Student Media Solutions Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 07650561 (England and Wales)

Financial Statements

for the Year Ended 31 May 2017

for

Student Media Solutions Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

M A Flack

Mrs D Beth

REGISTERED OFFICE:

28 Church Road

Stanmore

Middlesex

HA7 4XR

REGISTERED NUMBER:

07650561 (England and Wales)

ACCOUNTANTS:

Parker Cavendish

Chartered Accountants

28 Church Road

Stanmore

Middlesex

HA7 4XR

FIXED ASSETS

Property, plant and equipment

4

1,225

2,450

CURRENT ASSETS

Debtors

5

12,749

17,504

Cash at bank

38,485

33,079

51,234

50,583

CREDITORS

Amounts falling due within one year

6

48,326

42,621

NET CURRENT ASSETS

2,908

7,962

TOTAL ASSETS LESS CURRENT LIABILITIES

4,133

10,412

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

4,033

10,312

SHAREHOLDERS' FUNDS

4,133

10,412

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 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 19 February 2018 and were signed on its behalf by:

Mrs D Beth - Director

1.	STATUTORY INFORMATION

Student Media Solutions 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

These financial statements for the year ended 31 May 2017 are the first financial statements of the

company that comply with FRS 102. The date of transition is 1 June 2015. No differences to the

reported financial position and income statement for the previous period were noted as a result of the

transition to FRS 102.

The principal accounting policies adopted in the preparation of the financial statements are set out

below and have remained unchanged from the previous year/period, and also have been consistently

applied within the same accounts.

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.

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

25% Straight line

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 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 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 .

4.	PROPERTY, PLANT AND EQUIPMENT

Plant and

machinery

etc

£

COST

At 1 June 2016

and 31 May 2017

5,709

DEPRECIATION

At 1 June 2016

3,259

Charge for year

1,225

At 31 May 2017

4,484

NET BOOK VALUE

At 31 May 2017

1,225

At 31 May 2016

2,450

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

10,060

12,483

VAT

2,689

5,021

12,749

17,504

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

20,474

30,059

Tax

24,979

8,797

Social security and other taxes

-

50

Net Wages

200

-

Directors' current accounts

98

1,715

Accruals and deferred income

2,575

2,000

48,326

42,621