shares and incorporated in England. Its registered office is: Holbrook, The Moors, Porthleven, Cornwall, TR13 9JX. |