Registered number
10543640
The Media Snug Ltd
Filleted Accounts
31 March 2024
The Media Snug Ltd
Registered number: 10543640
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 2,220 1,000
Current assets
Debtors 4 61,439 56,630
Cash at bank and in hand 8,348 6,285
69,787 62,915
Creditors: amounts falling due within one year 5 (65,425) (79,992)
Net current assets/(liabilities) 4,362 (17,077)
Total assets less current liabilities 6,582 (16,077)
Creditors: amounts falling due after more than one year 6 (24,863) (37,246)
Provisions for liabilities (422) (190)
Net liabilities (18,703) (53,513)
Capital and reserves
Called up share capital 100 100
Profit and loss account (18,803) (53,613)
Shareholder's funds (18,703) (53,513)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Adeline St John
Director
Approved by the board on 2 December 2024
The Media Snug Ltd
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
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).
The financial statements are prepared on a going concern basis. The company is dependent on the support of the director who has provided funding and security for the company. The director has confirmed that she will continue to support the company and therefore the going concern basis is believed to be appropriate.
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 rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset over its expected useful life, as follows:
Office equipment 25% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference. Current and deferred tax liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are recognised at the rate of exchange ruling at the date of the transaction.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 5 5
3 Tangible fixed assets
Office equipment
£
Cost
At 1 April 2023 3,506
Additions 2,721
Disposals (2,848)
At 31 March 2024 3,379
Depreciation
At 1 April 2023 2,506
Charge for the year 1,501
On disposals (2,848)
At 31 March 2024 1,159
Net book value
At 31 March 2024 2,220
At 31 March 2023 1,000
4 Debtors 2024 2023
£ £
Trade debtors 13,720 23,144
Other debtors 47,719 33,486
61,439 56,630
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 13,163 26,034
Trade creditors 11,106 25,774
Taxation and social security costs 23,825 10,860
Other creditors 17,331 17,324
65,425 79,992
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 24,863 37,246
7 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Adeline St John
Loan - 12,195 - 12,195
Rosemary and Benjamin Reynolds
Loan 9,546 - (500) 9,046
9,546 12,195 (500) 21,241
The director's loan to Adeline St John is unsecured and repayable on demand. Interest was charged at 2.25% per annum on the whole loan from the date that the balance reached £10,000.
Rosemary and Benjamin Reynolds are no longer directors or participators in the company. Their loan is unsecured, interest free and repayable on demand.
8 Other information
The Media Snug Ltd is a private company limited by shares and incorporated in England. Its registered office is:
128 City Road
London
EC1V 2NX
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