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DAV Media Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2024

Registration number: 10090506

 

DAV Media Ltd

Contents

Statement of financial position

1

Notes to the Unaudited Financial Statements

2 to 5

 

DAV Media Ltd

(Registration number: 10090506)
Statement of financial position as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

24,760

20,311

Current assets

 

Debtors

5

19,973

21,471

Cash at bank and in hand

 

4,694

2,398

 

24,667

23,869

Creditors: Amounts falling due within one year

6

(39,773)

(69,109)

Net current liabilities

 

(15,106)

(45,240)

Total assets less current liabilities

 

9,654

(24,929)

Creditors: Amounts falling due after more than one year

6

(3,750)

(5,417)

Net assets/(liabilities)

 

5,904

(30,346)

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

5,804

(30,446)

Shareholders' funds/(deficit)

 

5,904

(30,346)

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 director has not delivered to the registrar a copy of the Income statement.

Approved and authorised by the director on 16 October 2024
 

.........................................
Mr A Hayes
Director

 

DAV Media Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

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

The address of its registered office is:
Solo House
The Courtyard
London Road
Horsham
West Sussex
RH12 1AT

These financial statements were authorised for issue by the director on 16 October 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 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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the 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.

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.

 

DAV Media Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Tax

The tax expense for the period comprises current 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.

Tangible assets

Tangible assets are stated in the statement of financial position 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 vehicle

25% reducing balance

Technical equipment and software

20% straight line

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.

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 income statement 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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

DAV Media Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Equipment
£

Total
£

Cost or valuation

At 1 April 2023

49,394

49,394

Additions

4,449

4,449

At 31 March 2024

53,843

53,843

Depreciation

At 1 April 2023

29,083

29,083

At 31 March 2024

29,083

29,083

Carrying amount

At 31 March 2024

24,760

24,760

At 31 March 2023

20,311

20,311

5

Debtors

Current

2024
£

2023
£

Trade debtors

4,548

900

Prepayments

-

668

Other debtors

15,425

19,903

 

19,973

21,471

 

DAV Media Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

1,667

1,666

Trade creditors

 

6,667

3,870

Taxation and social security

 

17,188

12,768

Accruals and deferred income

 

1,250

1,250

Other creditors

 

13,001

49,555

 

39,773

69,109

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

3,750

5,417

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

3,750

5,417

Current loans and borrowings

2024
£

2023
£

Bank borrowings

1,667

1,666