ACCOUNTS - Final Accounts

KINGSMAN MEDIA LTD - Company Information

Caseware UK (AP4) 2016.0.208 2016.0.208 2017-11-302017-11-30The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truefalseThe principal activities of the company in the year under review was that of investments and the brokerage of physical sugar.false2016-12-01 00710677 2016-12-01 2017-11-30 00710677 2015-12-01 2016-11-30 00710677 2017-11-30 00710677 2016-11-30 00710677 2015-12-01 00710677 c:IncreaseDecreaseDueToTransitionFromPreviousStandard 2015-12-01 00710677 c:IncreaseDecreaseDueToTransitionFromPreviousStandard 2016-11-30 00710677 c:IncreaseDecreaseDueToTransitionFromPreviousStandard 2015-12-01 2016-11-30 00710677 7 2016-12-01 2017-11-30 00710677 7 2015-12-01 2016-11-30 00710677 e:Director1 2016-12-01 2017-11-30 00710677 c:Non-currentFinancialInstruments c:ListedExchangeTraded 2017-11-30 00710677 c:Non-currentFinancialInstruments c:ListedExchangeTraded 2016-11-30 00710677 c:CurrentFinancialInstruments 2017-11-30 00710677 c:CurrentFinancialInstruments 2016-11-30 00710677 c:CurrentFinancialInstruments c:WithinOneYear 2017-11-30 00710677 c:CurrentFinancialInstruments c:WithinOneYear 2016-11-30 00710677 c:ShareCapital 2017-11-30 00710677 c:ShareCapital 2016-11-30 00710677 c:ShareCapital 2015-12-01 00710677 c:CapitalRedemptionReserve 2017-11-30 00710677 c:CapitalRedemptionReserve 2016-11-30 00710677 c:CapitalRedemptionReserve 2015-12-01 00710677 c:OtherMiscellaneousReserve 2016-12-01 2017-11-30 00710677 c:OtherMiscellaneousReserve 2017-11-30 00710677 c:OtherMiscellaneousReserve 2015-12-01 2016-11-30 00710677 c:OtherMiscellaneousReserve 2016-11-30 00710677 c:OtherMiscellaneousReserve 2015-12-01 00710677 c:MergerReserve 2017-11-30 00710677 c:MergerReserve 2016-11-30 00710677 c:MergerReserve 2015-12-01 00710677 c:RetainedEarningsAccumulatedLosses 2016-12-01 2017-11-30 00710677 c:RetainedEarningsAccumulatedLosses 2017-11-30 00710677 c:RetainedEarningsAccumulatedLosses 2015-12-01 2016-11-30 00710677 c:RetainedEarningsAccumulatedLosses 2016-11-30 00710677 c:RetainedEarningsAccumulatedLosses 2015-12-01 00710677 e:FRS102 2016-12-01 2017-11-30 00710677 e:AuditExempt-NoAccountantsReport 2016-12-01 2017-11-30 00710677 e:FullAccounts 2016-12-01 2017-11-30 00710677 e:PrivateLimitedCompanyLtd 2016-12-01 2017-11-30 iso4217:GBP xbrli:pure

Registered number: 00710677

KINGSMAN MEDIA LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 NOVEMBER 2017


KINGSMAN MEDIA LIMITED REGISTERED NUMBER:00710677

BALANCE SHEET

AS AT 30 NOVEMBER 2017

		2017		2016
Note		£		£

Fixed assets
Investments	5		8,413		8,475
			8,413		8,475
Current assets
Debtors: amounts falling due within one year	6	8,678		-
Current asset investments	7	-		136,379
Cash at bank and in hand		783,813		669,836
		792,491		806,215
Creditors: amounts falling due within one year	8	(2,040)		(3,979)
Net current assets			790,451		802,236
Total assets less current liabilities			798,864		810,711
Provisions for liabilities
Deferred tax		(696)		(799)
			(696)		(799)
Net assets			798,168		809,912

Capital and reserves
Called up share capital	800	800
Capital redemption reserve	80,000	80,000
Fair value reserve	2,965	2,924
Merger reserve	196	196
Profit and loss account	714,207	725,992
	798,168	809,912

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KINGSMAN MEDIA LIMITED REGISTERED NUMBER:00710677

BALANCE SHEET (CONTINUED)

AS AT 30 NOVEMBER 2017

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

Mr J C Kingsman

Director

Date: 31 May 2018

The notes on pages 4 to 10 form part of these financial statements.

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		KINGSMAN MEDIA LIMITED

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 30 NOVEMBER 2017

	Called up share capital	Capital redemption reserve	Fair value reserve	Merger reserve	Profit and loss account	Total equity
	£	£	£	£	£	£
At 1 December 2015	800	80,000	2,098	196	714,415	797,509
Comprehensive income for the year
Profit for the year	-	-	-	-	12,403	12,403
Fair value adjustments: revaluation of investments less deferred tax thereon to undistributable reserves	-	-	-	-	(826)	(826)
Total comprehensive income for the year	-	-	-	-	11,577	11,577
Transfer of investment revaluations less deferred tax thereon to undistributable reserves	-	-	826	-	-	826
Total transactions with owners	-	-	826	-	-	826

