1_MEDIA_LIMITED - Accounts

1 MEDIA LIMITED - Company Information

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1 MEDIA LIMITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2014

Company Registration No. 06017972 (England and Wales)

1 MEDIA LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 4

1 MEDIA LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2014

- 1 -

2014

2013

Notes

Fixed assets

Intangible assets

10,500

14,000

Tangible assets

128,060

149,671

138,560

163,671

Current assets

Debtors

55,690

63,764

Cash at bank and in hand

37,224

40,197

92,914

103,961

Creditors: amounts falling due within one year

(47,374)

(70,857)

Net current assets

45,540

33,104

Total assets less current liabilities

184,100

196,775

Creditors: amounts falling due after more than one year

(5,370)

Provisions for liabilities

(17,645)

(23,951)

166,455

167,454

Capital and reserves

Called up share capital

100

Profit and loss account

166,355

167,354

Shareholders' funds

166,455

167,454

1 MEDIA LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

31 MARCH 2014

- 2 -

For the financial year ended 31 March 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The member has 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 abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board and authorised for issue on 29 November 2014

Leslie Farmer

Director

Company Registration No. 06017972

1 MEDIA LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2014

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention.

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 goods and services net of VAT and trade discounts.

1.4

Goodwill

Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.

1.5

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:

Leasehold improvements

10% straight line

Fixtures, fittings & equipment

15% reducing balance

Motor vehicles

25% reducing balance

1.6

Leasing and hire purchase commitments

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

1.7

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

1 MEDIA LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2014

- 4 -

Fixed assets

Intangible assets

Tangible assets

Total

Cost

At 1 April 2013

35,000

238,031

273,031

Additions

12,127

At 31 March 2014

35,000

250,158

285,158

Depreciation

At 1 April 2013

21,000

88,360

109,360

Charge for the year

3,500

33,738

37,238

At 31 March 2014

24,500

122,098

146,598

Net book value

At 31 March 2014

10,500

128,060

138,560

At 31 March 2013

14,000

149,671

163,671

Share capital

2014

2013

Allotted, called up and fully paid

100 Ordinary shares of £1 each

100

Related party relationships and transactions

Loans from/(to) directors

Transactions in relation to loans with directors during the year are outlined in the table below:

Description

% Rate

Opening Balance

Amounts Advanced

Interest Charged

Amounts Repaid

Closing Balance

Leslie Farmer - Directors loan account

18,541

37,500

59,377

(3,336)

18,541

37,500

59,377

(3,336)