SAGE MEDIA LIMITED - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 05462823 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 May 2017

for

SAGE MEDIA LIMITED

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTOR:

Adnan Faour

SECRETARY:

Osman Secretaries Ltd

REGISTERED OFFICE:

591 London Road

Cheam

Sutton

Surrey

SM3 9AG

REGISTERED NUMBER:

05462823 (England and Wales)

ACCOUNTANTS:

Merali's Chartered Accountants

Scottish Provident House

76-80 College Road

Harrow

Middlesex

HA1 1BQ

The following reproduces the text of the report prepared for the director 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

Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report

of the Director 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 SAGE MEDIA LIMITED for the year ended 31 May 2017 which comprise the Income Statement, Balance

Sheet 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 director of SAGE MEDIA LIMITED in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of SAGE MEDIA LIMITED and state those matters that we have agreed to state to the director of SAGE MEDIA LIMITED 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 SAGE MEDIA LIMITED and its director for our work or for this report.

It is your duty to ensure that SAGE 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 profit of SAGE MEDIA LIMITED. You consider that SAGE MEDIA LIMITED is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of SAGE 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.

Merali's Chartered Accountants

Scottish Provident House

76-80 College Road

Harrow

Middlesex

HA1 1BQ

20 March 2018

FIXED ASSETS

Tangible assets

4

143,220

152,288

CURRENT ASSETS

Debtors

5

1,671,130

1,576,085

Prepayments and accrued income

440,000

-

Cash at bank

528,663

481,953

2,639,793

2,058,038

CREDITORS

Amounts falling due within one year

6

(5,789,986

)

(5,221,447

)

NET CURRENT LIABILITIES

(3,150,193

)

(3,163,409

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(3,006,973

)

(3,011,121

)

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

(3,007,973

)

(3,012,121

)

SHAREHOLDERS' FUNDS

(3,006,973

)

(3,011,121

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 Income Statement has not been delivered.

The financial statements were approved by the director on 20 March 2018 and were signed by:

Adnan Faour - Director

1.	STATUTORY INFORMATION

SAGE 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

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

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

Plant and machinery etc

-

25% on reducing balance, 25% on cost, 10% on cost and 10% on cost

Taxation

Taxation for the year 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 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.

Going concern

The directors consider that it is appropriate to prepare the financial statements on a going concern basis.

Although the balance sheet shows a deficiency of assets, company's turnover has improved during the year. Further,

both the short term loans are non secured loans. The financial statements do not include any adjustments that would

result if the financial support were withdrawn.

The directors have confirmed that they will continue to provide financial support to the company until such time as its

position improves.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 June 2016

413,201

Additions

16,417

At 31 May 2017

429,618

DEPRECIATION

At 1 June 2016

260,913

Charge for year

25,485

At 31 May 2017

286,398

NET BOOK VALUE

At 31 May 2017

143,220

At 31 May 2016

152,288

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/5/17

31/5/16

£

£

Trade debtors

517,000

560,000

Other debtors

1,154,130

1,016,085

1,671,130

1,576,085

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/5/17

31/5/16

£

£

Bank loans and overdrafts

3,797,230

3,325,641

Trade creditors

331,964

450,646

Taxation and social security

14,370

8,001

Other creditors

1,646,422

1,437,159

5,789,986

5,221,447

7.	RELATED PARTY DISCLOSURES