Popcorn Digital Limited Filleted accounts for Companies House (small and micro)

POPCORN DIGITAL LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 10492569

Popcorn Digital Limited

Filleted Unaudited Financial Statements

31 March 2023

Popcorn Digital Limited

Statement of Financial Position

31 March 2023

	2023	2022
Note	£	£

Current assets

Debtors	5	23,312	60,565
Cash at bank and in hand		237,419	215,621
		---------	---------
		260,731	276,186

Creditors: amounts falling due within one year	6	63,580	85,206
		---------	---------
Net current assets		197,151	190,980
		---------	---------
Total assets less current liabilities		197,151	190,980
		---------	---------
Net assets		197,151	190,980
		---------	---------

Capital and reserves

Called up share capital	1,000	1,000
Profit and loss account	196,151	189,980
	---------	---------
Shareholders funds	197,151	190,980
	---------	---------

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 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 19 December 2023 , and are signed on behalf of the board by:

Ms C L Seddon

Director

Company registration number: 10492569

Popcorn Digital Limited

Notes to the Financial Statements

Year ended 31 March 2023

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Fourth Floor, 50 Marshall Street, London, W1F 9BQ, United Kingdom.

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

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and 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. The following criteria must also be met before revenue is satisfied: Revenue from the rendering of services is recognised in the period in which the services are provided. Revenue from digital advertising is recognised on a receipts basis.

Income tax

The taxation expense represents the aggregate amount of current tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the asset of a company after deducting all of its liabilities.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).

5. Debtors

	2023	2022
	£	£
Trade debtors	17,933	59,844
Other debtors	5,379	721
	--------	--------
	23,312	60,565
	--------	--------

6. Creditors: amounts falling due within one year

	2023	2022
	£	£
Trade creditors	57,082	65,187
Amounts owed to group undertakings and undertakings in which the company has a participating interest	1,938	4,889
Corporation tax	1,529	9,472
Social security and other taxes	–	2,627
Other creditors	3,031	3,031
	--------	--------
	63,580	85,206
	--------	--------