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Company Registration No. 11668874 (England and Wales)
Victoria Media Network Ltd Unaudited accounts for the year ended 30 November 2023
Victoria Media Network Ltd Unaudited accounts Contents
Page
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Victoria Media Network Ltd Company Information for the year ended 30 November 2023
Director
J A M Naqiyyullah
Company Number
11668874 (England and Wales)
Registered Office
36-37 Vintage House Albert Embankment London SE1 7TL United Kingdom
Accountants
Aikon Accountants Limited 17 Hanover Square London W1S 1BN
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Victoria Media Network Ltd Statement of financial position as at 30 November 2023
2023 
2022 
Notes
£ 
£ 
Current assets
Debtors
392,421 
255,499 
Cash at bank and in hand
27,528 
196,942 
419,949 
452,441 
Creditors: amounts falling due within one year
(312,335)
(374,838)
Net current assets
107,614 
77,603 
Net assets
107,614 
77,603 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
107,613 
77,602 
Shareholders' funds
107,614 
77,603 
For the year ending 30 November 2023 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 her 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 29 November 2024 and were signed on its behalf by
J A M Naqiyyullah Director Company Registration No. 11668874
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Victoria Media Network Ltd Notes to the Accounts for the year ended 30 November 2023
1
Statutory information
Victoria Media Network Ltd is a private company, limited by shares, registered in England and Wales, registration number 11668874. The registered office is 36-37 Vintage House Albert Embankment, London, SE1 7TL, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
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.
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
Presentation currency
The financial statements are prepared in GBP, which is the functional currency of the entity.
Foreign exchange
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
289,350 
174,552 
Other debtors
103,071 
80,947 
392,421 
255,499 
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Victoria Media Network Ltd Notes to the Accounts for the year ended 30 November 2023
5
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
15,296 
4,081 
Trade creditors
198,179 
89,349 
Amounts owed to group undertakings and other participating interests
150 
150 
Taxes and social security
7,040 
8,183 
Other creditors
50,631 
71,611 
Accruals
41,039 
201,464 
312,335 
374,838 
6
Transactions with related parties
During the year the company obtained services from a related party for £56,633. As at 30.11.2023, the company owed a balance of £37,373 to the above related party (2022 - £3,053). During the year the company obtained services from a related party for £172,961 and provided services for £300,316. As at 30.11.2023, the company was owed a balance of £78,111 by the above related party (2022 - £150 Payable).
7
Controlling party
The ultimate controlling person and the sole shareholder of the company is J A M Naqiyyullah.
8
Average number of employees
During the year the average number of employees was 1 (2022: 2).
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