Silverfin false false 31/07/2024 01/08/2023 31/07/2024 Robert Lawrence 09/07/2020 Sandra Lawrence 09/07/2020 28 April 2025 no description of principal activity 12732633 2024-07-31 12732633 bus:Director1 2024-07-31 12732633 bus:Director2 2024-07-31 12732633 2023-07-31 12732633 core:CurrentFinancialInstruments 2024-07-31 12732633 core:CurrentFinancialInstruments 2023-07-31 12732633 core:ShareCapital 2024-07-31 12732633 core:ShareCapital 2023-07-31 12732633 core:RetainedEarningsAccumulatedLosses 2024-07-31 12732633 core:RetainedEarningsAccumulatedLosses 2023-07-31 12732633 core:OfficeEquipment 2023-07-31 12732633 core:OfficeEquipment 2024-07-31 12732633 2023-08-01 2024-07-31 12732633 bus:FilletedAccounts 2023-08-01 2024-07-31 12732633 bus:SmallEntities 2023-08-01 2024-07-31 12732633 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 12732633 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 12732633 bus:Director1 2023-08-01 2024-07-31 12732633 bus:Director2 2023-08-01 2024-07-31 12732633 core:OfficeEquipment core:TopRangeValue 2023-08-01 2024-07-31 12732633 2022-08-01 2023-07-31 12732633 core:OfficeEquipment 2023-08-01 2024-07-31 iso4217:GBP xbrli:pure

Company No: 12732633 (England and Wales)

PODCAST PLUS LTD

Unaudited Financial Statements
For the financial year ended 31 July 2024
Pages for filing with the registrar

PODCAST PLUS LTD

Unaudited Financial Statements

For the financial year ended 31 July 2024

Contents

PODCAST PLUS LTD

STATEMENT OF FINANCIAL POSITION

As at 31 July 2024
PODCAST PLUS LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 July 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 93 282
93 282
Current assets
Debtors 4 2,952 2,596
Cash at bank and in hand 5 648 2,629
3,600 5,225
Creditors: amounts falling due within one year 6 ( 3,476) ( 4,931)
Net current assets 124 294
Total assets less current liabilities 217 576
Provision for liabilities 7 ( 18) ( 54)
Net assets 199 522
Capital and reserves
Called-up share capital 100 100
Profit and loss account 99 422
Total shareholders' funds 199 522

For the financial year ending 31 July 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Podcast Plus Ltd (registered number: 12732633) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

Robert Lawrence
Director

28 April 2025

PODCAST PLUS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2024
PODCAST PLUS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Podcast Plus Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Suite 7, First Floor The Hub, St Mary's House, Duke Street, Norwich, NR3 1QA, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Income Statement in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Office equipment 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset

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, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Office equipment Total
£ £
Cost
At 01 August 2023 728 728
At 31 July 2024 728 728
Accumulated depreciation
At 01 August 2023 446 446
Charge for the financial year 189 189
At 31 July 2024 635 635
Net book value
At 31 July 2024 93 93
At 31 July 2023 282 282

4. Debtors

2024 2023
£ £
Trade debtors 2,816 1,908
Amounts owed by directors 0 533
Prepayments 136 155
2,952 2,596

5. Cash and cash equivalents

2024 2023
£ £
Cash at bank and in hand 648 2,629

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 347 428
Amounts owed to directors 291 0
Accruals 144 137
Taxation and social security 1,907 3,925
Other creditors 787 441
3,476 4,931

7. Provision for liabilities

2024 2023
£ £
Deferred tax 18 54

8. Financial commitments

Pensions

The Company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £3,000 (2023 - £3,000). The amounts payable to the fund at the year end amounted to Nil.

9. Related party transactions

The directors have loan accoutns with the company. Interest is chargeable on these loans at the discretion of the directors. The directors have agreed that there will be no interest charged on the loans during the year.

At the year end the company owed the directors £291 (2023: £533 overdrawn).