1 1 Mead 7 Limited 14283105 false 2023-09-01 2024-08-31 2024-08-31 The principal activity of the company is Exploitation of Beth Mead image rights Digita Accounts Production Advanced 6.30.9574.0 true 14283105 2023-09-01 2024-08-31 14283105 2024-08-31 14283105 core:CurrentFinancialInstruments 2024-08-31 14283105 core:CurrentFinancialInstruments core:WithinOneYear 2024-08-31 14283105 core:OtherResidualIntangibleAssets 2024-08-31 14283105 bus:SmallEntities 2023-09-01 2024-08-31 14283105 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 14283105 bus:FilletedAccounts 2023-09-01 2024-08-31 14283105 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 14283105 bus:RegisteredOffice 2023-09-01 2024-08-31 14283105 bus:Director1 2023-09-01 2024-08-31 14283105 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 14283105 core:IntangibleAssetsOtherThanGoodwill 2023-09-01 2024-08-31 14283105 core:OtherResidualIntangibleAssets 2023-09-01 2024-08-31 14283105 countries:AllCountries 2023-09-01 2024-08-31 14283105 2023-08-31 14283105 core:OtherResidualIntangibleAssets 2023-08-31 14283105 2022-09-01 2023-08-31 14283105 2023-08-31 14283105 core:CurrentFinancialInstruments 2023-08-31 14283105 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-31 14283105 core:OtherResidualIntangibleAssets 2023-08-31 xbrli:pure iso4217:GBP

Registration number: 14283105

Mead 7 Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2024

 

Mead 7 Limited

(Registration number: 14283105)
Statement of Financial Position as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

563,520

751,360

Current assets

 

Debtors

5

32,355

123,188

Cash at bank and in hand

 

485,511

623,165

 

517,866

746,353

Creditors: Amounts falling due within one year

6

(632,072)

(1,117,051)

Net current liabilities

 

(114,206)

(370,698)

Net assets

 

449,314

380,662

Capital and reserves

 

Called up share capital

100

100

Retained earnings

449,214

380,562

Shareholders' funds

 

449,314

380,662

 

Mead 7 Limited

(Registration number: 14283105)
Statement of Financial Position as at 31 August 2024

For the financial year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Statement of Comprehensive Income .

Approved and authorised by the director on 20 August 2025
 

.........................................
Miss B J Mead
Director

 

Mead 7 Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom .

The address of its registered office is:
C/o Torgersens
East Suite, Ground Floor,
Avalon House, St. Catherines Court
Sunderland
Tyne and Wear
SR5 3XJ

These financial statements were authorised for issue by the director on 20 August 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The accounts are presented in £ sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for goods supplied and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Mead 7 Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Image Rights

20% straight line

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

Mead 7 Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

4

Intangible assets

Image rights
 £

Total
£

Cost or valuation

At 1 September 2023

939,200

939,200

At 31 August 2024

939,200

939,200

Amortisation

At 1 September 2023

187,840

187,840

Amortisation charge

187,840

187,840

At 31 August 2024

375,680

375,680

Carrying amount

At 31 August 2024

563,520

563,520

At 31 August 2023

751,360

751,360

5

Debtors

Current

2024
£

2023
£

Trade debtors

19,022

95,980

Other debtors

13,333

27,208

 

32,355

123,188

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

89,305

193,151

Accruals and deferred income

2,353

2,800

Other creditors

540,414

921,100

632,072

1,117,051