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COMPANY REGISTRATION NUMBER: 8654022
Worsfold Media Services Limited
Filleted Unaudited Financial Statements
31 August 2024
Worsfold Media Services Limited
Statement of Financial Position
31 August 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
1,645
2,056
Current assets
Debtors
6
12,842
19,653
Cash at bank and in hand
15,271
5,098
--------
--------
28,113
24,751
Creditors: amounts falling due within one year
7
11,859
11,414
--------
--------
Net current assets
16,254
13,337
--------
--------
Total assets less current liabilities
17,899
15,393
--------
--------
Net assets
17,899
15,393
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
17,799
15,293
--------
--------
Shareholder funds
17,899
15,393
--------
--------
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 year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year 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 .
Worsfold Media Services Limited
Statement of Financial Position (continued)
31 August 2024
These financial statements were approved by the board of directors and authorised for issue on 23 April 2025 , and are signed on behalf of the board by:
Mr D H Worsfold
Director
Company registration number: 8654022
Worsfold Media Services Limited
Notes to the Financial Statements
Year ended 31 August 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 c/o Ridgewell and Boreham, 24a Crown Street, Brentwood, Essex, CM14 4BA.
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.
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:
Equipment
-
20% reducing balance
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Tangible assets
Equipment
Total
£
£
Cost
At 1 September 2023 and 31 August 2024
8,243
8,243
-------
-------
Depreciation
At 1 September 2023
6,187
6,187
Charge for the year
411
411
-------
-------
At 31 August 2024
6,598
6,598
-------
-------
Carrying amount
At 31 August 2024
1,645
1,645
-------
-------
At 31 August 2023
2,056
2,056
-------
-------
6. Debtors
2024
2023
£
£
Trade debtors
12,183
19,653
Other debtors
659
--------
--------
12,842
19,653
--------
--------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
115
115
Trade creditors
1,982
843
Corporation tax
5,375
5,561
Social security and other taxes
3,191
3,421
Other creditors
1,196
1,474
--------
--------
11,859
11,414
--------
--------
8. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward
Amounts repaid
Balance outstanding
£
£
£
Mr D H Worsfold
( 670)
278
( 392)
----
----
----
2023
Balance brought forward
Amounts repaid
Balance outstanding
£
£
£
Mr D H Worsfold
( 984)
314
( 670)
----
----
----
9. Related party transactions
The company was under the control of Mr Worsfold throughout the current and previous year. Mr Worsfold is the managing director and majority shareholder. No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard for Small Entities.