Charlty ￿gIstratIOn number SC051449 (Scotlandl
Company registration numbèr SC557334 Iscotlandl
MUCKLE TOON MEDIA LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
JRW
HOGG&
THORBURN

MUCKLE TOON MEDIA LIMITED
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Mr J H Harnmond
Mr W S Young
Mr G J Gr3ha
Secretary
Y Murray
Charlty number Iseotlandl
SCO51449
Cornpany number
SC557334
Prlnclpal address
47a High Street
Langholm
DG13 OJH
Registered office
Ashleybank House
High Street
Langholm
Oumfriesshire
Scotland
DG13 OAN
Independ•nt examlner
Joanne Gibso
JRW Hogg & Thorbum LLP
Ch8rtered Accountants
19 8u¢¢leu¢h Street
H8wick
Roxburghshire
T09 OHL

MUCKLE TOON MEDIA LIMITED
TRUSTEES. REPORT (INCLUDING DIRECTOR'S REPORT)
FOR THE YEAR ENDED 31 DECEMBER 2025
The trustees present their annual report and financial statements lor the year ended 31 December 2025.
The financial statements hav8 been prepared in a¢¢ordance with the accounting policies set out in note 1 to the
financial statements and ¢ornply with the chaThVs goveming document. the Companies Act 2006 the Charities and
Trustee Investment (Scollandl Act 2005. the Charities Accounts Iscollandl Regulations 2006. FRS 102 "The
Financi81 Reporting Standard applicable in UK and Republic of Ireland. and the Charities SORP "Accounting
and Reporting by Charities.. Staternenl of Rewmmended Practice applicable to charitie5 preparing their accounts in
accordanc& with the Financial Reporting Standard applicatjle In the UK and Republic of Ireland IFRS 1021..
Objectives and activlties
The principal objectives ol the company are..
The advancement ol Gomrnunity developrn8nt in Langholm and the svrrounding area which compllses DG13,
DG14 and the Newcastleton District Cornmunity Council area within TD9 1.the comrnunity'l by developing and
operating community newspapèrs and community websit85",
The advancement of Heritage by Fnaintaining and archive ol local history and making it availablè to the public.
Achievements and pèrformance
SignifiGant activities and èchiev8rFJents against objectiV8S
2024 has seen a successful 'bedding-in' process lor our new local editor. Now with an ernphasis much more on
local news wherever p055ible, positive comments received from the public have welcomed the change to the E&L's
content.
It rernains the objective of the bo8rd and staff to make the E&L an integral part of community life by conts'nuing to
inform, educate and entertain. To this end we intend to introduce free online subscriptions to pupils, and fomier
pupils in higher education. of Langholm A¢ademy to encourage younger reader who may go on to p3rti¢ipating in
thè life of the paper. We will discuss this directly with the school.
Even with the induslry-wide reduction in hard Gopy newspaper sales, our local paper remains the best-selling
weekly publication in the Langholm and Eskd8le area and even exceeds the best daily sales of any of the national
newsp8pers. We publish over 800 copies ol the Eskdale & Liddesdale Advertiser IE&LI 68ch week as well as
having over 150 online subscribers. which is an increase of just short 015090 on last year and allows us to achieve
an eslimaled overall readership in excess of 3,000 people.
This level ol penetration shows how much the E&L is not only appreciated but is required ￿adIng for informalion on
local affairs for an essentially elderly population who prefer ttte paper to the online wc>rd. That Said. we will be
looking lo improve and upgrade our online presence over the next year.
Financlal review
During the year, income of £117,450 was rec8ived. Expenditure totalled £94,989. Total reserves at 31 sl December
2025 stood 81 £70,371. all ol which relate to unrestricted funds.
Resetyes policy
In Ihe perfect world, we would aim lo hold reserves of the equivalent of six months running costs which would
around £50,000.
Obtainin9 charitable slatus has helped our fvndraising ability and we expect to generate more income through
grants and donations in future.
Plans for futur& perlods
Our plans remain lo continually improvè the quality and extent ol our ¢overage ol news. views, events and adivth'es
in the Eskdale and Liddesdale valleys. It is pleasing to note that the number of contributors to the E&L are
increasing which will add further diversily to our community fgporting.
We are currenily working on funding plans 8nd 8pplications to various ftjnders that will help sustain ihe paper for 3
year5 from the stsrt of 2026.

