Catalyst Global Media Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 07946499

CATALYST GLOBAL MEDIA LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Directors:

A M Hardiman

G J Lyons

Ms C M Walls-Hardiman

Registered office:

69-85 Tabernacle Street

London

EC2A 4RR

Registered number:

07946499

Fixed assets

Tangible assets

4

5,463

14,860

Investments

5

3

3

5,466

14,863

Current assets

Debtors

6

79,227

171,374

Cash at bank

172,207

66,675

251,434

238,049

Creditors

Amounts falling due within one year

7

232,254

241,005

Net current assets/(liabilities)

19,180

(2,956

)

Total assets less current liabilities

24,646

11,907

Capital and reserves

Called up share capital

180

180

Share premium

24,982

24,982

Retained earnings

(516

)

(13,255

)

Shareholders' funds

24,646

11,907

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 21 March 2018 and were signed on its behalf by:

Ms C M Walls-Hardiman - Director

1.	Statutory information

Catalyst Global Media Limited 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

Compliance with accounting standards

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.

Significant judgements and estimates

In applying the Company's accounting policies, the directors are required to make judgements, estimates and

assumptions in determining the carrying amounts of assets and liabilities. The director's judgements, estimated

and assumptions are based on the best and most reliable evidence available at the time when the decisions are

made, and are based on historical experience and other factors that are considered to be applicable. Due to the

inherent subjectivity involved in making such judgements, estimates and assumptions, the actual results and

outcomes may differ.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting

estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or

in the period of the revision and future periods, if the revision affects both current and future periods.

Critical judgements in applying the Company's accounting policies

The critical judgement that the director has made in the process of applying the Company's accounting policies

that have the most significant effect on the amounts recognised in the statutory financial statements are

discussed below:

(i) Assessing indicators and impairment

In assessing whether there have been any indicators or impairment assets, the directors have considered both

external and internal sources of information such as market conditions, counterparty credit ratings and

experience or recoverability. There have been no indicators or impairments identified during the current financial

year.

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.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

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.

Investments

Fixed asset investments are stated at cost less provision for diminution in value.

Going concern

It is the intention of the directors to ensure the company has adequate financial funding to enable the company

to make payment to a creditor when due for payment. On this basis the directors consider it appropriate to

prepare the financial statements on a going concern basis.

The financial statements do not include any adjustment that would be a consequence of a withdrawal of the

financial funding by a director.

Financial instruments

(i) Financial assets

Basic financial assets, including trade and other receivables, cash and bank balances, 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.

(ii) Financial liabilities

Basic financial liabilities, including trade and other payables and bank loans that are classified as debt, 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 receipts discounted at a market rate of interest.

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

business from suppliers. Accounts 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 payables are recognised initially at transaction

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

(iii) Company financial instruments

The Company has not issued and is not in receipt of any compound financial instruments.

(iv) Offsetting

Financial assets and liabilities are offset and 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.

3.	Employees and directors

The average number of employees during the year was 6 (2016 - 4 ) .

4.	Tangible fixed assets

Plant and

machinery

etc

£

Cost

At 1 January 2017

33,540

Additions

2,026

At 31 December 2017

35,566

Depreciation

At 1 January 2017

18,680

Charge for year

11,423

At 31 December 2017

30,103

Net book value

At 31 December 2017

5,463

At 31 December 2016

14,860

5.	Fixed asset investments

Shares in

group

undertakings

£

Cost

At 1 January 2017

and 31 December 2017

3

Net book value

At 31 December 2017

3

At 31 December 2016

3

6.

Debtors

2017

2016

£

£

Amounts falling due within one year:

Trade debtors

14,997

93,321

Amounts owed by group undertakings

2,000

2,000

Other debtors

-

6,265

16,997

101,586

Amounts falling due after more than one year:

Other debtors

62,230

69,788

Aggregate amounts

79,227

171,374

7.

Creditors: amounts falling due within one year

2017

2016

£

£

Trade creditors

3,533

10,653

Amounts owed to group undertakings

100,000

100,000

Taxation and social security

26,520

31,405

Other creditors

102,201

98,947

232,254

241,005

8.	Directors' advances, credits and guarantees

At the balance sheet date the company owed Gideon Lyons £97,000 ( 2016 £97,000).

The loan is interest free and repayable on demand.

9.	Ultimate controlling party

The Company is controlled by the directors.