Abbreviated Company Accounts - PREMIUM MEDIA SOLUTIONS LIMITED

Abbreviated Company Accounts - PREMIUM MEDIA SOLUTIONS LIMITED


Registered Number 07448397

PREMIUM MEDIA SOLUTIONS LIMITED

Abbreviated Accounts

31 December 2013

PREMIUM MEDIA SOLUTIONS LIMITED Registered Number 07448397

Abbreviated Balance Sheet as at 31 December 2013

Notes 2013 2012
£ £
Fixed assets
Tangible assets 2 29,570 5,663
29,570 5,663
Current assets
Debtors 10,296 19,674
Cash at bank and in hand 100 18,379
10,396 38,053
Creditors: amounts falling due within one year (28,903) (67,458)
Net current assets (liabilities) (18,507) (29,405)
Total assets less current liabilities 11,063 (23,742)
Total net assets (liabilities) 11,063 (23,742)
Capital and reserves
Called up share capital 3 100 100
Profit and loss account 10,963 (23,842)
Shareholders' funds 11,063 (23,742)
  • 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.

Approved by the Board on 24 September 2014

And signed on their behalf by:
A McIntyre, Director

PREMIUM MEDIA SOLUTIONS LIMITED Registered Number 07448397

Notes to the Abbreviated Accounts for the period ended 31 December 2013

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover is accounted for as revenue when, and to the extent that, the company obtains a right to consideration in exchange for its performance of its obligations under the sales contract with the customer. The amount reported as revenue is the fair value of the right to consideration - usually the price specified in the contractual arrangement net of discounts and net of VAT and after any allowance for credit risk and other uncertainties.

Tangible assets depreciation policy
Depreciation is provided on all tangible fixed assets at rates calculated to write off the full cost or valuation less estimated residual value of each asset over its estimated useful life. The principal rates in use are:

Computer equipment 33% on cost

2Tangible fixed assets
£
Cost
At 1 January 2013 14,320
Additions 42,788
Disposals -
Revaluations -
Transfers -
At 31 December 2013 57,108
Depreciation
At 1 January 2013 8,657
Charge for the year 18,881
On disposals -
At 31 December 2013 27,538
Net book values
At 31 December 2013 29,570
At 31 December 2012 5,663
3Called Up Share Capital
Allotted, called up and fully paid:
2013
£
2012
£
100 Ordinary shares of £1 each 100 100