Company Registration No. 08769352 (England and Wales)
ABLE MEDIA LTD
Unaudited accounts
for the year ended 31 December 2024
ABLE MEDIA LTD
Unaudited accounts
Contents
ABLE MEDIA LTD
Company Information
for the year ended 31 December 2024
Directors
Mr M.C. Anderson
Mr N. Barratt
Mr E. Miles
Company Number
08769352 (England and Wales)
Registered Office
7 Lyme Street
London
NW1 0EH
England
Accountants
Stephen Beard Accountancy Services
10 Cheshire Road
Thame
Oxon
OX9 3LQ
ABLE MEDIA LTD
Statement of financial position
as at 31 December 2024
Tangible assets
6,721
13,993
Cash at bank and in hand
41,232
23,819
Creditors: amounts falling due within one year
(129,674)
(163,723)
Net current assets
50,734
70,187
Total assets less current liabilities
57,455
84,180
Provisions for liabilities
Deferred tax
(1,277)
(2,398)
Other provisions
-
(5,000)
Called up share capital
200
200
Profit and loss account
55,978
76,582
Shareholders' funds
56,178
76,782
For the year ending 31 December 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 5 March 2025 and were signed on its behalf by
Mr N. Barratt
Director
Company Registration No. 08769352
ABLE MEDIA LTD
Notes to the Accounts
for the year ended 31 December 2024
ABLE MEDIA LTD is a private company, limited by shares, registered in England and Wales, registration number 08769352. The registered office is 7 Lyme Street, London, NW1 0EH, England.
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% Straight line basis
Computer equipment
25% Straight line basis
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.
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.
Monetary 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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
ABLE MEDIA LTD
Notes to the Accounts
for the year ended 31 December 2024
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.
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.
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Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 January 2024
51,991
77,963
129,954
Disposals
(49,128)
(30,270)
(79,398)
At 31 December 2024
2,863
47,693
50,556
At 1 January 2024
51,177
64,784
115,961
Charge for the year
814
6,458
7,272
On disposals
(49,128)
(30,270)
(79,398)
At 31 December 2024
2,863
40,972
43,835
At 31 December 2024
-
6,721
6,721
At 31 December 2023
814
13,179
13,993
Amounts falling due within one year
Trade debtors
134,370
178,637
Accrued income and prepayments
2,675
30,454
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Creditors: amounts falling due within one year
2024
2023
Trade creditors
1,752
25,925
Taxes and social security
795
19,392
Loans from directors
100,073
91,251
ABLE MEDIA LTD
Notes to the Accounts
for the year ended 31 December 2024
7
Deferred taxation
2024
2023
Accelerated capital allowances
1,277
2,398
Provision at start of year
2,398
5,322
Credited to the profit and loss account
(1,121)
(2,924)
Provision at end of year
1,277
2,398
8
Provisions for liabilities
£
Provision for dilapidation costs
9
Operating lease commitments
2024
2023
At 31 December 2024 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
-
26,133
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Director's loan account
-
1,000
-
1,000
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Average number of employees
During the year the average number of employees was 7 (2023: 10).