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Registered Number: 07618505
England and Wales

 

 

 

LIFE RAFT MEDIA LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 June 2022

End date: 31 August 2023
  2023   2022
    £ £   £ £
Fixed assets   33,238      20,778 
Current assets 4,831      11,105   
Creditors: amount falling due within one year (26,865)     (22,063)  
Net current assets   (22,034)     (10,958)
Total assets less current liabilities   11,204      9,820 
Creditors: amount falling due after more than one year   (6,947)    
Net assets   4,257      9,820 
 

         
Capital and reserves   4,257      9,820 
 
NOTES TO THE ACCOUNTS

General Information
Life Raft Media Limited is a private company, limited by shares, registered in England and Wales, registration number 07618505, registration address 14A Hartness Road, Gilwilly Industrial Estate, Penrith, Cumbria, CA11 9BD.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 105 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Licences and patents
Licences and patents are stated at cost less amortisation. Amortisation of licences is calculated on a straight line basis over the life of the licence. Amortisation of patents is calculated on a straight line basis over the estimated expected useful economic life of the patents of 10 years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 25% Reducing Balance
Computer Equipment 25% Reducing Balance
Improvements to property 4% Straight Line
2.

Intangible fixed assets

Cost Patents   Total
  £   £
At 01 June 2022 38,000    38,000 
Additions  
Disposals  
At 31 August 2023 38,000    38,000 
Amortisation
At 01 June 2022 18,200    18,200 
Charge for period 3,800    3,800 
On disposals  
At 31 August 2023 22,000    22,000 
Net book values
At 31 August 2023 16,000    16,000 
At 31 May 2022 19,800    19,800 


3.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Computer Equipment   Improvements to property   Total
  £   £   £   £
At 01 June 2022 978    688      1,666 
Additions 14,557      5,860    20,417 
Disposals      
At 31 August 2023 15,535    688    5,860    22,083 
Depreciation
At 01 June 2022 245    443      688 
Charge for period 3,822    61    274    4,157 
On disposals      
At 31 August 2023 4,067    504    274    4,845 
Net book values
Closing balance as at 31 August 2023 11,468    184    5,586    17,238 
Opening balance as at 01 June 2022 733    245      978 


4.

Average number of employees

Average number of employees during the period was 2 (2022 : 1).


For the period ended 31 August 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 period in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the micro-entity provisions and FRS 105, the Financial Reporting Standard applicable to the micro-entities regime. The accounts have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 08 October 2024 and were signed on its behalf by:


--------------------------------
Robert Plevin
Director
1