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
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
Wraith Media Group Ltd
Statement of financial position
as at 31 January 2024
Tangible assets
9,592
10,410
Cash at bank and in hand
2
6,084
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)
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
Wraith Media Group Ltd
Notes to the Accounts
for the year ended 31 January 2024
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
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.
The accounts are presented in £ sterling.
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 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 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.
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
At 31 January 2024
16,272
3,313
19,585
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
At 31 January 2024
8,410
1,182
9,592
At 31 January 2023
10,410
-
10,410
Amounts falling due within one year
Accrued income and prepayments
1,337
-
Other debtors
62,731
60,158
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
23,014
20,926
Taxes and social security
19,014
38,536
7
Creditors: amounts falling due after more than one year
2024
2023
Wraith Media Group Ltd
Notes to the Accounts
for the year ended 31 January 2024
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
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).