Concise Media Consulting Limited - Accounts to registrar (filleted) - small 18.2

CONCISE MEDIA CONSULTING LIMITED

Unaudited Financial Statements for the Year Ended 31 December 2019

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

K S Waller

A Burn

R M A Inkley

A N C Barnes

G Symon

SECRETARY:

Ms J Egharevba

REGISTERED OFFICE:

66-67 Newman Street

Fitzrovia

London

W1T 3EQ

REGISTERED NUMBER:

08247648 (England and Wales)

ACCOUNTANTS:

Haslehursts Limited

88 Hill Village Road

Sutton Coldfield

West Midlands

B75 5BE

FIXED ASSETS

Intangible assets

5

105,695

3,108

Tangible assets

6

2,519

1,506

108,214

4,614

CURRENT ASSETS

Debtors

7

182,736

31,850

Cash at bank

105,138

110,922

287,874

142,772

CREDITORS

Amounts falling due within one year

8

(492,385

)

(350,327

)

NET CURRENT LIABILITIES

(204,511

)

(207,555

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(96,297

)

(202,941

)

CAPITAL AND RESERVES

Called up share capital

9

462

462

Retained earnings

(96,759

)

(203,403

)

SHAREHOLDERS' FUNDS

(96,297

)

(202,941

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2019 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 financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 June 2020 and were signed on its behalf by:

K S Waller - Director

1.	STATUTORY INFORMATION

Concise Media Consulting 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

The accounts are prepared on the going concern basis on the assumption that the company's

creditors, in particular the company's directors, continue to provide financial support to the company by

deferring liabilities owed to them and providing cashflow loans when needed.

Turnover

Turnover represents the amounts invoiced for services, net of VAT. Income for audit contracts is

recognised in line with the audit period, which is typically 12 months. Where an audit contract has

been invoiced during one year but an element of the income relates to a subsequent accounting

period, that proportion is treated as deferred income. Within creditors is £294,787 relating to deferred

income (2018: £223,645).

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured

at cost less any accumulated depreciation and any accumulated impairment losses.

The development costs are being amortised evenly over the estimated useful life of 10 years.

Tangible fixed assets

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

Fixtures and fittings

-

20% on cost

Computer equipment

-

25% on cost

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.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2018 - 4 ) .

5.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 January 2019

23,250

Additions

114,887

At 31 December 2019

138,137

AMORTISATION

At 1 January 2019

20,142

Charge for year

12,300

At 31 December 2019

32,442

NET BOOK VALUE

At 31 December 2019

105,695

At 31 December 2018

3,108

6.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 January 2019

105

6,050

6,155

Additions

-

2,401

2,401

At 31 December 2019

105

8,451

8,556

DEPRECIATION

At 1 January 2019

42

4,607

4,649

Charge for year

21

1,367

1,388

At 31 December 2019

63

5,974

6,037

NET BOOK VALUE

At 31 December 2019

42

2,477

2,519

At 31 December 2018

63

1,443

1,506

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

138,000

13,814

Other debtors

44,736

18,036

182,736

31,850

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

71,088

20,397

Taxation and social security

64,517

43,096

Other creditors

356,780

286,834

492,385

350,327

Within other creditors is £294,787 (2018: £223,645) relating to deferred income. This is where an

audit contract has been invoiced during this year, but the income is deferred and recognised over the

term of the contract. This will be released and recognised as income in the following accounting

period.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

462

Ordinary

£1

462

462

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2019

and 31 December 2018:

2019

2018

£

£

K S Waller

Balance outstanding at start of year

(30,698

)

(80,404

)

Amounts advanced

40,711

49,706

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

10,013

(30,698

)