Registered number
06545227
Manta Ray Media Limited
Filleted Accounts
31 March 2024
Manta Ray Media Limited
Registered number: 06545227
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 6,711 10,807
Current assets
Debtors 4 159,111 227,207
Cash at bank and in hand 31,039 25,770
190,150 252,977
Creditors: amounts falling due within one year 5 (226,219) (140,509)
Net current (liabilities)/assets (36,069) 112,468
Total assets less current liabilities (29,358) 123,275
Provisions for liabilities (1,678) (2,053)
Net (liabilities)/assets (31,036) 121,222
Capital and reserves
Called up share capital 2 2
Profit and loss account (31,038) 121,220
Shareholders' funds (31,036) 121,222
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.
S D Lacey
Director
Approved by the board on 24 March 2025
Manta Ray Media Limited
Notes to the Accounts
for the year ended 31 March 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 comprises revenue earned from the rendering of services. 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
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:
IT and office equipment 20% - 33.33% straight line
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.
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.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 11 11
3 Tangible fixed assets
Plant and machinery
£
Cost
At 1 April 2023 30,248
Additions 2,868
Disposals (1,460)
At 31 March 2024 31,656
Depreciation
At 1 April 2023 19,441
Charge for the year 6,900
On disposals (1,396)
At 31 March 2024 24,945
Net book value
At 31 March 2024 6,711
At 31 March 2023 10,807
4 Debtors 2024 2023
£ £
Trade debtors 151,998 175,835
Other debtors 7,113 51,372
159,111 227,207
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 47,160 -
Trade creditors 13,676 17,438
Taxation and social security costs 55,952 46,049
Other creditors 109,431 77,022
226,219 140,509
6 Other financial commitments 2024 2023
£ £
Total future minimum payments under non-cancellable operating leases 4,460 8,666
7 Controlling party
No one individual has a controlling interest in the company.
8 Other information
Manta Ray Media Limited is a private company limited by shares and incorporated in England. Its registered office is:
53 Old Park Road
London
N13 4RG
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