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REGISTERED NUMBER: 08295439 (England and Wales)














Unaudited Financial Statements

for the Year Ended 30 April 2024

for

Red Lantern Digital Media Limited

Red Lantern Digital Media Limited (Registered number: 08295439)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


Red Lantern Digital Media Limited (Registered number: 08295439)

Balance Sheet
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1,535 2,302
Tangible assets 5 34,363 20,392
35,898 22,694

CURRENT ASSETS
Debtors 6 1,940,400 935,331
Cash at bank 387,798 893,900
2,328,198 1,829,231
CREDITORS
Amounts falling due within one year 7 424,312 358,964
NET CURRENT ASSETS 1,903,886 1,470,267
TOTAL ASSETS LESS CURRENT LIABILITIES 1,939,784 1,492,961

PROVISIONS FOR LIABILITIES 8,591 3,974
NET ASSETS 1,931,193 1,488,987

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,931,093 1,488,887
SHAREHOLDERS' FUNDS 1,931,193 1,488,987

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.

Red Lantern Digital Media Limited (Registered number: 08295439)

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 January 2025 and were signed on its behalf by:




Mr L Hannam - Director



Mr J Zhe - Director


Red Lantern Digital Media Limited (Registered number: 08295439)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Red Lantern Digital Media Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 08295439

Registered office: Great Oak Farm Offices
Mag Lane
Lymm
Cheshire
WA13 0TF

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
Turnover represents net invoiced sales of services, excluding VAT. Turnover comprises of commissions earned, and is recognised in the financial statements in the period to which it relates.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised at 33.33% on reducing balance over their estimated useful life.

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Red Lantern Digital Media Limited (Registered number: 08295439)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued

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 6 (2023 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Patents
and
licences
£   
COST
At 1 May 2023
and 30 April 2024 11,657
AMORTISATION
At 1 May 2023 9,355
Amortisation for year 767
At 30 April 2024 10,122
NET BOOK VALUE
At 30 April 2024 1,535
At 30 April 2023 2,302

5. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 May 2023 61,350
Additions 15,731
At 30 April 2024 77,081
DEPRECIATION
At 1 May 2023 40,958
Charge for year 1,760
At 30 April 2024 42,718
NET BOOK VALUE
At 30 April 2024 34,363
At 30 April 2023 20,392

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 469,391 274,172
Amounts owed by group undertakings 1,412,129 548,494
Other debtors 58,880 112,665
1,940,400 935,331

Red Lantern Digital Media Limited (Registered number: 08295439)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 6,811 5,070
Amounts owed to associates 13 46,564
Taxation and social security 299,570 210,084
Other creditors 117,918 97,246
424,312 358,964

8. RELATED PARTY DISCLOSURES

Amounts owed by related parties as at the balance sheet date: 2024 2023
£ £

1,412,129 548,494

Amounts owed to related parties as at the balance sheet date:
2024 2023
£ £
(13 ) (46,564 )

These balances were outstanding as at 30 April 2024 which are included in the amounts owed by group undertakings and amounts owed to associates.

9. CONTROLLING PARTY

During the financial year, the ultimate controlling party were the shareholders of March Sports Ltd by virtue of their majority shareholding.