2024-02-292025-02-282025-02-28false09462042KRAGE MEDIA 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KRAGE MEDIA LTD

Registered Number
09462042
(England and Wales)

Unaudited Financial Statements for the Period ended
28 February 2025

KRAGE MEDIA LTD
Company Information
for the period from 29 February 2024 to 28 February 2025

Directors

D Krage
J Krage

Registered Address

179 Park Lane
Poynton
Stockport
SK12 1RH

Registered Number

09462042 (England and Wales)
KRAGE MEDIA LTD
Balance Sheet as at
28 February 2025

Notes

2025

2024

£

£

£

£

Current assets
Debtors415,6655,160
Cash at bank and on hand9,6093,833
25,2748,993
Creditors amounts falling due within one year5(12,097)(8,846)
Net current assets (liabilities)13,177147
Total assets less current liabilities13,177147
Creditors amounts falling due after one year6(420)(2,225)
Net assets12,757(2,078)
Capital and reserves
Called up share capital102102
Profit and loss account12,655(2,180)
Shareholders' funds12,757(2,078)
The financial statements were approved and authorised for issue by the Board of Directors on 12 March 2025, and are signed on its behalf by:
D Krage
Director
Registered Company No. 09462042
KRAGE MEDIA LTD
Notes to the Financial Statements
for the period ended 28 February 2025

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
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).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. These critical accounting judgements and estimations 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 critical judgements made by management that have a significant effect on the amounts recognised in the financial statements are described below.
Turnover policy
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.
Revenue from sale of goods
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.
Revenue from rendering of services
Revenue 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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
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.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Office Equipment3
2.Average number of employees

20252024
Average number of employees during the year22
3.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
At 29 February 242,6482,648
At 28 February 252,6482,648
Depreciation and impairment
At 29 February 242,6482,648
At 28 February 252,6482,648
Net book value
At 28 February 25--
At 28 February 24--
4.Debtors: amounts due within one year

2025

2024

££
Trade debtors / trade receivables-5,160
Amounts owed by group undertakings15,665-
Total15,6655,160
Short term trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.
5.Creditors: amounts due within one year

2025

2024

££
Trade creditors / trade payables-277
Bank borrowings and overdrafts1,8951,895
Taxation and social security9,0395,079
Other creditors1,1631,595
Total12,0978,846
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
6.Creditors: amounts due after one year

2025

2024

££
Bank borrowings and overdrafts4202,225
Total4202,225
7.Provisions for liabilities
Provisions are made where an event has taken place that gives the company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation. Provisions are charged as an expense to the profit and loss account in the year that the company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account the relevant risks and uncertainties. When payments are eventually made, they are charged to the provision carried in the balance sheet.