Media Lease Limited - Accounts to registrar (filleted) - small 18.2
Media Lease Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2019 |
| FOR |
| MEDIA LEASE LIMITED |
| MEDIA LEASE LIMITED (REGISTERED NUMBER: 04318811) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the year ended 31 March 2019 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| MEDIA LEASE LIMITED |
| COMPANY INFORMATION |
| for the year ended 31 March 2019 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Magma House |
| 16 Davy Court |
| Castle Mound Way |
| Rugby |
| CV23 0UZ |
| MEDIA LEASE LIMITED (REGISTERED NUMBER: 04318811) |
| BALANCE SHEET |
| 31 March 2019 |
| 2019 | 2018 |
| Notes | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| 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 Profit and Loss Account has not been delivered. |
| The financial statements were approved by the director on |
| MEDIA LEASE LIMITED (REGISTERED NUMBER: 04318811) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the year ended 31 March 2019 |
| 1. | STATUTORY INFORMATION |
| Media Lease Limited is a private company limited by shares, registered in England and Wales. The company's |
| registered number is 04318811 and registered office address is Magma House, 16 Davy Court, Castle Mound |
| Way, Rugby, Warwickshire, CV23 0UZ. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Revenue from a contract to provide services is recognised in the period in which the services are provided in |
| accordance with the stage of completion of the contract when all of the following conditions are satisfied: |
| - the amount of revenue can be measured reliably; |
| - it is probable that the Company will receive the consideration due under the contract; |
| - the stage of completion of the contract at the end of the reporting period can be measured reliably; and |
| - the costs incurred and the costs to complete the contract can be measured reliably. |
| Tangible fixed assets |
| Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated |
| impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the |
| location and condition necessary for it to be capable of operating in the manner intended by management. |
| Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful |
| lives, using either a straight line or reducing balance method, as indicated below. |
| Depreciation is provided on the following basis: |
| Land and Buildings | 33% straight line method |
| Plant and Machinery | 33% straight line method |
| Computer Equipment | 33% straight line method |
| The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if |
| appropriate, or if there is an indication of a significant change since the last reporting date. |
| Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are |
| recognised in profit or loss. |
| Financial instruments |
| The Company only enters into basic financial instruments transactions that result in the recognition of financial |
| assets and liabilities like trade and other debtors and creditors and loans to related parties. |
| Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period |
| for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is |
| recognised in profit or loss. |
| Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an |
| enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise |
| the asset and settle the liability simultaneously. |
| Debtors |
| Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the |
| arrangement constitutes a financing transaction, where the transaction is measured at the present value of the |
| future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost |
| using the effective interest method, less any impairment. |
| MEDIA LEASE LIMITED (REGISTERED NUMBER: 04318811) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 March 2019 |
| 2. | ACCOUNTING POLICIES - continued |
| Cash and cash equivalents |
| Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and |
| other short-term highly liquid investments that mature in no more than three months from the date of acquisition |
| and that are readily convertible to known amounts of cash with insignificant risk of change in value. |
| Creditors |
| Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related |
| parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, |
| where the debt instrument is measured at the present value of the future payments discounted at a market rate |
| of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less |
| any impairment. |
| Taxation |
| The tax expense for the year comprises current and deferred tax. |
| Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised |
| as other comprehensive income or to an item recognised directly in equity respectively. |
| Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed at |
| the Balance Sheet date, except that: |
| - The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered |
| against the reversal of deferred tax liabilities or other future taxable profits; and |
| - Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have |
| been met. |
| Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively |
| enacted by the balance sheet date. |
| 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Short |
| leasehold | Fixtures |
| land & | and | Computer |
| buildings | fittings | equipment | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 April 2018 |
| and 31 March 2019 |
| DEPRECIATION |
| At 1 April 2018 |
| Charge for year |
| At 31 March 2019 |
| NET BOOK VALUE |
| At 31 March 2019 |
| At 31 March 2018 |
| MEDIA LEASE LIMITED (REGISTERED NUMBER: 04318811) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 March 2019 |
| 5. | DEBTORS |
| 2019 | 2018 |
| £ | £ |
| Amounts falling due within one year: |
| Trade debtors |
| Amounts receivable in respect |
| of finance leases |
| Other debtors |
| Amounts falling due after more than one year: |
| Amounts recoverable on contract |
| Aggregate amounts |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Other creditors |
| 8. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2019 | 2018 |
| £ | £ |
| Other creditors | 154,403 | - |
| The block discounting is secured against all assets of the company by way of a fixed and floating charge. |