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Registered number: 11532450
Student Media Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2023
Unaudited Financial Statements
Contents
Page
Company Information 1
Balance Sheet 2—3
Notes to the Financial Statements 4—6
Page 1
Company Information
Directors Christopher Moss
Phoenix Zhao
Company Number 11532450
Registered Office 3rd Floor
86-90 Paul Street
London
EC2A 4NE
Accountants HJP Chartered
Audley House
Northbridge Road
Berkhamsted
Herts
HP4 1EH
Page 1
Page 2
Balance Sheet
Registered number: 11532450
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 758 1,333
758 1,333
CURRENT ASSETS
Stocks 5 3,668 -
Debtors 6 490,812 394,409
Cash at bank and in hand 161,185 177,798
655,665 572,207
Creditors: Amounts Falling Due Within One Year 7 (229,642 ) (173,085 )
NET CURRENT ASSETS (LIABILITIES) 426,023 399,122
TOTAL ASSETS LESS CURRENT LIABILITIES 426,781 400,455
Creditors: Amounts Falling Due After More Than One Year 8 (171,801 ) (171,801 )
NET ASSETS 254,980 228,654
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 254,880 228,554
SHAREHOLDERS' FUNDS 254,980 228,654
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For the 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.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Christopher Moss
Director
20 September 2024
The notes on pages 4 to 6 form part of these financial statements.
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Page 4
Notes to the Financial Statements
1. General Information
Student Media Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11532450 . The registered office is 3rd Floor, 86-90 Paul Street, London, EC2A 4NE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
Presentation currency
The accounts are presented in GBP.
2.2. 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 rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 50% Straight Line
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2022: 2)
3 2
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4. Tangible Assets
Fixtures & Fittings
£
Cost
As at 1 January 2023 4,377
Additions 1,512
As at 31 December 2023 5,889
Depreciation
As at 1 January 2023 3,044
Provided during the period 2,087
As at 31 December 2023 5,131
Net Book Value
As at 31 December 2023 758
As at 1 January 2023 1,333
5. Stocks
2023 2022
£ £
Work in progress 3,668 -
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 60,320 40,715
Prepayments and accrued income 1,042 -
Other debtors 429,450 353,694
490,812 394,409
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 75,185 75,196
Bank loans and overdrafts 18,182 18,182
Corporation tax 31,503 51,784
Other taxes and social security 1,225 -
VAT 30,991 27,923
Other creditors 950 -
Deferred income 60,000 -
Accruals 500 -
Directors' loan accounts 11,106 -
229,642 173,085
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8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 171,801 171,801
171,801 171,801
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
10. Directors Advances, Credits and Guarantees
At the start of the year the balance was £4,242 (2022 - £29,244) and this was repaid in full. 
During the year, loans were taken and repaid within the same year. 
At the end of the year the company owed the directors £11,106.
Interest of 2%/2.25% p.a. was applied to the loan where it exceed £10,000 for each director. 
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