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REGISTERED NUMBER: 07239443 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

FOR

VARN MEDIA LTD

VARN MEDIA LTD (REGISTERED NUMBER: 07239443)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


VARN MEDIA LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: T C Vaughton
Mrs E A Vaughton





REGISTERED OFFICE: The Old Brewery
Newtown
Bradford on Avon
Wiltshire
BA15 1NF





REGISTERED NUMBER: 07239443 (England and Wales)





ACCOUNTANTS: Andrew Cross & Co.
Chartered Certified Accountants
6 Green Lane Business Park
238 Green Lane
New Eltham
London
SE9 3TL

VARN MEDIA LTD (REGISTERED NUMBER: 07239443)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 96,333 86,674
Investments 5 335,349 358,268
431,682 444,942

CURRENT ASSETS
Work in progress - 8,547
Debtors 6 344,781 148,383
Cash at bank and in hand 151,983 171,427
496,764 328,357
CREDITORS
Amounts falling due within one year 7 205,548 140,346
NET CURRENT ASSETS 291,216 188,011
TOTAL ASSETS LESS CURRENT
LIABILITIES

722,898

632,953

CREDITORS
Amounts falling due after more than one
year

8

10,833

20,828
NET ASSETS 712,065 612,125

CAPITAL AND RESERVES
Called up share capital 9 23 20
Share premium 4,225 -
Fair value reserve 10 78,646 52,482
Retained earnings 629,171 559,623
SHAREHOLDERS' FUNDS 712,065 612,125

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

VARN MEDIA LTD (REGISTERED NUMBER: 07239443)

BALANCE SHEET - continued
30 APRIL 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 January 2025 and were signed on its behalf by:





T C Vaughton - Director


VARN MEDIA LTD (REGISTERED NUMBER: 07239443)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

Varn Media Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents invoiced work for completed projects in the year together with the relevant proportion of work in progress at the year end date and taking into account work in progress already completed at the start of the financial year, exclusive of value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

Work in progress
Work in progress is valued by taking account of the relevant proportion of sales invoices raised after the year end date, relating to work completed prior to the year end date.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2023 - 13 ) .

VARN MEDIA LTD (REGISTERED NUMBER: 07239443)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 May 2023 153,817
Additions 36,531
At 30 April 2024 190,348
DEPRECIATION
At 1 May 2023 67,143
Charge for year 26,872
At 30 April 2024 94,015
NET BOOK VALUE
At 30 April 2024 96,333
At 30 April 2023 86,674

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 May 2023 358,268
Disposals (49,999 )
Revaluations 27,080
At 30 April 2024 335,349
NET BOOK VALUE
At 30 April 2024 335,349
At 30 April 2023 358,268

Cost or valuation at 30 April 2024 is represented by:

Other
investments
£   
Valuation in 2021 238,964
Valuation in 2022 (4,154 )
Valuation in 2023 23,458
Valuation in 2024 (22,919 )
Cost 100,000
335,349

VARN MEDIA LTD (REGISTERED NUMBER: 07239443)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 201,930 107,623
Other debtors 142,851 40,760
344,781 148,383

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors - 813
Taxation and social security 162,949 89,242
Other creditors 32,599 40,291
205,548 140,346

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 10,833 20,828

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
226 Ordinary 10p 23 20
1 Preference 10p - -
23 20

10. RESERVES
Fair
value
reserve
£   
At 1 May 2023 52,482
Revaluation reserve 26,164

At 30 April 2024 78,646

VARN MEDIA LTD (REGISTERED NUMBER: 07239443)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 April 2024 and 30 April 2023:

2024 2023
£    £   
T C Vaughton
Balance outstanding at start of year 20,004 20,851
Amounts advanced 2,954 -
Amounts repaid - (847 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 22,958 20,004

12. ULTIMATE CONTROLLING PARTY

The controlling party is Littlevarn Limited, company number 14859976, registered office The Old Brewery, Newtown, Bradford on Avon, Wiltshire, BA15 1NF.

13. SHARE-BASED PAYMENT TRANSACTIONS

The company has an Enterprise Management Incentive (EMI) Scheme in place under which share options have been granted to certain eligible individuals to subscribe to ordinary shares of £1 each at an exercise price of £162.50 per ordinary share, subject ot the rules of the scheme. The share options can be exercised on, or immediately prior to occurrence, of any of the following:

1. The option to acquire 26 option shares can be exercised in the period ending 30 April 2023 subject to meeting the year 1 qualifying conditions specified in the EMI agreement.

2. The option to acquire 20 option shares if the conditions in year 1 were met, or to acquire 46 option shares if the conditions in year 1 were not met, can be exercised in the period ending 30 April 2024 subject to meeting the year 2 qualifying conditions specified in the EMI agreement.

3. The option to acquire 20 option shares if the conditions in years 1 and 2 above were met, or to acquire 40 or 46 option shares if either of the conditions in years 1 or 2 were not met, can be exercised in the period ending 30 April 2025 subject to meeting the year 1 qualifying conditions specified in the EMI agreement.

The option was exercised to acquire 26 option shares during this period. There remains 40 ordinary shares under option at the year end which are potentially exercisable.