Finest Media Ltd 11417991 false 2023-07-01 2024-06-30 2024-06-30 The principal activity of the company is Video production activities Digita Accounts Production Advanced 6.30.9574.0 true 11417991 2023-07-01 2024-06-30 11417991 2024-06-30 11417991 core:RetainedEarningsAccumulatedLosses 2024-06-30 11417991 core:ShareCapital 2024-06-30 11417991 core:CurrentFinancialInstruments 2024-06-30 11417991 core:CurrentFinancialInstruments core:WithinOneYear 2024-06-30 11417991 core:Non-currentFinancialInstruments core:AfterOneYear 2024-06-30 11417991 core:FurnitureFittingsToolsEquipment 2024-06-30 11417991 bus:SmallEntities 2023-07-01 2024-06-30 11417991 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 11417991 bus:FilletedAccounts 2023-07-01 2024-06-30 11417991 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 11417991 bus:RegisteredOffice 2023-07-01 2024-06-30 11417991 bus:Director1 2023-07-01 2024-06-30 11417991 bus:Director2 2023-07-01 2024-06-30 11417991 bus:Director3 2023-07-01 2024-06-30 11417991 bus:Director4 2023-07-01 2024-06-30 11417991 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 11417991 core:FurnitureFittingsToolsEquipment 2023-07-01 2024-06-30 11417991 core:PlantMachinery 2023-07-01 2024-06-30 11417991 countries:AllCountries 2023-07-01 2024-06-30 11417991 2023-06-30 11417991 core:FurnitureFittingsToolsEquipment 2023-06-30 11417991 2022-07-01 2023-06-30 11417991 2023-06-30 11417991 core:RetainedEarningsAccumulatedLosses 2023-06-30 11417991 core:ShareCapital 2023-06-30 11417991 core:CurrentFinancialInstruments 2023-06-30 11417991 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 11417991 core:Non-currentFinancialInstruments core:AfterOneYear 2023-06-30 11417991 core:FurnitureFittingsToolsEquipment 2023-06-30 iso4217:GBP xbrli:pure

Registration number: 11417991

Finest Media Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

Finest Media Ltd

Contents

Company Information

1

Statement of Financial Position

2

Notes to the Unaudited Financial Statements

3 to 6

 

Finest Media Ltd

Company Information

Directors

J A Barker

S Pankhurst

L A Isherwood

J H Wilson

Registered office

Manchester's Finest Group
63 Newton Street
Manchester
M1 1ET

Accountants

Nolan James Ltd
Suite 1 Armcon Business Park,
London Road South,
Poynton,
Cheshire,
SK12 1LQ

 

Finest Media Ltd

(Registration number: 11417991)
Statement of Financial Position as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

13,200

21,425

Current assets

 

Debtors

6

235

273

Cash at bank and in hand

 

1,593

8,904

 

1,828

9,177

Creditors: Amounts falling due within one year

7

(10,197)

(31,881)

Net current liabilities

 

(8,369)

(22,704)

Total assets less current liabilities

 

4,831

(1,279)

Creditors: Amounts falling due after more than one year

7

(11,626)

(15,333)

Net liabilities

 

(6,795)

(16,612)

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(6,895)

(16,712)

Shareholders' deficit

 

(6,795)

(16,612)

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 17 March 2025 and signed on its behalf by:
 

.........................................
S Pankhurst
Director

 

Finest Media Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales. The company's registered number and registered office address can be found on the Company Information page .
.

These financial statements were authorised for issue by the Board on 17 March 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,
value added tax and other sales taxes.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.
 

Tangible assets

Depreciation is provided at following annual rates in order to write off each asset over its estimated useful life.

Depreciation

Asset class

Depreciation method and rate

Plant and Machinery etc

20% On Cost

 

Finest Media Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the
lease.

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

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2023 - 6).

4

Profit/loss before tax

Arrived at after charging/(crediting)

 

Finest Media Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

2024
£

2023
£

Depreciation expense

8,226

8,525

 

Finest Media Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

5

Tangible assets

Plant and machinery etc
 £

Total
£

Cost or valuation

At 1 July 2023

42,627

42,627

At 30 June 2024

42,627

42,627

Depreciation

At 1 July 2023

21,202

21,202

Charge for the year

8,225

8,225

At 30 June 2024

29,427

29,427

Carrying amount

At 30 June 2024

13,200

13,200

At 30 June 2023

21,425

21,425

6

Debtors

Current

2024
£

2023
£

Prepayments

24

60

Other debtors

211

213

 

235

273

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8,000

8,000

Trade creditors

 

142

3,269

Taxation and social security

 

916

18,488

Other creditors

 

1,139

2,124

 

10,197

31,881

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

11,626

15,333