Eye Magazine Limited - Abbreviated accounts 16.3

Eye Magazine Limited - Abbreviated accounts 16.3

EYE MAGAZINE LIMITED - Company Information

Print Friendly Version

06489300 1.5.15 30.4.16 30.4.16 Company accounts Private Limited Company FY true false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure064893002015-04-30064893002016-04-30064893002015-05-012016-04-30064893002014-04-30064893002014-05-012015-04-30064893002015-04-3006489300ns12:England2015-05-012016-04-3006489300ns14:PoundSterling2015-05-012016-04-3006489300ns7:Director12015-05-012016-04-3006489300ns7:OrdinaryShareClass12015-05-012016-04-3006489300ns5:ComputerEquipment2015-05-012016-04-3006489300ns7:OrdinaryShareClass12016-04-3006489300ns7:OrdinaryShareClass12015-04-30
REGISTERED NUMBER: 06489300 (England and Wales)












ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 APRIL 2016

FOR

EYE MAGAZINE LIMITED

EYE MAGAZINE LIMITED (REGISTERED NUMBER: 06489300)

CONTENTS OF THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 APRIL 2016










Page

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2

EYE MAGAZINE LIMITED (REGISTERED NUMBER: 06489300)

ABBREVIATED BALANCE SHEET
30 APRIL 2016

2016 2015
Notes £ £ £ £
FIXED ASSETS
Intangible assets 2 20,000 30,000
Tangible assets 3 - -
20,000 30,000

CURRENT ASSETS
Stocks 1,698 5,846
Debtors 61,868 24,655
Cash at bank 49,589 41,205
113,155 71,706
CREDITORS
Amounts falling due within one year 244,509 225,149
NET CURRENT LIABILITIES (131,354 ) (153,443 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
(111,354
)
(123,443
)

CREDITORS
Amounts falling due after more than one
year
34,000
45,400
NET LIABILITIES (145,354 ) (168,843 )

CAPITAL AND RESERVES
Called up share capital 4 100 100
Profit and loss account (145,454 ) (168,943 )
SHAREHOLDERS' FUNDS (145,354 ) (168,843 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2016 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 abbreviated accounts 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 Board of Directors on 12 January 2017 and were signed on its behalf by:





J L Walters - Director


The notes form part of these abbreviated accounts

1
EYE MAGAZINE LIMITED (REGISTERED NUMBER: 06489300)

NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 APRIL 2016


1. ACCOUNTING POLICIES

Accounting convention
The financial statements have been prepared under the historical cost convention and in accordance with the
Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover
Turnover represents net invoiced sales of goods, 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.

Computer equipment - 33% on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the
balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling
at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the
period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension
scheme are charged to the profit and loss account in the period to which they relate.

Goodwill
Acquired goodwill is written off in equal annual instalments over 10 years, which is its estimated useful economic
life.

2. INTANGIBLE FIXED ASSETS
Total
£
COST
At 1 May 2015
and 30 April 2016 100,000
AMORTISATION
At 1 May 2015 70,000
Amortisation for year 10,000
At 30 April 2016 80,000
NET BOOK VALUE

At 30 April 2016 20,000
At 30 April 2015 30,000

2 continued...
EYE MAGAZINE LIMITED (REGISTERED NUMBER: 06489300)

NOTES TO THE ABBREVIATED ACCOUNTS - continued
FOR THE YEAR ENDED 30 APRIL 2016


3. TANGIBLE FIXED ASSETS
Total
£
COST
At 1 May 2015
and 30 April 2016 1,800
DEPRECIATION
At 1 May 2015
and 30 April 2016 1,800
NET BOOK VALUE
At 30 April 2016 -
At 30 April 2015 -

4. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2016 2015
value: £ £
100 Ordinary £1 100 100

3