SAGE MEDIA LIMITED - Accounts to registrar (filleted) - small 18.2
SAGE MEDIA LIMITED - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 May 2018 |
| for |
| SAGE MEDIA LIMITED |
| SAGE MEDIA LIMITED (Registered number: 05462823) |
| Contents of the Financial Statements |
| for the Year Ended 31 May 2018 |
| Page |
| Company Information | 1 |
| Chartered Accountants' Report | 2 |
| Balance Sheet | 3 |
| Notes to the Financial Statements | 5 |
| SAGE MEDIA LIMITED |
| Company Information |
| for the Year Ended 31 May 2018 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Scottish Provident House |
| 76-80 College Road |
| Harrow |
| Middlesex |
| HA1 1BQ |
| Chartered Accountants' Report to the Director |
| on the Unaudited Financial Statements of |
| SAGE MEDIA LIMITED |
| The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited |
| financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. |
| Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not |
| required to be filed with the Registrar of Companies. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial |
| statements of SAGE MEDIA LIMITED for the year ended 31 May 2018 which comprise the Income Statement, Balance Sheet and |
| the related notes from the company's accounting records and from information and explanations you have given us. |
| As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
| This report is made solely to the director of SAGE MEDIA LIMITED in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of SAGE MEDIA LIMITED and state those matters that we have agreed to state to the director of SAGE MEDIA LIMITED in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than SAGE MEDIA LIMITED and its director for our work or for this report. |
| It is your duty to ensure that SAGE MEDIA LIMITED has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of SAGE MEDIA LIMITED. You consider that SAGE MEDIA LIMITED is exempt from the statutory audit requirement for the year. |
| We have not been instructed to carry out an audit or a review of the financial statements of SAGE MEDIA LIMITED. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
| Scottish Provident House |
| 76-80 College Road |
| Harrow |
| Middlesex |
| HA1 1BQ |
| Date: ............................................. |
| SAGE MEDIA LIMITED (Registered number: 05462823) |
| Balance Sheet |
| 31 May 2018 |
| 2018 | 2017 |
| Notes | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 | ( |
) | ( |
) |
| NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
| CREDITORS |
| Amounts falling due after more than one year | 7 | ( |
) |
| NET LIABILITIES | ( |
) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| SAGE MEDIA LIMITED (Registered number: 05462823) |
| Balance Sheet - continued |
| 31 May 2018 |
| The director acknowledges his responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the director on |
| SAGE MEDIA LIMITED (Registered number: 05462823) |
| Notes to the Financial Statements |
| for the Year Ended 31 May 2018 |
| 1. | STATUTORY INFORMATION |
| SAGE MEDIA LIMITED is a |
| registered number and registered office address can be found on the Company Information page. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added |
| tax and other sales taxes. |
| Tangible fixed assets |
| Studio fixture and fittings | - |
| Filming and broadcasting equi pment | - |
| Office equipment | - |
| Electronic equipment | - |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that |
| it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively |
| enacted by the balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in |
| which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted |
| or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be |
| recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are |
| charged to profit or loss in the period to which they relate. |
| Going concern |
| The director considers that it is appropriate to prepare the financial statements on a going concern basis. |
| Although the balance sheet shows a deficiency of assets, this is funded by a loan secured by an unrelated third party. |
| The company's profits have also been continuously improving. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| SAGE MEDIA LIMITED (Registered number: 05462823) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 May 2018 |
| 4. | TANGIBLE FIXED ASSETS |
| Filming |
| Studio | and |
| fixture | broadcasting |
| and | equi | Office | Electronic |
| fittings | pment | equipment | equipment | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1 June 2017 |
| Additions |
| Reclassification/transfer | ( |
) |
| At 31 May 2018 |
| DEPRECIATION |
| At 1 June 2017 |
| Charge for year |
| Reclassification/transfer | ( |
) |
| At 31 May 2018 |
| NET BOOK VALUE |
| At 31 May 2018 |
| At 31 May 2017 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Bank loans |
| Amounts falling due in more than five years: |
| Repayable otherwise than by instalments |
| LiBank loan USD |
| Bank loan is secured by guarantee provided by unrelated third party. |
| 8. | RELATED PARTY DISCLOSURES |
| Creditors include an amount of £13,620 (2016: £20,820) payable to Adnan Faour, director of the company. This is an |
| interest free loan provided to the company. |