Registered number
12472997
Spirit Media Studios Limited
Filleted Accounts
31 December 2024
Spirit Media Studios Limited
Registered number: 12472997
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 30,285 16,688
Current assets
Debtors 5 162,920 340,395
Cash at bank and in hand 414,551 198,314
577,471 538,709
Creditors: amounts falling due within one year 6 (205,968) (241,643)
Net current assets 371,503 297,066
Total assets less current liabilities 401,788 313,754
Creditors: amounts falling due after more than one year 7 (4,167) (14,167)
Net assets 397,621 299,587
Capital and reserves
Called up share capital 222 222
Share premium 799,976 799,976
Profit and loss account (402,577) (500,611)
Shareholders' funds 397,621 299,587
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Peter Cowley
Director
Approved by the board on 29 April 2025
Spirit Media Studios Limited
Notes to the Accounts
for the year ended 31 December 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance basis
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 13 23
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2024 33,729
Additions 19,600
Disposals (1,665)
At 31 December 2024 51,664
Depreciation
At 1 January 2024 17,041
Charge for the year 5,373
On disposals (1,035)
At 31 December 2024 21,379
Net book value
At 31 December 2024 30,285
At 31 December 2023 16,688
4 Investments
Investments in
subsidiary
undertakings
£
Cost
At 31 December 2024 -
Historical cost
At 1 January 2024 72,000
At 31 December 2024 72,000
5 Debtors 2024 2023
£ £
Trade debtors 124,742 311,536
Amounts owed by group undertakings and undertakings in which the company has a participating interest - 10,999
Director's loan 164 164
Prepayments 25,573 -
Other debtors 12,441 17,696
162,920 340,395
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 10,000 10,000
Trade creditors 71,156 69,855
Taxation and social security costs 57,191 65,240
Accruals 15,152 77,518
Deferred income - 13,930
Other creditors 52,469 5,100
205,968 241,643
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 4,167 14,167
8 Other financial commitments 2024 2023
£ £
Total future minimum payments under non-cancellable operating leases 53,944 3,602
9 Other information
Spirit Media Studios Limited is a private company limited by shares and incorporated in England. Its registered office is:
12 Gloucester Road
Teddington
TW11 0NU
Spirit Media Studios Limited 12472997 false 2024-01-01 2024-12-31 2024-12-31 VT Final Accounts April 2025 Peter Cowley No description of principal activity 12472997 2023-01-01 2023-12-31 12472997 core:WithinOneYear 2023-12-31 12472997 core:AfterOneYear 2023-12-31 12472997 core:ShareCapital 2023-12-31 12472997 core:SharePremium 2023-12-31 12472997 core:RetainedEarningsAccumulatedLosses 2023-12-31 12472997 core:AllPeriods 2023-12-31 12472997 2024-01-01 2024-12-31 12472997 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 12472997 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 12472997 bus:Director40 2024-01-01 2024-12-31 12472997 1 2024-01-01 2024-12-31 12472997 2 2024-01-01 2024-12-31 12472997 core:PlantMachinery 2024-01-01 2024-12-31 12472997 countries:England 2024-01-01 2024-12-31 12472997 bus:FRS102 2024-01-01 2024-12-31 12472997 bus:FilletedAccounts 2024-01-01 2024-12-31 12472997 2024-12-31 12472997 core:WithinOneYear 2024-12-31 12472997 core:AfterOneYear 2024-12-31 12472997 core:ShareCapital 2024-12-31 12472997 core:SharePremium 2024-12-31 12472997 core:RetainedEarningsAccumulatedLosses 2024-12-31 12472997 core:PlantMachinery 2024-12-31 12472997 core:AllPeriods 2024-12-31 12472997 2023-12-31 12472997 core:PlantMachinery 2023-12-31 iso4217:GBP xbrli:pure