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Registered number: 05989418 CLEAN CUT MEDIA LIMITED UNAUDITED FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 31 MARCH 2026
CLEAN CUT MEDIA LIMITED REGISTERED NUMBER: 05989418 STATEMENT OF FINANCIAL POSITION AS AT 31 MARCH 2026
|  | 2026 |  | 2025
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 5 |  | 264 |  | 2,564
Investments | 6 |  | 528,000 |  | 528,000
|  |  | 528,264 |  | 530,564
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 7 | 36,758 |  | 82,278 |
Cash at bank and in hand | 8 | 11,851 |  | 16,898 |
|  | 48,609 |  | 99,176 |
Creditors: amounts falling due within one year | 9 | (134,074) |  | (166,980) |
Net current liabilities |  |  | (85,465) |  | (67,804)
Total assets less current liabilities |  |  | 442,799 |  | 462,760
Provisions for liabilities |  |  |  |  |
Deferred tax | 10 | (50) |  | (487) |
|  |  | (50) |  | (487)
Net assets |  |  | 442,749 |  | 462,273
Capital and reserves |  |  |  |  |
Called up share capital | 11 |  | 2 |  | 2
Profit and loss account |  |  | 442,747 |  | 462,271
|  |  | 442,749 |  | 462,273
Page 1
CLEAN CUT MEDIA LIMITED REGISTERED NUMBER: 05989418 STATEMENT OF FINANCIAL POSITION (CONTINUED) AS AT 31 MARCH 2026 The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
................................................ Robert O'Farrell | ................................................ Martin Lane
Director | Director
Date: 5 May 2026 |
The notes on pages 3 to 9 form part of these financial statements. Page 2
CLEAN CUT MEDIA LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026
1. | General information
Clean Cut Media Limited is a Limited Company incorporated in the United Kingdom. The address of its registered office is Unit 5, St Johns Mews 13 St. Johns Road, Hampton Wick, Kingston Upon Thames, Surrey, KT1 4AN. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. The following principal accounting policies have been applied:
| 2.2 | Going concern
The Directors believe that the Company will have adequate resources to meet its liabilities as they fall due for at least twelve months from the date of approval of these financial statements. Accordingly, the going concern basis has been adopted in preparing these financial statements.
| 2.3 | Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
| 2.4 | Expenses
Expenses incurred have been recognised on an accruals basis.
| 2.5 | Property
Property is carried at fair value determined annually by external valuers and derived from the current market rents and property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No amortisation is provided. Changes in fair value are recognised in the Statement of Comprehensive Income.
| 2.6 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Page 3
CLEAN CUT MEDIA LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026 2.Accounting policies (continued)
| 2.6 | Tangible fixed assets (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following basis:
|  |  |  | Leasehold property | - | straight line basis over 3 years
|  |  |  | Production equipment | - | straight line basis over 3 years
|  |  |  | Fixtures & fittings | - | straight line basis over 3 years
|  |  |  | Office equipment | - | straight line basis over 3 years
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
| 2.7 | Foreign currency translation
Functional and presentation currency The Company's functional and presentational currency is GBP. Transactions and balances Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined. Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges. Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.
| 2.8 | Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. Page 4
CLEAN CUT MEDIA LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026 2.Accounting policies (continued)
| 2.9 | Operating leases: the Company as lessee
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.
| 2.10 | Pensions
Defined contribution pension plan The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.
| 2.11 | Taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. 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 income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that: ∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and ∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date. Page 5
CLEAN CUT MEDIA LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026 2.Accounting policies (continued)
| 2.12 | Valuation of investments
Investments in subsidiaries are measured at cost less accumulated impairment. Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment. Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.
3. | Judgments in applying accounting policies and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at date of the Statement of Financial Position and the amounts reported for revenues and expenses during the year. Critical accounting estimates and assumptions The Company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amount of the assets and liabilities within the next financial year are addressed below. Useful economic lives and residual values of non financial assets The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are reassessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, economic utilisation and the physical condition of the assets. See note 10 for the carrying amount of the non financial assets and note 2.6 for the useful economic lives for each class of assets. Impairment of debtors The Company makes an estimate of the recoverable value of trade and other debtors. When assessing impairment of trade and other debtors, management considers factors including the current credit rating of the debtor, the ageing profile of the debtors and historical experience. Note 12 contains details of the net carrying amount of the debtors and any associated impairment provision.
4. | Employees
| The average monthly number of employees, including directors, during the year was 5 (2025 - 5).
Page 6
CLEAN CUT MEDIA LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026
5. | Tangible fixed assets
|  | Freehold Improvements | Production Equipment | Fixtures & fittings | Office equipment | Total
|  | £ | £ | £ | £ | £
| Cost or valuation |  |  |  |  |
| At 1 April 2025 | 36,452 | 241,522 | 27,791 | 108,995 | 414,760
| At 31 March 2026 | 36,452 | 241,522 | 27,791 | 108,995 | 414,760
| Depreciation |  |  |  |  |
| At 1 April 2025 | 36,452 | 241,522 | 27,546 | 106,676 | 412,196
| Charge for the year on owned assets | - | - | 122 | 2,178 | 2,300
| At 31 March 2026 | 36,452 | 241,522 | 27,668 | 108,854 | 414,496
| Net book value |  |  |  |  |
| At 31 March 2026 | - | - | 123 | 141 | 264
| At 31 March 2025 | - | - | 245 | 2,319 | 2,564
6. | Property
|  | Property
|  | £
| Cost or valuation |
| At 1 April 2025 | 528,000
| At 31 March 2026 | 528,000
| On 28 January 2020 the property owned by Clean Cut Media Ltd was independently valued by Levene Chartered Surveyors at £528,000.
Page 7
CLEAN CUT MEDIA LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026
7. | Debtors
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
| Trade debtors | - | 46,777
| Other debtors | 14,923 | 13,452
| Prepayments and accrued income | 21,835 | 22,049
|  | 36,758 | 82,278
8. | Cash and cash equivalents
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
| Cash at bank and in hand | 11,851 | 16,898
|  | 11,851 | 16,898
9. | Creditors: Amounts falling due within one year
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
| Trade creditors | 16,179 | 63,314
| Corporation tax | 2,615 | 3,677
| Other taxation and social security | 8,522 | 9,032
| Other creditors | 44,999 | 30,000
| Accruals and deferred income | 61,759 | 60,957
|  | 134,074 | 166,980
Page 8
CLEAN CUT MEDIA LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026
10. | Deferred taxation
|  | 2026
|  | £
| At beginning of year | (487)
| Charged to the profit or loss | 437
| At end of year | (50)
| The provision for deferred taxation is made up as follows:
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
| Accelerated capital allowances | (50) | (487)
|  | (50) | (487)
11. | Share capital
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 2 (2025 - 2) Ordinary shares of £1.00 each | 2 | 2
12. | Commitments under operating leases
| At 31 March 2026 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
| Not later than 1 year | 24,000 | 24,000
| Later than 1 year and not later than 5 years | - | 2,000
|  | 24,000 | 26,000
Page 9