Ultimate Sports Media Ltd Accounts






Ultimate Sports Media Ltd
	Company No. 05512734
		Abbreviated Accounts
		30 June 2016

at	30 June 2016

Company No.		05512734	Notes	2016	2015
				£	£
Fixed assets
	Intangible assets		2	20,640	23,595


				20,640	23,595
Current assets

	Debtors			17,435	19,972

	Cash at bank and in hand			8,432	10,772
				25,867	30,744
Creditors: Amounts falling due within one year				(8,421)	(16,467)
Net current assets				17,446	14,277
Total assets less current liabilities				38,086	37,872
Creditors: Amounts falling due after more than one year				(94,251)	(85,064)



Net liabilities				(56,165)	(47,192)

Capital and reserves
	Called up share capital		3	100	100
	Share premium account			19,970	19,970


	Profit and loss account			(76,235)	(67,262)

Shareholder's funds				(56,165)	(47,192)

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in part 15 of the Companies Act 2006 and with the Financial Reporting Standard for Smaller Entities (effective January 2015).

For the year ended 30 June 2016 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 Companies Act 2006 with respect to accounting records and the preparation of accounts.
Approved by the board on 23 March 2017

And signed on its behalf by:

D.I. Holyoak
Director
23 March 2017

for the year ended 30 June 2016

1

Accounting policies

Basis of preparation

The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015) ["the FRSSE"]. Preparation of consolidated financial statements The financial statements contain information about Ultimate Sports Media Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company has taken the option under Section 398 of the Companies Act 2006 not to prepare consolidated financial statements.

Turnover

Turnover represents the amounts (excluding value added tax) derived from the provision of goods and services to customers.

Intangible fixed assets and amortisation - intellectual property

Intellectual property represents the cost of the initial development and testing of ultimate-ski.com. Amortisation is provided to write off expenditure on intellectual property over five years.

Deferred taxation

Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts.
Deferred tax is provided in full on timing differences which result in an obligation to pay more (or a right to pay less) tax at a future date, at the tax rates that are expected to apply when the timing differences reverse, based upon current tax rates and laws.
Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset.
Deferred tax assets are recognised to the extent that it is regarded as more likely than not that they will be recovered. Deferred tax assets and liabilities are not discounted.

2	Fixed assets
				Intangible fixed assets	Investments	Total
				£	£	£
	Cost or revaluation
	At 1 July 2015			159,811	51	159,862
	Additions			9,417	-	9,417



	At 30 June 2016			169,228	51	169,279
	Amortisation
	At 1 July 2015			136,216	51	136,267
	Charge for the year			12,372	-	12,372



	At 30 June 2016			148,588	51	148,639
	Net book values
	At 30 June 2016			20,640	-	20,640
	At 30 June 2015			23,595	-	23,595




	Investment in Subsidiaries
	The company has the following subsidiary undertakings:
	Name of company	Country of incorporation (if not UK)	Class of shares held	% age of shares held	Capital and reserves at end of the relevant year	Profit/(loss) for the relevant year
					£	£
	Ultimate Sports Dive Co Ltd		Ordinary	51	(37,357)	-

3	Share Capital
		Nominal value	2016	2016	2015
		£	Number	£	£
	Allotted, called up and fully paid:
	Ordinary	1.00	100	100	100




				100	100