MUCKLE TOON MEDIA LIMITED
CONTENTS
Page
Trustees, retX)rt
Independent examiner's r8POrt
S￿lement of financial activities
Balance sheet
Notes lo the financial statements
6-14

MUCKLE TOON MEDIA LIMITED
TRUSTEES, REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
Structure, governance and management
The charity Is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by
guarantee. as defined by the Companies Act 2(X)6.
OSCR gave Muckle Toon Media Limited permission tts becotll8 8 chari￿bIe Company on 1311212021. Previously
known as Muckle Toon Media CIC la Comtmunity Interest Company), Muckle Toon M9dia CIC transferred all of its
activities, assets and liabililies from 1311212021 to the charity.
The trustees, who are also the directors lor the purpose of cornpany law. and who served during the year and up to
the dale of signature of the financial 5talemenls were..
Mr J H Hammond
Mr W S Young
Mr G J Graham
Recruitment and appointment of truslees
We continue to look lor new trustees who could help manage the paper 8nd its aims.
Organisational strtsctur8
The structure of the eompany consists of..-
The Members - who have the right to attend the annual general meeting land any other gener81 meeting) and h8ve
important powers under the Articles of Association and the Act, in particular. the members elecl people lo serve as
d1￿ClorS and take deasions in relation to ¢h8nges to the articles themselves.
The Directors who hold regular meetings during the period be￿eern annual general meetings. and generally
control and supervise Ihe activities of the company., in particular. the direclors are responsible for monitoring the
financial position of the company.
The Irustees, report was approved by the Board of Trustees.
mmond
Trustee
1 June 2026

MUCKLE TOON MEDIA LIMITED
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF MUCKLE TOON MEDIA LIMITED
I report on the financial statements of the ch8rity for the year ended 31 Oecember 2025, which are set OL*t on pages
4t014.
Re5pectNe responsibi15tles of trustee5 and examiner
The charity trustees (who are also the director3 of Muckle Toon Media Limited for the purposes of company lawl are
responsible for the preparation of the financial statement5 accord8nce with the temis of the Charities and Trustee
Investment (Scotlandl Act 2005 the Charities Accounts Iscollandl Regulation5 2006.The chaTily ITuslees
consider that the audit requirement of Regulats"on 1011 Ilal-lcl of the Charities Accounts (Scotlandl Regulations 2006
does not appty.
1115 my responsibility to examine the finanoial st8tements as required under section 4411 Ilcl of the Charities and
Trustee Investment Iscouandl Act 2005 and to state whether particular matters have come to my attention.
B35is of indèpendent examiner's statement
My examinatitsn is carried out in accordance with Regulats'on 11 of ihe Chafilies Accounts (Scotlandl Regulations
2006. An examination Includes a review of the accounting records kept by the charity and a comparison of the
finanual statements presented with those records. It also includes consideration of 8lly unusual items or disclosuies
in the financial statements, and seeking explanations from the trustees concerll1ng any such rnatter5. The
procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not
express an audit opinion on the vi8w given by the financial statements.
Independent examln•rfs statem•nt
Since the chaTlty has prepared its financial ststernents on an accruals basis and is 3150 registered in Scotland, the
independent ex8miner must be a member of a body listed In Regulation 11121 Df the Charities Accounts (Scotlandl
Regulations 2006. 1 confirm that l am qualified to undertake Ihe exarnination because l am a member of The
institute of Chartered Accountants Df Scotland. which is one of the listed bodies.
In the course ol my examinalion. no matter h85 comè to my attention
1. which gives reasonable cause to believe that In 3ny m8teriaS respect the requirements."
to keep accounting reGords in accordance with Section 4411 Ila) ol the Charities and Trustee Investment
(Scotlandl Act 2005 and Regulation 4 of the Charities Accounts Iswtlandl Regulations 2006, and
to prepare financial statements which accord with the accounting records and cornply with Regulatlon 8 of
the Charities Accounts (Scotlandl Regulats'on5 2006
have not been met, or
2. lo which. in my opinion, 8ttents.on should be drawn in order to enable a proper understanding of ihe financi81
statements to be reached.
nne Gibson
JRW Hogg & Thorburn LLP
Chartered Accountants
19 Buccleuch Street
Hawick
Roxburghshire
TD9 OHL
1 June 2026

