Ospringe Media Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08990023 (England and Wales)

Unaudited Financial Statements

for the Period 1 October 2018 to 6 August 2019

for

OSPRINGE MEDIA LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

D K J Perkins

SECRETARY:

L K Macara

REGISTERED OFFICE:

3rd Floor

14 Floral Street

London

WC2E 9DH

REGISTERED NUMBER:

08990023 (England and Wales)

ACCOUNTANTS:

Shipleys LLP

Chartered Accountants

5 Godalming Business Centre

Woolsack Way

Godalming

Surrey

GU7 1XW

FIXED ASSETS

Investments

3

-

101

CURRENT ASSETS

Stocks

-

1,778,192

Debtors

4

-

1,593,342

Cash at bank

53,691

1,001,334

53,691

4,372,868

CREDITORS

Amounts falling due within one year

5

53,691

41,884

NET CURRENT ASSETS

-

4,330,984

TOTAL ASSETS LESS CURRENT LIABILITIES

-

4,331,085

CAPITAL AND RESERVES

Called up share capital

6

108,805

499,388

Share premium

622,605

4,500,611

Retained earnings

(731,410

)

(668,914

)

SHAREHOLDERS' FUNDS

-

4,331,085

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 6 August 2019.

The members have not required the company to obtain an audit of its financial statements for the period ended 6 August 2019 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 15 August 2019 and were signed by:

D K J Perkins - Director

1.	STATUTORY INFORMATION

Ospringe 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 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.

There is an intention to wind up the Company by a directors voluntary liquidation. As such the directors do not

consider that the going concern basis is appropriate for these financial statements and have instead prepared the

financial statements on an alternative basis. This basis includes all assets at their recoverable amounts rather than

their historical costs, and makes provision for the costs of disposals of the assets. All assets and liabilities are

treated as recoverable and payable within one year.

The accounts are prepared in Sterling, which is the functional and presentational currency of the entity.

Turnover

Turnover comprises the company's revenue in respect of production and exploitation of television programmes

or films during the period exclusive of Value Added Tax. Fees are recognised once the right to the income has

been earned.

Turnover also includes interest income and arrangement fee income earned on loan finance provided during the

period. Turnover is recognised in the period in which the interest and fees fall due in accordance with the loan

agreement.

Stocks

Stock is stated at the lower of cost and net realisable value. Cost comprises expenditure in respect of the

development and production of television programmes or films. Net realisable value is the expected selling price

or other cumulative income stream that is prudently anticipated from a programme after taking account of costs

of completion and bringing it to market.

Taxation

Taxation for the period 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 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 period end and that are expected to apply to the reversal of the

timing difference.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at

the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Fixed asset investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated

impairment losses.

3.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 October 2018

101

Disposals

(101

)

At 6 August 2019

-

NET BOOK VALUE

At 6 August 2019

-

At 30 September 2018

101

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

-

228,996

Other debtors

-

1,364,346

-

1,593,342

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

-

1,321

Taxation and social security

53,691

38,477

Other creditors

-

2,086

53,691

41,884

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

1,088,051

A Ordinary shares

£0.10

108,805

499,387

NIL

B Ordinary shares

£0.10

-

1

108,805

499,388

Details of the various share rights attached to each type of share capital is included in the Articles of Association.

7.	OTHER FINANCIAL COMMITMENTS

As at the reporting date, the company had no financial or other commitments or contracts for capital expenditure

in place (2018: £nil).

8.	RELATED PARTY DISCLOSURES

No transactions were undertaken with related parties as such that are required to be disclosed under FRS

102.