Ricochet Media Services Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06043446 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2018

FOR

RICOCHET MEDIA SERVICES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J Ezekiel

R Gamage

SECRETARY:

R Gamage

REGISTERED OFFICE:

1st Floor, Building 2

Croxley Green Business Park

Watford

Hertfordshire

WD18 8YA

REGISTERED NUMBER:

06043446 (England and Wales)

ACCOUNTANTS:

20:20 Accountancy Solutions Ltd

The Stile, Rowley Lane

Arkley

Hertfordshire

EN5 3HS

FIXED ASSETS

Tangible assets

4

1,743

1,849

CURRENT ASSETS

Debtors

5

171,097

155,138

Cash at bank

25,526

16,937

196,623

172,075

CREDITORS

Amounts falling due within one year

6

(140,776

)

(88,079

)

NET CURRENT ASSETS

55,847

83,996

TOTAL ASSETS LESS CURRENT LIABILITIES

57,590

85,845

CREDITORS

Amounts falling due after more than one year

7

-

(38,892

)

NET ASSETS

57,590

46,953

CAPITAL AND RESERVES

Called up share capital

8

1,200

1,000

Retained earnings

56,390

45,953

SHAREHOLDERS' FUNDS

57,590

46,953

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 10 April 2019 and were signed on its behalf by:

R Gamage - Director

1.	STATUTORY INFORMATION

Ricochet Media Services Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates

No significant judgements or estimates have been made by the directors in preparing these 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

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

20% on cost

Computer equipment

-

25% on cost

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

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.

Revenue recognition

Revenue comprises the fair value of consideration received or receivable in rendering services in the ordinary

course of the company's activities for the accounting period under review.

Revenue from services unbilled at the 31st December 2018 are recognised using the percentage of completion

method based on the actual service provided as a proportion of the total service to be performed.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2017 - 11 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2018

16,193

Additions

1,729

At 31 December 2018

17,922

DEPRECIATION

At 1 January 2018

14,344

Charge for year

1,835

At 31 December 2018

16,179

NET BOOK VALUE

At 31 December 2018

1,743

At 31 December 2017

1,849

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Trade debtors

165,922

150,030

Other debtors

5,175

5,108

171,097

155,138

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Bank loans and overdrafts

38,892

22,224

Trade creditors

(1

)

-

Taxation and social security

65,298

44,226

Other creditors

36,587

21,629

140,776

88,079

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.18

31.12.17

£

£

Other creditors

-

38,892

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.18

31.12.17

value:

£

£

1,000

A' Ordinary

£1

1,000

1,000

100

D' Ordinary

£1

100

-

100

E' Ordinary

£1

100

-

1,200

1,000

The following shares were issued during the year for cash at par :

100 D' Ordinary shares of £1

100 E' Ordinary shares of £1

9.	RELATED PARTY DISCLOSURES

The Company is controlled by Mr R Gamage and Mr J Ezekiel. The Company owed £4,367 to Mr Gamage and

£4,331 to Mr Ezekiel at 31 December 2018.