| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31st May 2024 |
| for |
| Handi Media Ltd |
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31st May 2024 |
| for |
| Handi Media Ltd |
| Handi Media Ltd (Registered number: 06597219) |
| Contents of the Financial Statements |
| for the Year Ended 31st May 2024 |
| Page |
| Balance Sheet | 1 |
| Notes to the Financial Statements | 2 |
| Handi Media Ltd (Registered number: 06597219) |
| Balance Sheet |
| 31st May 2024 |
| 31.5.24 | 31.5.23 |
| Notes | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
| CREDITORS |
| Amounts falling due after more than one year | 7 |
| NET LIABILITIES | ( |
) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital | 8 |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| The director acknowledges his responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| The financial statements were approved by the director and authorised for issue on |
| Handi Media Ltd (Registered number: 06597219) |
| Notes to the Financial Statements |
| for the Year Ended 31st May 2024 |
| 1. | COMPANY INFORMATION |
| Handi Media Ltd is a |
| Registered number: |
| Registered office: |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Critical accounting judgements and key sources of estimation uncertainty |
| In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. |
| The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. |
| There have been no significant judgements, estimates and assumptions included in the year end accounts. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Revenue from the provision of professional services is recognised on delivery of the service. |
| Tangible fixed assets |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Computer equipment | - |
| Tangible fixed assets are included at cost less depreciation and impairment. Depreciation has been computed to write off the cost of tangible fixed assets over their expected useful life. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| Handi Media Ltd (Registered number: 06597219) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31st May 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
| 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. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Plant and | and | Computer |
| machinery | fittings | equipment | Totals |
| £ | £ | £ | £ |
| COST |
| At 1st June 2023 |
| and 31st May 2024 |
| DEPRECIATION |
| At 1st June 2023 |
| Charge for year |
| At 31st May 2024 |
| NET BOOK VALUE |
| At 31st May 2024 |
| At 31st May 2023 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.5.24 | 31.5.23 |
| £ | £ |
| Trade debtors |
| Other debtors |
| VAT |
| Handi Media Ltd (Registered number: 06597219) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31st May 2024 |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.5.24 | 31.5.23 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Tax |
| Social security and other taxes |
| Other creditors |
| Pension creditor | 1,532 | 1,478 |
| Directors' current accounts | 15,815 | 5,912 |
| Accrued expenses |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.5.24 | 31.5.23 |
| £ | £ |
| Bank loans - 2-5 years |
| 8. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31.5.24 | 31.5.23 |
| value: | £ | £ |
| Ordinary | £1 | 1 | 1 |
| 9. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the years ended 31st May 2024 and 31st May 2023: |
| 31.5.24 | 31.5.23 |
| £ | £ |
| Balance outstanding at start of year | ( |
) | ( |
) |
| Amounts advanced |
| Amounts repaid | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year | ( |
) | ( |
) |
| The outstanding amount is included within other creditors and the loan is repayable on demand with no interest being charged during the period. |
| 10. | RELATED PARTY DISCLOSURES |
| At the reporting date, Handi Media Ltd was owed £138,864 (2023: £139,080) by Handi Media Pty Ltd a related company based in Australia. |
| The outstanding amount is included within other debtors, and the loan is repayable on demand with no interest being charged during the period. |
| At the reporting date, Handi Media Ltd owed £214,888 (2023: £203,375) to Handi Media USA LLC a related company based in the United States of America. |
| The outstanding amount is included within other creditors, and the loan is repayable on demand with no interest being charged during the period. |
| Handi Media Ltd (Registered number: 06597219) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31st May 2024 |
| 11. | ULTIMATE CONTROLLING PARTY |
| The ultimate controlling party is Mr S Handisides by virtue of his 100% shareholding in the company. |