PRODUCT ME UK LIMITED - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09026863 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2019

FOR

PRODUCT ME UK LIMITED

Page

Statement of Financial Position

1

Notes to the Financial Statements

2

to

3

CURRENT ASSETS

Debtors

4

278

711

Cash at bank

6,141

4,768

6,419

5,479

CREDITORS

Amounts falling due within one year

5

(919

)

(2,107

)

NET CURRENT ASSETS

5,500

3,372

TOTAL ASSETS LESS CURRENT LIABILITIES

5,500

3,372

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

5,400

3,272

5,500

3,372

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 applicable to companies subject to the small companies regime.

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

The financial statements were approved by the director and authorised for issue on 30 July 2020 and were signed by:

M R Stacey - Director

1.	STATUTORY INFORMATION

PRODUCT ME UK LIMITED is a private company, limited by shares , registered in England and

Wales. The company's registered number and registered office address are as below:

Registered number:

09026863

Registered office:

Unit B Lancaster Fields

Crewegate Industrial Estate

Crewe

Cheshire

CW1 6FF

The principal activity of the company during the year was that of reselling cloud based media

distribution software.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the

contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement

constitutes a financing transaction, where it is recognised at the present value of the future payments

discounted at a market rate of interest for a similar debt instrument.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of

impairment at the end of each reporting date. If there is objective evidence of impairment, an

impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually

significant, these are assessed individually for impairment. Other financial assets are either assessed

individually or grouped on the basis of similar credit risk characteristics.

Corporation tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the

reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items

recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other

comprehensive income or directly in equity, respectively.

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at

the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or

substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax

losses and other deferred tax assets are recognised to the extent that it is probable that they will be

recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is

measured using the tax rates and laws that have been enacted or substantively enacted by the

reporting date that are expected to apply to the reversal of the timing difference.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2018 - 2 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.19

31.10.18

£

£

Trade debtors

-

438

Other debtors

100

100

VAT

178

173

278

711

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.19

31.10.18

£

£

Amounts owed to participating interests

-

1,417

Tax

356

190

Directors' loan accounts

13

-

Accruals and deferred income

550

500

919

2,107

Amounts owed to participating interests are interest-free, unsecured and repayable on demand.

6.	EVENTS AFTER THE REPORTING PERIOD

There were no significant events up to the date of approval of the financial statements by the Board.