In Ur Face Media Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06641249 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 August 2018

for

In Ur Face Media Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

J J Bunce

REGISTERED OFFICE:

Redland House

157 Redland Road

Redland

Bristol

BS6 6YE

REGISTERED NUMBER:

06641249 (England and Wales)

ACCOUNTANTS:

Wormald & Partners

Redland House

157 Redland Road

Redland

Bristol

BS6 6YE

FIXED ASSETS

Tangible assets

4

459,170

54,693

Investments

5

50

50

459,220

54,743

CURRENT ASSETS

Stocks

66,350

94,350

Debtors

6

272,108

696,327

Cash at bank and in hand

562,117

495,031

900,575

1,285,708

CREDITORS

Amounts falling due within one year

7

619,197

724,932

NET CURRENT ASSETS

281,378

560,776

TOTAL ASSETS LESS CURRENT LIABILITIES

740,598

615,519

PROVISIONS FOR LIABILITIES

8,089

10,392

NET ASSETS

732,509

605,127

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

9

732,409

605,027

SHAREHOLDERS' FUNDS

732,509

605,127

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

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

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.

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 Income Statement has not been delivered.

The financial statements were approved by the director on 7 January 2019 and were signed by:

J J Bunce - Director

1.	STATUTORY INFORMATION

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

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.

25 Riverside Business Centre

-

2% on cost

Advertising equipment

-

33.33% on reducing balance basis

Fixtures and fittings

-

15% on reducing balance basis

Motor vehicles

-

25% on reducing balance basis

Screens and computer equipment

-

33.33% on reducing balance basis

Investments in associates

Investments in associate undertakings are recognised at cost.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2017 - 7 ) .

4.	TANGIBLE FIXED ASSETS

25

Riverside

Fixtures

Business

Advertising

and

Centre

equipment

fittings

£

£

£

COST

At 1 September 2017

-

22,203

5,026

Additions

422,313

-

1,532

At 31 August 2018

422,313

22,203

6,558

DEPRECIATION

At 1 September 2017

-

20,956

2,302

Charge for year

5,717

416

639

At 31 August 2018

5,717

21,372

2,941

NET BOOK VALUE

At 31 August 2018

416,596

831

3,617

At 31 August 2017

-

1,247

2,724

Screens

and

Motor

computer

vehicles

equipment

Totals

£

£

£

COST

At 1 September 2017

16,480

58,269

101,978

Additions

-

4,521

428,366

At 31 August 2018

16,480

62,790

530,344

DEPRECIATION

At 1 September 2017

4,120

19,907

47,285

Charge for year

3,090

14,027

23,889

At 31 August 2018

7,210

33,934

71,174

NET BOOK VALUE

At 31 August 2018

9,270

28,856

459,170

At 31 August 2017

12,360

38,362

54,693

5.	FIXED ASSET INVESTMENTS

Interest

in

associate

£

COST

At 1 September 2017

and 31 August 2018

50

NET BOOK VALUE

At 31 August 2018

50

At 31 August 2017

50

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

244,315

643,186

Other debtors

-

8,287

Bauer Digital Limted

18,602

40,602

BBG Energy (UK) Ltd

180

180

VAT

831

-

Prepayments

8,180

4,072

272,108

696,327

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

167,586

152,616

Tax

60,406

14,395

Social security and other taxes

4,805

7,245

VAT

-

54,235

Other creditors

524

261

American Express CC

1,148

2,594

LTSB credit card

892

1,316

Submarine Safaris

223,980

223,980

Amounts due to shareholders

9,628

-

Directors' loan accounts

40,853

4,512

Deferred income

103,314

241,554

Accrued expenses

6,061

22,224

619,197

724,932

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

100

Ordinary

1

100

100

9.

RESERVES

Retained

earnings

£

At 1 September 2017

605,027

Profit for the year

233,264

Dividends

(105,882

)

At 31 August 2018

732,409

10.	RELATED PARTY DISCLOSURES

During the year, the company made an interest free loan to Bauer Digital Limited, in which the company holds

33.33% of the issued share capital as referred to in note 7. At 31 August 2018, the balance of this loan amounted

to £18,602 (2017 £40,602).