SMARTWAY MEDIA SOLUTIONS COMMUNITY INTEREST COMPANY

Company limited by guarantee

Company Registration Number:
12068413 (England and Wales)

Unaudited statutory accounts for the year ended 30 June 2024

Period of accounts

Start date: 1 July 2023

End date: 30 June 2024

SMARTWAY MEDIA SOLUTIONS COMMUNITY INTEREST COMPANY

Contents of the Financial Statements

for the Period Ended 30 June 2024

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

SMARTWAY MEDIA SOLUTIONS COMMUNITY INTEREST COMPANY

Directors' report period ended 30 June 2024

The directors present their report with the financial statements of the company for the period ended 30 June 2024

Principal activities of the company

The principal activity of the company during the year under review was motion picture, video and television programme post-production activities.



Directors

The directors shown below have held office during the whole of the period from
1 July 2023 to 30 June 2024

C. Smart
L.M. Hartley
A.T. Saunders
D.E.R. Mewis


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
25 March 2025

And signed on behalf of the board by:
Name: C. Smart
Status: Director

SMARTWAY MEDIA SOLUTIONS COMMUNITY INTEREST COMPANY

Profit And Loss Account

for the Period Ended 30 June 2024

2024 2023


£

£
Turnover: 11,785 17,023
Cost of sales: ( 9,755 ) ( 9,068 )
Gross profit(or loss): 2,030 7,955
Distribution costs: ( 192 )
Administrative expenses: ( 3,681 ) ( 2,982 )
Operating profit(or loss): (1,843) 4,973
Interest receivable and similar income: 349 216
Profit(or loss) before tax: (1,494) 5,189
Tax: ( 1,079 )
Profit(or loss) for the financial year: (1,494) 4,110

SMARTWAY MEDIA SOLUTIONS COMMUNITY INTEREST COMPANY

Balance sheet

As at 30 June 2024

Notes 2024 2023


£

£
Fixed assets
Tangible assets: 3 772 1,030
Total fixed assets: 772 1,030
Current assets
Debtors: 4 1,184 462
Cash at bank and in hand: 3,251 14,535
Total current assets: 4,435 14,997
Creditors: amounts falling due within one year: 5 ( 522 ) ( 10,685 )
Net current assets (liabilities): 3,913 4,312
Total assets less current liabilities: 4,685 5,342
Provision for liabilities: ( 196 ) ( 195 )
Total net assets (liabilities): 4,489 5,147
Members' funds
Profit and loss account: 4,489 5,147
Total members' funds: 4,489 5,147

The notes form part of these financial statements

SMARTWAY MEDIA SOLUTIONS COMMUNITY INTEREST COMPANY

Balance sheet statements

For the year ending 30 June 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their 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.

This report was approved by the board of directors on 25 March 2025
and signed on behalf of the board by:

Name: C. Smart
Status: Director

The notes form part of these financial statements

SMARTWAY MEDIA SOLUTIONS COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 30 June 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances. Revenue from the sale of goods is recognised when all the following conditions are satisfied: the Company has transferred to the buyer the significant risks and rewards of ownership of the goods; the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; the amount of revenue can be measured reliably; it is probable that the economic benefits associated with the transaction will flow to the Company; and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

    Tangible fixed assets depreciation policy

    Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses. At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss. Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life: Plant and machinery 25% reducing balance

    Other accounting policies

    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 the surplus as reported in the income and expenditure account 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. 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 temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary 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. Current or deferred tax for the year is recognised in the income and expenditure account, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively. Trade and other debtors 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. Trade and other creditors 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.

SMARTWAY MEDIA SOLUTIONS COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 30 June 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 0 0

SMARTWAY MEDIA SOLUTIONS COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 30 June 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 July 2023 1,710 1,710
Additions
Disposals
Revaluations
Transfers
At 30 June 2024 1,710 1,710
Depreciation
At 1 July 2023 680 680
Charge for year 258 258
On disposals
Other adjustments
At 30 June 2024 938 938
Net book value
At 30 June 2024 772 772
At 30 June 2023 1,030 1,030

SMARTWAY MEDIA SOLUTIONS COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 30 June 2024

4. Debtors

2024 2023
£ £
Prepayments and accrued income 483 462
Other debtors 701
Total 1,184 462

SMARTWAY MEDIA SOLUTIONS COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 30 June 2024

5. Creditors: amounts falling due within one year note

2024 2023
£ £
Taxation and social security 977
Accruals and deferred income 522 9,708
Total 522 10,685

COMMUNITY INTEREST ANNUAL REPORT

SMARTWAY MEDIA SOLUTIONS COMMUNITY INTEREST COMPANY

Company Number: 12068413 (England and Wales)

Year Ending: 30 June 2024

Company activities and impact

We have run a number of courses which helped people in the community deal with anxiety and depression through socials. We have also had a lot of one to ones with people in the creative industry to help them deal with social difficulties. As well as delivering these courses we have been offering our services to local businesses. We have also been doing a lot or research and development into dementia and how we could incorporate our services into helping those who suffer from this condition.

Consultation with stakeholders

Consultation is based on an ongoing dialogue, face to face meetings and via social media and news groups.

Directors' remuneration

No remuneration was received

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
25 March 2025

And signed on behalf of the board by:
Name: C. Smart
Status: Director