Prepared Media Limited 08307674 false 2023-12-01 2024-11-30 2024-11-30 The principal activity of the company is pre-press and pre-media services. Digita Accounts Production Advanced 6.30.9574.0 true true 08307674 2023-12-01 2024-11-30 08307674 2024-11-30 08307674 core:CurrentFinancialInstruments 2024-11-30 08307674 core:CurrentFinancialInstruments core:WithinOneYear 2024-11-30 08307674 core:Non-currentFinancialInstruments 2024-11-30 08307674 core:Non-currentFinancialInstruments core:AfterOneYear 2024-11-30 08307674 core:WithinOneYear 2024-11-30 08307674 core:FurnitureFittings 2024-11-30 08307674 core:LandBuildings core:LongLeaseholdAssets 2024-11-30 08307674 core:OfficeEquipment 2024-11-30 08307674 1 2024-11-30 08307674 bus:SmallEntities 2023-12-01 2024-11-30 08307674 bus:AuditExemptWithAccountantsReport 2023-12-01 2024-11-30 08307674 bus:FilletedAccounts 2023-12-01 2024-11-30 08307674 bus:SmallCompaniesRegimeForAccounts 2023-12-01 2024-11-30 08307674 bus:RegisteredOffice 2023-12-01 2024-11-30 08307674 bus:Director1 2023-12-01 2024-11-30 08307674 bus:Director4 2023-12-01 2024-11-30 08307674 bus:PrivateLimitedCompanyLtd 2023-12-01 2024-11-30 08307674 1 2023-12-01 2024-11-30 08307674 core:FurnitureFittings 2023-12-01 2024-11-30 08307674 core:LandBuildings 2023-12-01 2024-11-30 08307674 core:LandBuildings core:LongLeaseholdAssets 2023-12-01 2024-11-30 08307674 core:OfficeEquipment 2023-12-01 2024-11-30 08307674 core:PlantMachinery 2023-12-01 2024-11-30 08307674 countries:EnglandWales 2023-12-01 2024-11-30 08307674 1 2023-12-01 2024-11-30 08307674 2023-11-30 08307674 core:FurnitureFittings 2023-11-30 08307674 core:LandBuildings core:LongLeaseholdAssets 2023-11-30 08307674 core:OfficeEquipment 2023-11-30 08307674 1 2023-11-30 08307674 2022-12-01 2023-11-30 08307674 2023-11-30 08307674 core:CurrentFinancialInstruments 2023-11-30 08307674 core:CurrentFinancialInstruments core:WithinOneYear 2023-11-30 08307674 core:Non-currentFinancialInstruments 2023-11-30 08307674 core:Non-currentFinancialInstruments core:AfterOneYear 2023-11-30 08307674 core:WithinOneYear 2023-11-30 08307674 core:FurnitureFittings 2023-11-30 08307674 core:LandBuildings core:LongLeaseholdAssets 2023-11-30 08307674 core:OfficeEquipment 2023-11-30 08307674 1 2023-11-30 08307674 1 2022-12-01 2023-11-30 08307674 1 2022-12-01 2023-11-30 08307674 2022-11-30 08307674 1 2022-11-30 iso4217:GBP xbrli:pure

Registration number: 08307674

Prepared Media Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2024

 

Prepared Media Limited

Contents

Statement of Financial Position

1 to 2

Statement of Cash Flows

3

Notes to the Unaudited Financial Statements

4 to 11

 

Prepared Media Limited

(Registration number: 08307674)
Statement of Financial Position as at 30 November 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,499

2,219

Current assets

 

Debtors

5

260,378

231,663

Cash at bank and in hand

 

3,126

21,000

 

263,504

252,663

Creditors: Amounts falling due within one year

6

(192,406)

(168,746)

Net current assets

 

71,098

83,917

Total assets less current liabilities

 

72,597

86,136

Creditors: Amounts falling due after more than one year

6

(12,947)

(22,910)

Provisions for liabilities

(285)

(422)

Net assets

 

59,365

62,804

Capital and reserves

 

Called up share capital

300

300

Profit and loss account

59,065

62,504

Shareholders' funds

 

59,365

62,804

For the financial year 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 accounts for the year in question in accordance with section 476; and

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

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the Board on 2 April 2025 and signed on its behalf by:
 

 

Prepared Media Limited

(Registration number: 08307674)
Statement of Financial Position as at 30 November 2024 (continued)


