1_MEDIA_LIMITED - Accounts

1 MEDIA LIMITED - Company Information

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1 MEDIA LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2016

Company Registration No. 06017972 (England and Wales)

1 MEDIA LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 5

1 MEDIA LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2016

- 1 -

2016

2015

Notes

Fixed assets

Intangible assets

3,500

7,000

Tangible assets

136,061

147,451

139,561

154,451

Current assets

Debtors

48,667

76,721

Cash at bank and in hand

28,220

41,004

76,887

117,725

Creditors: amounts falling due within one year

(57,413)

(75,057)

Net current assets

19,474

42,668

Total assets less current liabilities

159,035

197,119

Creditors: amounts falling due after more than one year

(14,594)

(15,895)

Provisions for liabilities

(16,512)

(17,276)

127,929

163,948

Capital and reserves

Called up share capital

100

Profit and loss account

127,829

163,848

Shareholders' funds

127,929

163,948

1 MEDIA LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

31 MARCH 2016

- 2 -

For the financial year ended 31 March 2016 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 1 December 2016

Mr L Farmer

Director

Company Registration No. 06017972

1 MEDIA LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

- 3 -

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 January 2015).

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

Goodwill

Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.

1.5

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:

Leasehold improvements

10% straight line

Fixtures, fittings & equipment

15% reducing balance

Motor vehicles

25% reducing balance

1.6

Leasing and hire purchase commitments

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

1.7

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

1 MEDIA LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2016

- 4 -

Fixed assets

Intangible assets

Tangible assets

Total

Cost

At 1 April 2015

35,000

272,328

307,328

Additions

28,203

Disposals

(17,680)

At 31 March 2016

35,000

282,851

317,851

Depreciation

At 1 April 2015

28,000

124,877

152,877

On disposals

(12,293)

Charge for the year

3,500

34,206

37,706

At 31 March 2016

31,500

146,790

178,290

Net book value

At 31 March 2016

3,500

136,061

139,561

At 31 March 2015

7,000

147,451

154,451

Creditors: amounts falling due within one year

The aggregate amount of creditors for which security has been given amounted to £21,825 (2015 - £9,531).

Creditors: amounts falling due after more than one year

The aggregate amount of creditors for which security has been given amounted to £14,594 (2015 - £15,895).

Share capital

2016

2015

Allotted, called up and fully paid

100 Ordinary shares of £1 each

100

1 MEDIA LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2016

- 5 -

Related party relationships and transactions

Loans (to) directors

Transactions in relation to loans with directors during the year are outlined in the table below:

Description

% Rate

Opening Balance

Amounts Advanced

Interest Charged

Amounts Repaid

Closing Balance

Mr L Farmer - Directors loan account

(9,383)

5,027

(4,356)

(9,383)

5,027

(4,356)