WL MEDIA LTD

Company Registration Number:
SC574922 (Scotland)

Unaudited abridged accounts for the year ended 31 August 2024

Period of accounts

Start date: 01 September 2023

End date: 31 August 2024

WL MEDIA LTD

Contents of the Financial Statements

for the Period Ended 31 August 2024

Company Information - 3
Balance sheet - 4
Additional notes - 6
Balance sheet notes - 9

WL MEDIA LTD

Company Information

for the Period Ended 31 August 2024




Director: Gordon Smith
Registered office: West Lodge, Colgrain
Helensburgh
G84 7JX
Company Registration Number: SC574922 (Scotland)

WL MEDIA LTD

Balance sheet

As at 31 August 2024


Notes

2024
£

2023
£
Fixed assets
Intangible assets: 0
Tangible assets: 4 6,538 583
Total fixed assets: 6,538 583
Current assets
Stocks: 0 0
Debtors: 5 66,715 1,292
Cash at bank and in hand: 310,259 314,461
Total current assets: 376,974 315,753
Prepayments and accrued income: 0 0
Creditors: amounts falling due within one year: ( 78,475 ) ( 78,404 )
Net current assets (liabilities): 298,499 237,349
Total assets less current liabilities: 305,037 237,932
Creditors: amounts falling due after more than one year: 6 ( 2,055 ) ( 5,250 )
Total net assets (liabilities): 302,982 232,682

The notes form part of these financial statements

WL MEDIA LTD

Balance sheet continued

As at 31 August 2024


Notes

2024
£

2023
£
Capital and reserves
Called up share capital: 10 10
Profit and loss account: 302,972 232,672
Shareholders funds: 302,982 232,682

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

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

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

This report was approved by the board of directors on 29 August 2025
And Signed On Behalf Of The Board By:

Name: Gordon Smith
Status: Director

The notes form part of these financial statements

WL MEDIA LTD

Notes to the Financial Statements

for the Period Ended 31 August 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

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

    Tangible fixed assets depreciation policy

    Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:
    Plant & machinery etc - 10%, 20% & 25% on cost

    Other accounting policies

    Financial Instruments: A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instruments. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes, in effect, a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Other financial instruments are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. Taxation: Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account 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. Deferred Taxation: 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.

WL MEDIA LTD

Notes to the Financial Statements

for the Period Ended 31 August 2024

  • 2. Employees


    2024

    2023
    Average number of employees during the period 0 0

WL MEDIA LTD

Notes to the Financial Statements

for the Period Ended 31 August 2024

  • 3. Off balance sheet disclosure

    No

WL MEDIA LTD

Notes to the Financial Statements

for the Period Ended 31 August 2024

4. Tangible Assets

Total
Cost £
At 01 September 2023 972
Additions 7,286
Disposals -
Revaluations -
Transfers -
At 31 August 2024 8,258
Depreciation
At 01 September 2023 389
Charge for year 1,331
On disposals -
Other adjustments -
At 31 August 2024 1,720
Net book value
At 31 August 2024 6,538
At 31 August 2023 583

WL MEDIA LTD

Notes to the Financial Statements

for the Period Ended 31 August 2024

  • 5. Debtors

    Amounts due from related companies £66,715 ( 2023 - £1,292).

WL MEDIA LTD

Notes to the Financial Statements

for the Period Ended 31 August 2024

6. Creditors: amounts falling due after more than one year note

Amounts due on bank loans due in 1-2 years £2,055 (2023 - £5,250).