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Company Registration No. 07931844 (England and Wales)
MAYBEA MEDIA LTD Unaudited accounts for the year ended 29 February 2024
MAYBEA MEDIA LTD Unaudited accounts Contents
Page
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MAYBEA MEDIA LTD Company Information for the year ended 29 February 2024
Director
Stephen Kitchen
Company Number
07931844 (England and Wales)
Registered Office
4 Greengate Levens Kendal Cumbria LA8 8NF
Accountants
Parkin Finance Limited
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MAYBEA MEDIA LTD Statement of financial position as at 29 February 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
28,933 
11,411 
Investment property
1,445,000 
1,405,000 
Investments
- 
350 
1,473,933 
1,416,761 
Current assets
Debtors
137,237 
184,241 
Cash at bank and in hand
26,678 
48,518 
163,915 
232,759 
Creditors: amounts falling due within one year
(83,011)
(110,011)
Net current assets
80,904 
122,748 
Total assets less current liabilities
1,554,837 
1,539,509 
Creditors: amounts falling due after more than one year
(234,653)
(258,460)
Provisions for liabilities
Deferred tax
(67,593)
(53,124)
Net assets
1,252,591 
1,227,925 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
1,252,491 
1,227,825 
Shareholders' funds
1,252,591 
1,227,925 
For the year ending 29 February 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 director acknowledges his 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 and authorised for issue on 7 November 2024 and were signed on its behalf by
Stephen Kitchen Director Company Registration No. 07931844
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MAYBEA MEDIA LTD Notes to the Accounts for the year ended 29 February 2024
1
Statutory information
MAYBEA MEDIA LTD is a private company, limited by shares, registered in England and Wales, registration number 07931844. The registered office is 4 Greengate, Levens, Kendal, Cumbria, LA8 8NF.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. The disclosure requirements have been applied other than where additional disclosure is required to show a true and fair view.
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.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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 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
15% reducing balance
Fixtures & fittings
10% straight line
Computer equipment
33% straight line
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Investments
Investments in shares are included at fair value.
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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MAYBEA MEDIA LTD Notes to the Accounts for the year ended 29 February 2024
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 March 2023
17,749 
Additions
22,995 
At 29 February 2024
40,744 
Depreciation
At 1 March 2023
6,338 
Charge for the year
5,473 
At 29 February 2024
11,811 
Net book value
At 29 February 2024
28,933 
At 28 February 2023
11,411 
5
Investment property
2024 
£ 
Fair value at 1 March 2023
1,405,000 
Net gain from fair value adjustments
40,000 
At 29 February 2024
1,445,000 
The fair value of the investment property has been arrived at on the basis of a valuation carried out at £1,445,000 (2023 - £1,405,000) by Mr S J Kitchen, the director of the company. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.
6
Investments
Other investments 
£ 
Valuation at 1 March 2023
350 
Disposals
(350)
Valuation at 29 February 2024
- 
7
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
15,314 
26,510 
Accrued income and prepayments
14,230 
21,696 
Other debtors
107,693 
136,035 
137,237 
184,241 
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MAYBEA MEDIA LTD Notes to the Accounts for the year ended 29 February 2024
8
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
41,864 
45,879 
VAT
10,311 
12,981 
Obligations under finance leases and hire purchase contracts
4,413 
- 
Trade creditors
163 
3,729 
Taxes and social security
17,398 
37,245 
Other creditors
6,985 
6,802 
Accruals
1,877 
3,375 
83,011 
110,011 
9
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
222,626 
258,460 
Obligations under finance leases and hire purchase contracts
12,027 
- 
234,653 
258,460 
Aggregate of amounts that fall due for payment after five years
38,440 
42,469 
The bank loans are secured by way of a legal charge over the properties known as Unit 3 Dockray Hall Mill, 27 Caroline Street and Unit 6 Parkside Road.
10
Transactions with related parties
Amounts due from related parties: Key management personnel: £75,503 (£104,664) Other related parties: £14,418 (£13,600)
11
Average number of employees
During the year the average number of employees was 5 (2023: 9).
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