Legacy Media Ltd Filleted accounts for Companies House (small and micro)

0 false false false false false false false false false true false false false false false false No description of principal activity 2020-08-01 Sage Accounts Production Advanced 2020 - FRS102_2019 5,800 5,800 xbrli:pure xbrli:shares iso4217:GBP 9684853 2020-08-01 2021-07-31 9684853 2021-07-31 9684853 2020-07-31 9684853 core:NetGoodwill 2020-08-01 2021-07-31 9684853 bus:Director1 2020-08-01 2021-07-31 9684853 core:NetGoodwill 2021-07-31 9684853 core:WithinOneYear 2021-07-31 9684853 core:WithinOneYear 2020-07-31 9684853 core:ShareCapital 2021-07-31 9684853 core:ShareCapital 2020-07-31 9684853 core:RetainedEarningsAccumulatedLosses 2021-07-31 9684853 core:RetainedEarningsAccumulatedLosses 2020-07-31 9684853 bus:SmallEntities 2020-08-01 2021-07-31 9684853 bus:AuditExemptWithAccountantsReport 2020-08-01 2021-07-31 9684853 bus:FullAccounts 2020-08-01 2021-07-31 9684853 bus:SmallCompaniesRegimeForAccounts 2020-08-01 2021-07-31 9684853 bus:PrivateLimitedCompanyLtd 2020-08-01 2021-07-31

COMPANY REGISTRATION NUMBER: 9684853

Legacy Media Ltd

Filleted Unaudited Financial Statements

31 July 2021

Legacy Media Ltd

Statement of Financial Position

31 July 2021

	2021		2020
Note	£	£	£

Current assets

Debtors	7	3,087	7,500
Cash at bank and in hand		246	244
		-----	-----
		3,333	7,744

Creditors: amounts falling due within one year	8	4,688		7,516
		-----		-----
Net current (liabilities)/assets			( 1,355)	228
			-----	---
Total assets less current liabilities			( 1,355)	228
			-----	---
Net (liabilities)/assets			( 1,355)	228
			-----	---

Capital and reserves

Called up share capital	100	100
Profit and loss account	( 1,455)	128
	-----	---
Shareholders (deficit)/funds	( 1,355)	228
	-----	---

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 July 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 25 April 2022 , and are signed on behalf of the board by:

Mr G Stoker
Director

Company registration number: 9684853

Legacy Media Ltd

Notes to the Financial Statements

Year ended 31 July 2021

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 31 New Road, Ham, Richmond, Surrey, TW10 7HZ.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

(a) Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

(b) Revenue recognition

The turnover shown in the profit and loss account represents amounts receivable for services provided during the year, exclusive of Value Added Tax.

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss. Current tax is measured at the amounts of tax expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

(d) Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

	Goodwill	-	20% straight line

(e) Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

(f) Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Office Equipment	-	33% straight line

(g) Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

4. Employee numbers

The company has no employees with all work undertaken by the director who is not engaged under a service contract.

5. Intangible assets

	Goodwill
	£
Cost
At 1 August 2020 and 31 July 2021	5,800
	-----
Amortisation
At 1 August 2020 and 31 July 2021	5,800
	-----
Carrying amount
At 31 July 2021	–
	-----
At 31 July 2020	–
	-----

6. Tangible assets

	Equipment	Total
	£	£
Cost
At 1 August 2020 and 31 July 2021	2,800	2,800
	-----	-----
Depreciation
At 1 August 2020 and 31 July 2021	2,800	2,800
	-----	-----
Carrying amount
At 31 July 2021	–	–
	-----	-----
At 31 July 2020	–	–
	-----	-----

7. Debtors

	2021	2020
	£	£
Trade debtors	1,914	4,586
Other debtors	1,173	2,914
	-----	-----
	3,087	7,500
	-----	-----

8. Creditors: amounts falling due within one year

	2021	2020
	£	£
Trade creditors	2,877	3,261
Corporation tax	–	1,594
Social security and other taxes	607	1,627
Other creditors	1,204	1,034
	-----	-----
	4,688	7,516
	-----	-----

9. Director's advances, credits and guarantees

Debtors include £729 (2020: £2,914) due from the director. Amounts advanced during the year totalled £2,785 and repayments in the year totalled £4,970. The outstanding amount is unsecured, subject to an interest rate of 2.5% and repayable on demand.