Giant Steps Media Limited - Period Ending 2013-12-31

Registration number: 06707895

Giant Steps Media Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 December 2013
 

Moffatt & Co
Progress House
396 Wilmslow Road
Withington
Withington
Manchester
M20 3BN

Giant Steps Media Limited
(Registration number: 06707895)
Abbreviated Balance Sheet at 31 December 2013

		Note			2013 £			2012 £
Fixed assets
Tangible fixed assets					6,438			7,118
Current assets
Debtors					24,642			24,865
Cash at bank and in hand					10,407			3,890
					35,049			28,755
Creditors: Amounts falling due within one year					(48,872)			(62,708)
Net current liabilities					(13,823)			(33,953)
Net liabilities					(7,385)			(26,835)
Capital and reserves
Called up share capital		3			25			25
Profit and loss account					(7,410)			(26,860)
Shareholders' deficit					(7,385)			(26,835)

For the year ending 31 December 2013 the company was entitled to exemption 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2008).

Approved by the director on 29 September 2014

.........................................
Mr John William Redfern
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Giant Steps Media Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2013
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Going concern

The financial statements have been prepared on a going concern basis. The year end liabilities exceed assets by £7,385. The director has therefore considered the validity of preparing accounts on a going concern basis. The director has considered the current financing of the business and is firmly of the opinion that the business can rely on the support from the director. The director does not envisage this position changing in the ensuing twelve month period and is therefore if opinion that the going concern basis is valid.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Office Equipment	25% Reducing Balance

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 2

Giant Steps Media Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2013
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 January 2013		36,174			36,174
Additions		1,328			1,328
At 31 December 2013		37,502			37,502
Depreciation
At 1 January 2013		29,056			29,056
Charge for the year		2,008			2,008
At 31 December 2013		31,064			31,064
Net book value
At 31 December 2013		6,438			6,438
At 31 December 2012		7,118			7,118

3	Share capital

Allotted, called up and fully paid shares

	2013						2012
		No.			£			No.			£
Ordinary Shares of £1 each		25			25			25			25

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