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Registered number: 04206077
Enhance Media Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Moneypad Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 04206077
31 March 2024 31 March 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 66,395 89,731
Investments 5 1,170,000 -
1,236,395 89,731
CURRENT ASSETS
Debtors 6 1,182,239 905,410
Cash at bank and in hand 3,291,228 3,936,042
4,473,467 4,841,452
Creditors: Amounts Falling Due Within One Year 7 (798,323 ) (714,087 )
NET CURRENT ASSETS (LIABILITIES) 3,675,144 4,127,365
TOTAL ASSETS LESS CURRENT LIABILITIES 4,911,539 4,217,096
PROVISIONS FOR LIABILITIES
Deferred Taxation (7,082 ) (7,082 )
NET ASSETS 4,904,457 4,210,014
CAPITAL AND RESERVES
Called up share capital 8 1,250 1,250
Profit and Loss Account 4,903,207 4,208,764
SHAREHOLDERS' FUNDS 4,904,457 4,210,014
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Giles Guest
Director
30/09/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Enhance Media Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04206077 . The registered office is 35 Shalbourne Rise , Camberley, GU15 2EJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% Straight Line
Motor Vehicles 25% Reducing Balance
Fixtures & Fittings 10% Straight Line
Computer Equipment 25% Straight Line
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 30 (2023: 30)
30 30
Page 3
Page 4
4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 April 2023 53,799 102,500 43,564 199,863
As at 31 March 2024 53,799 102,500 43,564 199,863
Depreciation
As at 1 April 2023 52,011 15,778 42,343 110,132
Provided during the period 658 26,031 (3,353 ) 23,336
As at 31 March 2024 52,669 41,809 38,990 133,468
Net Book Value
As at 31 March 2024 1,130 60,691 4,574 66,395
As at 1 April 2023 1,788 86,722 1,221 89,731
5. Investments
Unlisted
£
Cost
As at 1 April 2023 -
Additions 1,170,000
As at 31 March 2024 1,170,000
Provision
As at 1 April 2023 -
As at 31 March 2024 -
Net Book Value
As at 31 March 2024 1,170,000
As at 1 April 2023 -
6. Debtors
31 March 2024 31 March 2023
£ £
Due within one year
Trade debtors 476,478 661,011
Prepayments and accrued income 22,980 37,116
Other debtors 127,200 961
Director's loan account 374,040 -
Amounts owed by group undertakings 181,541 206,322
1,182,239 905,410
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Page 5
7. Creditors: Amounts Falling Due Within One Year
31 March 2024 31 March 2023
£ £
Trade creditors 72,919 66,677
Corporation tax 369,719 232,361
Other taxes and social security 23,267 24,858
VAT 69,517 110,689
Other creditors 79,030 23,783
Accruals and deferred income 183,871 195,663
Director's loan account - 60,056
798,323 714,087
8. Share Capital
31 March 2024 31 March 2023
£ £
Allotted, Called up and fully paid 1,250 1,250
9. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 April 2023 Amounts advanced Amounts repaid Amounts written off As at 31 March 2024
£ £ £ £ £
Mr Giles Guest - 374,040 - - 374,040
The above loan is unsecured, interest free and will be repaid within the next 5 years from the year end.
10. Related Party Transactions
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.
Page 5