Brightmove Media Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 08319850 (England and Wales)

Unaudited Financial Statements

for the Period 1st July 2016 to 31st March 2017

for

BRIGHTMOVE MEDIA LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

Chartered Accountants' Report

6

DIRECTORS:

N Sharrocks

S M Wyles

REGISTERED OFFICE:

Suffolk House

George Street

Croydon

Surrey

CR0 0YN

REGISTERED NUMBER:

08319850 (England and Wales)

ACCOUNTANTS:

Simpson Wreford & Partners

Chartered Accountants

Suffolk House

George Street

Croydon

Surrey

CR0 0YN

FIXED ASSETS

Property, plant and equipment

4

313,776

637,918

CURRENT ASSETS

Inventories

110,376

58,862

Debtors

5

108,758

3,582

Cash at bank and in hand

450

1,503

219,584

63,947

CREDITORS

Amounts falling due within one year

6

326,980

297,087

NET CURRENT LIABILITIES

(107,396

)

(233,140

)

TOTAL ASSETS LESS CURRENT LIABILITIES

206,380

404,778

CAPITAL AND RESERVES

Called up share capital

105,757

71,154

Share premium

3,862,224

3,329,827

Retained earnings

(3,761,601

)

(2,996,203

)

SHAREHOLDERS' FUNDS

206,380

404,778

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

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

The directors acknowledge their 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 5th April 2017 and were signed on its behalf by:

S M Wyles - Director

1.	STATUTORY INFORMATION

Brightmove Media Limited is a private company, limited by shares , registered in England and Wales. 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.

Turnover

Revenue 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

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

Plant and machinery

-

at varying rates on cost

Motor vehicles

-

20% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete

and slow moving items.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

Deferred tax

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

statement of financial position 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 period 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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Going concern

The directors of the company anticipated continuing losses and these losses have been funded by further

investment within the business.

Based on the above, the directors are confident that the company will continue as a going concern for the

foreseeable future and that the financial forecasts show that the initial losses will be recovered in future

trading periods.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 5 (2016 - 5 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1st July 2016

997,825

15,005

3,716

1,016,546

Additions

-

4,400

-

4,400

Disposals

(625,000

)

(15,005

)

-

(640,005

)

At 31st March 2017

372,825

4,400

3,716

380,941

DEPRECIATION

At 1st July 2016

370,276

6,546

1,806

378,628

Charge for period

117,673

1,748

358

119,779

Eliminated on disposal

(425,000

)

(6,242

)

-

(431,242

)

At 31st March 2017

62,949

2,052

2,164

67,165

NET BOOK VALUE

At 31st March 2017

309,876

2,348

1,552

313,776

At 30th June 2016

627,549

8,459

1,910

637,918

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

30.6.16

£

£

Trade debtors

104,935

-

Other debtors

3,823

3,582

108,758

3,582

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

30.6.16

£

£

Bank loans and overdrafts

28,403

62,430

Trade creditors

136,043

73,408

Social security and other taxes

24,310

42,003

VAT

16,810

3,841

Other creditors

121,414

115,405

326,980

297,087

7.	RELATED PARTY DISCLOSURES

S M Wyles

A director of the company.

During the period Mr S M Wyles had provided services to the company totalling £80,000 through Honey Bee

Investors Limited a business in which he holds a controlling interest in.

All transactions were carried out at arms length.

8.	ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.

9.	FIRST YEAR ADOPTION

The policies applied under the entity's accounting framework are not materially different to FRS102, including

provisions provided under Section 1A. and have not impacted on equity or profit and loss.

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a

Statement of Financial Position. Readers are cautioned that the Statement of Comprehensive Income and certain

other primary statements and the Report of the Directors are not required to be filed with the Registrar of

Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Brightmove Media Limited for the period ended 31st March 2017 which comprise the

Statement of Comprehensive Income, Statement of Financial Position, and the related notes from the company's

accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Brightmove Media Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Brightmove Media Limited and state those matters that we have agreed to state to the Board of Directors of Brightmove Media Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Brightmove Media Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Brightmove Media Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Brightmove Media Limited. You consider that Brightmove Media Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Brightmove Media Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Simpson Wreford & Partners

Chartered Accountants

Suffolk House

George Street

Croydon

Surrey

CR0 0YN

5th April 2017