Bolly Media Limited |
Notes to the Accounts |
for the year ended 30 November 2023 |
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1 |
Accounting policies |
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Basis of preparation |
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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). |
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Turnover |
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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 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. |
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Tangible fixed assets |
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Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
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Office Equipment |
20% SLM |
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Going Concern |
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The accounts are prepared on a going concern basis notwithstanding the fact that the company balance sheet has a negative equity. The company director, who is owed by the company will not recall loan owed to him until the company turns into profitability and financially able to repay. Also, the company is in agreement with the creditors and director will continue to provide financial support to the company. |
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2 |
Employees |
2022 |
2021 |
Number |
Number |
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Average number of persons employed by the company |
0 |
0 |
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3 |
Tangible fixed assets |
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Office Equipment |
Office Equipment |
£ |
£ |
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Cost |
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At 1 December 2022 |
1,663 |
1,663 |
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At 30 November 2023 |
1,663 |
1,663 |
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Depreciation |
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At 1 December 2022 |
666 |
666 |
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Charge for the year |
333 |
333 |
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At 30 November 2023 |
999 |
999 |
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Net book value |
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At 30 November 2023 |
664 |
664 |
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At 30 November 2022 |
997 |
997 |
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4 |
Debtors |
2022 |
2023 |
£ |
£ |
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VAT recoverable |
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|
263 |
105 |
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263 |
105 |
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5 |
Creditors: amounts falling due within one year |
2022 |
2023 |
£ |
£ |
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Trade creditors |
1,020 |
446 |
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Other creditors |
11,200 |
13,274 |
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|
12,220 |
13,720 |
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6 |
Other information |
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Bolly Media Limited is a private company limited by shares and incorporated in England. Its registered office is: |
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59-60 Thames Street, |
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Windsor, |
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England, |
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SL4 1TX |