Silverfin false false 30/04/2024 01/05/2023 30/04/2024 Mr P H Borny 13/04/2021 Mrs R C Bown-Perkins 13/04/2021 Mr M J Norton 21/05/2021 30 January 2025 The principal activity of the business during the year was that of radio broadcasting. The company ceased trading on 19 March 2024. 13331607 2024-04-30 13331607 bus:Director1 2024-04-30 13331607 bus:Director2 2024-04-30 13331607 bus:Director3 2024-04-30 13331607 2023-04-30 13331607 core:CurrentFinancialInstruments 2024-04-30 13331607 core:CurrentFinancialInstruments 2023-04-30 13331607 core:ShareCapital 2024-04-30 13331607 core:ShareCapital 2023-04-30 13331607 core:RetainedEarningsAccumulatedLosses 2024-04-30 13331607 core:RetainedEarningsAccumulatedLosses 2023-04-30 13331607 core:ComputerEquipment 2023-04-30 13331607 core:ComputerEquipment 2024-04-30 13331607 bus:OrdinaryShareClass1 2024-04-30 13331607 2023-05-01 2024-04-30 13331607 bus:FilletedAccounts 2023-05-01 2024-04-30 13331607 bus:SmallEntities 2023-05-01 2024-04-30 13331607 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 13331607 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 13331607 bus:Director1 2023-05-01 2024-04-30 13331607 bus:Director2 2023-05-01 2024-04-30 13331607 bus:Director3 2023-05-01 2024-04-30 13331607 core:ComputerEquipment core:TopRangeValue 2023-05-01 2024-04-30 13331607 2022-05-01 2023-04-30 13331607 core:ComputerEquipment 2023-05-01 2024-04-30 13331607 bus:OrdinaryShareClass1 2023-05-01 2024-04-30 13331607 bus:OrdinaryShareClass1 2022-05-01 2023-04-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 13331607 (England and Wales)

LIBERATION RADIO LTD

Unaudited Financial Statements
For the financial year ended 30 April 2024
Pages for filing with the registrar

LIBERATION RADIO LTD

Unaudited Financial Statements

For the financial year ended 30 April 2024

Contents

LIBERATION RADIO LTD

BALANCE SHEET

As at 30 April 2024
LIBERATION RADIO LTD

BALANCE SHEET (continued)

As at 30 April 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 4 0 594
0 594
Current assets
Debtors 5 277 3,340
Cash at bank and in hand 7,414 6,893
7,691 10,233
Creditors: amounts falling due within one year 6 ( 4,677) ( 7,391)
Net current assets 3,014 2,842
Total assets less current liabilities 3,014 3,436
Net assets 3,014 3,436
Capital and reserves
Called-up share capital 7 30 30
Profit and loss account 2,984 3,406
Total shareholders' funds 3,014 3,436

For the financial year ending 30 April 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Liberation Radio Ltd (registered number: 13331607) were approved and authorised for issue by the Board of Directors on 30 January 2025. They were signed on its behalf by:

Mr P H Borny
Director
LIBERATION RADIO LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
LIBERATION RADIO LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 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

Liberation Radio Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 27 Old Gloucester Street, London, WC1N 3AX, United Kingdom.

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

The directors are satisfied that, having considered no less than 12 months from the date of approval of these financial statements, that the going concern basis of preparation remains appropriate

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts and rebates. Turnover from radio advertising is recognised at the date of broadcast.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

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 basis over its expected useful life, as follows:

Computer equipment 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.

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.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

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 that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

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

2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the company's accounting policies management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The directors do not consider that significant estimates or judgements have been made during the preparation of the financial statements impacting the results and position reported.

3. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 3 3

4. Tangible assets

Computer equipment Total
£ £
Cost
At 01 May 2023 843 843
Disposals ( 843) ( 843)
At 30 April 2024 0 0
Accumulated depreciation
At 01 May 2023 249 249
Charge for the financial year 281 281
Disposals ( 530) ( 530)
At 30 April 2024 0 0
Net book value
At 30 April 2024 0 0
At 30 April 2023 594 594

5. Debtors

2024 2023
£ £
Trade debtors 250 2,450
Amounts owed by directors 20 20
Prepayments 0 863
Other debtors 7 7
277 3,340

6. Creditors: amounts falling due within one year

2024 2023
£ £
Amounts owed to directors 40 40
Accruals 4,401 6,333
Taxation and social security 236 896
Other creditors 0 122
4,677 7,391

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
3 Ordinary shares of £ 10.00 each 30 30

8. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
Director 2 10 10
Director 3 10 10

As at 1 May 2023, the balance owed to the company by director 2 was £10. During the year, no advances were made to Director 2 and no repayments were made. As at 30 April 2024, the balance owed by Director 2 was £10 (2023: £10).

As at 1 May 2023, the balance owed to the company by director 3 was £10. During the year, no advances were made to Director 3 and no repayments were made. As at 30 April 2024, the balance owed by Director 3 was £10 (2023: £10).