Registered number
07905553
Limitless Broadcast Ltd
Filleted Accounts
31 January 2024
Limitless Broadcast Ltd
Registered number: 07905553
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 513,904 461,081
Current assets
Debtors 4 195,346 134,975
Cash at bank and in hand 1,446 57,519
196,792 192,494
Creditors: amounts falling due within one year 5 (212,485) (146,305)
Net current (liabilities)/assets (15,693) 46,189
Total assets less current liabilities 498,211 507,270
Creditors: amounts falling due after more than one year 6 (80,489) (84,488)
Net assets 417,722 422,782
Capital and reserves
Called up share capital 1 1
Profit and loss account 417,721 422,781
Shareholder's funds 417,722 422,782
The directors are 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 directors acknowledge their 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.
Claire Wilkie
Director
Approved by the board on 29 October 2024
Limitless Broadcast Ltd
Notes to the Accounts
for the year ended 31 January 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).
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 sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
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, 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:
Freehold buildings not depreciated
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 4 4
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 February 2023 40,261 774,358 - 814,619
Additions 5,333 173,205 28,489 207,027
At 31 January 2024 45,594 947,563 28,489 1,021,646
Depreciation
At 1 February 2023 - 353,538 - 353,538
Charge for the year - 148,506 5,698 154,204
At 31 January 2024 - 502,044 5,698 507,742
Net book value
At 31 January 2024 45,594 445,519 22,791 513,904
At 31 January 2023 40,261 420,820 - 461,081
4 Debtors 2024 2023
£ £
Trade debtors 195,298 134,927
Other debtors 48 48
195,346 134,975
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts (4,900) (4,900)
Trade creditors 252,552 175,716
Taxation and social security costs (16,681) (5,586)
Pensions payable - 674
Other creditors (18,486) (19,599)
212,485 146,305
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 39,915 48,072
Obligations under finance lease and hire purchase contracts 14,000 -
Bounce back loan 26,574 36,416
80,489 84,488
7 Other information
Limitless Broadcast Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Unit 7 Woking Business Park
Albert Drive
Woking
Surrey
GU21 5JY
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