MUCKLE TOON MEDIA LIMITED
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2025
Un￿strICted Rastrict•d
funds
funds
2025
2025
Total Unrestrictèd Restricted
funds
funds
2024
2024
Totsl
2025
2024
Notes
Income from:
Donations and legacies
Charitable aclivities
Cornrnunily Newsp8per
24,800
31.000
55.800
13,000
26,000
39,000
61,282
61,282
63,315
63.315
Other trading activitie5
Investments
359
359
Total Income
86.450
31,000
117,450
76,323
26,000
102,323
Expenditure on..
Charitable activitie5
CoTllTnunity Newspaper
63,989
31,000
94,989
62,014
30,324
92,338
Total expendlturè
63.989
31,000
94,989
62,014
30.324
92.338
Net income and movement In
funds
22,461
22,461
14,309
14,3241
9,985
Reconciliation of funds:
Fund balances 8t 1 January
2025
47,910
47,910
33,601
4,324
37.925
Fund balances at 31
December 2025
70,371
70,371
47,910
47.910
The notes f(m pari of these financ4al statements

MUCKLE TOON MEDIA LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 202S
202S
2024
Notes
Fixed a55et5
Tangible a55ets
12
425
500
Current assets
Debtor5
Cash at bank and in hand
13
8,682
66,174
10,509
42.181
74,856
52,690
Crtrdltors: amounts falllng due within
one yeor
14
14,9101
15,2801
Net current assets
69,946
47,410
Total assets less current liabilities
70,371
47.910
The funds ofthe charity
Unrestricted funds
17
70.371
47,910
70,371
47,910
The notes form part of these financial staternents
The company is enlilled lo the exemption Irorn th8 audit requirement contained in section 477 of the Companies Act
2006. for the year ended 31 December 2025.
The director acknowledge5 his responsibilities for complying with the requirements tsf the Companies Act 2006 with
resp8Ct to accounting records and the prep8r81ion of financial statements.
The members have not required the company to obtain an audit of its fin8nci815tatements for the year in question in
accordance with seclion 476.
These financial siatements have been prepar8d in accordance with the provisions 8pplic8ble to companies subject
to the small cotnpanies regime.
The financial staternents were approved by th8 tru5t6es on 1 June 2026
MrJHH
Trustee
mon
MrWSY
Trustee
Company re
n number SC
334 (Scollandl

