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Company registration number: 06970806
Barcadia Media Limited
Unaudited filleted financial statements
31 December 2023
Barcadia Media Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Barcadia Media Limited
Directors and other information
Directors Mr J A Lucas
Mr A D Shields
Miss K J Shields
Miss A H Loddington
Company number 06970806
Registered office 14 Edward Street
Blackpool
Lancs
FY1 1BA
Accountants Turner and Brown Limited
105 Garstang Road
Preston
Lancs
PR1 1LD
Barcadia Media Limited
Chartered accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of Barcadia Media Limited
Year ended 31 December 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Barcadia Media Limited for the year ended 31 December 2023 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
This report is made solely to the board of directors of Barcadia Media Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Barcadia Media Limited and state those matters that we have agreed to state to the board of directors of Barcadia Media Limited as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Barcadia Media Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Barcadia Media Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Barcadia Media Limited. You consider that Barcadia Media Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Barcadia Media Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Turner and Brown Limited
Chartered Accountants
105 Garstang Road
Preston
Lancs
PR1 1LD
Barcadia Media Limited
Statement of financial position
31 December 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 5 56,150 66,523
_______ _______
56,150 66,523
Current assets
Debtors 6 874,243 906,253
Cash at bank and in hand 64,179 138,925
_______ _______
938,422 1,045,178
Creditors: amounts falling due
within one year 7 ( 459,967) ( 410,114)
_______ _______
Net current assets 478,455 635,064
_______ _______
Total assets less current liabilities 534,605 701,587
Creditors: amounts falling due
after more than one year 8 ( 33,466) ( 39,171)
Provisions for liabilities - ( 14,096)
_______ _______
Net assets 501,139 648,320
_______ _______
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 500,139 647,320
_______ _______
Shareholders funds 501,139 648,320
_______ _______
For the year ending 31 December 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 financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 18 November 2024 , and are signed on behalf of the board by:
Mr J A Lucas
Director
Company registration number: 06970806
Barcadia Media Limited
Notes to the financial statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is 14 Edward Street, Blackpool, Lancs, FY1 1BA.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration receivable for the services rendered net of discounts and Value Added Tax. Where the consideration relates to specific services or events which are yet to be performed or take place then this revenue is recorded as deferred income which is shown within other creditors in the accounts. Where any services are partially completed at the reporting date then the revenue is recognised in relation to the estimated stage of completion of the services with any proportion already performed being recognised and any element outstanding recorded as deferred income.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Property improvements - 15 % reducing balance
Fixtures and fittings - Fixtures and Fittings 25% Reducing balance, IT Equipment 4 yrs Straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 17 (2022: 17 ).
5. Tangible assets
Long leasehold property Fixtures, fittings and equipment Total
£ £ £
Cost
At 1 January 2023 140,086 54,014 194,100
Additions - 1,761 1,761
_______ _______ _______
At 31 December 2023 140,086 55,775 195,861
_______ _______ _______
Depreciation
At 1 January 2023 90,726 36,850 127,576
Charge for the year 7,404 4,731 12,135
_______ _______ _______
At 31 December 2023 98,130 41,581 139,711
_______ _______ _______
Carrying amount
At 31 December 2023 41,956 14,194 56,150
_______ _______ _______
At 31 December 2022 49,360 17,164 66,524
_______ _______ _______
6. Debtors
2023 2022
£ £
Trade debtors 182,002 226,838
Other debtors 692,241 679,415
_______ _______
874,243 906,253
_______ _______
7. Creditors: amounts falling due within one year
2023 2022
£ £
Bank loans and overdrafts 5,704 5,564
Trade creditors 64,965 46,871
Social security and other taxes 113,449 116,100
Other creditors 275,849 241,579
_______ _______
459,967 410,114
_______ _______
8. Creditors: amounts falling due after more than one year
2023 2022
£ £
Bank loans and overdrafts 33,466 39,171
_______ _______
9. Operating leases
The company had commitments to leases not shown on the statement of financial position totalling £3,549 at the reporting date.
10. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2023
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
Mr J A Lucas 13,127 107,364 ( 90,266) 30,225
Mr A D Shields ( 20,198) 114,287 ( 93,090) 999
Miss K J Shields 27,529 24,522 ( 35,472) 16,579
Miss A H Loddington 3,959 - - 3,959
_______ _______ _______ _______
24,417 246,173 ( 218,828) 51,762
_______ _______ _______ _______
These loans were interest free and repayable on demand.