Media Lease Limited - Accounts to registrar (filleted) - small 17.3
Media Lease Limited - Accounts to registrar (filleted) - small 17.3
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2017 |
| FOR |
| MEDIA LEASE LIMITED |
| MEDIA LEASE LIMITED (REGISTERED NUMBER: 04318811) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the Year Ended 31 March 2017 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| MEDIA LEASE LIMITED |
| COMPANY INFORMATION |
| for the Year Ended 31 March 2017 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Magma House |
| 16 Davy Court |
| Castle Mound Way |
| Rugby |
| CV23 0UZ |
| MEDIA LEASE LIMITED (REGISTERED NUMBER: 04318811) |
| BALANCE SHEET |
| 31 March 2017 |
| 31.3.17 | 31.3.16 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 3 |
| CURRENT ASSETS |
| Debtors | 4 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 5 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| 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. |
| 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 |
| MEDIA LEASE LIMITED (REGISTERED NUMBER: 04318811) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the Year Ended 31 March 2017 |
| 1. | STATUTORY INFORMATION |
| Media Lease Limited is a private company limited by shares, registered in England and Wales, registration |
| number 04318811. The address of the registered office is can be found on the company information page. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| This is the first year in which the financial statements have been prepared under FRS 102 1A Small Entities. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
| value added tax and other sales taxes. |
| Tangible fixed assets |
| Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated |
| impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the |
| location and condition necessary for it to be capable of operating in the manner intended by management. |
| Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful |
| lives, using either a straight line or reducing balance method, as indicated below. |
| Depreciation is provided on the following basis: |
| Land and Buildings - 33% straight line |
| Plant and Machinery - 33% straight line |
| Computer Equipment - 33% straight line |
| The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if |
| appropriate, or if there is an indication of a significant change since the last reporting date. |
| Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are |
| recognised in profit or loss. |
| Financial instruments |
| The Company only enters into basic financial instruments transactions that result in the recognition of financial |
| assets and liabilities like trade and other debtors and creditors and loans to related parties. |
| Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period |
| for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is |
| recognised in profit or loss. |
| Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an |
| 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. |
| Debtors |
| Basic financial assets, including other debtors, are initially recognised at transaction price, 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. Such assets are subsequently carried at amortised cost |
| using the effective interest method, less any impairment. |
| Cash and cash equivalents |
| Cash and cash equivalents are represented by deposits held at call with financial institutions. |
| Creditors |
| Basic financial liabilities, including trade and other 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. Such instruments are subsequently carried at |
| amortised cost using the effective interest method, less any impairment. |
| MEDIA LEASE LIMITED (REGISTERED NUMBER: 04318811) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31 March 2017 |
| 2. | ACCOUNTING POLICIES - continued |
| Taxation |
| The tax expense for the year comprises current and deferred tax. |
| Tax is recognised in profit or loss except that a change attributable to an item of income and expense recognised |
| as other comprehensive income or to an item recognised directly in equity respectively. |
| Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed at |
| the Balance Sheet date, except that: |
| - The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered |
| against the reversal of deferred tax liabilities or other future taxable profits; and |
| - Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have |
| been met. |
| Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively |
| enacted by the balance sheet date. |
| 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 profit or loss in the period to which they relate. |
| 3. | TANGIBLE FIXED ASSETS |
| Short |
| leasehold | Fixtures |
| land & | and | Computer |
| buildings | fittings | equipment | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 April 2016 |
| Additions |
| At 31 March 2017 |
| DEPRECIATION |
| At 1 April 2016 |
| Charge for year |
| At 31 March 2017 |
| NET BOOK VALUE |
| At 31 March 2017 |
| At 31 March 2016 |
| 4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.3.17 | 31.3.16 |
| £ | £ |
| Trade debtors |
| Other debtors |
| MEDIA LEASE LIMITED (REGISTERED NUMBER: 04318811) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31 March 2017 |
| 5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.3.17 | 31.3.16 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 6. | FIRST YEAR ADOPTION |
| This is the first year that the company has presented its results under FRS 102. The last financial statements |
| under UK GAAP were for the year ended 31 March 2016. The date of transition to FRS 102 was 1 April 2015. |
| There are no transitional adjustments arising from the first time adopting FRS 102. |