MUCKLE TOON MEDIA LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Aeeountlng pollcies
Charlty 5nformatlon
Muckle Toon Media Li￿rted is a priv3te company lirnited by guaranlee incorporated in Scotland. The
registered office is Ashleybank House. High Street, Langholm, Dumlriesshire, DG13 OAN, Scotland.
1.1 Basls of preparation
The financial statements have been prepared in accordance with the charitrf5 gov8ming docLJmènt. the
Companies Act 2006 the Charitie5 ancl Trustee Investment (Scollandl Act 2005, the Charities Accounts
(Scollandl R8gul8tions 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic
of Ireland" and the Charrties SORP "Accounting and Reporting by Charities.. Statement of Recommended
Practi￿ applicable to charities preparing their accounts accordance with thè Fillancial Reporting Stsndard
applicable in the UK and Republic of Ireland IFRS 1021. The charity is a Public Benefit Entity as defined by
FRS 102.
The charity has laken advantage of the provisions in the SORP for charities not to prepare a statement of
cash flows.
The financial statements are p￿pared in sterling, which is the funclional currency of the charity. Nlonetary
amounts in these financial statements are rounded lo the nearest £.
The financial statements have been prepared under thè historical cost convention. The principal accounting
poliaes adopted ao set out below,
1.2 Going concern
At the lime of approving the financial slalements, the Imstees have a reasonable expectation that the charity
has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees
continue to adopt the going concern basis of 3ccounlino in preparing the f1nancial statements.
1.3 Charitable funds
Unrestricted funds are 8V8i18ble for use at the discretion of the trustees in lurtherance of their charitable
objeth"ve$.
Restricted fvnds are subject to specifie conditions by donors or gr8ntor3 as to how they may be used. The
purposes and uses of the restrictéd funds are $81 out in the note5 to the financial stalements.
Endowment funds are subject to specifi¢ condition5 by dortors that the capitsl must be maintained by the
Charity.
1.4 Income
Income 15 recognised when the charity is legally entitled to it after any performance conditions have been met.
the arnounts can be measured reliably, and it 15 probable that income will be ￿Ceived.
Cash donations are recognised on receipt. Other don8tions are recognised once the charity has been notified
of the donation, unless perforrnarice conditions require deferral of the amount. Income tax recoverable in
Telation to donations r8Geived under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution,
the amount is known, and Teceipt expected. If the amount is not known, the legacy is treated as a
contingent asset.
Newspaper and 8dvert15ing sales are recognised when the transaction ha5 taken place. Income ￿ceIVed in
advance is deferred until the criteria for income reoognitioll are mel.

MUCKLE TOON MEDIA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
Accounting policies
(Continued)
1.5 Expgndltura
EXpend￿t￿Te is recognised once there is a legal or constructive obligation lo transfer economic benefil to a
third party, il Is probable that a transfer of economic benefits will be required in settlement, and the amount of
the obligalion can be measured reliably.
Expenditure is classified by activity. The cost5 of each activity are made up of the total ol direct costs and
shared costs, including support costs involved in undertaking each 8ctivlty. Direct costs attributable to a single
aclivity are allocated directly to th8t a¢tivily. Shared costs which contribute to more Ihan one activity
5UPPOrt costs which are not attributable to a Single activaly are apporiioned between those activities on a basis
consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and
depreciation charges are 8llocat8d on the portion of the asset's use.
1.6 Tangible fix•d assets
Tangible fixed assets are initially measured at cost and subsequently measured al cost or v81u8tion, net of
depreciation and any impairment losses.
Depreciation is recognised so 8S to write off the cost or valuation of assets less their residual values over their
usèful lives on the following base5'.
FixlLJres and fittings
ComputeTS
150/0 reducing balance
330/0 on cost
The gain or loss arising on the disposal of an asset is detemined as the difference between the sale proceeds
and the carrying value of the asset, and is recognised in the slal6ment ol financial activities.
1.7 Impalm)•nt of flxed assets
At each reporting end date, the charity rèviews Ihe carrying amounts of ils tangible assets to determine
whether there is any indication that those assets have sUffe￿d an impairment loss. If any such *ndi¢8tion
exists, the recoverable amount of the asset is estimeted in order to detemiine the extent of the irnpairment
loss lif any).
1.8 Flnanclal instruments
The charity has elected to apply the provisions of Section 11 '8asic Financial Instruments. and Section 12
'Other Financial Instruments Issues, of FRS 102 to all of its financial in5trurnents.
Financial instruments are recognised in the charity's b8lance sheet when the charity becomes party to the
contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the finanual 51atement5, when
there is a legally enforceabSe right to set off the recognised amounts and there is an intention to settle on a net
basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially rneasured at
tran53Ction price including transaction cost5 and are subsequently carried at amortised cosl using the effective
interesl method unless the arrangement constitutes a financing transaction, where the transaction is
measured at the present value of Ihe future receipts discounted at a market rate of interest. Financial assets
classified as receivable within one year are noi amortised.

