M & Y Media Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 07229199

M & Y Media Limited

Filleted Unaudited Financial Statements

30 November 2024

M & Y Media Limited

Statement of Financial Position

30 November 2024

	30 Nov 24	31 Aug 23
Note	£	£

Fixed assets

Tangible assets	5	–	52,821

Current assets

Debtors	6	–	32,121
Cash at bank and in hand		32,579	41,009
		--------	--------
		32,579	73,130

Creditors: amounts falling due within one year	7	28,707	41,985
		--------	--------
Net current assets		3,872	31,145
		-------	--------
Total assets less current liabilities		3,872	83,966

Creditors: amounts falling due after more than one year	8	–	12,250

Provisions	–	10,036
	-------	--------
Net assets	3,872	61,680
	-------	--------

Capital and reserves

Called up share capital	100	100
Profit and loss account	3,772	61,580
	-------	--------
Shareholders funds	3,872	61,680
	-------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the period ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

M & Y Media Limited

Statement of Financial Position (continued)

30 November 2024

These financial statements were approved by the board of directors and authorised for issue on 5 March 2025 , and are signed on behalf of the board by:

Mr W Caddy

Director

Company registration number: 07229199

All income has ceased.

M & Y Media Limited

Notes to the Financial Statements

Period from 1 September 2023 to 30 November 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Brill Memorial Hall, Church Street, Brill, Aylesbury, Buckinghamshire, HP18 9RT, England.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The Company has ceased trading, with effect from 30 September 2024. The Company has net assets of £3,872 (net assets £61,680 2023). The Directors have confirmed their continuing support until the Company is formally closed. The financial statements have been prepared on a basis other than the going concern basis.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Video Camera Equipment	-	20% reducing balance
Motor vehicles	-	20% reducing balance
Office Equipment	-	20% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial assets include debtors, cash and bank balances and basic financial liabilities include creditors and loans. Basic financial instruments are initially recognised at transaction price and, where significant, are subsequently carried at amortised cost using the effective interest method, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future receipts or payments discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the period amounted to 1 (2023: 1 ).

5. Tangible assets

	Plant and machinery	Motor vehicles	Equipment	Total
	£	£	£	£
Cost
At 1 September 2023	125,788	6,490	32,640	164,918
Disposals	( 125,788)	( 6,490)	( 32,640)	( 164,918)
	---------	-------	--------	---------
At 30 November 2024	–	–	–	–
	---------	-------	--------	---------
Depreciation
At 1 September 2023	83,197	3,832	25,068	112,097
Disposals	( 83,197)	( 3,832)	( 25,068)	( 112,097)
	---------	-------	--------	---------
At 30 November 2024	–	–	–	–
	---------	-------	--------	---------
Carrying amount
At 30 November 2024	–	–	–	–
	---------	-------	--------	---------
At 31 August 2023	42,591	2,658	7,572	52,821
	---------	-------	--------	---------

6. Debtors

	30 Nov 24	31 Aug 23
	£	£
Trade debtors	–	26,234
Other debtors	–	5,887
	----	--------
	–	32,121
	----	--------

7. Creditors: amounts falling due within one year

	30 Nov 24	31 Aug 23
	£	£
Bank loans and overdrafts	–	7,000
Trade creditors	–	8,259
Social security and other taxes	10,376	22,117
Other creditors	18,331	4,609
	--------	--------
	28,707	41,985
	--------	--------

8. Creditors: amounts falling due after more than one year

	30 Nov 24	31 Aug 23
	£	£
Bank loans and overdrafts	–	12,250
	----	--------

9. Directors' advances, credits and guarantees

During the period the directors entered into the following advances and credits with the company:

	30 Nov 24
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
Mr P Colley	( 2,749)	( 5,000)	( 7,749)
Mr W Caddy	( 300)	( 9,210)	( 9,510)
	-------	--------	--------
	( 3,049)	( 14,210)	( 17,259)
	-------	--------	--------

	31 Aug 23
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
Mr P Colley	( 1,280)	( 1,469)	( 2,749)
Mr W Caddy	( 203)	( 97)	( 300)
	-------	-------	-------
	( 1,483)	( 1,566)	( 3,049)
	-------	-------	-------