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REGISTERED NUMBER: 11584472 (England and Wales)












Unaudited Financial Statements

for the Year Ended 30 September 2024

for

Skylapse Media Ltd

Skylapse Media Ltd (Registered number: 11584472)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Skylapse Media Ltd

Company Information
for the Year Ended 30 September 2024







DIRECTORS: Mr C Gillespie
Mr M Brown
Mr C E Read





REGISTERED OFFICE: Myrtle Villa
Bradbury
Stockon-on-Tees
TS21 2ET





REGISTERED NUMBER: 11584472 (England and Wales)





ACCOUNTANTS: S&W Partners (Newcastle) Limited
17 Queens Lane
Newcastle upon Tyne
Tyne and Wear
NE1 1RN

Skylapse Media Ltd (Registered number: 11584472)

Balance Sheet
30 September 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 5 19,862 27,132

CURRENT ASSETS
Debtors 6 7,250 5,700
Cash at bank 3,381 4,426
10,631 10,126
CREDITORS
Amounts falling due within one year 7 (15,807 ) (18,881 )
NET CURRENT LIABILITIES (5,176 ) (8,755 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

14,686

18,377

CREDITORS
Amounts falling due after more than one
year

8

(5,943

)

(9,865

)

PROVISIONS FOR LIABILITIES (3,189 ) (3,189 )
NET ASSETS 5,554 5,323

CAPITAL AND RESERVES
Called up share capital 102 102
Profit and loss account 5,452 5,221
5,554 5,323

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 July 2025 and were signed on its behalf by:





Mr C Gillespie - Director


Skylapse Media Ltd (Registered number: 11584472)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

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

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


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
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.

Revenue from contracts for the provision of professional services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract.
Revenue for the sale of goods is recognised upon delivery.

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 etc - 25% on reducing balance and 20% on reducing balance

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses.

Impairment of assets
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

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.

Skylapse Media Ltd (Registered number: 11584472)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

3. ACCOUNTING POLICIES - continued

Leases
Assets acquired under finance leases are capitalised and depreciated in the same manner as tangible fixed assets. The related obligations, net of future finance charges are included in creditors.

Rentals payable under operating leases are charged to the profit and loss account on a straight line basis over the term of the lease.

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments on non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 October 2023 43,764
Additions 5,251
At 30 September 2024 49,015
DEPRECIATION
At 1 October 2023 16,632
Charge for year 12,521
At 30 September 2024 29,153
NET BOOK VALUE
At 30 September 2024 19,862
At 30 September 2023 27,132

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 7,250 5,700

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Finance leases (see note 9) 6,964 6,964
Trade creditors 3,701 2,353
Taxation and social security 1,265 2,087
Other creditors 3,877 7,477
15,807 18,881

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Finance leases (see note 9) 5,943 9,865

Skylapse Media Ltd (Registered number: 11584472)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

9. LEASING AGREEMENTS

Minimum lease payments under finance leases fall due as follows:

Finance leases
2024 2023
£    £   
Net obligations repayable:
Within one year 6,964 6,964
Between one and five years 5,943 9,865
12,907 16,829

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Finance leases 12,907 16,829

The finance lease liability is secured against the assets to which it relates. The net book value of fixed assets held under finance lease at 30 September 2024 was £15,303 (2023 £19,130).