Fueld Media Limited 12272071 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is that of an advertising agency. Digita Accounts Production Advanced 6.30.9574.0 true 12272071 2023-01-01 2023-12-31 12272071 2023-12-31 12272071 bus:OrdinaryShareClass1 2023-12-31 12272071 bus:OrdinaryShareClass2 2023-12-31 12272071 core:RetainedEarningsAccumulatedLosses 2023-12-31 12272071 core:ShareCapital 2023-12-31 12272071 core:SharePremium 2023-12-31 12272071 core:CurrentFinancialInstruments 2023-12-31 12272071 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 12272071 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 12272071 core:FurnitureFittings 2023-12-31 12272071 core:OfficeEquipment 2023-12-31 12272071 1 2023-12-31 12272071 2 2023-12-31 12272071 bus:SmallEntities 2023-01-01 2023-12-31 12272071 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 12272071 bus:AbridgedAccounts 2023-01-01 2023-12-31 12272071 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 12272071 bus:RegisteredOffice 2023-01-01 2023-12-31 12272071 bus:Director1 2023-01-01 2023-12-31 12272071 bus:Director2 2023-01-01 2023-12-31 12272071 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 12272071 bus:OrdinaryShareClass2 2023-01-01 2023-12-31 12272071 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 12272071 core:ComputerEquipment 2023-01-01 2023-12-31 12272071 core:FurnitureFittings 2023-01-01 2023-12-31 12272071 core:OfficeEquipment 2023-01-01 2023-12-31 12272071 countries:AllCountries 2023-01-01 2023-12-31 12272071 1 2023-01-01 2023-12-31 12272071 2 2023-01-01 2023-12-31 12272071 2022-12-31 12272071 core:FurnitureFittings 2022-12-31 12272071 core:OfficeEquipment 2022-12-31 12272071 1 2022-12-31 12272071 2 2022-12-31 12272071 2022-01-01 2022-12-31 12272071 2022-12-31 12272071 bus:OrdinaryShareClass1 2022-12-31 12272071 bus:OrdinaryShareClass2 2022-12-31 12272071 core:RetainedEarningsAccumulatedLosses 2022-12-31 12272071 core:ShareCapital 2022-12-31 12272071 core:SharePremium 2022-12-31 12272071 core:CurrentFinancialInstruments 2022-12-31 12272071 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 12272071 core:Non-currentFinancialInstruments core:AfterOneYear 2022-12-31 12272071 core:FurnitureFittings 2022-12-31 12272071 core:OfficeEquipment 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 12272071

Fueld Media Limited

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 December 2023

 

Fueld Media Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 9

 

Fueld Media Limited

Company Information

Directors

Mr R Gregory

Mr O Brightman

Registered office

10 Claverton Buildings
Claverton St
Bath
BA2 4LD

 

Fueld Media Limited

(Registration number: 12272071)
Abridged Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

5,819

8,099

Current assets

 

Debtors

54,107

48,838

Cash at bank and in hand

 

137,669

141,018

 

191,776

189,856

Creditors: Amounts falling due within one year

(75,851)

(66,059)

Net current assets

 

115,925

123,797

Total assets less current liabilities

 

121,744

131,896

Creditors: Amounts falling due after more than one year

(20,000)

(30,000)

Provisions for liabilities

(1,455)

(1,539)

Net assets

 

100,289

100,357

Capital and reserves

 

Called up share capital

5

125

125

Share premium reserve

99,975

99,975

Retained earnings

189

257

Shareholders' funds

 

100,289

100,357

For the financial 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.

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 and the option not to file the Profit and Loss Account has been taken.

 

Fueld Media Limited

(Registration number: 12272071)
Abridged Balance Sheet as at 31 December 2023

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 20 September 2024 and signed on its behalf by:
 

.........................................
Mr O Brightman
Director

 

Fueld Media Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023

1

General information

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

The address of its registered office is:
10 Claverton Buildings
Claverton St
Bath
BA2 4LD

These financial statements were authorised for issue by the Board on 20 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 abridged 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 abridged 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.

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 £.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Fueld Media Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

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

Fixtures and fittings

20% on cost

Office equipment

33% on cost

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.

 

Fueld Media Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

 

Fueld Media Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 9 (2022 - 9).

 

Fueld Media Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023

4

Tangible assets

Fixtures and fittings
£

Office equipment
£

Total
£

Cost or valuation

At 1 January 2023

5,784

8,798

14,582

Additions

582

1,455

2,037

At 31 December 2023

6,366

10,253

16,619

Depreciation

At 1 January 2023

1,157

5,326

6,483

Charge for the year

1,274

3,043

4,317

At 31 December 2023

2,431

8,369

10,800

Carrying amount

At 31 December 2023

3,935

1,884

5,819

At 31 December 2022

4,627

3,472

8,099

5

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

A Ordinary of £1 each

25

25

25

25

 

125

125

125

125

6

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £54,000 (2022 - £Nil).

 

Fueld Media Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023

7

Related party transactions

Transactions with directors

2023

At 1 January 2023
£

Advances to director
£

At 31 December 2023
£

Director's loan account

-

2,153

2,153

Director's loan account

-

1,683

1,683

 

-

3,836

3,836

     

 

The former above loan is interest free, unsecured and repayable on demand. The maximum overdrawn balance during the year was £2,153.

The latter above loan is interest free, unsecured and repayable on demand. The maximum overdrawn balance during the year was £1,683.