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Company Registration No. 06491633 (England and Wales)
MTP Media (2008) Limited Unaudited accounts for the year ended 31 August 2024
MTP Media (2008) Limited Unaudited accounts Contents
Page
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MTP Media (2008) Limited Company Information for the year ended 31 August 2024
Directors
A Sanderson D Lowes
Company Number
06491633 (England and Wales)
Registered Office
The Sidings Beezon Fields Kendal Cumbria LA9 6BL
Accountants
Parkin Finance Limited
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MTP Media (2008) Limited Statement of financial position as at 31 August 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
674,911 
667,806 
Current assets
Inventories
18,000 
18,000 
Debtors
172,328 
203,481 
Cash at bank and in hand
78,766 
49,050 
269,094 
270,531 
Creditors: amounts falling due within one year
(204,203)
(218,169)
Net current assets
64,891 
52,362 
Total assets less current liabilities
739,802 
720,168 
Creditors: amounts falling due after more than one year
(287,114)
(311,324)
Provisions for liabilities
Deferred tax
(66,633)
(63,013)
Net assets
386,055 
345,831 
Capital and reserves
Called up share capital
9,002 
9,002 
Profit and loss account
377,053 
336,829 
Shareholders' funds
386,055 
345,831 
For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 11 December 2024 and were signed on its behalf by
A Sanderson Director Company Registration No. 06491633
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MTP Media (2008) Limited Notes to the Accounts for the year ended 31 August 2024
1
Statutory information
MTP Media (2008) Limited is a private company, limited by shares, registered in England and Wales, registration number 06491633. The registered office is The Sidings, Beezon Fields, Kendal, Cumbria, LA9 6BL.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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 and depreciation
Tangible assets are included at cost less depreciation and impairment. The directors consider that the freehold land and buildings are maintained in such a state of repair that their residual value is at least equal to their net book value. As a result, the corresponding depreciation would not be material and therefore is not charged in the profit and loss account. The directors perform annual impairment reviews to ensure that the recoverable amount is not lower than the carrying value. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
Nil / 25 years straight line / 2% straight line
Plant & machinery
15% reducing balance / 6 years straight line
Motor vehicles
15% reducing balance
Fixtures & fittings
15% reducing balance
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
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MTP Media (2008) Limited Notes to the Accounts for the year ended 31 August 2024
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 September 2023
20,000 
At 31 August 2024
20,000 
Amortisation
At 1 September 2023
20,000 
At 31 August 2024
20,000 
Net book value
At 31 August 2024
- 
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MTP Media (2008) Limited Notes to the Accounts for the year ended 31 August 2024
5
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 September 2023
452,357 
588,715 
49,502 
38,477 
1,129,051 
Additions
- 
33,500 
22,990 
1,958 
58,448 
Disposals
- 
(3,600)
(17,745)
- 
(21,345)
At 31 August 2024
452,357 
618,615 
54,747 
40,435 
1,166,154 
Depreciation
At 1 September 2023
38,644 
366,323 
29,412 
26,866 
461,245 
Charge for the year
1,366 
34,174 
2,744 
1,962 
40,246 
On disposals
- 
(45)
(10,203)
- 
(10,248)
At 31 August 2024
40,010 
400,452 
21,953 
28,828 
491,243 
Net book value
At 31 August 2024
412,347 
218,163 
32,794 
11,607 
674,911 
At 31 August 2023
413,713 
222,392 
20,090 
11,611 
667,806 
2024 
2023 
Carrying values included above held under finance leases and hire purchase contracts:
£ 
£ 
- Plant & machinery
105,500 
141,391 
- Motor vehicles
4,604 
20,089 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
14,853 
18,787 
Trade debtors
146,841 
180,166 
Accrued income and prepayments
10,634 
4,528 
172,328 
203,481 
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MTP Media (2008) Limited Notes to the Accounts for the year ended 31 August 2024
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
20,900 
26,248 
Obligations under finance leases and hire purchase contracts
28,660 
32,362 
Trade creditors
124,756 
142,669 
Taxes and social security
25,677 
5,075 
Other creditors
978 
997 
Loans from directors
642 
2,109 
Accruals
2,590 
8,709 
204,203 
218,169 
Included within bank loans and overdrafts of £20,900 (2023 £26,248) is an overdraft which is secured by a fixed and floating charge over the undertaking and all property and assets present and future, including goodwill, book debts, uncalled capital, buildings and fixed plant and machinery. The bank loans are secured by a fixed and floating charge over the property to which they relate. Finance leases totaling £28,660 (2023 £32,362) are secured over the asset the which they relate.
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
207,171 
227,145 
Obligations under finance leases and hire purchase contracts
62,199 
65,236 
Deferred income
17,744 
18,943 
287,114 
311,324 
Aggregate of amounts that fall due for payment after five years
142,671 
150,610 
Bank loans are secured by a fixed and floating charge over the property to which they relate. Finance leases totaling £62,199 (2023 £65,236) are secured over the asset to which they relate.
9
Average number of employees
During the year the average number of employees was 13 (2023: 13).
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