7 false false false false false false false false false false true false false false false false false No description of principal activity 2023-01-01 Sage Accounts Production Advanced 2023 - FRS102_2023 102,000 91,800 10,200 102,000 10,200 xbrli:pure xbrli:shares iso4217:GBP 08551715 2023-01-01 2023-12-31 08551715 2023-12-31 08551715 2022-12-31 08551715 2022-01-01 2022-12-31 08551715 2022-12-31 08551715 2021-12-31 08551715 core:NetGoodwill 2023-01-01 2023-12-31 08551715 core:FurnitureFittings 2023-01-01 2023-12-31 08551715 bus:Director1 2023-01-01 2023-12-31 08551715 bus:Director2 2023-01-01 2023-12-31 08551715 bus:Director3 2023-01-01 2023-12-31 08551715 core:NetGoodwill 2022-12-31 08551715 core:NetGoodwill 2023-12-31 08551715 core:FurnitureFittings 2022-12-31 08551715 core:FurnitureFittings 2023-12-31 08551715 core:WithinOneYear 2023-12-31 08551715 core:WithinOneYear 2022-12-31 08551715 core:AfterOneYear 2023-12-31 08551715 core:AfterOneYear 2022-12-31 08551715 core:ShareCapital 2023-12-31 08551715 core:ShareCapital 2022-12-31 08551715 core:CapitalRedemptionReserve 2023-12-31 08551715 core:CapitalRedemptionReserve 2022-12-31 08551715 core:RetainedEarningsAccumulatedLosses 2023-12-31 08551715 core:RetainedEarningsAccumulatedLosses 2022-12-31 08551715 core:NetGoodwill 2022-12-31 08551715 core:FurnitureFittings 2022-12-31 08551715 bus:Director1 2022-12-31 08551715 bus:Director1 2023-12-31 08551715 bus:Director2 2022-12-31 08551715 bus:Director2 2023-12-31 08551715 bus:Director3 2022-12-31 08551715 bus:Director3 2023-12-31 08551715 bus:Director1 2021-12-31 08551715 bus:Director1 2022-12-31 08551715 bus:Director2 2022-12-31 08551715 bus:Director3 2022-12-31 08551715 bus:Director1 2022-01-01 2022-12-31 08551715 bus:Director2 2022-01-01 2022-12-31 08551715 bus:Director3 2022-01-01 2022-12-31 08551715 bus:SmallEntities 2023-01-01 2023-12-31 08551715 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 08551715 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 08551715 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 08551715 bus:FullAccounts 2023-01-01 2023-12-31 08551715 core:OfficeEquipment 2023-01-01 2023-12-31 08551715 core:OfficeEquipment 2023-12-31 08551715 core:OfficeEquipment 2022-12-31
COMPANY REGISTRATION NUMBER: 08551715
Fonthill Media Limited
Filleted Unaudited Financial Statements
31 December 2023
Fonthill Media Limited
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
£
Fixed assets
Intangible assets
5
10,200
Tangible assets
6
2,751
5,639
-------
--------
2,751
15,839
Current assets
Stocks
594,505
543,710
Debtors
7
176,719
204,581
Cash at bank and in hand
28,357
5,280
---------
---------
799,581
753,571
Creditors: amounts falling due within one year
8
356,544
380,502
---------
---------
Net current assets
443,037
373,069
---------
---------
Total assets less current liabilities
445,788
388,908
Creditors: amounts falling due after more than one year
9
241,165
177,478
Provisions
Taxation including deferred tax
688
1,308
---------
---------
Net assets
203,935
210,122
---------
---------
Fonthill Media Limited
Statement of Financial Position (continued)
31 December 2023
2023
2022
Note
£
£
£
Capital and reserves
Called up share capital
200,693
200,693
Capital redemption reserve
137
137
Profit and loss account
3,105
9,292
---------
---------
Shareholders funds
203,935
210,122
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
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.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 25 September 2024 , and are signed on behalf of the board by:
Mr A J Sutton
Director
Company registration number: 08551715
Fonthill Media Limited
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is Oakley House, Tetbury Road, Cirencester, Glos, GL7 1US.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
10% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures & fittings
-
25% straight line
Equipment
-
33% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 7 (2022: 7 ).
5. Intangible assets
Goodwill
£
Cost
At 1 January 2023 and 31 December 2023
102,000
---------
Amortisation
At 1 January 2023
91,800
Charge for the year
10,200
---------
At 31 December 2023
102,000
---------
Carrying amount
At 31 December 2023
---------
At 31 December 2022
10,200
---------
6. Tangible assets
Fixtures and fittings
Equipment
Total
£
£
£
Cost
At 1 January 2023 and 31 December 2023
1,838
10,251
12,089
-------
--------
--------
Depreciation
At 1 January 2023
1,575
4,875
6,450
Charge for the year
87
2,801
2,888
-------
--------
--------
At 31 December 2023
1,662
7,676
9,338
-------
--------
--------
Carrying amount
At 31 December 2023
176
2,575
2,751
-------
--------
--------
At 31 December 2022
263
5,376
5,639
-------
--------
--------
7. Debtors
2023
2022
£
£
Trade debtors
172,966
198,982
Other debtors
3,753
5,599
---------
---------
176,719
204,581
---------
---------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
94,937
54,097
Trade creditors
126,497
200,603
Corporation tax
2,208
14,915
Social security and other taxes
9,630
Other creditors
35,856
45,676
Other creditors
87,416
65,211
---------
---------
356,544
380,502
---------
---------
9. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
164,250
100,563
Other creditors
76,915
76,915
---------
---------
241,165
177,478
---------
---------
10. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2023
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Mr A J Sutton
( 28,318)
( 27,422)
( 55,740)
Mr G P Kalchev
( 491)
471
( 20)
Ms K E J Sutton
( 1)
( 26,434)
( 26,435)
--------
--------
--------
( 28,810)
( 53,385)
( 82,195)
--------
--------
--------
2022
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Mr A J Sutton
3,524
( 31,842)
( 28,318)
Mr G P Kalchev
( 491)
( 491)
Ms K E J Sutton
( 1)
( 1)
-------
--------
--------
3,524
( 32,334)
( 28,810)
-------
--------
--------