Company No:
Contents
Note | 31.03.2024 | 31.03.2023 | ||
£ | £ | |||
Fixed assets | ||||
Intangible assets | 3 |
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Tangible assets | 4 |
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636,015 | 638,668 | |||
Current assets | ||||
Stocks |
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Debtors | 5 |
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Cash at bank and in hand | 6 |
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1,539,893 | 1,386,141 | |||
Creditors: amounts falling due within one year | 7 | (
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Net current liabilities | (532,621) | (638,755) | ||
Total assets less current liabilities | 103,394 | (87) | ||
Creditors: amounts falling due after more than one year | 8 | (
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Net liabilities | (
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Capital and reserves | ||||
Called-up share capital | 9 |
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Revaluation reserve |
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Profit and loss account | (
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Total shareholder's deficit | (
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Directors' responsibilities:
These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Extreme Video Limited (registered number:
Mr Jonathan Thursby
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.
Extreme Video Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 112-114 Magdalen Street, Norwich, NR3 1JD, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.
Goodwill | not amortised |
Website costs |
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Leasehold improvements |
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Plant and machinery |
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Vehicles |
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Fixtures and fittings |
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Office equipment |
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Other property, plant and equipment |
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The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Income Statement as described below.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Year ended 31.03.2024 |
Period from 01.10.2021 to 31.03.2023 |
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Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
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Goodwill | Website costs | Total | |||
£ | £ | £ | |||
Cost | |||||
At 01 April 2023 |
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At 31 March 2024 |
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Accumulated amortisation | |||||
At 01 April 2023 |
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Charge for the financial year |
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At 31 March 2024 |
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Net book value | |||||
At 31 March 2024 |
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At 31 March 2023 |
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Leasehold improve- ments |
Plant and machinery | Vehicles | Fixtures and fittings | Office equipment | Other property, plant and equipment |
Total | |||||||
£ | £ | £ | £ | £ | £ | £ | |||||||
Cost | |||||||||||||
At 01 April 2023 |
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Additions |
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Disposals |
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Transfers |
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At 31 March 2024 |
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Accumulated depreciation | |||||||||||||
At 01 April 2023 |
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Charge for the financial year |
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Disposals |
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Transfers |
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Re-state depreciation rate |
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At 31 March 2024 |
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Net book value | |||||||||||||
At 31 March 2024 |
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At 31 March 2023 |
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31.03.2024 | 31.03.2023 | ||
£ | £ | ||
Trade debtors |
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Amounts owed by associates |
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Prepayments and accrued income |
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S455 |
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31.03.2024 | 31.03.2023 | ||
£ | £ | ||
Cash at bank and in hand |
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Less: Bank overdrafts | (
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(25,444) | (45,152) |
31.03.2024 | 31.03.2023 | ||
£ | £ | ||
Bank loans and overdrafts |
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Trade creditors |
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Amounts owed to directors |
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Other loans |
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Accruals and deferred income |
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Taxation and social security |
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Obligations under finance leases and hire purchase contracts |
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Other creditors |
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31.03.2024 | 31.03.2023 | ||
£ | £ | ||
Bank loans |
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Other loans |
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Obligations under finance leases and hire purchase contracts |
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31.03.2024 | 31.03.2023 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
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The surplus or deficit arising on the valuation of the Epic assets adjusted for the depreciation on the revalued amount as a transfer between the profit and loss which is debited or credited to the revaluation reserve.
Pensions
The Company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.
31.03.2024 | 31.03.2023 | ||
£ | £ | ||
Contributions to the scheme |
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Transactions with the entity's directors
31.03.2024 | 31.03.2023 | ||
£ | £ | ||
Owed by J J R Thursby (Director) | 154,499 | (36,375) |