Silverfin false false 31/05/2024 01/06/2023 31/05/2024 Kevin Stride 09/05/2018 Martin Stride 09/05/2018 18 December 2024 The principal activity of the company continued to be that of media filming and production. SC596730 2024-05-31 SC596730 bus:Director1 2024-05-31 SC596730 bus:Director2 2024-05-31 SC596730 2023-05-31 SC596730 core:CurrentFinancialInstruments 2024-05-31 SC596730 core:CurrentFinancialInstruments 2023-05-31 SC596730 core:ShareCapital 2024-05-31 SC596730 core:ShareCapital 2023-05-31 SC596730 core:RetainedEarningsAccumulatedLosses 2024-05-31 SC596730 core:RetainedEarningsAccumulatedLosses 2023-05-31 SC596730 core:OtherPropertyPlantEquipment 2023-05-31 SC596730 core:OtherPropertyPlantEquipment 2024-05-31 SC596730 bus:OrdinaryShareClass1 2024-05-31 SC596730 2023-06-01 2024-05-31 SC596730 bus:FilletedAccounts 2023-06-01 2024-05-31 SC596730 bus:SmallEntities 2023-06-01 2024-05-31 SC596730 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 SC596730 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 SC596730 bus:Director1 2023-06-01 2024-05-31 SC596730 bus:Director2 2023-06-01 2024-05-31 SC596730 core:OtherPropertyPlantEquipment core:TopRangeValue 2023-06-01 2024-05-31 SC596730 2022-06-01 2023-05-31 SC596730 core:OtherPropertyPlantEquipment 2023-06-01 2024-05-31 SC596730 bus:OrdinaryShareClass1 2023-06-01 2024-05-31 SC596730 bus:OrdinaryShareClass1 2022-06-01 2023-05-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC596730 (Scotland)

URBANE MEDIA LIMITED

Unaudited Financial Statements
For the financial year ended 31 May 2024
Pages for filing with the registrar

URBANE MEDIA LIMITED

Unaudited Financial Statements

For the financial year ended 31 May 2024

Contents

URBANE MEDIA LIMITED

BALANCE SHEET

As at 31 May 2024
URBANE MEDIA LIMITED

BALANCE SHEET (continued)

As at 31 May 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 11,979 18,266
11,979 18,266
Current assets
Debtors 4 44,264 51,301
Cash at bank and in hand 212,261 169,019
256,525 220,320
Creditors: amounts falling due within one year 5 ( 26,346) ( 30,110)
Net current assets 230,179 190,210
Total assets less current liabilities 242,158 208,476
Provision for liabilities ( 2,255) ( 3,450)
Net assets 239,903 205,026
Capital and reserves
Called-up share capital 6 1,000 1,000
Profit and loss account 238,903 204,026
Total shareholders' funds 239,903 205,026

For the financial year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Urbane Media Limited (registered number: SC596730) were approved and authorised for issue by the Board of Directors on 18 December 2024. They were signed on its behalf by:

Martin Stride
Director
URBANE MEDIA LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2024
URBANE MEDIA LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Urbane Media Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the company's registered office is Amicable House, 252 Union Street, Aberdeen, AB10 1TN, United Kingdom. The principal place of business is Balmoral Hub, Balmoral Business Park, Loirston, Aberdeen, AB12 3JG.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for at least twelve months from the date of signing the financial statements. Thus the directors have continued to adopt the going concern basis of accounting in preparing the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Employee benefits

Defined contribution schemes
The company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Provisions

Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the company during the year, including directors 4 4

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 June 2023 63,011 63,011
Additions 4,806 4,806
Disposals ( 2,200) ( 2,200)
At 31 May 2024 65,617 65,617
Accumulated depreciation
At 01 June 2023 44,745 44,745
Charge for the financial year 11,093 11,093
Disposals ( 2,200) ( 2,200)
At 31 May 2024 53,638 53,638
Net book value
At 31 May 2024 11,979 11,979
At 31 May 2023 18,266 18,266

4. Debtors

2024 2023
£ £
Trade debtors 33,302 43,122
Other debtors 10,962 8,179
44,264 51,301

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 248 131
Corporation tax 9,401 9,373
Other taxation and social security 13,813 16,629
Other creditors 2,884 3,977
26,346 30,110

6. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
1,000 Ordinary shares of £ 1.00 each 1,000 1,000

7. Related party transactions

As at 31 May 2024 the company was due the directors £nil (2023 - £1,892). There are no set repayment terms.