L_A_MEDIA_LIMITED - Accounts

L.A. MEDIA LIMITED - Company Information

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Company Registration No. SC219056 (Scotland)

L A MEDIA LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2015

L A MEDIA LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 4

L A MEDIA LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 AUGUST 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

15,585

19,369

Investments

15,586

19,370

Current assets

Debtors

705,406

682,179

Cash at bank and in hand

6,897

7,798

712,303

689,977

Creditors: amounts falling due within one year

(723,597)

(770,109)

Net current liabilities

(11,294)

(80,132)

Total assets less current liabilities

4,292

(60,762)

Creditors: amounts falling due after more than one year

(54,885)

(66,367)

(50,593)

(127,129)

Capital and reserves

Called up share capital

100

Profit and loss account

(50,693)

(127,229)

Shareholders' funds

(50,593)

(127,129)

For the financial year ended 31 August 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 31 May 2016

J C Adams

Director

Company Registration No. SC219056

L A MEDIA LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2015

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

The company meets its day to day working capital requirements through an overdraft facility which is repayable on demand. On this basis, the director consider it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result from a withdrawal of the overdraft facility by the company's bankers.

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Plant and machinery

25% Straight Line

Fixtures, fittings & equipment

33.3% Straight line

Motor vehicles

20% Straight line

1.5

Investments

Fixed asset investments are stated at cost less provision for diminution in value.

1.6

Group accounts

The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertaking comprise a small-sized group. The company has therefore taken advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group financial statements.

L A MEDIA LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2015

- 3 -

Fixed assets

Tangible assets

Investments

Total

Cost

At 1 September 2014

244,694

244,695

Additions

19,376

Disposals

(30,611)

At 31 August 2015

233,459

233,460

Depreciation

At 1 September 2014

225,325

On disposals

(20,030)

Charge for the year

12,579

At 31 August 2015

217,874

Net book value

At 31 August 2015

15,585

15,586

At 31 August 2014

19,369

19,370

Holdings of more than 20%

The company holds more than 20% of the share capital of the following companies:

Company

Country of registration or

Shares held

incorporation

Class

Subsidiary undertakings

L A Marine Ltd

Scotland

Ordinary

100.00

The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:

Capital and reserves

Profit/(loss) for the year

2015

Principal activity

L A Marine Ltd

Yacht chartering

(417,878)

(22,092)

Creditors: amounts falling due after more than one year

2015

2014

Analysis of loans repayable in more than five years

Total amounts repayable by instalments which are due in more than five years

23,784

30,584

L A MEDIA LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2015

- 4 -

Share capital

2015

2014

Allotted, called up and fully paid

100 Ordinary of £1 each

100

Ultimate parent company

In the opinion of the Directors there is no ultimate controlling party.