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Registered number: 05956953














FIFTH ESTATE MEDIA LIMITED
UNAUDITED
 FINANCIAL STATEMENTS
FOR THE YEAR ENDED  31 OCTOBER 2024

 
FIFTH ESTATE MEDIA LIMITED
 

CONTENTS



Page
Statement of Financial Position
 
1
Notes to the Financial Statements
 
2 - 5


 
FIFTH ESTATE MEDIA LIMITED
REGISTERED NUMBER:05956953

STATEMENT OF FINANCIAL POSITION
AS AT 31 OCTOBER 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
-
-

Tangible assets
 5 
668
1,641

  
668
1,641

Current assets
  

Debtors: amounts falling due within one year
 6 
18,547
13,532

Cash at bank and in hand
  
546
2,582

  
19,093
16,114

Current liabilities
  

Creditors: amounts falling due within one year
 7 
(18,712)
(16,699)

Net current assets/(liabilities)
  
 
 
381
 
 
(585)

  

Net assets
  
1,049
1,056


Capital and reserves
  

Called up share capital 
 8 
1,000
1,000

Profit and loss account
  
49
56

  
1,049
1,056


The Director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The Director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 17 March 2025.

S Trevisick
Director

The notes on pages 2 to 5 form part of these financial statements.

Page 1

 
FIFTH ESTATE MEDIA LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

1.


General information

Fifth Estate Media Limited is a limited liability Company registered in England and Wales. Its registered office address is at Flat 4 Thornton House, 202b Denmark Hill, London, SE5 8EE.
The principal activity of the Company during the year was that of video production. 
The financial statements are presented in £ sterling, which is the functional currency of the Company. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover comprises of revenue recognised by the company in respect of services supplied in the year exclusive of trade discounts and excluding value added tax. Revenue is recognised when the service is provided. 

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.


 
2.6

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Page 2

 
FIFTH ESTATE MEDIA LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
Fixtures and fittings
-
25%
Computer equipment
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Basic financial instruments


The Company only enters into transactions that result in basic financial instruments such as trade and other debtors, trade and other creditors, cash at bank and in hand, loans to related parties.
Trade debtors, other debtors and loans to related parties are recognised initially at the transaction price less attributable transaction costs. Trade creditors, other creditors and loans from related parties are recognised initially at transaction price plus attributable transaction costs. Subsequently they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade and other debtors, and loans to related parties.
Interest bearing borrowings, such bank loans, classified as basic financial instruments are recognised
initially at the present value of future payments discounted at a market rate of interest. Thereafter
they are stated at amortised cost using the effective interest method.
Cash and cash equivalents comprise cash balances and call deposits.

 
2.9

Dividends

Equity dividends are recognised when they become legally payable.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

Page 3

 
FIFTH ESTATE MEDIA LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

4.


Intangible assets




Goodwill

£



Cost


At 1 November 2023
21,800



At 31 October 2024

21,800



Amortisation


At 1 November 2023
21,800



At 31 October 2024

21,800



Net book value



At 31 October 2024
-



At 31 October 2023
-




5.


Tangible fixed assets





Fixtures and fittings
Computer equipment
Total

£
£
£



Cost or valuation


At 1 November 2023
593
3,709
4,302



At 31 October 2024

593
3,709
4,302



Depreciation


At 1 November 2023
507
2,153
2,660


Charge for the year on owned assets
86
888
974



At 31 October 2024

593
3,041
3,634



Net book value



At 31 October 2024
-
668
668



At 31 October 2023
86
1,556
1,642

Page 4

 
FIFTH ESTATE MEDIA LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

6.


Debtors

2024
2023
£
£


Other debtors
17,297
10,142

Prepayments and accrued income
1,250
3,390

18,547
13,532



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
80
80

Other taxation and social security
14,826
12,959

Accruals and deferred income
3,806
3,660

18,712
16,699



8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



950 (2023 - 950) Ordinary shares of £1 each
950
950
50 (2023 - 50) Ordinary A shares of £1 each
50
50

1,000

1,000


 
Page 5