Mr M Sanders
Director


Mr M A Pillinger
Director

Approved and authorised by the Board on 2 April 2025 and signed on its behalf by:
 

.........................................
Mr M Sanders
Director

.........................................
Mr M A Pillinger
Director

 
     
 

Prepared Media Limited

Statement of Cash Flows for the Year Ended 30 November 2024

Note

2024
£

2023
£

Cash flows from operating activities

Profit for the year

 

152,561

144,747

Adjustments to cash flows from non-cash items

 

Depreciation and amortisation

500

740

Loss on disposal of tangible assets

528

399

Finance income

(118)

(137)

Finance costs

6,838

6,282

Income tax expense

49,974

42,604

 

210,283

194,635

Working capital adjustments

 

Increase in debtors

5

(28,715)

(27,102)

Increase/(decrease) in creditors

6

14,410

(7,147)

Cash generated from operations

 

195,978

160,386

Income taxes paid

(51,571)

(25,047)

Net cash flow from operating activities

 

144,407

135,339

Cash flows from investing activities

 

Interest received

118

137

Acquisitions of tangible assets

(307)

(1,216)

Proceeds from sale of tangible assets

 

(1)

-

Net cash flows from investing activities

 

(190)

(1,079)

Cash flows from financing activities

 

Interest paid

(6,838)

(6,282)

Proceeds from bank borrowing draw downs

 

(10,029)

(10,105)

Dividends paid

(156,000)

(126,000)

Net cash flows from financing activities

 

(172,867)

(142,387)

Net decrease in cash and cash equivalents

 

(28,650)

(8,127)

Cash and cash equivalents at 1 December

 

8,451

16,578

Cash and cash equivalents at 30 November

 

(20,199)

8,451

 

Prepared Media Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Tallford House
38 Walliscote Road
Weston-super-Mare
Somerset
BS23 1LP

Principal activity

The principal activity of the company is pre-press and pre-media services.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

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

Going concern

The financial statements have been prepared on a going concern basis.

 

Prepared Media Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)

2

Accounting policies (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

The judgement (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that has the most significant effect on the amounts recognised in the financial statements is as follows:

A bad debt provision is provided where the Directors believe a debt to be irrecoverable.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Prepared Media Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)

2

Accounting policies (continued)

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Leasehold Property

Over the term of the lease

Fixtures and Fittings

25% reducing balance

Equipment

25% reducing balance

Impairment

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.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

 

Prepared Media Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)

2

Accounting policies (continued)

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the statement of comprehensive income over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

 

Prepared Media Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 16 (2023 - 17).

 

Prepared Media Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)

4

Tangible assets

Long leasehold land and buildings
£

Fixtures and fittings
£

Office equipment
£

Total
£

Cost or valuation

At 1 December 2023

773

548

6,636

7,957

Additions

-

-

307

307

Disposals

-

(224)

(1,977)

(2,201)

At 30 November 2024

773

324

4,966

6,063

Depreciation

At 1 December 2023

773

517

4,448

5,738

Charge for the year

-

5

495

500

Eliminated on disposal

-

(212)

(1,462)

(1,674)

At 30 November 2024

773

310

3,481

4,564

Carrying amount

At 30 November 2024

-

14

1,485

1,499

At 30 November 2023

-

31

2,188

2,219

5

Debtors

2024
£

2023
£

Trade debtors

99,902

75,201

Other debtors

156,780

153,166

Prepayments

3,696

3,296

260,378

231,663

 

Prepared Media Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

33,370

22,660

Trade creditors

 

9,645

4,883

Taxation and social security

 

124,328

118,531

Accruals and deferred income

 

5,242

5,382

Other creditors

 

19,821

17,290

 

192,406

168,746

Creditors: amounts falling due after more than one year

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

12,947

22,910

7

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

8

Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

2024
£

2023
£

Not later than one year

-

12,675

The amount of non-cancellable operating lease payments recognised as an expense during the year was £Nil (2023 - £12,250).

 

Prepared Media Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)

9

Related party transactions

2024

At 1 December 2023
£

Advances to directors
£

Repayments by directors
£

At 30 November 2024
£

Directors loan accounts

148,167

177,537

(173,922)

151,781

         
       

 

2023

At 1 December 2022
£

Advances to directors
£
 

Repayments by directors
£

At 30 November 2023
£

Directors loan accounts

110,708

182,182

(144,724)

148,167