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SPEY MEDIA LIMITED

Registered Number
SC544857
(Scotland)

Unaudited Financial Statements for the Year ended
31 March 2025

SPEY MEDIA LIMITED
Company Information
for the year from 1 April 2024 to 31 March 2025

Director | AGNEW, Nathalie

Company Secretary | SCOTT, Emma

Registered Address | Unit 14 Horizon Scotland
| 2 Innovation Way
| Forres
| IV36 2AB

Registered Number | SC544857 (Scotland)

SPEY MEDIA LIMITED
Balance Sheet as at
31 March 2025

| Notes | 2025 |  | 2024
--- | --- | --- | --- | ---
|  | £ |  | £ |  | £ |  | £
Fixed assets |  |  |  |  |  |  |  |
Tangible assets | 3 |  |  | 7,095 |  |  |  | 9,974
|  |  |  | 7,095 |  |  |  | 9,974
Current assets |  |  |  |  |  |  |  |
Debtors |  | 206,334 |  |  |  | 237,109 |  |
Cash at bank and on hand |  | 77,312 |  |  |  | 86,519 |  |
|  | 283,646 |  |  |  | 323,628 |  |
Creditors amounts falling due within one year |  | (151,641) |  |  |  | (261,201) |  |
Net current assets (liabilities) |  |  |  | 132,005 |  |  |  | 62,427
Total assets less current liabilities |  |  |  | 139,100 |  |  |  | 72,401
Net assets |  |  |  | 139,100 |  |  |  | 72,401
Capital and reserves |  |  |  |  |  |  |  |
Profit and loss account |  |  |  | 139,100 |  |  |  | 72,401
Shareholders' funds |  |  |  | 139,100 |  |  |  | 72,401

- The company was entitled to exemption from audit for this reporting period 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 Director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
- These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
- The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.
- The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).

The financial statements were approved and authorised for issue by the Director on 29 October 2025, and are signed on its behalf by:
AGNEW, Nathalie Director Registered Company No. SC544857

SPEY MEDIA LIMITED
Notes to the Financial Statements
for the year ended 31 March 2025

1. | Accounting policies
--- | ---

| Statutory information
--- | ---
| The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

| Statement of compliance
--- | ---
| The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.

| Revenue from sale of goods
--- | ---
| Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

| Revenue from rendering of services
--- | ---
| Revenue from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

| Operating leases
--- | ---
| Where, substantially, all the risks and rewards of ownership of the asset do not transfer from the lessor to the company, the lease is treated as an operating lease. Rentals payable under operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease.

| Employee benefits
--- | ---
| Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

| Finance costs
--- | ---
| Finance costs charged to the profit or loss include interest expense calculated using the effective interest method from FRS 102:11, finance charges on finance leases, and exchange differences on foreign currency borrowings where these are treated as an adjustment to interest costs.

| Foreign currency translation
--- | ---
| Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

| Current taxation
--- | ---
| Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

| Intangible assets
--- | ---
| Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.

| Tangible fixed assets and depreciation
--- | ---
| All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

|  | Straight line (years)
| Fixtures and fittings | 5
| Office Equipment | 3

| Investments
--- | ---
| Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

2. | Average number of employees
--- | ---

|  | 2025 |  | 2024
| Average number of employees during the year | 14 |  | 14

3. | Tangible fixed assets
--- | ---

|  | Total
--- | --- | ---
|  | £
| Cost or valuation
| At 01 April 24 | 32,264
| Additions | 1,780
| At 31 March 25 | 34,044
| Depreciation and impairment
| At 01 April 24 | 22,291
| Charge for year | 4,658
| At 31 March 25 | 26,949
| Net book value
| At 31 March 25 | 7,095
| At 31 March 24 | 9,974

4. | Related party transactions
--- | ---
| On 3rd July 2024, Muckle Media Limited acquired 100% of the share capital of the Company. At the reporting date, a balance of £64,229 was due from Muckle Media Limited in respect of intercompany transactions arising in the normal course of business. This balance is unsecured, interest-free, and repayable on demand.