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Registration number: 06318711

Village Green Media Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2024

 

Village Green Media Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Village Green Media Limited

Company Information

Directors

A Bishop

Mrs J Kesley

Registered office

Floor 6-9 Bush House
North West Wing
57 Aldwych
London
WC2B 4PJ

 

Village Green Media Limited

(Registration number: 06318711)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

-

273

Current assets

 

Debtors

6

809

3,386

Cash at bank and in hand

 

18,467

39,275

 

19,276

42,661

Creditors: Amounts falling due within one year

7

(2,168)

(3,623)

Net current assets

 

17,108

39,038

Net assets

 

17,108

39,311

Capital and reserves

 

Called up share capital

8

1,020

1,020

Other reserves

6,980

6,980

Retained earnings

9,108

31,311

Shareholders' funds

 

17,108

39,311

For the financial year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 19 September 2024 and signed on its behalf by:
 

.........................................
Mrs J Kesley
Director

 

Village Green Media Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Floor 6-9 Bush House
North West Wing
57 Aldwych
London
WC2B 4PJ
United Kingdom

These financial statements were authorised for issue by the Board on 19 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

33% straight line per annum

 

Village Green Media Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

Fully amortised

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Village Green Media Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 September 2023

704

704

At 31 August 2024

704

704

Amortisation

At 1 September 2023

704

704

At 31 August 2024

704

704

Carrying amount

At 31 August 2024

-

-

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 September 2023

4,389

4,389

At 31 August 2024

4,389

4,389

Depreciation

At 1 September 2023

4,389

4,389

At 31 August 2024

4,389

4,389

Carrying amount

At 31 August 2024

-

-

At 31 August 2023

273

273

 

Village Green Media Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

6

Debtors

2024
£

2023
£

Prepayments

640

1,023

Other debtors

169

2,363

809

3,386

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

156

212

Accruals and deferred income

1,300

1,555

Other creditors

712

1,856

2,168

3,623

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

1,020

1,020

1,020

1,020