Company Registration No. 07261459 (England and Wales)
New Media Business Group Limited
Unaudited accounts
for the year ended 31 March 2020
New Media Business Group Limited
Unaudited accounts
Contents
New Media Business Group Limited
Company Information
for the year ended 31 March 2020
Company Number
07261459 (England and Wales)
Registered Office
The Enterprise Centre PO Box 656
Woolpit
Bury St Edmunds
Suffolk
IP30 9WR
Accountants
Caseron Cloud Accounting Ltd
7 Swallow Drive
Stowmarket
Suffolk
IP14 5BY
New Media Business Group Limited
Statement of financial position
as at 31 March 2020
Intangible assets
889
1,186
Tangible assets
8,376
11,167
Investments
362,274
362,274
Cash at bank and in hand
871
745
Creditors: amounts falling due within one year
(1,368,747)
(1,308,791)
Net current liabilities
(750,427)
(560,566)
Total assets less current liabilities
(378,888)
(185,939)
Provisions for liabilities
Deferred tax
(72,453)
(72,453)
Net liabilities
(451,341)
(258,392)
Called up share capital
100
100
Profit and loss account
(451,441)
(258,492)
Shareholders' funds
(451,341)
(258,392)
For the year ending 31 March 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 21 July 2021 and were signed on its behalf by
T Meadows-Smith
Director
Company Registration No. 07261459
New Media Business Group Limited
Notes to the Accounts
for the year ended 31 March 2020
New Media Business Group Limited is a private company, limited by shares, registered in England and Wales, registration number 07261459. The registered office is The Enterprise Centre PO Box 656, Woolpit, Bury St Edmunds, Suffolk, IP30 9WR.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts have been prepared on a going concern basis as the director considers that the company will be able to meet its liabilities as they fall due despite having net current liabilities. The director is confident that trading conditions will improve which will result in a return to profit in 2021. The director has reviewed the cashflow and results to the date of signing the financial statements and considers that the company will have adequate resources to continue in operational existence for at least 12 months from the date of approval of the accounts.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% reducing balance
Computer equipment
25% reducing balance
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
25% reducing balance
New Media Business Group Limited
Notes to the Accounts
for the year ended 31 March 2020
4
Intangible fixed assets
Total
5
Tangible fixed assets
Total
6
Average number of employees
During the year the average number of employees was 1 (2019: 1).
