Registered number
13473334
Professional Marine Media Ltd
Filleted Accounts
30 June 2024
Professional Marine Media Ltd
Registered number: 13473334
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 6,990 7,952
Current assets
Debtors 4 23,287 24,452
Cash at bank and in hand 47,876 77,849
71,163 102,301
Creditors: amounts falling due within one year 5 (39,286) (31,405)
Net current assets 31,877 70,896
Total assets less current liabilities 38,867 78,848
Provisions for liabilities (1,747) (1,988)
Net assets 37,120 76,860
Capital and reserves
Called up share capital 1 1
Profit and loss account 37,119 76,859
Shareholder's funds 37,120 76,860
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr N Burnham
Director
Approved by the board on 22 October 2024
Professional Marine Media Ltd
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment 20% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 2
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 July 2023 9,940
Additions 786
At 30 June 2024 10,726
Depreciation
At 1 July 2023 1,988
Charge for the year 1,748
At 30 June 2024 3,736
Net book value
At 30 June 2024 6,990
At 30 June 2023 7,952
4 Debtors 2024 2023
£ £
Trade debtors 23,287 24,452
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 1,689 2,090
Directors loan account 3,858 10,012
Taxation and social security costs 33,689 18,526
Other creditors 50 777
39,286 31,405
6 Controlling party
Mr N Burnham is the only share holder of Professional Marine Media Ltd and owns all the rights.
7 Other information
Professional Marine Media Ltd is a private company limited by shares and incorporated in England. Its registered office is:
The Old Bank Chambers
223 Union Street
Brunswick Square
Torquay, Devon
TQ1 4UT
Professional Marine Media Ltd 13473334 false 2023-07-01 2024-06-30 2024-06-30 VT Final Accounts April 2024 Mr N Burnham No description of principal activity 13473334 2022-07-01 2023-06-30 13473334 core:WithinOneYear 2023-06-30 13473334 core:ShareCapital 2023-06-30 13473334 core:RetainedEarningsAccumulatedLosses 2023-06-30 13473334 2023-07-01 2024-06-30 13473334 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 13473334 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 13473334 bus:Director40 2023-07-01 2024-06-30 13473334 1 2023-07-01 2024-06-30 13473334 2 2023-07-01 2024-06-30 13473334 core:PlantMachinery 2023-07-01 2024-06-30 13473334 countries:England 2023-07-01 2024-06-30 13473334 bus:FRS102 2023-07-01 2024-06-30 13473334 bus:FilletedAccounts 2023-07-01 2024-06-30 13473334 2024-06-30 13473334 core:WithinOneYear 2024-06-30 13473334 core:ShareCapital 2024-06-30 13473334 core:RetainedEarningsAccumulatedLosses 2024-06-30 13473334 core:PlantMachinery 2024-06-30 13473334 2023-06-30 13473334 core:PlantMachinery 2023-06-30 iso4217:GBP xbrli:pure