IRIDESCENT_MEDIA_LIMITED - Accounts

IRIDESCENT MEDIA LIMITED - Company Information

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Company Registration No. 8170338 (England and Wales)

IRIDESCENT MEDIA LIMITED

DIRECTOR'S REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2016

IRIDESCENT MEDIA LIMITED

COMPANY INFORMATION

Director

Mr P Yardley-Jones

Company number

8170338

Registered office

Flat 10

Checkline House

186-192 Darkes Lane

Potters Bar

Hertfordshire

EN6 1AF

Accountants

Theataccounts Limited

The Oakley

Kidderminster Road

Droitwich

Worcestershire

WR9 9AY

IRIDESCENT MEDIA LIMITED

CONTENTS

Page

Director's report

Profit and loss account

Balance sheet

Notes to the financial statements

4 - 6

IRIDESCENT MEDIA LIMITED

DIRECTOR'S REPORT

FOR THE YEAR ENDED 31 AUGUST 2016

- 1 -

The director presents his report and financial statements for the year ended 31 August 2016.

Principal activities

The principal activity of the company continued to be that of specialised design activities.specialised design activities.

Director

The following director has held office since 1 September 2015:

Mr P Yardley-Jones

This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.

On behalf of the board

Mr P Yardley-Jones

Director

30 May 2017

IRIDESCENT MEDIA LIMITED

PROFIT AND LOSS ACCOUNT

FOR THE YEAR ENDED 31 AUGUST 2016

- 2 -

2016

2015

Notes

Turnover

5,432

9,233

Cost of sales

(4,465)

(4,713)

Gross profit

967

4,520

Administrative expenses

(1,928)

(3,807)

(Loss)/profit on ordinary activities before taxation

(961)

713

Tax on (loss)/profit on ordinary activities

(271)

(Loss)/profit for the year

(961)

442

IRIDESCENT MEDIA LIMITED

BALANCE SHEET

AS AT

31 AUGUST 2016

- 3 -

2016

2015

Notes

Fixed assets

Tangible assets

Current assets

Debtors

587

296

Cash at bank and in hand

2,107

3,288

2,694

3,584

Creditors: amounts falling due within one year

(1,969)

(1,905)

Net current assets

725

1,679

Total assets less current liabilities

726

1,687

Capital and reserves

Called up share capital

Profit and loss account

725

1,686

Shareholders' funds

726

1,687

For the financial year ended 31 August 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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and the Financial Reporting Standard for Smaller Entities (effective January 2015).

Approved by the Board for issue on 30 May 2017

Mr P Yardley-Jones

Director

Company Registration No. 8170338

IRIDESCENT MEDIA LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2016

- 4 -

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 services ..

1.4

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:

Computer equipment

33% Straight line

Operating (loss)/profit

2016

2015

Operating (loss)/profit is stated after charging:

Depreciation of tangible assets

264

Taxation

2016

2015

Domestic current year tax

U.K. corporation tax

271

Total current tax

271

IRIDESCENT MEDIA LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2016

- 5 -

Tangible fixed assets

Plant and machinery etc

Cost

At 1 September 2015 & at 31 August 2016

800

Depreciation

At 1 September 2015

792

Charge for the year

At 31 August 2016

799

Net book value

At 31 August 2016

At 31 August 2015

Debtors

2016

2015

Trade debtors

587

296

Creditors: amounts falling due within one year

2016

2015

Taxation and social security

271

Other creditors

1,969

1,634

1,969

1,905

Share capital

2016

2015

Allotted, called up and fully paid

1 Ordinary of £1 each

IRIDESCENT MEDIA LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2016

- 6 -

Statement of movements on profit and loss account

Profit
and loss
account

Balance at 1 September 2015

1,686

Loss for the year

(961)

Balance at 31 August 2016

725

IRIDESCENT MEDIA LIMITED

SCHEDULE OF ADMINISTRATIVE EXPENSES

FOR THE YEAR ENDED 31 AUGUST 2016

2016

2015

Administrative expenses

Use of home as office

408

561

Printing, postage and stationery

144

451

Telephone

453

Motor and travel expenses

587

883

Entertaining - allowable

380

Accountancy

738

726

Bank charges

Sundry expenses - allowable

Depreciation on computer equipment

264

1,928

3,807