Company registration number 12486385 (England and Wales)
SINNYBABY MEDIA LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024
PAGES FOR FILING WITH REGISTRAR
SINNYBABY MEDIA LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
SINNYBABY MEDIA LTD
BALANCE SHEET
AS AT
28 FEBRUARY 2024
28 February 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
38,312
9,209
Current assets
Debtors
4
32,948
31,033
Investments
5
10,000
Cash at bank and in hand
10,333
14,805
43,281
55,838
Creditors: amounts falling due within one year
7
(8,161)
(16,432)
Net current assets
35,120
39,406
Total assets less current liabilities
73,432
48,615
Provisions for liabilities
(9,570)
(2,302)
Net assets
63,862
46,313
Capital and reserves
Called up share capital
8
10
10
Profit and loss reserves
63,852
46,303
Total equity
63,862
46,313
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 28 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 26 November 2024
Mr O Obano
Director
Company registration number 12486385 (England and Wales)
SINNYBABY MEDIA LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024
- 2 -
1
Accounting policies
Company information
Sinnybaby Media Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Bradbury House, Mission Court, Newport, Gwent, United Kingdom, NP20 2DW.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Tangible fixed assets
Tangible fixed assets are measured at cost, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
20% Reducing balance
Fixtures and fittings
20% Reducing balance
IT Equipment
25% Straight line
1.4
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
SINNYBABY MEDIA LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2024
1
Accounting policies
(Continued)
- 3 -
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.6
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
1
1
SINNYBABY MEDIA LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2024
- 4 -
3
Tangible fixed assets
Plant and equipment
Fixtures and fittings
IT Equipment
Total
£
£
£
£
Cost
At 1 March 2023
1,147
8,389
700
10,236
Additions
17,836
17,769
35,605
At 28 February 2024
1,147
26,225
18,469
45,841
Depreciation and impairment
At 1 March 2023
57
605
365
1,027
Depreciation charged in the year
218
3,935
2,349
6,502
At 28 February 2024
275
4,540
2,714
7,529
Carrying amount
At 28 February 2024
872
21,685
15,755
38,312
At 28 February 2023
1,090
7,784
335
9,209
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Corporation tax recoverable
1,013
Other debtors
31,935
31,033
32,948
31,033
5
Current asset investments
2024
2023
£
£
Other investments
10,000
6
Financial instruments
2024
2023
£
£
Carrying amount of financial assets
Instruments measured at fair value through profit or loss
-
10,000
SINNYBABY MEDIA LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2024
- 5 -
7
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
1,200
Corporation tax
6,785
Other creditors
8,161
8,447
8,161
16,432
8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
10
10
10
10
9
Directors' transactions
Dividends totalling £0 (2023: £2,000) were paid in the year in respect of shares held by the company's director.
The director operates a current loan account with the company, which is debited with payments made by the company on behalf of the director and credited with funds introduced and undrawn director's fees. At the year end the amount outstanding to the director was 5,861 (2023: £5,467 ). This amount is included in creditors: amounts falling due within one year.
10
Related party transactions
Included in other debtors is an amount of £30,770 (2023 - £30,000) for a loan to Sinnybaby Estates Limited, a company with the same director. This amount is included in debtors; amounts falling due within one year.
Included in other creditors is an amount of £795 (2023 - £2,050) for a loan to Sinnybaby Promotions Limited, a company with the same director. This amount is included in creditors; amounts falling due within one year.