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Logo On Report
Registered Number: 09649579
England and Wales

 

 

 

SO-MEDIA PRODUCTIONS LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 July 2023

End date: 30 June 2024
Directors Suzanne Rowson
Daniel Rowson
Registered Number 09649579
Registered Office 25 Wilton Road
London
SW1V 1LW
Accountants Ward Williams Creatives Limited
Belgrave House
39-43 Monument Hill
Weybridge
Surrey
KT13 8RN
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 1,455    1,640 
Investments 4 100,000   
101,455    1,640 
Current assets      
Debtors 5 101,529    49,749 
Cash at bank and in hand 669,390    817,599 
770,919    867,348 
Creditors: amount falling due within one year 6 (115,005)   (69,673)
Net current assets 655,914    797,675 
 
Total assets less current liabilities 757,369    799,315 
Provisions for liabilities 7 (364)  
Net assets 757,005    799,315 
 

Capital and reserves
     
Called up share capital 2    2 
Profit and loss account 757,003    799,313 
Shareholders' funds 757,005    799,315 
 


For the year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 15 November 2024 and were signed on its behalf by:


-------------------------------
Suzanne Rowson
Director
2
General Information
So-Media Productions Ltd is a private company, limited by shares, registered in England and Wales, registration number 09649579, registration address 25 Wilton Road, London, SW1V 1LW.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using 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.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Current and deferred tax assets and liabilities are not discounted.
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Computer Equipment 33% Straight Line
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
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.
2.

Average number of employees

Average number of employees during the year was 2 (2023 : 8).
3.

Tangible fixed assets

Cost or valuation Computer Equipment   Total
  £   £
At 01 July 2023 32,822    32,822 
Additions 1,923    1,923 
Disposals  
At 30 June 2024 34,745    34,745 
Depreciation
At 01 July 2023 31,182    31,182 
Charge for year 2,108    2,108 
On disposals  
At 30 June 2024 33,290    33,290 
Net book values
Closing balance as at 30 June 2024 1,455    1,455 
Opening balance as at 01 July 2023 1,640    1,640 


4.

Investments

Cost Other investments other than loans   Total
  £   £
At 01 July 2023  
Additions 100,000    100,000 
Transfer to/from tangible fixed assets  
Disposals  
At 30 June 2024 100,000    100,000 

5.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 99,046    48,325 
Other Debtors 139    139 
VAT   1,285 
99,185    49,749 

5.

Debtors: amounts falling due after one year

2024
£
  2023
£
Prepayments 2,344   
2,344   

6.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 17,227    52,387 
Corporation Tax 63,377    13,812 
PAYE & Social Security 1,244   
Wages & Salaries Control Account   1,574 
Directors' Current Accounts 40    1,900 
VAT 33,117   
115,005    69,673 

7.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 364   
364   

8.

Investment in Bond

On 01 March 2024, the business invested £100,000 in a business bond, which will be matured on 01 March 2025. The annual interest rate is 3.6% and interest will be paid annually. 

3