Apex Info Media Limited - Period Ending 2017-08-31
Apex Info Media Limited - Period Ending 2017-08-31
Registration number:
Apex Info Media Limited
for the Year Ended 31 August 2017
Bollin House
Bollin Link
Wilmslow
Cheshire
SK9 1DP
Apex Info Media Limited
Contents
Company Information |
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Accountants' Report |
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Statement of Comprehensive Income |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Financial Statements |
Apex Info Media Limited
Company Information
Director |
Mr Timothy Shrieves |
Registered office |
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Accountants |
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Page 1 |
Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Apex Info Media Limited
for the Year Ended 31 August 2017
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Apex Info Media Limited for the year ended 31 August 2017 as set out on pages 3 to 9 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 at
http://www.icaew.com/en/members/regulations-standards-and-guidance/.
This report is made solely to the Board of Directors of Apex Info Media Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Apex Info Media Limited and state those matters that we have agreed to state to the Board of Directors of Apex Info Media Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Apex Info Media Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Apex Info Media Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Apex Info Media Limited. You consider that Apex Info 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 accounts of Apex Info 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 accounts.
......................................
Bollin Link
Wilmslow
Cheshire
SK9 1DP
Page 2 |
Apex Info Media Limited
Statement of Comprehensive Income for the Year Ended 31 August 2017
2017 |
2016 |
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Profit for the year |
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Total comprehensive income for the year |
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Page 3 |
Apex Info Media Limited
(Registration number: 08651449)
Balance Sheet as at 31 August 2017
Note |
2017 |
2016 |
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Fixed assets |
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Tangible assets |
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Current assets |
|||
Cash at bank and in hand |
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|
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Creditors: Amounts falling due within one year |
( |
( |
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Net current (liabilities)/assets |
( |
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Net assets |
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Capital and reserves |
|||
Called up share capital |
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Profit and loss account |
- |
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Total equity |
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For the financial year ending 31 August 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
• |
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• |
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
.........................................
Mr Timothy Shrieves
Director
Page 4 |
Apex Info Media Limited
Statement of Changes in Equity for the Year Ended 31 August 2017
Share capital |
Profit and loss account |
Total |
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At 1 September 2016 |
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Profit for the year |
- |
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Total comprehensive income |
- |
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Dividends |
- |
( |
( |
At 31 August 2017 |
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- |
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Share capital |
Profit and loss account |
Total |
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At 1 September 2015 |
- |
( |
( |
Profit for the year |
- |
|
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Total comprehensive income |
- |
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Dividends |
- |
( |
( |
New share capital subscribed |
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- |
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At 31 August 2016 |
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Page 5 |
Apex Info Media Limited
Notes to the Financial Statements for the Year Ended 31 August 2017
General information |
The company is a private company limited by share capital incorporated in United Kingdom.
The address of its registered office is:
United Kingdom
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements for the year ended 31 August 2017 are the first financial statements that comply with FRS 102 Section 1A small entities. The date of transition is 01 September 2016. The transition to FRS 102 Section 1A small entities has resulted in a small number of changes in accounting policies to those used previously. The nature of these changes and any impact on opening equity and profit for the comparative period are explained in the notes below.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Office Equipment |
33% Straight Line |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Page 6 |
Apex Info Media Limited
Notes to the Financial Statements for the Year Ended 31 August 2017
Trade creditors
Trade creditors 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 the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Page 7 |
Apex Info Media Limited
Notes to the Financial Statements for the Year Ended 31 August 2017
Tangible assets |
Furniture, fittings and equipment |
Total |
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Cost or valuation |
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At 1 September 2016 |
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At 31 August 2017 |
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Depreciation |
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At 1 September 2016 |
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Charge for the year |
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At 31 August 2017 |
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Carrying amount |
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At 31 August 2017 |
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At 31 August 2016 |
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Creditors |
Note |
2017 |
2016 |
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Due within one year |
|||
Bank loans and overdrafts |
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|
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Accruals |
600 |
1,720 |
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Corporation tax control |
2,424 |
9,651 |
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Dividends |
2017 |
2016 |
|
£ |
£ |
|
Final dividend of £ |
11,115 |
37,800 |
Page 8 |
Apex Info Media Limited
Notes to the Financial Statements for the Year Ended 31 August 2017
Related party transactions |
Transactions with directors |
2017 |
At 1 September 2016 |
Advances to directors |
At 31 August 2017 |
Mr Timothy Shrieves |
|||
Director current account |
(3,972) |
|
( |
2016 |
Advances to directors |
At 31 August 2016 |
Mr Timothy Shrieves |
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Director current account |
( |
( |
Directors' remuneration
The director's remuneration for the year was as follows:
2017 |
2016 |
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Remuneration |
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Dividends paid to directors |
2017 |
2016 |
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Mr Timothy Shrieves |
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Dividend |
11,115 |
37,800 |
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Other transactions with directors |
Dividends of £11,114.71 were paid to the Director, Mr Timothy Shrieves during the year. At the balance sheet date the amount due to Mr Timothy Shrieves was £3,773.62.
Page 9 |