Format Intelligence Ltd - Limited company accounts 11.9

REGISTERED NUMBER: 07652464 (England and Wales)

Director's Report and

Unaudited Financial Statements for the Year Ended 31 May 2015

for

Format Intelligence Ltd

Page

Company Information

1

Director's Report

2

Statement of Director's Responsibilities

3

Profit and Loss Account

4

Balance Sheet

5

Notes to the Financial Statements

6

DIRECTOR:

A Hansell

SECRETARY:

N Hansell

REGISTERED OFFICE:

37 Walter Bigg Way

Wallingford

Oxfordshire

OX10 8FB

REGISTERED NUMBER:

07652464 (England and Wales)

ACCOUNTANTS:

Bennett and Company

Chartered Certified Accountants

The Coach House

Ealing Green

London

W5 5ER

The director presents his report with the financial statements of the company for the year ended 31 May 2015.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of television programme production.

DIRECTOR

A Hansell held office during the whole of the period from 1 June 2014 to the date of this report.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating

to small companies.

ON BEHALF OF THE BOARD:

A Hansell - Director

26 February 2016

The director is responsible for preparing the Director's Report and the financial statements in accordance with applicable

law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director

has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting

Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve

the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and

of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the

company's transactions and disclose with reasonable accuracy at any time the financial position of the company and

enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for

safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud

and other irregularities.

TURNOVER

41,833

66,534

Administrative expenses

23,631

26,075

OPERATING PROFIT

2

18,202

40,459

Interest receivable and similar income

-

1

PROFIT ON ORDINARY ACTIVITIES BEFORE TAXATION

18,202

40,460

Tax on profit on ordinary activities

3

3,827

7,987

PROFIT FOR THE FINANCIAL YEAR

14,375

32,473

CONTINUING OPERATIONS

None of the company's activities were acquired or discontinued during the current year or previous year.

TOTAL RECOGNISED GAINS AND LOSSES

The company has no recognised gains or losses other than the profits for the current year or previous year.

FIXED ASSETS

Tangible assets

5

3,614

4,323

CURRENT ASSETS

Cash at bank

3,265

7,232

CREDITORS

Amounts falling due within one year

6

6,239

11,290

NET CURRENT LIABILITIES

(2,974

)

(4,058

)

TOTAL ASSETS LESS CURRENT LIABILITIES

640

265

CAPITAL AND RESERVES

Called up share capital

7

2

2

Profit and loss account

8

638

263

SHAREHOLDERS' FUNDS

9

640

265

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2015 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 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 director on 26 February 2016 and were signed by:

A Hansell - Director

1.	ACCOUNTING POLICIES

Accounting convention

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

Financial reporting standard number 1

Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a

small company.

Turnover

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

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

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Deferred tax

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

sheet date.

2.	OPERATING PROFIT

The operating profit is stated after charging:

31.5.15

31.5.14

£

£

Depreciation - owned assets

1,205

1,440

Director's remuneration and other benefits etc

7,930

7,736

3.

TAXATION

Analysis of the tax charge

The tax charge on the profit on ordinary activities for the year was as follows:

31.5.15

31.5.14

£

£

Current tax:

UK corporation tax

3,827

7,987

Tax on profit on ordinary activities

3,827

7,987

UK corporation tax has been charged at 20% (2014 - 20%).

Factors affecting the tax charge

The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is

explained below:

31.5.15

31.5.14

£

£

Profit on ordinary activities before tax

18,202

40,460

Profit on ordinary activities

multiplied by the standard rate of corporation tax

in the UK of 20% (2014 - 20%)

3,640

8,092

Effects of:

Expenses not deductible for tax purposes

477

532

Capital allowances in excess of depreciation

(290

)

(637

)

Current tax charge

3,827

7,987

4.

DIVIDENDS

31.5.15

31.5.14

£

£

Ordinary shares of £1 each

Final

14,000

33,000

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

machinery

fittings

Totals

£

£

£

COST

At 1 June 2014

5,907

1,475

7,382

Additions

496

-

496

At 31 May 2015

6,403

1,475

7,878

DEPRECIATION

At 1 June 2014

2,414

645

3,059

Charge for year

997

208

1,205

At 31 May 2015

3,411

853

4,264

NET BOOK VALUE

At 31 May 2015

2,992

622

3,614

At 31 May 2014

3,493

830

4,323

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.15

31.5.14

£

£

Corporation tax

3,827

7,987

VAT

895

1,980

Other creditors

557

363

Accruals and deferred income

960

960

6,239

11,290

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.5.15

31.5.14

value:

£

£

2

Ordinary

£1

2

2

8.

RESERVES

Profit

and loss

account

£

At 1 June 2014

263

Profit for the year

14,375

Dividends

(14,000

)

At 31 May 2015

638

9.	RECONCILIATION OF MOVEMENTS IN SHAREHOLDERS' FUNDS

31.5.15

31.5.14

£

£

Profit for the financial year

14,375

32,473

Dividends

(14,000

)

(33,000

)

Net addition/(reduction) to shareholders' funds

375

(527

)

Opening shareholders' funds

265

792

Closing shareholders' funds

640

265

10.

CONTROL

A. Hansell owns 50% of the company's shareholding.