Above the Action Ltd 10678830 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is that of Video Production Activiites Digita Accounts Production Advanced 6.30.9574.0 true true 10678830 2023-04-01 2024-03-31 10678830 2024-03-31 10678830 core:CurrentFinancialInstruments 2024-03-31 10678830 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 10678830 core:Non-currentFinancialInstruments 2024-03-31 10678830 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 10678830 core:OtherPropertyPlantEquipment 2024-03-31 10678830 bus:SmallEntities 2023-04-01 2024-03-31 10678830 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 10678830 bus:FilletedAccounts 2023-04-01 2024-03-31 10678830 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 10678830 bus:RegisteredOffice 2023-04-01 2024-03-31 10678830 bus:Director1 2023-04-01 2024-03-31 10678830 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 10678830 core:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 10678830 countries:EnglandWales 2023-04-01 2024-03-31 10678830 2023-03-31 10678830 core:OtherPropertyPlantEquipment 2023-03-31 10678830 2022-04-01 2023-03-31 10678830 2023-03-31 10678830 core:CurrentFinancialInstruments 2023-03-31 10678830 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 10678830 core:Non-currentFinancialInstruments 2023-03-31 10678830 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 10678830 core:OtherPropertyPlantEquipment 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 10678830

Above the Action Ltd

Annual Report and Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Above the Action Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Above the Action Ltd

Company Information

Director

Mr Billy Andrew Bone

Registered office

31 Long Row
South Shields
Tyne & Wear
NE33 1JA

Accountants

GMR Accountants Ltd
1st Floor
8/12 London Street
Southport
Merseyside
PR9 0UE

 

Above the Action Ltd

(Registration number: 10678830)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

8,645

2,872

Current assets

 

Cash at bank and in hand

 

159

1,377

Creditors: Amounts falling due within one year

5

(21,568)

(11,153)

Net current liabilities

 

(21,409)

(9,776)

Total assets less current liabilities

 

(12,764)

(6,904)

Creditors: Amounts falling due after more than one year

5

(14,095)

(13,872)

Provisions for liabilities

(546)

(546)

Net liabilities

 

(27,405)

(21,322)

Capital and reserves

 

Called up share capital

1

1

Retained earnings

(27,406)

(21,323)

Shareholders' deficit

 

(27,405)

(21,322)

For the financial year ending 31 March 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 30 April 2025
 

.........................................
Mr Billy Andrew Bone
Director

 

Above the Action Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 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:
31 Long Row
South Shields
Tyne & Wear
NE33 1JA

These financial statements were authorised for issue by the director on 30 April 2025.

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.

Going concern

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

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.

Tax

The tax expense for the period comprises 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.

 

Above the Action Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

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 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:

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, 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.

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.

 

Above the Action Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

3

Staff numbers

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

 

Above the Action Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Other tangible assets
 £

Total
£

Cost or valuation

At 1 April 2023

28,256

28,256

Additions

8,639

8,639

At 31 March 2024

36,895

36,895

Depreciation

At 1 April 2023

25,384

25,384

Charge for the year

2,866

2,866

At 31 March 2024

28,250

28,250

Carrying amount

At 31 March 2024

8,645

8,645

At 31 March 2023

2,872

2,872

5

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

6

19,350

9,954

Accruals and deferred income

 

2,112

1,200

Other creditors

 

106

(1)

 

21,568

11,153

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

6

14,095

13,872

 

Above the Action Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

6

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

14,095

13,872

Current loans and borrowings

2024
£

2023
£

Bank borrowings

5,424

5,963

Other borrowings

13,926

3,991

19,350

9,954