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Registered number: 05783252
Smalltown Content Limited
ABRIDGED Financial Statements
For The Year Ended 31 August 2024
David H Evans Ltd
Contents
Page
Accountant's Report 1
Abridged Statement of Financial Position 2—3
Notes to the Abridged Financial Statements 4—6
Page 1
Accountant's Report
Chartered Accountant's report to the director on the preparation of the unaudited statutory accounts of Smalltown Content Limited For The Year Ended 31 August 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Smalltown Content Limited For The Year Ended 31 August 2024 which comprise the Income Statement, the Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given to us.
As a practising member of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/membership/regulations-standards-and-guidance.
This report is made solely to the director of Smalltown Content Limited , as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Smalltown Content Limited and state those matters that we have agreed to state to the director of Smalltown Content Limited , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Smalltown Content Limited and its director, as a body, for our work or for this report.
It is your duty to ensure that Smalltown Content Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Smalltown Content Limited . You consider that Smalltown Content Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit of the accounts of Smalltown Content Limited . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
26/03/2025
David H Evans Ltd
Chartered Accountants
Unit 27B, Mitton Road Business Park
Mitton Road
Whalley
Lancashire
BB7 9YE
Page 1
Page 2
Abridged Statement of Financial Position
Registered number: 05783252
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 14,316 13,773
14,316 13,773
CURRENT ASSETS
Debtors 5 145,410 168,736
Cash at bank and in hand 12,466 16,950
157,876 185,686
Creditors: Amounts Falling Due Within One Year (8,248 ) (13,576 )
NET CURRENT ASSETS (LIABILITIES) 149,628 172,110
TOTAL ASSETS LESS CURRENT LIABILITIES 163,944 185,883
Creditors: Amounts Falling Due After More Than One Year (12,791 ) (14,121 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (2,720 ) (2,617 )
NET ASSETS 148,433 169,145
CAPITAL AND RESERVES
Called up share capital 6 1,000 1,000
Income Statement 147,433 168,145
SHAREHOLDERS' FUNDS 148,433 169,145
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Page 3
For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
All of the company's members have consented to the preparation of an Abridged Statement of Financial Position for the year end 31 August 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr Graham Sherrington
Director
26/03/2025
The notes on pages 4 to 6 form part of these financial statements.
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Page 4
Notes to the Abridged Financial Statements
1. General Information
Smalltown Content Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05783252 . The registered office is Unit 27B Mitton Road Business Park, Mitton Road, Whalley, Clitheroe, BB7 9YE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
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. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 25% straight line
Fixtures & Fittings 25% straight line
Computer Equipment 15% reducing balance
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
...CONTINUED
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2.4. Taxation - continued
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Tangible Assets
Total
£
Cost
As at 1 September 2023 68,225
Additions 3,395
As at 31 August 2024 71,620
Depreciation
As at 1 September 2023 54,452
Provided during the period 2,852
As at 31 August 2024 57,304
Net Book Value
As at 31 August 2024 14,316
As at 1 September 2023 13,773
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5. Debtors
2024 2023
£ £
Due after more than one year
Trade debtors 5,075 18,000
Private loans 9,161 12,411
Company to company loan (30,000 ) -
(15,764 ) 30,411
6. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,000 1,000
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