MUCKLE TOON MEDIA LIMITED
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
A¢counting policies
Icontinuedl
Baslc flnanclal Ilabllltlès
Basic financial liabilities, including creditors and bank loans are initially recognised al tran58Ction price un185S
the arrangement constitutes a financing transèclion, where the debt instrument is measured al the present
value of the future payments discounted at a market rate of inleresl. Financial liabilities classified as payable
within one year are not 8nlOrtised.
Debt instruments are subsequenuy carried at amort15ed c05t, Using the effectivè interest rate method.
Trade creditors are obligations to pay lor goods or services that have been 8cquired in the ordinary course of
operalions frotn suppliers. Arnounls payable are classified as current liabililies if PayTnent is due within one
year or less. If not. they are presented as non-current liabilities. Trade creditors are recognised initially at
transaction price and subsequently measured 8t amortised cost using the effective interest method.
Derecognition of financial Ilabilit1è5
Financial liabilities are derecognised when th8 charity'5 conlraclual obligations expire or are discharged or
cancelled.
1.9 Retirement benefits
Paymènts to defined contribution reliremenl bènefit schèmes 8re charged as an expense as they fall due.
Income from donatlons and legacies
Unrestricted Restricted
fund5
funds
2025
2025
Total Unrestricted Restrlcted
funds
fLtnds
2024
2024
Total
2025
2024
Donations and grants
24.800
31,000
55.800
13.000
26,000
39.000
Income from charitable actlvltles
Unrestrlet•d
lunds
2025
Unr•$tri¢ted
funds
2024
Community Newspaper
Newspaper Sales
Advgrtising
Royalties
Online subscriptions
28,285
25,879
560
6,558
31,360
25,709
403
5,843
61.282
63,315

MUCKLE TOON MEDIA LIMITED
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
Incomè from other trading actlvities
Unrestricted Unre5trlelèd
funds
fund5
2025
2024
Other sales
Income from investments
Unrestricted UnrèstrletÈd
funds
funds
2025
2024
Interest receivable
359
Expenditurè on charitsble activlties
Communlty CommunSty
Newspaper
N¥wspaper
2025
2024
Direct costs
Staff costs
Printing setvices
Distribution 00515
Freelance staff
Sales commissions
Cornputeis & software
Bad debt provision
47,252
19,Q31
2,078
12,722
203
1,900
553
44,727
18,716
2.298
11,208
208
1,213
186
83,739
78.556
Share of support and governance costs Isee not• 71
Support
Governarice
9,750
1,500
12,282
1,500
94,989
92,338
Analysi5 by fund
Unrestricted fund5
Restricted funds
63,989
31,000
62,014
30,324
94,989
92,338

MUCKLE TOON MEDIA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
Support eosts allocated to activities
2025
2024
Depreciation
Operating lease charges
Insurance
Light. heat & water
Telephone
Postage & ststionery
Sundries
Repair5 & renewals
Bank charges
Subscriptions
Accountancy 8 piofession81 fee8
Governance costs
75
3,300
500
1,186
904
831
604
199
813
991
347
1,500
1,140
2.750
368
2,340
609
453
1.122
1.038
830
1,072
560
1,500
11,250
13,782
Analys•d bètween-
Community Newspaper
11.250
13.782
Net movement In fLFnds
2025
2024
The net movernent in funds is staled after ¢hargingllcreditingl'.
Fees payable for the independent examination of the charity5 financial
Statements
Depreciation of owned tangible fixed assets
Operating lease charges
1,500
75
3.300
1,500
1,140
2,750
Trustees
None of the Iruslees lor any persons connecled with them) received any remuneration or benefits from the
charity during the year.
10 Employees
The average monthly number of employees during the year was..
2025
Number
2024
Numbèr
Staff
10-

