SME Media Equity Limited Filleted accounts for Companies House (small and micro)

SME Media Equity Limited Filleted accounts for Companies House (small and micro)

SME MEDIA EQUITY LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 09967503
SME Media Equity Limited
Filleted Unaudited Financial Statements
31 December 2018
SME Media Equity Limited
Statement of Financial Position
31 December 2018
2018
2017
Note
£
£
Fixed assets
Investments
4
–
75,448
Current assets
Debtors
5
100
1
----
----
Net current assets
100
1
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--------
Total assets less current liabilities
100
75,449
Creditors: amounts falling due after more than one year
6
30,000
30,000
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--------
Net (liabilities)/assets
( 29,900)
45,449
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--------
Capital and reserves
Called up share capital
100
1
Profit and loss account
( 30,000)
45,448
--------
--------
Shareholders (deficit)/funds
( 29,900)
45,449
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 31 December 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 13 November 2019 , and are signed on behalf of the board by:
D A Byrne
Director
Company registration number: 09967503
SME Media Equity Limited
Notes to the Financial Statements
Year ended 31 December 2018
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 11 Park Place, Leeds, LS1 2RX.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis and on the going concern basis which assumes the continuing support of the creditors of the company. The financial statements are prepared in sterling, which is the functional currency of the entity.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
4. Investments
Shares in participating interests
£
Cost
At 1 January 2018
75,448
Other movements
( 75,448)
--------
At 31 December 2018
–
--------
Impairment
At 1 January 2018 and 31 December 2018
–
--------
Carrying amount
At 31 December 2018
–
--------
At 31 December 2017
75,448
--------
The investment above represents a 28.1% interest in Puromega Nordic AS, a company registered in Norway.
Other movements represent the company`s share of the results of the above investment.
5. Debtors
2018
2017
£
£
Other debtors
100
1
----
----
6. Creditors: amounts falling due after more than one year
2018
2017
£
£
Other creditors
30,000
30,000
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--------