Ultimate Sports Media Ltd - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 05512734 (England and Wales)

Abbreviated Unaudited Accounts

for the Period 1st January 2013 to 30th June 2014

for

Ultimate Sports Media Ltd

Page

Company Information

1

Chartered Accountants' Report

2

Abbreviated Balance Sheet

3

Notes to the Abbreviated Accounts

4

DIRECTORS:

D I Holyoak

M R Gibson

REGISTERED OFFICE:

The Forge Cottage

2 High Street

Mildenhall

Suffolk

IP28 7EJ

REGISTERED NUMBER:

05512734 (England and Wales)

ACCOUNTANTS:

Waller Wilson & Co

Chartered Accountants

The Forge Cottage

2 High Street

Mildenhall

Bury St Edmunds

Suffolk

IP28 7EJ

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited

financial statements, from which the unaudited abbreviated accounts (set out on pages three to five) have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements

of Ultimate Sports Media Ltd for the period ended 30th June 2014 which comprise the Profit and Loss Account, the Balance Sheet

and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical

and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Ultimate Sports Media Ltd, as a body, in accordance with our terms of

engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Ultimate Sports Media Ltd

and state those matters that we have agreed to state to the Board of Directors of Ultimate Sports Media Ltd, as a body, in this report in

accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume

responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Ultimate Sports Media Ltd has kept adequate accounting records and to prepare statutory financial

statements that give a true and fair view of the assets, liabilities, financial position and loss of Ultimate Sports Media Ltd. You

consider that Ultimate Sports Media Ltd is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Ultimate Sports Media Ltd. For this

reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given

to us and we do not, therefore, express any opinion on the statutory financial statements.

Waller Wilson & Co

Chartered Accountants

The Forge Cottage

2 High Street

Mildenhall

Bury St Edmunds

Suffolk

IP28 7EJ

25th March 2015

FIXED ASSETS

Intangible assets

2

34,084

49,818

Tangible assets

3

-

-

Investments

4

-

-

34,084

49,818

CURRENT ASSETS

Debtors

19,013

21,827

Cash at bank

8,663

8,818

27,676

30,645

CREDITORS

Amounts falling due within one year

18,958

31,845

NET CURRENT ASSETS/(LIABILITIES)

8,718

(1,200

)

TOTAL ASSETS LESS CURRENT LIABILITIES

42,802

48,618

CREDITORS

Amounts falling due after more than one year

82,814

82,814

NET LIABILITIES

(40,012

)

(34,196

)

CAPITAL AND RESERVES

Called up share capital

5

100

100

Share premium

19,970

19,970

Profit and loss account

(60,082

)

(54,266

)

SHAREHOLDERS' FUNDS

(40,012

)

(34,196

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30th June 2014.

The members have not required the company to obtain an audit of its financial statements for the period ended 30th June 2014 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 25th March 2015 and were signed on its behalf by:

D I Holyoak - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the Financial

Reporting Standard for Smaller Entities (effective April 2008).

Preparation of consolidated financial statements

The financial statements contain information about Ultimate Sports Media Ltd as an individual company and do not contain

consolidated financial information as the parent of a group. The company has taken the option under Section 398 of the

Companies Act 2006 not to prepare consolidated financial statements.

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Intangible fixed assets - intellectual property

Intellectual property represents the cost of the initial development and testing of ultimate-ski.com. Amortisation is provided

to write off the intellectual property over five years commencing 1 September 2006.

Tangible fixed assets

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

Plant and machinery etc

-

25% on cost

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Deferred tax assets are recognised to the extent that it is more likely than not that they will be recovered.

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.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1st January 2013

and 30th June 2014

159,811

AMORTISATION

At 1st January 2013

109,993

Amortisation for period

15,734

At 30th June 2014

125,727

NET BOOK VALUE

At 30th June 2014

34,084

At 31st December 2012

49,818

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1st January 2013

and 30th June 2014

2,847

DEPRECIATION

At 1st January 2013

and 30th June 2014

2,847

NET BOOK VALUE

At 30th June 2014

-

At 31st December 2012

-

4.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1st January 2013

and 30th June 2014

51

PROVISIONS

At 1st January 2013

and 30th June 2014

51

NET BOOK VALUE

At 30th June 2014

-

At 31st December 2012

-

The company's investments at the balance sheet date in the share capital of companies include the following:

Ultimate Sports Dive Co Ltd

Nature of business: Book publishing

%

Class of shares:

holding

Ordinary

51.00

2014

2012

£

£

Aggregate capital and reserves

(37,457

)

(36,918

)

Loss for the period/year

(439

)

(40

)

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2012

value:

£

£

100

Ordinary

1

100

100