REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31st December 2024 |
for |
RED WING MEDIA LIMITED |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31st December 2024 |
for |
RED WING MEDIA LIMITED |
RED WING MEDIA LIMITED (REGISTERED NUMBER: 06377429) |
Contents of the Financial Statements |
for the year ended 31st December 2024 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
RED WING MEDIA LIMITED |
Company Information |
for the year ended 31st December 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Office: Croydon - TC SWP |
3rd Floor, Suffolk House |
George Street |
Croydon |
CR0 0YN |
RED WING MEDIA LIMITED (REGISTERED NUMBER: 06377429) |
Statement of Financial Position |
31st December 2024 |
31.12.24 | 31.12.23 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Capital redemption reserve |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
RED WING MEDIA LIMITED (REGISTERED NUMBER: 06377429) |
Statement of Financial Position - continued |
31st December 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
RED WING MEDIA LIMITED (REGISTERED NUMBER: 06377429) |
Notes to the Financial Statements |
for the year ended 31st December 2024 |
1. | STATUTORY INFORMATION |
Red Wing Media Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Revenue |
Revenue compromises amounts receivable for the rendering of marketing and PR services, and is recognised at the point of sale to the extent that it is probably that the economic benefits will flow to the company and the turnover can be reliably measured. Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Tangible fixed assets under the cost model are stated at the historical cost less accumulated depreciation. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. |
Depreciation is charged as so to allocate the cost of assets less their residual values over their estimated useful lives, on the following basis: |
Computer equipment | - 33% straight line |
Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the statement of comprehensive income. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date. |
Debtors |
Short term debtors are measured at transaction price, less any impairment. |
Cash and cash equivalents |
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. |
Creditors |
Short term creditors are measured at the transaction price. |
RED WING MEDIA LIMITED (REGISTERED NUMBER: 06377429) |
Notes to the Financial Statements - continued |
for the year ended 31st December 2024 |
2. | ACCOUNTING POLICIES - continued |
Financial instruments |
The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors and loans to related parties. |
Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. |
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the balance sheet date. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | PROPERTY, PLANT AND EQUIPMENT |
Computer |
equipment |
£ |
COST |
At 1st January 2024 |
Disposals | ( |
) |
At 31st December 2024 |
DEPRECIATION |
At 1st January 2024 |
Eliminated on disposal | ( |
) |
At 31st December 2024 |
NET BOOK VALUE |
At 31st December 2024 |
At 31st December 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.24 | 31.12.23 |
£ | £ |
Trade debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.24 | 31.12.23 |
£ | £ |
Trade creditors |
Amounts owed to associates | 667,927 | 781,893 |
Tax |
Other creditors |
RED WING MEDIA LIMITED (REGISTERED NUMBER: 06377429) |
Notes to the Financial Statements - continued |
for the year ended 31st December 2024 |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.12.24 | 31.12.23 |
£ | £ |
Other creditors |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.12.24 | 31.12.23 |
value: | £ | £ |
Ordinary shares | £1 | 200 | 200 |
There is a single class of ordinary share. There are no restrictions on the distribution of dividends and the repayment of capital. |