Company registration number 07684958 (England and Wales)
GRAYSKULL MEDIA LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
PAGES FOR FILING WITH REGISTRAR
GRAYSKULL MEDIA LIMITED
BALANCE SHEET
AS AT 31 JULY 2024
31 July 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
190
1,126
Current assets
Debtors
5
11,669
12,049
Cash at bank and in hand
7
11,669
12,056
Creditors: amounts falling due within one year
6
(78,681)
(61,052)
Net current liabilities
(67,012)
(48,996)
Total assets less current liabilities
(66,822)
(47,870)
Creditors: amounts falling due after more than one year
7
(17,766)
(21,097)
Net liabilities
(84,588)
(68,967)
Capital and reserves
Called up share capital
8
2
2
Profit and loss reserves
(84,590)
(68,969)
Total equity
(84,588)
(68,967)
For the financial year ended 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved and signed by the director and authorised for issue on 28 April 2025
Mr T S Deol
Director
Company registration number 07684958 (England and Wales)
GRAYSKULL MEDIA LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
- 2 -
1
Accounting policies
Company information
Grayskull Media Limited is a private company limited by shares incorporated in England and Wales. The registered office is .
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover comprises revenue recognised by the company in respect of services supplied during the year, exclusive of Value Added Tax.
1.3
Tangible fixed assets
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost over its expected useful life, as follows:
Plant and machinery
25% of written down value
Computer equipment
One-third of cost per annum
1.4
Cash and cash equivalents
Cash and cash equivalents include deposits held at call with bank.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
2
2
GRAYSKULL MEDIA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 3 -
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 August 2023 and 31 July 2024
10,129
Depreciation and impairment
At 1 August 2023
9,003
Depreciation charged in the year
936
At 31 July 2024
9,939
Carrying amount
At 31 July 2024
190
At 31 July 2023
1,126
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
11,669
12,049
6
Creditors: amounts falling due within one year
2024
2023
Notes
£
£
Loans and overdrafts
23,383
18,098
Corporation tax
3,300
3,300
Other taxation and social security
41,274
30,439
Other creditors
4,964
2,955
Accruals
5,760
6,260
78,681
61,052
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
17,766
21,097
GRAYSKULL MEDIA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 4 -
8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
2
2
2
2
9
Related party transactions
Included within Debtors is the amount of £11,669 (2023 - £12,049) owed by the director .