Company registration number SC515149 (Scotland)
THE PODCAST HOST LTD.
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
PAGES FOR FILING WITH REGISTRAR
THE PODCAST HOST LTD.
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
THE PODCAST HOST LTD.
BALANCE SHEET
AS AT
30 SEPTEMBER 2024
30 September 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
12,971
25,060
Investments
4
58,335
51,711
71,306
76,771
Current assets
Debtors
5
15,330
4,379
Cash at bank and in hand
193,318
235,068
208,648
239,447
Creditors: amounts falling due within one year
6
(18,464)
(30,680)
Net current assets
190,184
208,767
Total assets less current liabilities
261,490
285,538
Creditors: amounts falling due after more than one year
7
(7,456)
(13,048)
Provisions for liabilities
(4,953)
(5,881)
Net assets
249,081
266,609
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
248,981
266,509
Total equity
249,081
266,609
THE PODCAST HOST LTD.
BALANCE SHEET (CONTINUED)
AS AT
30 SEPTEMBER 2024
30 September 2024
- 2 -
For the financial year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved and signed by the director and authorised for issue on 26 June 2025
Mr C Gray
Director
Company registration number SC515149 (Scotland)
THE PODCAST HOST LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 3 -
1
Accounting policies
Company information
The Podcast Host Ltd. is a private company limited by shares incorporated in Scotland. The registered office is Office 102, Building A, Inverness Creative Academy, StephenÆs Street, Inverness, IV2 3JP.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2
Turnover
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
25% Straight Line
Computers
25% Straight Line
Motor vehicles
25% Straight Line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
THE PODCAST HOST LTD.
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 4 -
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.5
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
2
2
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 October 2023
62,875
Additions
1,186
At 30 September 2024
64,061
Depreciation and impairment
At 1 October 2023
37,815
Depreciation charged in the year
13,275
At 30 September 2024
51,090
Carrying amount
At 30 September 2024
12,971
At 30 September 2023
25,060
THE PODCAST HOST LTD.
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 5 -
4
Fixed asset investments
2024
2023
£
£
Other investments other than loans
58,335
51,711
Movements in fixed asset investments
Investments
£
Cost or valuation
At 1 October 2023 & 30 September 2024
51,711
Carrying amount
At 30 September 2024
51,711
At 30 September 2023
51,711
Error! Does not agree to TB:
58,335
Difference
(6,624)
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
15,330
4,379
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
841
678
Corporation tax
544
9,859
Other taxation and social security
1,310
643
Other creditors
15,769
19,500
18,464
30,680
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
7,456
13,048