Registered number
08423940
Electric Media Limited
Filleted Accounts
31 May 2024
Electric Media Limited
Registered number: 08423940
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 - 250
Tangible assets 4 201 403
201 653
Current assets
Debtors 5 21,104 16,102
Cash at bank and in hand 27,994 35,853
49,098 51,955
Creditors: amounts falling due within one year 6 (27,965) (28,134)
Net current assets 21,133 23,821
Total assets less current liabilities 21,334 24,474
Creditors: amounts falling due after more than one year 7 (20,951) (24,362)
Net assets 383 112
Capital and reserves
Called up share capital 2 2
Profit and loss account 381 110
Shareholders' funds 383 112
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Christopher Rundle
Director
Approved by the board on 9 February 2025
Electric Media Limited
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Intangible fixed assets £
Goodwill:
Cost
At 1 June 2023 2,500
At 31 May 2024 2,500
Amortisation
At 1 June 2023 2,250
Provided during the year 250
At 31 May 2024 2,500
Net book value
At 31 May 2024 -
At 31 May 2023 250
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 June 2023 3,036
At 31 May 2024 3,036
Depreciation
At 1 June 2023 2,633
Charge for the year 202
At 31 May 2024 2,835
Net book value
At 31 May 2024 201
At 31 May 2023 403
5 Debtors 2024 2023
£ £
Trade debtors 15,159 12,834
Other debtors 5,945 3,268
21,104 16,102
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 3,382 3,238
Trade creditors 1,208 3,985
Taxation and social security costs 21,698 19,542
Other creditors 1,677 1,369
27,965 28,134
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 20,951 24,362
8 Other information
Electric Media Limited is a private company limited by shares and incorporated in England. Its registered office is:
Future Space North Gate (UWE)
Filton Road
Stoke Gifford
Bristol
BS34 8RB
Electric Media Limited 08423940 false 2023-06-01 2024-05-31 2024-05-31 VT Final Accounts July 2024 Christopher Rundle No description of principal activity 08423940 2022-06-01 2023-05-31 08423940 core:WithinOneYear 2023-05-31 08423940 core:AfterOneYear 2023-05-31 08423940 core:ShareCapital 2023-05-31 08423940 core:RetainedEarningsAccumulatedLosses 2023-05-31 08423940 2023-06-01 2024-05-31 08423940 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 08423940 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 08423940 bus:Director40 2023-06-01 2024-05-31 08423940 1 2023-06-01 2024-05-31 08423940 2 2023-06-01 2024-05-31 08423940 core:Goodwill 2023-06-01 2024-05-31 08423940 core:PlantMachinery 2023-06-01 2024-05-31 08423940 countries:England 2023-06-01 2024-05-31 08423940 bus:FRS102 2023-06-01 2024-05-31 08423940 bus:FilletedAccounts 2023-06-01 2024-05-31 08423940 2024-05-31 08423940 core:WithinOneYear 2024-05-31 08423940 core:AfterOneYear 2024-05-31 08423940 core:ShareCapital 2024-05-31 08423940 core:RetainedEarningsAccumulatedLosses 2024-05-31 08423940 core:Goodwill 2024-05-31 08423940 core:PlantMachinery 2024-05-31 08423940 2023-05-31 08423940 core:Goodwill 2023-05-31 08423940 core:PlantMachinery 2023-05-31 iso4217:GBP xbrli:pure