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Company Registration No. SC585840 (Scotland)
Wraith Media Group Ltd Unaudited accounts for the year ended 31 January 2024
Wraith Media Group Ltd Unaudited accounts Contents
Page
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Wraith Media Group Ltd Company Information for the year ended 31 January 2024
Directors
Heidi Davies Ian Gavin Davies Job Thomas Davies
Company Number
SC585840 (Scotland)
Registered Office
100b Constitution Street Edinburgh Midlothian EH6 6AW Scotland
Accountants
The Profit Hero Ltd 37 Bull Street Holt Norfolk NR25 6HP
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Wraith Media Group Ltd Statement of financial position as at 31 January 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
9,592 
10,410 
Current assets
Inventories
2,520 
4,188 
Debtors
72,869 
70,143 
Cash at bank and in hand
2 
6,084 
75,391 
80,415 
Creditors: amounts falling due within one year
(51,793)
(66,603)
Net current assets
23,598 
13,812 
Total assets less current liabilities
33,190 
24,222 
Creditors: amounts falling due after more than one year
(31,059)
(34,690)
Provisions for liabilities
Deferred tax
(1,822)
(1,978)
Net assets/(liabilities)
309 
(12,446)
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
307 
(12,448)
Shareholders' funds
309 
(12,446)
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 29 October 2024 and were signed on its behalf by
Ian Gavin Davies Director Company Registration No. SC585840
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Wraith Media Group Ltd Notes to the Accounts for the year ended 31 January 2024
1
Statutory information
Wraith Media Group Ltd is a private company, limited by shares, registered in Scotland, registration number SC585840. The registered office is 100b Constitution Street, Edinburgh, Midlothian, EH6 6AW, Scotland.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Going concern
The financial statements have been prepared on the going concern basis. The directors believe that the company has adequate resources and support to continue to operate for the foreseeable future.
Presentation currency
The accounts are presented in £ sterling.
Turnover
The turnover shown in the profit and loss account represents the sales value of work done during the year, exclusive of Value Added Tax.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% Straight Line
Fixtures & fittings
20% Straight Line
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.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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Wraith Media Group Ltd Notes to the Accounts for the year ended 31 January 2024
4
Tangible fixed assets
Plant & machinery 
Fixtures & fittings 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 February 2023
15,946 
2,060 
18,006 
Additions
326 
1,253 
1,579 
At 31 January 2024
16,272 
3,313 
19,585 
Depreciation
At 1 February 2023
5,536 
2,060 
7,596 
Charge for the year
2,326 
71 
2,397 
At 31 January 2024
7,862 
2,131 
9,993 
Net book value
At 31 January 2024
8,410 
1,182 
9,592 
At 31 January 2023
10,410 
- 
10,410 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
8,801 
9,985 
Accrued income and prepayments
1,337 
- 
Other debtors
62,731 
60,158 
72,869 
70,143 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
23,014 
20,926 
VAT
7,763 
- 
Trade creditors
777 
1,264 
Taxes and social security
19,014 
38,536 
Other creditors
- 
5,877 
Accruals
1,225 
- 
51,793 
66,603 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
31,059 
34,690 
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Wraith Media Group Ltd Notes to the Accounts for the year ended 31 January 2024
8
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
I G & H Davies YE 31st Jan 2024
30,262 
86,552 
- 
116,814 
I G & H Davies YE 31st Jan 2023
105,389 
109,809 
184,936 
30,262 
135,651 
196,361 
184,936 
147,076 
The following advances and credits to directors subsisted during the years ended 31st January 2023 and 31st January 2024
9
Controlling party
The company was under the control of I & H Davies throughout the current and previous year.
10
Average number of employees
During the year the average number of employees was 3 (2023: 3).
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