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
MAYBEA MEDIA LTD
Company Information
for the year ended 29 February 2024
Company Number
07931844 (England and Wales)
Registered Office
4 Greengate
Levens
Kendal
Cumbria
LA8 8NF
Accountants
Parkin Finance Limited
MAYBEA MEDIA LTD
Statement of financial position
as at 29 February 2024
Tangible assets
28,933
11,411
Investment property
1,445,000
1,405,000
Cash at bank and in hand
26,678
48,518
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
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
MAYBEA MEDIA LTD
Notes to the Accounts
for the year ended 29 February 2024
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.
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 accounts are presented in £ sterling.
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 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 in shares are included at fair value.
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.
MAYBEA MEDIA LTD
Notes to the Accounts
for the year ended 29 February 2024
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.
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Tangible fixed assets
Plant & machinery
At 29 February 2024
40,744
At 29 February 2024
11,811
At 29 February 2024
28,933
At 28 February 2023
11,411
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.
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Investments
Other investments
Valuation at 1 March 2023
350
Valuation at 29 February 2024
-
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
MAYBEA MEDIA LTD
Notes to the Accounts
for the year ended 29 February 2024
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Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
41,864
45,879
Obligations under finance leases and hire purchase contracts
4,413
-
Taxes and social security
17,398
37,245
Other creditors
6,985
6,802
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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
-
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)
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Average number of employees
During the year the average number of employees was 5 (2023: 9).