REGISTERED NUMBER: 09490804 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

GROUND UP MEDIA LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

A E Murray

R J Bastable

REGISTERED OFFICE:

15 West Street

Brighton

East Sussex

BN1 2RL

REGISTERED NUMBER:

09490804 (England and Wales)

ACCOUNTANTS:

Galloways Accounting (Hove) Limited

15 West Street

Brighton

East Sussex

BN1 2RL

FIXED ASSETS

Intangible assets

3

5,160

5,805

Tangible assets

4

7,581

9,977

12,741

15,782

CURRENT ASSETS

Debtors

5

256,271

136,891

Cash at bank and in hand

446,233

282,800

702,504

419,691

CREDITORS

Amounts falling due within one year

6

(234,922

)

(144,243

)

NET CURRENT ASSETS

467,582

275,448

TOTAL ASSETS LESS CURRENT LIABILITIES

480,323

291,230

PROVISIONS FOR LIABILITIES

(1,895

)

-

NET ASSETS

478,428

291,230

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

478,427

291,229

SHAREHOLDERS' FUNDS

478,428

291,230

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

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

The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2025 and were signed on its behalf by:

A E Murray - Director

1.	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.

These financial statements have been prepared on the basis that the company will continue to be a going concern. If this assumption is not considered valid, then adjustments would need to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that might arise and to reclassify fixed assets and long term liabilities as current assets and liabilities.

Turnover

Turnover represents sales of services net of VAT. Turnover is recognised at the point the customer is entitled to consideration.

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.

Computer software is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

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

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on cost

Computer equipment

-

33% on cost

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 6 ) .

3.	INTANGIBLE FIXED ASSETS

Computer

software

£

COST

At 1 January 2024

and 31 December 2024

6,450

AMORTISATION

At 1 January 2024

645

Amortisation for year

645

At 31 December 2024

1,290

NET BOOK VALUE

At 31 December 2024

5,160

At 31 December 2023

5,805

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 January 2024

4,979

9,699

5,865

20,543

Additions

-

-

3,162

3,162

Disposals

-

-

(2,548

)

(2,548

)

At 31 December 2024

4,979

9,699

6,479

21,157

DEPRECIATION

At 1 January 2024

2,887

3,594

4,085

10,566

Charge for year

524

2,425

821

3,770

Eliminated on disposal

-

-

(760

)

(760

)

At 31 December 2024

3,411

6,019

4,146

13,576

NET BOOK VALUE

At 31 December 2024

1,568

3,680

2,333

7,581

At 31 December 2023

2,092

6,105

1,780

9,977

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

248,607

123,580

Amounts owed by group undertakings

1,260

1,260

Other debtors

-

1,000

Prepayments

6,404

11,051

256,271

136,891

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

99,031

42,053

Tax

76,166

41,783

Social security and other taxes

(10,222

)

1,144

VAT

22,823

20,844

Other creditors

27,162

9,816

Directors' loan accounts

-

8,499

Accrued expenses

19,962

20,104

234,922

144,243

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year, A E Murray reduced his loan to the company. As at 31 December 2024, the company owed him £Nil (2023: £8,499). This balance represented the maximum amount outstanding during the period and the loan is interest free and repayable on demand.

8.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is A Murray.

This was by virtue of his 100% holding of the issued share capital.