Hazard Media Ltd - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 07473086

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2017

FOR

HAZARD MEDIA LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

M P Williams

REGISTERED OFFICE:

6b Parkway

Porters Wood

St Albans

Hertfordshire

AL3 6PA

REGISTERED NUMBER:

07473086

ACCOUNTANTS:

Hanburys Limited

6b Parkway

Porters Wood

St Albans

Hertfordshire

AL3 6PA

FIXED ASSETS

Tangible assets

4

2,831

2,831

CURRENT ASSETS

Debtors

5

450

-

Cash at bank

588

577

1,038

577

CREDITORS

Amounts falling due within one year

6

48,969

38,887

NET CURRENT LIABILITIES

(47,931

)

(38,310

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(45,100

)

(35,479

)

PROVISIONS FOR LIABILITIES

7

538

566

NET LIABILITIES

(45,638

)

(36,045

)

CAPITAL AND RESERVES

Called up share capital

8

4

4

Retained earnings

9

(45,642

)

(36,049

)

SHAREHOLDERS' FUNDS

(45,638

)

(36,045

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the director on 6 December 2017 and were signed by:

M P Williams - Director

1.	STATUTORY INFORMATION

Hazard Media Ltd is a private company, limited by shares , registered in Not specified/Other. The company's

registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

These financial statements for the year ended 31 March 2017 are the first financial statements of Hazard Media

Ltd prepared in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic

of Ireland. The reported financial position and financial performance for the previous period are unaffected by

the transition to FRS 102 other than by the inclusion of Deferred Tax amounting to £566 respectively as at 1

April 2015, the date of transition to FRS 102.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12

'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the

contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is

a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to

realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and bank balances, are initially measured at transaction price

including transaction costs and are subsequently carried at amortised cost using the effective interest method

unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value

of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one

year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual

arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of

the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement

constitutes a financing transaction, where the debt instrument is measured at the present value of the future

payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not

amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of

business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or

less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction

price and subsequently measured at amortised cost using the effective interest method.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account,

except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2016 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 April 2016

and 31 March 2017

8,800

DEPRECIATION

At 1 April 2016

and 31 March 2017

5,969

NET BOOK VALUE

At 31 March 2017

2,831

At 31 March 2016

2,831

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Other debtors

450

-

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Trade creditors

540

-

Social security and other taxes

(90

)

-

Directors' current accounts

48,269

38,637

Accruals

250

250

48,969

38,887

7.	PROVISIONS FOR LIABILITIES

31.3.17

31.3.16

£

£

Deferred tax

Accelerated capital allowances

538

566

Deferred

tax

£

Balance at 1 April 2016

566

Provided during year

(28

)

Balance at 31 March 2017

538

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.17

31.3.16

value:

£

£

4

ORDINARY

£1

4

4

9.

RESERVES

Retained

earnings

£

At 1 April 2016

(36,049

)

Deficit for the year

(9,593

)

At 31 March 2017

(45,642

)