At 1 December 2016	800	80,000	2,924	196	725,992	809,912
Comprehensive income for the year
Loss for the year	-	-	-	-	(11,744)	(11,744)
Fair value adjustments: revaluation of investments less deferred tax thereon to undistributable reserves	-	-	-	-	(41)	(41)
Total comprehensive income for the year	-	-	-	-	(11,785)	(11,785)
Transfer of investment revaluations less deferred tax thereon to undistributable reserves	-	-	41	-	-	41
Total transactions with owners	-	-	41	-	-	41
At 30 November 2017	800	80,000	2,965	196	714,207	798,168

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KINGSMAN MEDIA LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2017

1.	General information

Kingsman Media Ltd is a private company limited by shares incorporated in England and Wales in the United Kingdom.
The address of the registered office is 71 New Dover Road, Canterbury, Kent, CT1 3DZ.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £1.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

Information on the first time adoption of FRS 102 is given in note 10.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Revenue represents the trading gains and losses on completed deals during the year, net of exchange gains and losses on transactions denominated in foreign currencies and dealers commissions.

2.3

Valuation of investments

Investments in listed company shares are remeasured to market value at each Balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

Current asset investments are stated at the lower of cost and net reaslisable value.

2.4

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

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KINGSMAN MEDIA LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2017

2.Accounting policies (continued)

2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.6

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

2.7

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.8

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Statement of comprehensive income except when deferred in other comprehensive income as qualifying cash flow hedges.

2.9

Interest income

Interest income is recognised in the Statement of comprehensive income using the effective interest method.

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KINGSMAN MEDIA LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2017

2.Accounting policies (continued)

2.10

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to the Statement of comprehensive income in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance sheet.

2.11

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of comprehensive income, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

3.	Judgements in applying accounting policies and key sources of estimation uncertainty

No significant judgements have been made by management in preparing these financial statements.

Employees

The average monthly number of employees, including directors, during the year was 3 (2016 - 3).

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KINGSMAN MEDIA LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2017

5.	Fixed asset investments

		Listed investments
		£
	Cost or valuation
	At 1 December 2016	8,475
	Revaluations	(62)
	At 30 November 2017	8,413

	Net book value
	At 30 November 2017	8,413
	At 30 November 2016	8,475

Debtors

					2017	2016
					£	£


Corporation tax repayable	2,213	-
Prepayments and accrued income	6,465	-
	8,678	-

7.	Current asset investments
		2017	2016
		£	£

Unlisted investments	-	136,379
	-	136,379

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KINGSMAN MEDIA LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2017

8.	Creditors: Amounts falling due within one year
		2017	2016
		£	£

Corporation tax	-	2,214
Accruals and deferred income	2,040	1,765
	2,040	3,979

Reserves

Capital redemption reserve

The capital redemption reserve arises from the cancellation of the A and B shares used as part of the demerger.

Fair value reserve

The fair value reserve represents the restatement of the listed investments at market value (from cost) less the deferred tax implications.

Merger reserve

The merger reserve represents the balance arising from the degrouping of the company from Slatters of Canterbury.

Profit and loss account

The profit and loss account represents accumulated profits and losses, net of dividends and other adjustments.

Page 8

	KINGSMAN MEDIA LIMITED

NOTES TO THE FINANCIAL STATEMENTS		FOR THE YEAR ENDED 30 NOVEMBER 2017

10.	First time adoption of FRS 102
	The Company transitioned to FRS 102 from previously extant UK GAAP as at 1 December 2015. The impact of the transition to FRS 102 is as follows:
		As previously stated 1 December 2015	Effect of transition 1 December 2015	FRS 102 (as restated) 1 December 2015	As previously stated 30 November 2016	Effect of transition 30 November 2016	FRS 102 (as restated) 30 November 2016
	Note	£	£	£	£	£	£

Fixed assets	1	4,752	2,623	7,375	4,752	3,723	8,475
Current assets		796,472	-	796,472	806,215	-	806,215
Creditors: amounts falling due within one year		(3,190)	-	(3,190)	(3,979)	-	(3,979)
Net current assets		793,282	-	793,282	802,236	-	802,236
Total assets less current liabilities		798,034	2,623	800,657	806,988	3,723	810,711
Provisions for liabilities	2	-	(525)	(525)	-	(799)	(799)
Net assets		798,034	2,098	800,132	806,988	2,924	809,912

Capital and reserves

798,034

2,098

800,132

806,988

2,924

809,912

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KINGSMAN MEDIA LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2017

10.First time adoption of FRS 102 (continued)

		As previously stated 30 November 2016	Effect of transition 30 November 2016	FRS 102 (as restated) 30 November 2016
	Note	£	£	£

Turnover	(14,533)	-	(14,533)
	(14,533)	-	(14,533)
Administrative expenses	23,806	-	23,806
Other operating income	-	3,723	3,723
Operating profit	9,273	3,723	12,996
Income from investments	103	-	103
Interest receivable and similar income	1,791	-	1,791
Taxation	(2,213)	(274)	(2,487)
Profit on ordinary activities after taxation and for the financial year	8,954	3,449	12,403

Explanation of changes to previously reported profit and equity:

	1	The transitional adjustment is the result of the restatement of the listed investments at market value. Previously these were included in the accounts at cost less impairment.
	2	Deferred tax now recognised on revalued investments.

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