REGISTERED NUMBER: 07239443 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025

FOR

VARN MEDIA LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

T C Vaughton

Mrs E A Vaughton

REGISTERED OFFICE:

The Old Brewery

Newtown

Bradford on Avon

Wiltshire

BA15 1NF

REGISTERED NUMBER:

07239443 (England and Wales)

ACCOUNTANTS:

Andrew Cross & Co.

Chartered Certified Accountants

6 Green Lane Business Park

238 Green Lane

New Eltham

London

SE9 3TL

FIXED ASSETS

Tangible assets

4

91,828

96,333

Investments

5

315,648

335,349

407,476

431,682

CURRENT ASSETS

Work in progress

1,800

-

Debtors

6

353,645

344,781

Cash at bank

117,367

151,983

472,812

496,764

CREDITORS

Amounts falling due within one year

7

195,536

205,548

NET CURRENT ASSETS

277,276

291,216

TOTAL ASSETS LESS CURRENT LIABILITIES

684,752

722,898

CREDITORS

Amounts falling due after more than one year

8

834

10,833

NET ASSETS

683,918

712,065

CAPITAL AND RESERVES

Called up share capital

9

25

23

Share premium

7,473

4,225

Fair value reserve

10

58,193

78,646

Retained earnings

618,227

629,171

SHAREHOLDERS' FUNDS

683,918

712,065

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2025 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 21 October 2025 and were signed on its behalf by:

T C Vaughton - Director

1.	STATUTORY INFORMATION

Varn 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.

2.	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 as modified by the revaluation of certain assets.

Turnover

Turnover represents invoiced work for completed projects in the year together with the relevant proportion of work in progress at the year end date and taking into account work in progress already completed at the start of the financial year, exclusive of value added tax.

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

Work in progress

Work in progress is valued by taking account of the relevant proportion of sales invoices raised after the year end date, relating to work completed prior to the year end date.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2024 - 19 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 May 2024

190,348

Additions

20,865

At 30 April 2025

211,213

DEPRECIATION

At 1 May 2024

94,015

Charge for year

25,370

At 30 April 2025

119,385

NET BOOK VALUE

At 30 April 2025

91,828

At 30 April 2024

96,333

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST OR VALUATION

At 1 May 2024

335,349

Revaluations

(19,701

)

At 30 April 2025

315,648

NET BOOK VALUE

At 30 April 2025

315,648

At 30 April 2024

335,349

Cost or valuation at 30 April 2025 is represented by:

Other

investments

£

Valuation in 2021

238,964

Valuation in 2022

(4,154

)

Valuation in 2023

23,458

Valuation in 2024

(22,919

)

Valuation in 2025

(19,701

)

Cost

100,000

315,648

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

206,117

201,930

Other debtors

147,528

142,851

353,645

344,781

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

10,000

10,000

Taxation and social security

144,168

162,949

Other creditors

41,368

32,599

195,536

205,548

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

834

10,833

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

251

Ordinary

10p

25

23

1

Preference

10p

-

-

25

23

10.

RESERVES

Fair

value

reserve

£

At 1 May 2024

78,646

Revaluation reserve

(20,453

)

At 30 April 2025

58,193

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 April 2025 and 30 April 2024:

2025

2024

£

£

T C Vaughton

Balance outstanding at start of year

22,389

20,004

Amounts advanced

-

2,954

Amounts repaid

(933

)

(569

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

21,456

22,389

12.	ULTIMATE CONTROLLING PARTY

The controlling party is Littlevarn Limited, company number 14859976, registered office The Old Brewery, Newtown, Bradford on Avon, Wiltshire, BA15 1NF.

13.	SHARE-BASED PAYMENT TRANSACTIONS

The company has an Enterprise Management Incentive (EMI) Scheme in place under which share options have been granted to certain eligible individuals to subscribe to ordinary shares of £1 each at an exercise price of £162.50 per ordinary share, subject ot the rules of the scheme. The share options can be exercised on, or immediately prior to occurrence, of any of the following:

1. The option to acquire 26 option shares can be exercised in the period ending 30 April 2023 subject to meeting the year 1 qualifying conditions specified in the EMI agreement.

2. The option to acquire 20 option shares if the conditions in year 1 were met, or to acquire 46 option shares if the conditions in year 1 were not met, can be exercised in the period ending 30 April 2024 subject to meeting the year 2 qualifying conditions specified in the EMI agreement.

3. The option to acquire 20 option shares if the conditions in years 1 and 2 above were met, or to acquire 40 or 46 option shares if either of the conditions in years 1 or 2 were not met, can be exercised in the period ending 30 April 2025 subject to meeting the year 1 qualifying conditions specified in the EMI agreement.

The option was exercised to acquire 20 option shares during this period. There remains 20 ordinary shares under option at the year end which are potentially exercisable.