REGISTERED NUMBER: SC513689 (Scotland)

Unaudited Financial Statements for the Year Ended 31 August 2024

for

Leven Media Ltd

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

Report of the Accountants

7

DIRECTOR:

J P Lusk

REGISTERED OFFICE:

14 Glentanar Crecent

Dumbarton

Dunbartonshire

G82 2NS

REGISTERED NUMBER:

SC513689 (Scotland)

ACCOUNTANTS:

William Watson & Company Accountants Ltd

51 Lynnhurst

Uddingston

G71 6SA

FIXED ASSETS

Intangible assets

4

10,000

20,000

Tangible assets

5

5,004

5,887

15,004

25,887

CURRENT ASSETS

Debtors

6

-

11,169

Cash at bank

3,203

9,174

3,203

20,343

CREDITORS

Amounts falling due within one year

7

33,829

39,428

NET CURRENT LIABILITIES

(30,626

)

(19,085

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(15,622

)

6,802

CREDITORS

Amounts falling due after more than one year

8

12,000

16,594

NET LIABILITIES

(27,622

)

(9,792

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

9

(27,722

)

(9,892

)

SHAREHOLDERS' FUNDS

(27,622

)

(9,792

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 May 2025 and were signed by:

J P Lusk - Director

1.	STATUTORY INFORMATION

Leven Media Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 September 2023

and 31 August 2024

100,000

AMORTISATION

At 1 September 2023

80,000

Amortisation for year

10,000

At 31 August 2024

90,000

NET BOOK VALUE

At 31 August 2024

10,000

At 31 August 2023

20,000

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 September 2023

and 31 August 2024

14,416

DEPRECIATION

At 1 September 2023

8,529

Charge for year

883

At 31 August 2024

9,412

NET BOOK VALUE

At 31 August 2024

5,004

At 31 August 2023

5,887

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.24

31.8.23

£

£

Other debtors

-

11,169

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.24

31.8.23

£

£

Payments on account

23,802

26,802

Trade creditors

2

-

Tax

1,424

5,817

Social security and other taxes

6,890

5,149

Directors' current accounts

51

-

Accrued expenses

1,660

1,660

33,829

39,428

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.8.24

31.8.23

£

£

Bank loans - 1-2 years

12,000

16,594

9.

RESERVES

Retained

earnings

£

At 1 September 2023

(9,892

)

Deficit for the year

(4,630

)

Dividends

(13,200

)

At 31 August 2024

(27,722

)

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

As described on the Statement of Financial Position you are responsible for the preparation of the financial statements for the year ended 31 August 2024 set out on pages three to eight and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

William Watson & Company Accountants Ltd

51 Lynnhurst

Uddingston

G71 6SA

23 May 2025