MUCKLE TOON MEDIA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
10 Employees
(Continued)
Employment costs
2025
2024
Wages and salaries
Other pension costs
45,920
1,332
43.583
1,144
47,252
44,727
There were no employees whose annual remvner8tion w85 more than £60,000.
R¥mun•ratlon of key management personnel
The rgmuneraiion of key management personnel was as follows..
2025
2024
Aggregate compensation
36,144
34.978
11 Taxation
Th8 charity is exempt from taxation on its activities because all its income is applied lor ch8Tltable purposes.
12 Tgnglbl¢ Ilxed assets
Flxtur8s an
littings
Comp￿￿r5
Totsl
Cost
At 1 January 2025
820
3,258
4,078
At 31 De￿mber 2025
820
3,258
4,078
DeP￿Clot10n and imp3irrn8nt
At 1 January 2025
Depreciation ch8rged in thè year
320
75
3,258
3,578
75
At 310ecember 2025
395
3,258
3,653
Carrylng amount
At 31 December 2025
425
425
At 31 December 2024
500
500

MUCKLE TOON MEDIA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
13 Debtor5
2025
2024
Amounts falllng due wSthln on¢ year-
Trade debtors
Prep8yments and accrued incomè
7,828
854
9,838
671
8,682
10,509
14 Creditors: amounts falling due within one year
2025
2024
Other taxation and social security
Trade creditors
Accruals and deferred income
489
2,821
1,600
657
2,192
2,431
4,910
5.280
15 Retiremenl benefit schemes
2025
2024
Defined conlrlbutlon schemes
Charge to profit or loss in respecl ol defined contribution schemes
1,332
1,144
The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the
scheme are held separately from those of the charily in an independently administered fund.
16 Restricted funds
The restricted funds of the charity Comprise the unexpended b818nces of donations and grants held on trust
Subject lo specific condiltons by donors as to how they may be used.
At 1 January
2025
Incoming
resource5
Resourc•$
éxpended
At31
D•cember
2025
Foundatlon scolland
The Stevenson Trust
28,000
3,000
128,0001
13,0001
31.000
131,0001

MUCKLE TOON MEDIA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
16 Restrlcted funds
Iconlinuedl
Previous year:
At 1 January
2024
Incoming
resources
Resources
expended
At31
December
2024
Foundation scouand
4,324
26,000
130,3241
Foundation Scotland through Crossdyke5 Community Benef1ts Limiled. tOW8rds Hold the Front Pagel
project. The project will contribute towards the c05t Of employing a General Manager.
The Stevenson Trust- contribution towards the cost ol the general manager post.
17 Unrestrictèd funds
The unrestricted funds of the charity comprise the unexpended balan￿S of donations and grants which are
not subject to specific conditions by donors and grantors as to how they Tnay be used. These include
designated funds which have been set 85ide out of unrestricted funds by the truslees for specific purposes.
At 1 January
2025
Incoming
resources
Resources
eX￿nd•d
At31
Daeèmber
2025
General funds
47,910
86.450
163,9891
70,371
Previous year:
At 1 January
2024
Incoming
resources
Resources
expendèd
At31
Deeémber
2024
General funds
33,601
76.323
162,0141
47,910
18 Analysis of nèt assets between funds
Unrestrlcted
funds
2025
At 31 De¢emb•r 2025:
Tangible assets
Current assetsllliabilitiesl
425
69.946
70.371
13-

MUCKLE TOON MEDIA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
18 Analysis of net assets betw8èn funds
Icontlnuedl
Unrestrict•d
fund5
2024
At 31 December 2024=
Tangible assets
Current asselsllliabilitiesl
500
47.410
47,910
19 Related party transactions
A donation was received from J Hammond Charity Trust, a charity in which J H Harnmond is a trustee. The
total amount received during the year, without conditions, amovnted to £3,00012024, £4.0001.
14