Qubits Media Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09535311 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 April 2018

for

Qubits Media Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

E P Kendall

B Askew

SECRETARY:

REGISTERED OFFICE:

71-75 Shelton Street

Convent Garden

London

WC2H 9JQ

REGISTERED NUMBER:

09535311 (England and Wales)

ACCOUNTANTS:

Kingscote Accountancy Limited

Rodney House

Clifton Down Road

Clifton

Bristol

BS8 4AL

FIXED ASSETS

Tangible assets

4

115

957

CURRENT ASSETS

Debtors

5

30,545

25,700

Cash at bank

44,159

42,183

74,704

67,883

CREDITORS

Amounts falling due within one year

6

50,704

56,036

NET CURRENT ASSETS

24,000

11,847

TOTAL ASSETS LESS CURRENT LIABILITIES

24,115

12,804

PROVISIONS FOR LIABILITIES

22

191

NET ASSETS

24,093

12,613

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

23,993

12,513

SHAREHOLDERS' FUNDS

24,093

12,613

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2018 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 3 October 2018 and were signed on its behalf by:

E P Kendall - Director

1.	STATUTORY INFORMATION

Qubits Media Ltd 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 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.

Plant and machinery etc

-

33% 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2017 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 May 2017

and 30 April 2018

2,525

DEPRECIATION

At 1 May 2017

1,568

Charge for year

842

At 30 April 2018

2,410

NET BOOK VALUE

At 30 April 2018

115

At 30 April 2017

957

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.18

30.4.17

£

£

Trade debtors

15,251

7,202

Other debtors

15,294

18,498

30,545

25,700

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.18

30.4.17

£

£

Trade creditors

(302

)

230

Taxation and social security

38,987

45,838

Other creditors

12,019

9,968

50,704

56,036