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Registration number: 02868672

ACS Media Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

ACS Media Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 5

 

ACS Media Limited

(Registration number: 02868672)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Current assets

 

Stocks

7

25,000

17,488

Debtors

8

158,096

164,743

Cash at bank and in hand

 

8,254

10,454

 

191,350

192,685

Creditors: Amounts falling due within one year

9

(9,503)

(11,063)

Net assets

 

181,847

181,622

Capital and reserves

 

Called up share capital

4

4

Retained earnings

181,843

181,618

Shareholders' funds

 

181,847

181,622

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. 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 26 September 2024 and signed on its behalf by:
 

.........................................
Mr P J Craik
Director

 

ACS Media Limited

Notes to the Unaudited 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 and Wales.

The address of its registered office is:
2 Old Bath Road
Newbury
Berkshire
RG14 1QL
England

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.

Revenue recognition

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

Tax

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

Motor vehicles

20% straight line basis

Plant and machinery

15% straight line basis

Fixtures and fittings

15% straight line basis

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:

 

ACS Media Limited

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

Asset class

Amortisation method and rate

Website

20% straight line basis

Debtors

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

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

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.

3

Taxation

2023

2022

£

£

Corporation tax

-

-

4

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

ACS Media Limited

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

5

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 January 2023

66,585

66,585

At 31 December 2023

66,585

66,585

Amortisation

At 1 January 2023

66,585

66,585

At 31 December 2023

66,585

66,585

Carrying amount

At 31 December 2023

-

-

6

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2023

3,964

54,384

12,250

70,598

At 31 December 2023

3,964

54,384

12,250

70,598

Depreciation

At 1 January 2023

3,964

54,384

12,250

70,598

At 31 December 2023

3,964

54,384

12,250

70,598

Carrying amount

At 31 December 2023

-

-

-

-

7

Stocks

2023
£

2022
£

Other inventories

25,000

17,488

 

ACS Media Limited

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

8

Debtors

Current

2023
£

2022
£

Trade debtors

199

149

Other debtors

157,897

164,594

 

158,096

164,743

9

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

4,836

6,396

Other creditors

4,667

4,667

9,503

11,063

10

Related party transactions

Summary of transactions with other related parties

ESP Music Disco Limited ( a company in which directors of ACS Media Limited are shareholders and directors)
 traded with the company. At the balance sheet date the amount due from ESP Music Disco Ltd was £157,897 (2022: £164,594).