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

REGISTERED NUMBER: 09001114 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 April 2017

for

Punchy Media Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

J Ogden

REGISTERED OFFICE:

3 Park Square East

Leeds

West Yorkshire

LS1 2NE

REGISTERED NUMBER:

09001114 (England and Wales)

ACCOUNTANTS:

Sochall Smith Limited

Chartered Accountants

3 Park Square

Leeds

LS1 2NE

FIXED ASSETS

Tangible assets

4

441

284

CURRENT ASSETS

Debtors

5

9,657

9,847

Cash at bank

11,843

12,594

21,500

22,441

CREDITORS

Amounts falling due within one year

6

12,585

20,477

NET CURRENT ASSETS

8,915

1,964

TOTAL ASSETS LESS CURRENT LIABILITIES

9,356

2,248

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

9,256

2,148

SHAREHOLDERS' FUNDS

9,356

2,248

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 25 April 2018 and were signed by:

J Ogden - Director

1.	STATUTORY INFORMATION

Punchy 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 represents net invoiced services provided, excluding value added tax.

Tangible fixed assets

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

Computer equipment

-

25% 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.

Amounts recoverable on contracts

Amounts recoverable on contracts represents revenue receivable from clients on contracts in progress at the

balance sheet date.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 May 2016

570

Additions

399

At 30 April 2017

969

DEPRECIATION

At 1 May 2016

286

Charge for year

242

At 30 April 2017

528

NET BOOK VALUE

At 30 April 2017

441

At 30 April 2016

284

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.17

30.4.16

£

£

Amounts recoverable on contract

9,657

9,847

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.17

30.4.16

£

£

Corporation tax

6,925

11,799

Directors' current accounts

3,860

7,070

Accrued expenses

1,800

1,608

12,585

20,477

7.	ULTIMATE CONTROLLING PARTY

The company is under the ultimate control of the director.