Ecreation Media Technology Limited
Unaudited accounts
Contents
Ecreation Media Technology Limited
Statement of financial position
as at 30 April 2024
Tangible assets
3,245
7,496
Investments
443,592
443,592
Cash at bank and in hand
1,092,174
694,397
Creditors: amounts falling due within one year
(1,058,256)
(1,052,655)
Net current assets
1,048,516
443,746
Total assets less current liabilities
1,495,353
894,834
Creditors: amounts falling due after more than one year
(8,125)
(108,662)
Provisions for liabilities
Other provisions
(811)
(1,424)
Net assets
1,486,417
784,748
Called up share capital
2,121
2,100
Share premium
29,960
29,960
Profit and loss account
1,454,336
752,688
Shareholders' funds
1,486,417
784,748
For the year ending 30 April 2024 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.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 3 September 2024 and were signed on its behalf by
J Rayner
Director
Company Registration No. 08028974
Ecreation Media Technology Limited
Notes to the Accounts
for the year ended 30 April 2024
Ecreation Media Technology Limited is a private company, limited by shares, registered in England and Wales, registration number 08028974. The registered office is C/O TFA Accountants Limited, Arena Business Centre, Holyrood Close, Poole, Dorset, BH17 7FJ, United Kingdom.
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Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
2 years
Computer equipment
2 years
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Expenditure on research and development is written off in the year in which it is incurred.
Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Ecreation Media Technology Limited
Notes to the Accounts
for the year ended 30 April 2024
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
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Tangible fixed assets
Total
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Operating lease commitments
2024
2023
At 30 April 2024 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
30,393
5,402
Later than one year and not later than five years
45,590
-
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Transactions with related parties
The directors made an interest free loan to the company of £8,528 (2023: £63,398). The directors reserve the right to charge the company interest at any stage.
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Average number of employees
During the year the average number of employees was 4 (2023: 3).