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REGISTERED NUMBER: 06597219 (England and Wales)















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 4 183 243

CURRENT ASSETS
Debtors 5 139,789 140,522
Cash at bank 347 1,682
140,136 142,204
CREDITORS
Amounts falling due within one year 6 239,647 222,862
NET CURRENT LIABILITIES (99,511 ) (80,658 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(99,328

)

(80,415

)

CREDITORS
Amounts falling due after more than one year 7 5,607 10,538
NET LIABILITIES (104,935 ) (90,953 )

CAPITAL AND RESERVES
Called up share capital 8 1 1
Retained earnings (104,936 ) (90,954 )
SHAREHOLDERS' FUNDS (104,935 ) (90,953 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 2024 in accordance with Section 476 of the Companies Act 2006.

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 have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 21st May 2025 and were signed by:





S D Handisides - Director


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 private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 06597219

Registered office: 2nd Floor
The Lexicon
10-12 Mount Street
Manchester
M2 5NT

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 33% on cost

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 3 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1st June 2023
and 31st May 2024 6,160 127 3,257 9,544
DEPRECIATION
At 1st June 2023 5,939 105 3,257 9,301
Charge for year 55 5 - 60
At 31st May 2024 5,994 110 3,257 9,361
NET BOOK VALUE
At 31st May 2024 166 17 - 183
At 31st May 2023 221 22 - 243

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors - 385
Other debtors 139,314 139,145
VAT 475 992
139,789 140,522

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 4,812 4,692
Trade creditors - 1,800
Tax - 1,525
Social security and other taxes - 1,601
Other creditors 215,988 204,354
Pension creditor 1,532 1,478
Directors' current accounts 15,815 5,912
Accrued expenses 1,500 1,500
239,647 222,862

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans - 2-5 years 5,607 10,538

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.24 31.5.23
value: £    £   
1 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
£    £   
S D Handisides
Balance outstanding at start of year (5,912 ) (5,912 )
Amounts advanced 1,000 -
Amounts repaid (10,903 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (15,815 ) (5,912 )

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.