Essence Media Limited - Accounts to registrar (filleted) - small 18.2

Essence Media Limited - Accounts to registrar (filleted) - small 18.2

ESSENCE MEDIA LIMITED - Company Information

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REGISTERED NUMBER: 08264728 (England and Wales)















ESSENCE MEDIA LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2020





Spurling Cannon
Chartered Certified Accountants
424 Margate Road
Westwood
Ramsgate
Kent
CT12 6SJ








ESSENCE MEDIA LIMITED (REGISTERED NUMBER: 08264728)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ESSENCE MEDIA LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2020







DIRECTOR: M Bennett





REGISTERED OFFICE: 424 Margate Road
Westwood
Ramsgate
Kent
CT12 6SJ





REGISTERED NUMBER: 08264728 (England and Wales)





ACCOUNTANTS: Spurling Cannon
Chartered Certified Accountants
424 Margate Road
Westwood
Ramsgate
Kent
CT12 6SJ
Page 1
ESSENCE MEDIA LIMITED (REGISTERED NUMBER: 08264728)

BALANCE SHEET
31 MARCH 2020

2020 2019
Notes £    £   
FIXED ASSETS
Intangible assets 4 25,000 25,000
Tangible assets 5 1,174 2,348
26,174 27,348

CURRENT ASSETS
Cash in hand 100 100

CREDITORS
Amounts falling due within one year 6 (151,138 ) (151,138 )
NET CURRENT LIABILITIES (151,038 ) (151,038 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
(124,864
)
(123,690
)

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (124,964 ) (123,790 )
SHAREHOLDERS' FUNDS (124,864 ) (123,690 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 10 February 2021 and were signed by:



M Bennett - Director


The notes form part of these financial statements

Page 2
ESSENCE MEDIA LIMITED (REGISTERED NUMBER: 08264728)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020

1. STATUTORY INFORMATION

Essence Media 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. 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Website is being amortised evenly over its estimated useful life of nil years.

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

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2019 - NIL).

Page 3 continued...
ESSENCE MEDIA LIMITED (REGISTERED NUMBER: 08264728)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2020

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 April 2019
and 31 March 2020 25,000
NET BOOK VALUE
At 31 March 2020 25,000
At 31 March 2019 25,000

5. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 April 2019
and 31 March 2020 5,869
DEPRECIATION
At 1 April 2019 3,521
Charge for year 1,174
At 31 March 2020 4,695
NET BOOK VALUE
At 31 March 2020 1,174
At 31 March 2019 2,348

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£    £   
Lighthouse Capital Investments 103,609 103,609
Acorn Homes (Kent) Limited 40,000 40,000
Acorn Homes (UK) Limited (11,761 ) (11,761 )
Directors' current accounts 18,289 18,289
Accrued expenses 1,001 1,001
151,138 151,138

7. GOING CONCERN

These accounts have been prepared on the going concern basis, on the understanding that the director will continue to financially support the company.

Page 4