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Registration number: 13338394

TANCREDI MEDIA LTD

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

TANCREDI MEDIA LTD

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

TANCREDI MEDIA LTD

Company Information

Director

Mr Giovanni Natalino

Registered office

65 London Wall
London
EC2M 5TU

Accountants

1Office Group Ltd

 

TANCREDI MEDIA LTD

(Registration number: 13338394)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

224

307

Current assets

 

Stocks

5

1,061

1,061

Debtors

6

3,751

1,154

Cash at bank and in hand

 

1,310

227

 

6,122

2,442

Creditors: Amounts falling due within one year

7

(6,660)

(8,337)

Net current liabilities

 

(538)

(5,895)

Total assets less current liabilities

 

(314)

(5,588)

Creditors: Amounts falling due after more than one year

7

803

-

Net assets/(liabilities)

 

489

(5,588)

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

389

(5,688)

Shareholders' funds/(deficit)

 

489

(5,588)

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 2 May 2025
 

 

TANCREDI MEDIA LTD

(Registration number: 13338394)
Balance Sheet as at 30 April 2024

.........................................
Mr Giovanni Natalino
Director

 

TANCREDI MEDIA LTD

Notes to the Unaudited Financial Statements for the Year Ended 30 April 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:
65 London Wall
London
EC2M 5TU

These financial statements were authorised for issue by the director on 2 May 2025.

2

Accounting policies

Basis of preparation

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 Section 1A - ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ and the Companies Act 2006.

The presentational currency of the financial statements is pound sterling (£).

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.
 

Going concern assumption
The accounts have been prepared on a going concern basis on the assumption that adequate financial resources will continue to be made available from the parent company for at least twelve months from approval of the financial statements. The parent company has provided an undertaking of its continued support for the foreseeable future, being at least twelve months from the date of these financial statements, and the directors have considered the ability of the parent company to provide support and are comfortable that it is in a position to do so, having assessed its financial position and forecasts, including the impact of COVID-19, its capital position and future liquidity.
 

Covid-19 risk
The Covid-19 pandemic continued to cause disruption around the globe during the financial year. The company has not seen any significant adverse impact on its financial position, performance, and cash flows to date. The directors will continue to monitor the situation as it develops and the entity’s ability to continue as a going concern.
 

Going concern

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

 

TANCREDI MEDIA LTD

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

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current 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.

Tangible assets

Tangible assets are stated in the balance sheet 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.

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

Office equipment

Straight line over 5 years

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

TANCREDI MEDIA LTD

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

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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 profit and loss account 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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

TANCREDI MEDIA LTD

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

4

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 May 2023

419

419

At 30 April 2024

419

419

Depreciation

At 1 May 2023

111

111

Charge for the year

84

84

At 30 April 2024

195

195

Carrying amount

At 30 April 2024

224

224

At 30 April 2023

307

307

5

Stocks

2024
£

2023
£

Merchandise

1,061

1,061

6

Debtors

Current

2024
£

2023
£

Prepayments

180

180

Other debtors

3,571

974

 

3,751

1,154

7

Creditors

Creditors: amounts falling due within one year

 

TANCREDI MEDIA LTD

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

2024
£

2023
£

Due within one year

Taxation and social security

5,520

-

Accruals and deferred income

1,140

540

Other creditors

-

7,797

6,660

8,337

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

(803)

-

 

TANCREDI MEDIA LTD

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

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Other borrowings

(803)

-

10

Dividends

2024

2023

£

£