Company Registration No. 04676263 (England and Wales)
Montrose Media Limited
Unaudited accounts
for the year ended 28 February 2017
Montrose Media Limited
Unaudited accounts
Contents
Montrose Media Limited
Company Information
for the year ended 28 February 2017
Company Number
04676263 (England and Wales)
Registered Office
UNIT 9
JUBILEE WAY
FAVERSHAM
KENT
ME13 8GD
ENGLAND
Montrose Media Limited
Statement of financial position
as at 28 February 2017
Tangible assets
120,537
52,312
Cash at bank and in hand
62,006
22,369
Creditors: amounts falling due within one year
(79,990)
(46,516)
Net current assets
47,719
6,810
Total assets less current liabilities
168,256
59,122
Creditors: amounts falling due after more than one year
(34,860)
-
Called up share capital
74
74
Profit and loss account
133,322
59,048
Shareholders' funds
133,396
59,122
For the year ending 28 February 2017 the company was entitled to exemption from audit 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 27 November 2017.
Matthew Davey
Director
Company Registration No. 04676263
Montrose Media Limited
Notes to the Accounts
for the year ended 28 February 2017
Montrose Media Limited is a private company, limited by shares, registered in England and Wales, registration number 04676263. The registered office and principal place of business is UNIT 9, JUBILEE WAY, FAVERSHAM, KENT, ME13 8GD, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the year ended
28 February 2017 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 March 2015.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in note
12 below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% pa straight line basis
Motor vehicles
25% pa straight line basis
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Montrose Media Limited
Notes to the Accounts
for the year ended 28 February 2017
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 March 2016
109,705
6,095
115,800
Additions
99,297
11,340
110,637
Disposals
-
(3,495)
(3,495)
At 28 February 2017
209,002
13,940
222,942
At 1 March 2016
58,141
5,347
63,488
Charge for the year
37,397
2,918
40,315
On disposals
-
(1,398)
(1,398)
At 28 February 2017
95,538
6,867
102,405
At 28 February 2017
113,464
7,073
120,537
At 29 February 2016
51,564
748
52,312
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Plant & machinery
38,363
-
Trade debtors
58,623
30,130
Accrued income and prepayments
7,080
827
6
Creditors: amounts falling due within one year
2017
2016
Trade creditors
33,197
13,349
Taxes and social security
3,351
19,544
Other creditors
5,989
4,600
Loans from directors
37,453
9,023
7
Creditors: amounts falling due after more than one year
2017
2016
Obligations under finance leases and hire purchase contracts
34,860
-
Finance lease taken out over 36 months.
Montrose Media Limited
Notes to the Accounts
for the year ended 28 February 2017
Allotted, called up and fully paid:
74 Ordinary shares of £1 each
74
74
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Loans made to the company
9,023
28,430
-
37,453
The ultimate controlling party throughout the year was: M Davey
11
Average number of employees
During the year the average number of employees was 4 (2016: 3).
12
Reconciliations on adoption of FRS 102
No adjustments were found or deemed to be necessary under the transition from UK GAAP to FRS 102.
