1 01/04/2023 31/03/2024 2024-03-31 false false false false false false false true false false true false false false false false false false No description of principal activities is disclosed 2023-04-01 Sage Accounts Production 24.0 - FRS102_2024 xbrli:pure xbrli:shares iso4217:GBP 10131185 2023-04-01 2024-03-31 10131185 2024-03-31 10131185 2023-03-31 10131185 2022-04-01 2023-03-31 10131185 2023-03-31 10131185 2022-03-31 10131185 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 10131185 bus:RegisteredOffice 2023-04-01 2024-03-31 10131185 bus:Director1 2023-04-01 2024-03-31 10131185 core:FurnitureFittingsToolsEquipment 2023-03-31 10131185 core:FurnitureFittingsToolsEquipment 2024-03-31 10131185 core:WithinOneYear 2024-03-31 10131185 core:WithinOneYear 2023-03-31 10131185 core:AfterOneYear 2024-03-31 10131185 core:AfterOneYear 2023-03-31 10131185 core:ShareCapital 2024-03-31 10131185 core:ShareCapital 2023-03-31 10131185 core:RetainedEarningsAccumulatedLosses 2024-03-31 10131185 core:RetainedEarningsAccumulatedLosses 2023-03-31 10131185 core:FurnitureFittingsToolsEquipment 2023-03-31 10131185 bus:SmallEntities 2023-04-01 2024-03-31 10131185 bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 10131185 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 10131185 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 10131185 bus:FullAccounts 2023-04-01 2024-03-31
Company registration number: 10131185
Youngs Media Productions Ltd
Unaudited filleted financial statements
31 March 2024
Youngs Media Productions Ltd
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
Youngs Media Productions Ltd
Directors and other information
Director Mr C Young
Company number 10131185
Registered office 9 Aquarelle House
259 City Road
London
EC1V 1AG
Youngs Media Productions Ltd
Statement of financial position
31 March 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 1,004 95
_______ _______
1,004 95
Current assets
Debtors 6 10,616 1,700
Cash at bank and in hand 41,130 41,222
_______ _______
51,746 42,922
Creditors: amounts falling due
within one year 7 ( 23,522) ( 15,321)
_______ _______
Net current assets 28,224 27,601
_______ _______
Total assets less current liabilities 29,228 27,696
Creditors: amounts falling due
after more than one year 8 ( 7,135) ( 16,681)
_______ _______
Net assets 22,093 11,015
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 21,993 10,915
_______ _______
Shareholders funds 22,093 11,015
_______ _______
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- 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;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 16 December 2024 , and are signed on behalf of the board by:
Mr C Young
Director
Company registration number: 10131185
Youngs Media Productions Ltd
Notes to the financial statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 9 Aquarelle House, 259 City Road, London, EC1V 1AG.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for services rendered, net of discounts and Value Added Tax.
Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliable estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
No provision for deferred taxation has been provided for in the financial statements, due to the amount not being material.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment - 25 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
A financial asset or a financial liability is recognised only when the company 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.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Tangible assets
Fixtures, fittings and equipment Total
£ £
Cost
At 1 April 2023 2,061 2,061
Additions 971 971
_______ _______
At 31 March 2024 3,032 3,032
_______ _______
Depreciation
At 1 April 2023 1,966 1,966
Charge for the year 62 62
_______ _______
At 31 March 2024 2,028 2,028
_______ _______
Carrying amount
At 31 March 2024 1,004 1,004
_______ _______
At 31 March 2023 95 95
_______ _______
6. Debtors
2024 2023
£ £
Trade debtors 10,185 1,286
Other debtors 431 414
_______ _______
10,616 1,700
_______ _______
7. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 4,085 6,085
Trade creditors 7,572 3,146
Corporation tax 7,368 4,394
Social security and other taxes 3,395 593
Other creditors 1,102 1,103
_______ _______
23,522 15,321
_______ _______
8. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans and overdrafts 7,135 16,681
_______ _______